In this tutorial, you are going to put everything you’ve learnt so far into practice and place a Matched Bet with Coral. This Matched Bet is going to consist of two parts, a Qualifier Bet and a Follow Up Bet. Don’t worry about them right now… everything is explained below. Both parts will involve a BACK bet and a LAY bet.
In order to place a LAY bet you will also need to register and create an account with Betfair. This is a betting exchange you will be using to place all your future LAY bets. When depositing money into your Betfair account I recommend using a credit/debit card as PayPal deposits are charged at 2%. I would also recommend depositing £100 into this account and I’ll explain more about this as we progress.
Here you are guaranteed to earn about £12 – £15 by completing this Matched Bet with Coral – which isn’t a lot of money but it’s just a small one to get us started.
As this is your first matched bet, it might take you a little longer than usual; about 10 minutes. Once you are used to the process it’ll take you about 3 minutes per Matched Bet and you’ll be pleased to hear that instead of earning £12 – £15 you can earn as much as £200.
Coral are a well known bookmaker. They have a special offer for new customers that they call “Bet £5 and Get £20 in Free Bets“. In other words, if we stake £5 of our own money (a qualifying bet) Coral will give us £20 worth of free stakes to bet with.
A qualifying bet is the name we give to a Matched Bet that triggers a promotion. In other words, by staking £5 of our own money with Coral you’ll qualify to receive £20 in free bets.
£5 isn’t a lot of money to lose (I’d be quite happy to lose £5 if it meant I then got £20 in free bets) but by using Matched Betting to BACK and LAY we’re going to make sure we keep as much of that £5 as possible and still qualify to receive the free £20.
Once we’ve received our free £20 in bets, we will learn how to use Matched Betting to turn it into guaranteed free cash.
IMPORTANT: By learning this Matched Betting technique you’ll be able to use it repeatedly on larger offers and opportunities where the qualifying stake is higher (£25, £50, £200!).
You’ll use this technique on a regular basis throughout the month and you’ll make a sustainable second income by doing so.
STEP 1 – REGISTER
Click on the green ‘Bet Now’ button, you will be taken to a page with a registration form on it. Fill out the form to complete registration.
When registering, remember to opt in to receive offers and promotions via email – you’ll need these to make free cash on an ongoing basis!
It’s free to register as a customer. Bookmakers always ask for your personal details so that they can ensure you are over 18 (the legal age for gambling) and are a UK resident.
If you already have a customer account with Coral, you’ll not be able to sign-up for another account in your name (it’s strictly one account per customer). You could get your girlfriend/boyfriend, husband/wife or brother/sister to try it though. Either way, this tutorial is still worth reading.
STEP 2 – DEPOSIT
It’s time to deposit some cash – a fiver to be precise, because we only need to bet £5 to get £20 in free bets. Coral has several options to choose from – the easiest of which is credit / debit card. Pick an option, complete the details and deposit £5.
You’ll notice that your account balance now has £5 in it. Your ‘free bets’ balance should be £0 and it will stay as £0 until we place a £5 matched bet.
STEP 3 – DECIMAL ODDS PLEASE!
As Matched Betters, we like to work in ‘decimal odds’ instead of fractional odds (3/1, 5/2 etc…) because fractions are bloody confusing! The Coral website is designed to display odds as fractions but there is a way of changing the settings so that you get to see the odds as decimals.
Make sure you’re on the Coral homepage (click on the Coral logo if you’re not sure) and then right at the top of the page, in the right hand corner; you can see the date, the time, then it says “decimal | fractional“. Click on the word “decimal” and you’re done.
All of the odds will now be displayed in decimal format.
STEP 4 – NAVIGATE TO THE SELECTION
The best selections will be made available daily to members via our Facebook group, in this example we will be looking at Augsburg v Liverpool but just contact me by requesting access to the group when you get to this step and I’ll send you my preferred selection of the day. At this point we now want to find the suggested selection for the Matched Bet. In other words we want to visit the Coral website and navigate to where we can place a BACK bet on Liverpool and do the same for a LAY bet at Betfair.
DO NOT PLACE THE BET YET, WE WANT TO CHECK THAT THE BETFAIR ODDS ARE AS WE HOPED FOR.
So keep your Coral window open and navigate to the same selection on Betfair.
We can see that the LAY price is exactly what we had expected it to be so we now need to refer BACK to the calculator before placing our bet transactions.
STEP 5 – PLACING YOUR QUALIFYING BETS
Refer again to the calculator to double check all of our calculations before placing the bet.
Step 1 – We need to place our £5 bet at Coral. Place your bet
Step 2 – The calculator tells us that at odds of 2.08, we should LAY £5.17 at Betfair (the liability should be £5.58 for this bet). Click the LAY 2.08 selection and put in the BACKER’s stake £5.17. Click place bet and confirm it.
TIP- IF THE THE ODDS HAVE CHANGED SLIGHTLY, JUST ENTER THE AMENDED ODDS INTO THE CALCULATOR AND IT WILL RECALCULATE THE ADJUSTED STAKES FOR YOU.
We have now placed our qualifying bet.
QUALIFICATION BET RECAP
We found the best value between odds of 1.5 and 3.0. We then opened up the calculator to find out all of the calculations we needed for this bet. We checked our calculations and then placed our BACK bet at the bookmaker, followed by the LAY bet at Betfair.
Regardless of the outcome of the Football match, I am guaranteed to make 8p or 9p loss – but more importantly we have activated £20 in free bets.
STEP 6 – TURNING YOUR FREE BET INTO GUARANTEED CASH
Once we have placed our qualifying bet, we will see that we are given our £20 free bet (remember this is given as 4 x free £5 bets)
We now need to find our next Matched Betting opportunity so that we can retain as much of that £20 as possible (as a rule of thumb, look to retain around 75% and 80% of the free bet amount, so between £15 and £16 in this case).
STEP 7 – PLACING YOUR FREE BETS
Remember the Coral free bet comes a 4x £5 free bets, so we just place the 4 free bets on the same selection.
Our Facebook group again publishes the best events of the day to use for the free bet. In this example we are going to look at Bradford v Colchester, with odds on Colchester at BACK 5.5 and LAY 5.8.
I then place the free £20 bets on that selection. Remember we will need to place this bet 4 times as we have 4 free £5 bets not one £20 free bet.
I then went back to Betfair and LAYED the amount shown in the calculator on Colchester, £15.65.
WE HAVE NOW PLACED ALL OF OUR BETS AND JUST NEED TO WAIT FOR OUR BETS TO SETTLE.
Below is the calculation to show how we made £14.78 from this offer. Remember this is just the tip of the iceberg, but you have learnt a new technique which will help you make a sustainable second income.
– We placed our qualifying bet. This lost us 9p regardless of the outcome.
– This triggered our £20 free bet
– We looked for a matched betting opportunity of odds above 5.0
– We made £14.78 from this bet.
So our total profit was:
£14.87 – £0.09 = £14.78 (Beats stacking shelves right?)
To unlock a whole host of other offers don’t forget to sign up to our exclusive members’ area where you will find not only all the latest new customer offers, but more importantly the regular existing customer offers which is where we sustain our income from matched betting.