William Hill are one of the top UK bookmakers and offer new customers £30 in free bets when they sign up. To claim this offer a new customer's first bet must be £10 on odds of 1.51 or more. For matched bettors this new customer offer from William Hill gives the opportunity to make around £21 in guaranteed profit.
Matched Betting Offer Level: EASY
As this is the second offer in our Beginner's Guide to Matched Betting , we go through the steps in lots of detail so you can understand what you are doing and learn good matched betting habits from the very start. Consequently, if you read through everything carefully this offer may take you up to an hour to complete. However, as you become more experienced, you will be able to complete offers such as this within ten minutes.
CLICK HERE and you'll be automatically directed to the correct page for the new customer offer at William Hill.
The special William Hill sign-up page will have a promotional offer stating "New Customer Offer. Bet £10 Get £30 in Free Bets. Bet Now". If you click the "Bet Now" button you will be taken to William Hill's main page. Then in the top-right corner click the green 'Join Now' button and the new customer registration form should pop up.
IMPORTANT! During registration you must make sure you use the Promotion Code C30 in the relevant box. You will not qualify for the promotional offer if you do not do this!
Fill out the form with your details.
(All bookmakers tend to ask for the same personal details as they need to make sure you are over 18 and are a UK resident).
TOP TIP: As you're registering don't forget to opt in to receive offers and promotions from William Hill via email as these regular customer offers help you make even more profits matched betting in the future.
After registering William Hill can sometimes inform you to check your email for verification purposes. (Click the link in your email to verify your account).
TOP TIP: This would be a good time to note down your login details in the relevant section of the Wild Dog Profits Tracker. If you haven’t already you can download the tracker here. (MS Excel required).
Although we endeavor to provide up to date information on the bookmaker new customer offers we always recommend to double check the terms and conditions of any offer as you register just in case there are any recent changes. If you see any changes in a promotional offer's details or terms and conditions then please drop us an email to email@example.com
If not prompted on registration you can find the deposit button at the top right-hand corner of the William Hill website.
William Hill one of the top bookmaker for making long-term matched betting profits from. Due to this we highly recommend your first deposit to be £20 or more.
TOP TIP: If you have a larger starting cash float available for matched betting and can do a first deposit of £50, we have received feedback from our users that William Hill privately email or message you with a second promotional offer (such as Bet £10, Get £20) a few days after registering and placing your first bets. You can see an example of such a message that came via mobile to the right.
To ensure that you will be eligible for the new customer offer you must make your first deposit into William Hill via UK debit or credit card.
TOP TIP: After depositing you should see the amount you deposited appear near the top of the William Hill homepage. There will not be any free bets available yet until after we do our first bet.
In the UK fractions (10/1, 20/3, 5/2 and similar) are the standard format bookmakers use to display their odds. As matched bettors though we prefer to work with decimal odds (personally we find them much easier to understand anyway!). Plus our matched betting calculators only work with decimal odds. Fortunately for us though the majority of bookmakers offer the option to switch to use Decimal Odds on their website.
On William Hill you can do this by using the drop-down box just to the left-hand side of the Betslip labelled 'Price Format'. The arrow in the snapshot below shows where this drop-down box is.
TOP TIP: Take some time now to look around the William Hill website and get used to where you can find the football and horse racing; where the betslip appears and how to check your private messages (as this is where additional promotions may get sent).
Leave the William Hill website open and proceed to the next step.
If you already registered with Smarkets please login now. Check your balance is at least £50. (To complete the entire offer you may need to add more to this balance later).
If you haven't already registered with Smarkets then you can CLICK HERE and you'll be automatically directed to the correct page to sign-up to Smarkets Betting Exchange. Smarkets gives all new customers a £10 welcome bonus. To be eligible to receive this bonus you need to deposit a minimum of £20 with a UK debit/credit card when you register. We highly recommend depositing at least £50 into Smarkets though (and even £100 if you have the cash float) as you will need around this amount in the exchange to do your qualifying matched bet and first profit matched bet easily. (The £10 bonus will be given to you when you "lose" your first £20 out of Smarkets. This money is never actually lost though - just relocated to one of your bookmaker accounts instead. Effectively Smarkets are just handing us £10!)
TOP TIP: If you haven't used Smarkets yet we recommend to take the opportunity now before we place our first bets to look around their website. The search bar at the top is a useful feature. Also try clicking on one of the BLUE ODDS boxes and you will see the AGAINST betslip pop up. DO NOT put any stake in yet, just have a look around at where everything is.
As we are matched betting we only place lay bets at betting exchanges, which means at Smarkets we only look at and use the odds that appear in the blue boxes. #bluebox!
