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Matched betting requires an account with a bookmaker and also a betting exchange. A matched bet involves placing a back bet at a bookmaker while placing the opposing lay bet at a betting exchange. Profit is made when the odds at the bookmaker are higher than the betting exchange. Larger profits can be made by using bookmakers free bets and offers. Matched betting isn't gambling as it is based on odds matching and not to chance which makes bets placed risk free. Matched betting along with all other betting is tax free in the UK.
Matched betting can seem a little confusing at first as it did with myself. I have found that many people who I have told take a look and dismiss it straight away assuming it's too complex. Believe me it's not, after placing just a few bets it becomes simpler and simpler. I look back now and think how ever did I find this confusing?
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