Frequently Asked Questions
This question comes up a lot and we feel it is important to understand that bookies have licenses to operate legally in certain countries depending on those countries individual gambling laws.
If you were to go on holiday to a country that either the bookie has no licence for, or where gambling is actually illegal and used their services, you could get into some difficulty.
Bookies can detect when you are trying to use their site abroad and usually you will not be able to even access it. They can also see, if they choose to look, when you use a VPN to get around the location/license issue.
What we will say is it is very beneficial to take a break from matched betting from time to time and being on holiday is usually the best time for that so switching off the MB brain would be our suggestion
Using bookmaker's will not affect your credit rating. Bookmaker's carry out 'soft searches' in order to verify that your registration details are correct, but these in now way impact your credit rating. Which makes sense as you are not applying for any kind of credit.
Be aware though, if you are setting up a new bank account specifically for matched betting, that you don't inadvertently open one with an overdraft, as this action could affect your rating.
Matched betting has been around in some form or other, since the first ‘Betting Exchange’ opened it’s virtual doors in 2000 but it didn’t really become well known until quite recently.
💸💥 It is legal, risk-free and also tax-free 💥💸
When done correctly, it works fantastically and is a great way to supplement other incomes you may have.
Students, single parents and O.A.P.s have taken up Matched Betting with Team Profit and it can fit around your already busy lives quite nicely.
It will take you 30 minutes to learn how matched betting works and the good news is that you’re in the best place to do that!
After you have learnt matched betting, you can then profit whenever you have some free time to complete Welcome Offers.
Initially, each offer takes 40 minutes to complete, but you’ll get that down to 20 minutes once you’ve got the hang of it.
You can start with as little as £10, or more if you want to profit faster.
We have 3 week by week plans. 👨💼👨💼
Start with £10: Make £800 in 3 months by putting in 2 hours per week
Start with £25: Make £1000 in 3 months by putting in 3 hours per week
Start with £100: Make £1000 in 2 months by putting in 4 hours per week
Our plans are good guidelines, but feel free to start with more than £100 if you want to make money faster!
Whatever starting plan you are on, you’ll need to deposit £5 into Coral, the first bookie on the list.
Then, if starting on the £10 plan, deposit the remaining £5 into Betfair to lay your bets.
If on the £25 plan, deposit £20 into Betfair.
If on the £100, keep £10 aside for the William Hill welcome offer and deposit the remaining £75 into Betfair.
The issue for each bookmaker is they act as an individual business. If they were to stop offering free bets for new customers (Welcome Offers), very few customers would sign up.
So bookmakers make the calculated decision that it is best to keep offering free bet Welcome Offers so they continue to attract the gambling customers (known as mug punters), even though they will attract matched bettors at the same time.
For example, for every 1 matched bettor, there are probably 10 gambling customers, so it is worth running welcome offers.
After you complete the welcome offer, the bookmakers continue to run free bets. If you only ever bet with the bookmaker when they are running a free bet promotion, sooner or later the bookmaker will send you an email informing you that you will no longer be eligible for free bet promotions (this is known as being ‘gubbed’). You can still bet and deposit/withdraw, just you can’t get free bets anyone.
This is why, if you decide to continue matched betting after completing the welcome offers, all matched bettors are advised to do some mug betting.
The liability is the amount you stand to pay out in the betting exchange should you lose your lay bet.
However, if you have to pay out this liability, you will win an equal amount in the bookmaker from your bookmaker trigger bet winning.
This is the reason we use the Calculator, because it gives us the exact amout for our lay bet to ensure regardless of the outcome, the win/loss from our bookmaker trigger bet will equal the corresponding win/loss from the betting exchange.
So for example, if we placed a £10 trigger bet on Man Utd to win at 2.5 odds and lay odds of 2.5 also. We will place an equal £10 lay bet (or very close to £10 depending on the Calculator). This lay bet will have a £15 liability as shown in the Calculator and in the betting exchange when we enter our £10 lay bet stake.
If Man Utd win, we win £15 profit from the bookmaker bet, however we will lose £15 in the betting exchange (our liability).
If Man Utd do not win, we lose our £10 trigger bet from the bookmaker bet, however we win £10 in the betting exchange (our lay stake).
So regardless of the outcome of the match, we neither win nor lose, hence this is risk free. However, we still trigger the free bet!
The Starting With £25 shows how you can start with only £25 and still make £400+ from the Welcome Offers.
The reason it is not £600+ is because with the earlier Bet £X Get £Y offers you choose lower odds. This reduces your profit by around £80.
Additionally, you only take up around £50 of the Bet365 bonus, rather than the full £200 bonus, which reduces your total profit by around £110.
Note by taking this approach, you would do one Welcome Offer at a time before moving on to the next Welcome Offer.
I’d estimate filling out the registration form and making your first deposit will take 5 minutes. Occasionally, the bookmaker may ask for documents, usually a copy of your passport, utility bill and your bank card. This is only required if you are not on the electoral roll or any other verification check they perform.
I recommend storing a copy on your computer and then you can easily send these documents to any bookmaker that requests it. Once you have completed the Welcome Offers, then delete the files (or keep them in a password protected folder).
Wagering requirements are where you are awarded a bonus, which must be played with a certain number of times before it becomes withdrawable cash. For instance a casino gives you a £10 bonus, which has 20x wagering requirements. You won’t be able to withdraw this £10 bonus. Instead, you must play it on certain casino games, and then when you have met the wagering requirement of £200 (£10 x 20), any bonus funds or winnings that remain will become withdrawable cash.
Drat! The only thing left to do is hop on the bookies live chat and see if they will take pity on you and credit the free bets. However, the less time you spend chasing freebies on live chat, the better so always read our guides carefully, several times and make sure that code goes in first time.
