What would you do with an extra $500?
Surely, there are a more than a few things you could use that kind of money for right now.
Did you know there’s a safe, risk-free way to reliably make an extra $500 or so per month?
Sound too good to be true?
It’s not. It’s called matched betting. It’s perfectly legal, and it’s not really gambling at all. You can do it from home with just a computer, good internet access, and a couple free hours a day.
To learn more about what matched betting is and how to get started, keep reading.
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Matched Betting Defined:
No risk matched betting is a betting technique that turns a profit from the free bets and cash incentives offered by bookmakers.
This online betting uses a mathematical formula rather than chance or technique. In short, you place a bet on a bookie site that offers a free sports bet or betting bonus. Within the same five minutes, you place the opposite bet (lay bet) on a betting exchange site. No matter the outcome, you win on one of the websites and make a profit from the betting bonus.
Matched betting has been around since online sports betting started. But it’s grown in popularity in just the past few years.
Your ability to make money doing matched betting really depends on where you live. Sports betting and most forms of online gambling still aren’t legal in the United States. Most matched betting happens in greater Europe, the UK, and Australia — though some states are more strict than others.
Learning How to Start Matched Betting
There are some basic vocabulary terms you’ll need to understand before you dive into matched betting.
Back bet: The bet you place on a bookie site for an even to happen. In matched betting, this will be a free bet the site offers you or a bet that awards you cash for betting at all.
Lay bet: A bet AGAINST something happening. In matched betting, this is the bet you place against yourself on a betting exchange. By laying both a back bet and lay bet, you’ll make money either way.
Sign-Up/Deposit Bonus: This is free money a bookie site gives you just for creating an account, or for putting money in your account for the first time. These are usually the biggest bonuses sites offer, so get them while you can!
Reload Bonuses: These are bonuses bookie sites offer existing customers on a regular basis. They’re usually not as large as sign-up bonuses, but if you have a larger amount of money to bet they can be just as big.
Is Matched Betting Legal?
Yes! There is nothing illegal about placing back bets and lay bets on different betting sites.
Now, obviously, bookies would prefer you blow your own money the old-fashioned way. But there’s nothing illegal about being strategic with your bets and using free bonuses as profit.
Matched betting depends entirely on the generosity of different bookie sites. Different bonuses with different terms and conditions will become available depending on which sites you sign up for. And in Australia, some sites don’t offer bonuses to gamblers living in certain states.
So while it’s not illegal to take advantage of bookie bonuses, bookies are not obligated to offer you any bonuses. This is where your research and due diligence comes in. Matched betters typically sign up for as many sites as they can to find as many bonuses as possible.
To maintain a good relationship with your various bookie sites, you may want to place regular bets once in a while. This is referred to as “mugging,” where you try to make it less obvious you’re only here for the free bonuses. Bookies are within their rights to “gub” you, restricting your ability to receive bonuses if they feel you’re taking advantage.
Pros and Cons of No Risk Matched Betting
Though it may be quick and risk-free, matched betting still has its downsides. It’s important to consider the pros and cons of matched betting before you get started.
Let’s get the annoying things out of the way first.
CONS of Matched Betting
Jumping between dozens of betting sites and doing the math to turn a profit can become confusing. It’s hard for most people to describe what matched betting is to their friends. There are plenty of online sites that try to explain matched betting as simply as possible, but there’s still room for human error.
Matched betting takes time. You’ll need at least an hour of free time per day to make around $500 by the end of the month. In reality that’s about $20 per hour. But if your schedule is already full, it may be hard for you to make that time commitment.
It’ll also take some time before you build up a big enough pot to withdraw your money. This will only be the case for the first month or so, but still. Don’t expect matched betting to replace a reliable, weekly income (at least, not right away).
PROS of Matched Betting
Because the risk is so low, matched betting is a reliable source of extra income you can do from home. Don’t expect to get rich quick, but you can easily make an extra $500-$1000 per month without the commitment of a new job.
As long as you’re over 18 and living in Australia, you can do matched betting. Uni students, stay at home mums, or full-time employees looking for a good side hustle can all participate.
You get to define your matched betting income. In addition to sports bets and sign up offers, there are casino offers you can take advantage of. As long as you have the time and willpower, there are thousands of dollars worth of bonuses you could be cashing in on.
Matched Betting in Australia
Here’s a state-by-state breakdown of regulations that will impact your matched betting in Australia…
Queensland, ACT, Tasmania, and Northern Territory: No restrictions. You’ll be able to access sign-up bonuses and new betting bonuses with no hassle.
New South Wales, Victoria, South Australia, and Western Australia: Bonuses are restricted … kind of. Technically, on paper, bookies aren’t supposed to give betters in these states any sign-up or new betting bonuses. But in reality, most bookies credit them anyway.
If you live in NSW, Victoria, SA, or WA, you can still access bonuses that make matched betting possible. Most bookie customer service reps are willing to give you deposit/new better bonuses if you just ask.
Or, if all else fails, bet with your own money first and then take advantage of their existing customer bonuses. Existing customer bonuses have no state restrictions at all.
How Much Can You Make with Matched Betting?
You can expect to make the most money matched betting when you first sign up. This is because most bookie sites offer heaps of sign up bonuses and cash incentives for first-timers.
Once those are gone (or if you live in a state that doesn’t permit sign up bonuses), you’ll be profiting off of reload offers. These aren’t as juicy as the bonuses they give when trying to lure in new customers. But most part-time matched betters can easily make an extra $300-$500 per month.
Theoretically, you could replace your full-time income with matched betting. There are people who have done this to fund their travels around the world. These betters are available to take advantage of offers throughout the day and on weekends, so their profits are much higher.
Matched Betting Sites to Try in Australia
To get started matched betting in Australia, you’ll need to sign up for as many bookie sites as you can.
Once you’ve signed up for as many bookie sites as you’re comfortable with, you’ll need a betting exchange site to place your lay bets. Betfair is one of the top rated betting exchanges in Australia. They may be a great place to start.
Remember to carefully document all your login info for each site you apply for. Also, keep track of the sites you’re using as you place bets each day to reduce the risk of making an expensive mistake.
Learn More About Popular Gambling Trends
This has hopefully given you a solid overview of matched betting in Australia.
Remember, you’re not alone. There are plenty of matched betting blogs and forums dedicated to helping people make consistent money. You’ve got an entire matched betting community at your disposal.
For even more information on all different types of betting, check out more posts on our blog.
And if you’re ready to do some real gambling (with real risk), check out some of these posts here.