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Matched betting turns the free bets bookmakers give away into reliable, tax-free profit. Done carefully it carries very little risk, though it is never completely without risk.
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Back and lay bets
A BACK bet is betting something WILL happen (your normal bet at a bookmaker). A LAY bet is betting it will NOT happen (placed on a betting exchange). Cover both and you've bet on every outcome.
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Why it's low-risk
By backing a selection at a bookmaker and laying the same selection on an exchange, your two bets cancel out. You lose a tiny amount on the qualifying bet, then extract most of the free bet's value as profit.
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What you'll do
Sign up to each bookmaker, place a small qualifying bet, receive your free bet, and convert it to cash. Work through the offers below in order.