The simple answer is No, as long as it’s just the once.
Paddy Power and Betfair are one and the same, so laying your Paddy bets with Betfair could, if they wanted to check, show you to be a matched bettor.
When placing your bets with Paddy Power, always use an alternative exchange to be safe.
Probably, maybe not!
There have been numerous thoughts and ideas regarding this over the years and the stand out fact seems to be that if you take too much value (offers, boosts, close matches, arbs etc) from a bookie, and they don’t like it, they can choose to restrict you. Seeing as it’s all that a matched bettor wants to do, you can see the conundrum.
Over-depositing, taking lesser percentage matches than normal, not doing every offer they provide and not withdrawing as often may prolong the process but no-one knows for sure 100%. All of the above techniques mean you’ll be either losing money or having it tied up somewhere you don’t need it.
Matched betting can get pretty hectic at times and even finding the time to ‘mug bet’ can be tricky so although we can’t advise members to focus on it too much, if you find yourself with time on your hands you may want to place a few on the bookie accounts you find valuable.
An ‘Acca’ is a selection of teams/players/horses bundled together into one single bet. A pre-made acca is when an exchange such as Smarkets have kindly put together certain teams into the same bet allowing us to take advantage of all those daunting Acca offers out there without the need to tackle the more complicated ‘Lay Sequential Method’.
When you replicate the teams from Smarkets into the bookie’s betslip, check any minimum odds for the offer you’re doing and enter your stake in the ‘Treble’, ‘Triple’ or ‘Accumulator’ box, you turn those teams into one single bet which can simply be laid using the standard calculator.
Team Profit Tom recorded a perfect explanation of how to do this here.
The vast majority of Virtual Sports cannot be laid at the exchanges.
Sometimes, E-sport events can be laid and/or dutched with other bookies but these are different to the standard, computer programmed virtual sports.
If you find an offer for virtual sports only ever treat them as ‘advantage play’ if the reward is valuable enough. If in doubt, you can ask on our Facebook groups
Although every sport has it’s own nuances, the general mechanics of backing and laying is the same.
As long as you back ‘horse 1’ at the bookie and you lay ‘horse 1’ at the exchange, you have a matched bet.
With horses, try betting after 10am of the day of the race and anytime until around 1 hour until the race starts. This is because you don’t want your horse pulling out overnight, you want to increase your chances of hitting a BOG and avoid the last minute odds chaos too close to the off.
Changing your payment method varies from bookie to bookie. Some only allow one payment card saved in your account at any one time in which case you must contact them asking for it to be removed before adding a new one and some allow multiple payment methods.
The instructions, depending on the bookie should be clear in the ‘cashier’ section but if in doubt, live chat will help out.
You have some options here.
The easiest way is to deposit £10 and then withdraw the full amount.
Another way is to leave it there until an offer comes along and then slightly over-stake your trigger bet, remembering to alter the calculator too so that whatever side of the bet wins, the pennies you had left in the account, are either moved to the exchange along with the bet or available as winnings in the bookie. This will incur a few pence extra on your qualifying loss so bear that in mind.
It’s wise never to punt it as we at Team Profit love guaranteed cash.
Iesnare is a script that runs in the background of your computer, put there by a bookmaker. It is placed there (much like a cookie) by an 'anti fraud and money laundering prevention company' that bookmakers use, called Iovation.
Iovation are used by some of the bookmakers and their main role is to use their fancy technology and data to identify fraudulent activity, such as people trying to set up more than one account per bookmaker or people trying to access the bookmaker from a restricted country.
There are claims though that this data is abused by the bookmakers and that they also use it to spy on our betting activity in order to identify customers as matched betters.
Some people say removing or blocking it makes you even more obvious to a bookie, we’ll leave that to the individual to decide but if you are interested in removing it, this post helps walk you though the process. https://www.facebook.com/groups/525981434223410/permalink/1099417500213131/
For further reading, here is our own guide to Iesnare.
Bets get reduced in horse racing when a runner gets withdrawn before the race starts affecting all other horse’s odds in the race.
The amount of the reduction is calculated by the bookie based on the odds of the horse who withdrew.
If you have bets in place, you do not need to action anything because when this happens the exchanges will also reduce the odds on the lay side. It may not always be the same level of reduction leaving you a few pence up or down but in most cases you do nothing.
A more in-depth explanation on Rule can be found here - https://www.teamprofit.com/rule-4-horse-racing
BOG, or Best Odds Guaranteed is an offer given by some bookies that means if you were to place your bet on a horse early in the day and that horse’s odds got higher before the off, and it went on to win, the bookie would pay you out at the increased odds for a lovely profit.
It is a rare occurrence but when it happens it is a welcomed bonus to your day.
Using a betting exchange
On the exchange you're not betting against the bookmaker, you're instead betting against other people. So when you lay a bet, what you're actually doing is saying "hey, I offer you 2.0 on united to win" and it then means you've effectively become the bookmaker, because then if united do win you pay out at odds of 2.0.
That's why we look for odds as close to each other on the back and lay bets. Because on the back bet you're betting against the bookmaker and the lay bet you're in effect, the bookmaker yourself. So they cancel each other out and no money is won or lost if the odds are the same.
Please see the article on Unmatched & Partially Matched Bets Here.
No, having bookmaker transactions on your bank statement will not effect your credit rating.
The first 20 welcome offers on Team Profit (Bet X, Get Y & Refund Offers) have no restrictions.
However, the 5 'multi bet' welcome offers require more than one bet to be placed before making a withdrawal. We're still able to make guaranteed profit from these offers and every step is explained in our guides.
No, you need to sign up to each bookmaker individually and you need to sign up to the Betfair Exchange just once.
In total, you will have 25 bookmaker accounts and at least 1 exchange account.