Matched Betting Explained
How matched betting turns a bookmaker free bet into cash whatever the result, with a real example: backing Arsenal to beat Chelsea at William Hill and laying it on Betfair.
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The best matched betting services
You can learn matched betting from free guides, but a paid service saves a lot of time: it lists every current offer with step-by-step instructions, and its oddsmatcher finds the best back and lay prices in seconds. Both services below offer a free trial, so you can see which suits you. As a result, you can try each one before you pay anything.
OddsMonkey
One of the longest-running UK matched betting sites, from the team behind the original OddsMatcher, with more than 500,000 people signed up. For example, the free trial walks you through your first offers. After that, paid plans start with Starter at £39.99 a month or £249.99 a year, and higher tiers add casino offers and value-betting tools. OddsMonkey offers a 14-day money-back guarantee.
Try OddsMonkey free →Outplayed
Formerly Profit Accumulator, one of the original matched betting services, rebranded as Outplayed in 2024. In addition, its 7-day free trial unlocks full Platinum access, including every sportsbook sign-up offer, the oddsmatcher and the matched betting calculator. Paid plans start at Platinum, £249.99 a year, with Diamond adding casino offers.
Try Outplayed free →18+. We may earn a commission if you sign up through these links. This doesn’t change our view of either service.
Because each chapter is short, you can also rewatch one step at a time. Then, once the idea makes sense, compare the current offers and pick the one that suits you. Meanwhile, keep an eye on expiry dates, since most free bets only last a few days. Above all, only bet what you can afford to lose.
About this video: Matched Betting Explained
Matched Betting Explained shows how to turn a bookmaker free bet into cash whatever the result, using a real step-by-step example.
First, the video covers the qualifying bet. You back Arsenal to beat Chelsea with £10 at William Hill, at 2.0. Then you lay Arsenal on the Betfair exchange at 2.1, which means betting that they won’t win. With a lay stake of £9.76, you’re down just 73p whatever happens.
Next, your free bet arrives. You back Leeds against Manchester City with it at 5.0, then lay Leeds at 5.1 with a lay stake of £7.92. As a result, you lock in about £7.50 whatever the score. After the 73p qualifying loss, that £10 offer makes you nearly £7.
Finally, the video explains how to get started. Matched betting is legal in the UK, and a calculator works out the lay stakes for you. In addition, services like OddsMonkey and Outplayed list offers with step-by-step guides. You’ll just need an exchange account and a little starting money.
However, rules and offers change. For that reason, we check every video against the Gambling Commission and other official sources. In fact, we last checked this one on 13 October 2026.
Read the transcript
Matched betting turns bookmaker free bets into cash, whatever the result. Let's walk through a real example.
Say William Hill offers new customers a ten pound free bet when they bet ten pounds. Arsenal are playing Chelsea, and Arsenal are two point oh to win.
First, the qualifying bet. You back Arsenal to beat Chelsea with ten pounds at William Hill. That's your back bet.
Then, on the Betfair exchange, you lay Arsenal at two point one. Laying means betting that Arsenal will not win, so a draw or a Chelsea win both pay out. A lay stake of nine pounds seventy-six balances the two bets.
If Arsenal win, you're up ten pounds at William Hill and down ten pounds seventy-three on Betfair. If they don't win, you lose your ten pounds at William Hill, but win nine pounds twenty-seven on Betfair after commission. Either way, you're down just seventy-three pence.
Now your free bet arrives. Find a game coming up soon, for example Leeds against Manchester City, with Leeds at five point oh to win. Just like before, you back Leeds with your free bet at William Hill, then lay Leeds on Betfair at five point one, with a lay stake of seven pounds ninety-two.
Whatever the result, you lock in about seven pounds fifty. Take off the seventy-three pence qualifying loss, and that ten pound offer has made you nearly seven pounds.
Matched betting is legal in the UK. A calculator works out the lay stakes for you, and services like OddsMonkey and Outplayed list every offer with step-by-step guides. You'll need an exchange account and a little starting money.
Eighteen plus. Please gamble responsibly.
More video guides
In addition, each of these short guides explains a related idea in plain English. So, once you have watched this one, pick the next topic you need. For example, the calculator walkthroughs show each tool step by step. Similarly, the explainers cover the key ideas behind each offer. Finally, every video has chapters, so you can jump straight to the part you want.
18+ only. Gambling can be addictive; please play responsibly. Free, confidential help: BeGambleAware.org or the National Gambling Helpline on 0808 8020 133.