Matched Betting

Matched betting is a method of generating a profit from free bets, bonuses and other promotions offered by bookmakers.

The majority of bookmakers offer customers an incentive when they register with them and place their first bet. Usually, this is in the form of a free bet or bonus. The typical punter would place their initial deposit on a bet and hope that it wins. They would then receive a free bet and place that on an event and hope that this bet wins. They may get lucky and win both bets. However, they may lose both bets and they would be out of pocket. With matched betting, you can generate a profit with free bets whether your bet wins OR loses. This is made possible by covering all outcomes of an event and using the value of the free bet in your bet calculations.

A typical matched bet involves two steps.

  1. Your qualifying bet
  2. Your free bet

The purpose of the qualifying bet is simply to qualify to receive the free bet. You won’t make a profit on your qualifying bet but you will cover all outcomes to ensure you don’t make a loss. Or if you do, it will be a very small one. By doing this, you are able to receive a free bet for a very minimal cost and it is with the free bet that we are able to make an overall profit.

Both the qualifying bet and the free bet involves placing two bets, one with the bookmaker (a back bet) and one with a betting exchange (a lay bet).

A 'back' bet

Back bets are when you are betting on something to happen. For example, Manchester United to beat Liverpool. Therefore, if Manchester United win the match, your bet will win.

A 'lay' bet

Lay bets are when you place a bet on something not to happen. For example, if you placed a lay bet on Manchester United, you’re bet would win if they didn’t win eg. if they lose or draw. Lay bets cannot be placed on bookmaker websites and you must use a betting exchange such as Betfair Exchange or Smarkets to place these bets.

Covering All Outcomes

By placing both a back bet and a lay bet, you will be covering all outcomes of an event. When doing this for your qualifying bet it means that you will pretty much break even. However, as mentioned, the purpose of this step is to simply qualify for the free bet. Once you receive your free bet, you repeat the process of backing and laying a bet but because this time you are using your free bet and not your own money, you are able to return a profit whatever the outcome.

Matched Betting Tools

Matched betting is pretty simple once you get your head around how it works. However, there are a number of matched betting tools which can make the process a lot easier and quicker. Thankfully, ProfitSquad have developed a range of matched betting tools which will not only save you time and effort but can also increase your matched betting profits dramatically.

Odds Matcher

The odds matcher tool finds the best markets to place your qualifying bets and free bets on. It searches thousands of markets from a number of bookmakers to find markets where the back odds on the bookmaker are very close to the lay odds on the exchange. This is a vital part of generating the greatest profit from your free bets.


The matched betting calculator will help you work out the lay stakes for your lay bets on the exchange. It calculates the ideal lay stakes based on the details of your bet so that you can return a profit whatever the outcome.

Profit Tracker

Record your bets with the click of a button from within your ProfitSquad account. When you track a bet, your matched betting profit total will be updated so that you can keep track of your progress.


AccaBackers is an extremely useful tool for profiting from ACCA Refund offers. Numerous bookmakers run these type of offers and AccaBackers makes profiting from them a breeze by finding the best value legs for your ACCA based on the terms of the offer.

Horse Racing Matcher

With so many profitable horse racing offers around and horse races taking place every day, there is potential to make a lot of profit from these offers. The Horse Racing Matcher finds the best matches for each of these offers, saving you huge amounts of time finding close matches manually.

Each Way Dutcher

Each Way Dutching is a great way to increase your profits once you get going with matched betting. It involves covering the field by placing bets on each horse in a race at different bookies. By doing so, there can be value-opportunities which can be very profitable. The Each Way Dutcher compares odds of each horse running in every race and finds these opportunities.

Casino Calculator

This advanced casino calculator is everything you need to determine the EV of a casino bonus and whether or not it is worth claiming. Aimed at both beginners and pros, the casino calculator has a lot of features you won’t find on a standard EV calculator.

Each Way Calculator

Extra place payouts are a common promotion run by bookmakers and they can be very profitable. The Each Way Calculator helps you determine the lay stakes for the win and place parts of your each way bet. What is usually quite a tricky job is made super simple with this tool.

How much can you make from matched betting?

The amount of profit matched bettors make varies widely depending on a number of factors. If you’re able to dedicate more time to matched betting then you’ll be able to complete more offers and make more profit. However, you are able to generate a worthwhile profit with not much effort. £500 a month is achievable for a lot of people who do matched betting in their spare time and once you gain some experience £1,000+ on a monthly basis is entirely possible. As with everything, you get what you put in but one great thing about matched betting is that you can simply do it when you have free time. There are profits to be made every day with bookmaker offers and with sporting events taking place 24/7 around the world, there is always something to use your free bets on to make a profit.

Join us at Profit Squad

You can learn more about matched betting by joining us at You’ll get access to hundreds of profitable bookmaker offers which each come with step-by-step guides on how to return a profit from them. We’ll teach you everything you need to get started and how to use the matched betting tools which we provide in order to generate the maximum profit possible from each offer. Support is available 7 days a week from our dedicated support team and you’ll also find other members are more than willing to help out if you ask.

You can join ProfitSquad for just £1 which will give you 14 days access to everything mentioned above. You can cancel at any time but we’re confident that once you start generating a profit from the free bets, you’ll want to stay as part of the community.

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