How to Start Matched Betting
- The three things you need before your first bet
- How bookmakers and exchanges differ
- How much starting bankroll you need
This guide covers how to start matched betting from scratch. Before placing your first matched bet, you need three things: a bookmaker account, a betting exchange account, and a small starting bankroll. This guide walks you through each one.
Bookmaker Account
Where you place back bets and claim free bet offers. Start with 1-2 major bookmakers.
Exchange Account
Where you place lay bets to cover the other side. Smarkets or Betfair Exchange.
Starting Bankroll
Calculate the cash stake and exchange liability for each stage. Errors or unmatched bets can cause losses.
1. Bookmaker accounts
Bookmakers are where you'll place your back bets (betting on something to happen). Most of the major UK bookmakers offer sign-up free bets. Check your eligibility, the terms, and both calculated outcomes before you choose an offer.
Common bookmakers with sign-up offers include Bet365, William Hill, Paddy Power, Betfair Sportsbook, and Coral. You don't need to sign up to all of them at once — start with one or two and add more as you gain confidence.
2. A betting exchange
A betting exchange is where you'll place your lay bets (betting against something happening). Unlike bookmakers, exchanges let you bet against outcomes by matching you with other punters.
Smarkets and Betfair Exchange are examples of exchanges. Check the commission that applies to your account and market. Enter that rate in the calculator.
You only need one exchange account to get started.
Check the exchange before either bet
| Bookmaker | Exchange | |
|---|---|---|
| Purpose | Place back bets (bet FOR an outcome) | Place lay bets (bet AGAINST an outcome) |
| Your action | Claim free bets and promotions | Cover the other side of your bet |
| How they profit | From customers who lose bets | Commission under the account and market terms |
| Examples | Bet365, William Hill, Paddy Power | Smarkets, Betfair Exchange |
3. Starting bankroll
You need money in both your bookmaker and exchange accounts to place bets. Calculate the bookmaker stake and exchange liability for each stage. There is no fixed amount that covers every offer. Errors, changed odds, and unmatched bets can put that cash at risk.
Wait for settlement and record the actual result before you use the funds for another offer. A larger bankroll does not guarantee a larger profit or protect you from a loss.
4. Keep records
Track every bet you place, every offer you complete, and your running profit. A simple spreadsheet works well. This helps you:
- Know exactly how much profit you've made
- Spot any mistakes quickly
- Stay organised when working through multiple offers
Tips before you start
- Use your real details when signing up to bookmakers. They verify your identity and will close accounts with fake information.
- Read the offer terms carefully. Pay attention to minimum odds, time limits, and wagering requirements.
- Start small. Do your first couple of offers with small stakes until you're confident with the process.
- Don't rush. Mistakes happen when you hurry. Double-check your bets before confirming.
Key takeaways
- You need both accounts and enough cash for the calculated stake and liability
- Check your account's commission and the available lay price and amount
- Start with one or two bookmakers and add more as you gain confidence
- Keep records of every bet — a simple spreadsheet is all you need
Ready to start? Browse our offer guides.
Use the current offer list to choose a guide. Check its evidence panel and current terms before you deposit or bet.
See all offer guides