Video Summary

Making Money with Match Betting in 2024

To make five figures a year, you need to understand the concept of match betting. In this process, you need to place back and lay bets, which are the opposite of each other. A back bet is when you bet on something to happen, while a lay bet is when you bet against something to happen. For example, if you bet with a friend that you can hold your breath for 5 minutes, you are the backer, and your friend is the layer.

It's essential to understand betting odds, which are displayed as fractions or decimals. For example, a bookmaker offers odds of 2.5, and if you place a back bet, your payout will be £25, with a profit of £15.

In match betting, you need to place a back bet with a bookmaker and a lay bet with a betting exchange. For example, you place a back bet on Nottingham Forest at odds of 2.5 and a lay bet at the same odds with a liability of £10. If Nottingham Forest wins, your back bet pays out, and your lay bet loses £5, resulting in a break-even outcome. If they don't win, your back bet loses, but your lay bet returns your £10 stake.

The key to making money is to use free bets offered by bookmakers. When you place a back bet, you qualify for a free bet, which you can use to place another bet. This process can be repeated multiple times to generate a profit.

For this, you need to:

1. Create an account with a bookmaker like Coral.
2. Deposit £5 and change the odds display to decimal odds.
3. Open an account with a betting exchange like Matchbook.
4. Place a back bet on a sports event and a lay bet on the same event with Matchbook.
5. Qualify for a free bet with the bookmaker.
6. Use the free bet to place another back bet and lay bet.
7. Repeat the process to generate a profit.

By understanding match betting and using free bets, you can make significant profits in 2024.