The first type of matched bet we are going to do is referred to as a Qualifying Bet. This type of matched bet is specifically made in order to release a free bet, bonus or other promotion from a bookmaker.
As with all types of matched bets a Qualifying Bet is made up of two parts, a back (for) bet at the bookmaker (in this instance William Hill) and an equivalent lay (against) bet at the betting exchange (Smarkets). An example of a Qualifying Bet would be placing a back (for) bet at William Hill for Manchester United to win at odds of 1.60 and then placing a lay (against) bet at Smarkets for Manchester United not to win (i.e. saying they will lose or draw) at odds of 1.62. For the Qualifying Bet the closer the back odds and lay odds are that we can find the better (e.g. 1.60 and 1.62 are closer and therefore a better match than 1.60 and 1.75).
As matched bettors we are always trying to find the closest MATCH possible between the back odds and lay odds for all types of matched bet.
A – Find a Back (for) Bet on William Hill at odds of 1.51 or more
It's generally easier when doing a Qualifying Bet to find a good match between the bookmaker and exchange when the odds are below 3.0. So ideally you need to look for a back bet that is somewhere between the odds of 1.51 to 3.0.
It's entirely up to you what sport you place your back bet on - football, tennis, horse-racing etc. If you are thinking to bet on horse racing, remember to choose a race that is at least one hour away from starting (otherwise the odds can start changing very quickly which makes it slightly harder to place bets as a beginner matched bettor). Do not go to the in-play section of the William Hill website - only advanced matched bettors bet in-play on live games.
TOP TIP: For those who are new to Matched Betting, or new to any kind of betting, we recommend you start by looking at odds from football games in the Premier League, Champions League or other popular UK and top European leagues (such as Spain, Italy, France etc.) to place your bets on. Avoid little-known football leagues in countries like Ecuador, Morocco and Japan.
Below you can see a snapshot from William Hill for odds on some Premier League games. We will use this as an example for you to follow along with. On the snapshot we've highlighted a few possibilities from the Match Winner (90 minute) market that are in the range of odds we are focusing on to do our Qualifying Bet (1.51 to 3.0).
TOP TIP: The Match Winner (90 minute) market is always the best place to start, but if you can't find any good odds in this market you can click on the +258 Bets (or similar number) button in the last column to see all the other markets available for each game. Other markets to browse for good odds are - Both Teams to Score, Half Time/Full Time, Half Time Results, Over/Under 2.5 Goals (or alternative goals) and Correct Score.
When you've found some potential odds on the football at William Hill (as we have in the example above), note down the three LOWEST options available (for ours it would be Arsenal to win at 1.67; Southampton to win at 1.85; and Swansea to win at 2.15) then leave the William Hill website open with those odds displayed and head over to Smarkets in another tab on your browser.
B – Find a good matching Lay (against) Bet on Smarkets
Now we are going to try to find a good matching lay (against) bet on Smarkets #bluebox! to one of the possible back bets we just identified on William Hill.
It's best to start looking for a good match by using the the LOWEST back bet odds you found at William Hill (important note: rememebr your back odds should not be 1.51 or lower though). In our example, the lowest back bet odds we could see at William Hill were 1.67 for Arsenal to win vs. Watford. Now we need to find the SAME game in Smarkets and see what the lay (against) odds are for Arsenal (i.e. for Arsenal NOT to win and to lose or draw).
TOP TIP: To reach the right game at Smarkets quickly you can just start typing the team name (such as 'Arsenal') in the search bar at the top of the page, and the game will appear in a drop down list.
Just click on the game and the odds will open, with the Match Winner (90 Minute) Market at the top. For other markets in that game (such as HalfTime/FullTime and Correct Score) you just need to scroll down the page.
So once you've found your correct football game, you should now see something similar to the screenshot below, with all the available odds for the game you're interested in. #bluebox!
Now there are four key things to check when you first open a game or race's page:
No. 1. Are you in the correct market? In this case, the Match Winner Market. This may seem silly but it is always worth double checking.
No. 2. Double check you are on the correct team's section before looking at the lay odds. In our example the correct team's section (Arsenal) is quite obvious because they are expected to win the game relatively easily, so the lay odds are very different between each team and for the draw as well.
No. 3. Make sure you are checking the lay odds only - these are the odds in the dark blue box. Ignore any odds in the dark green box and the grey boxes, we don't need them. #bluebox! The lay odds for Arsenal in our example are 1.70.
No. 4. Check that there is enough liquidity available. Good liquidity is at least TEN TIMES what your back bet stake at the bookmaker will be or higher. (So for this William Hill Qualifying Bet example our back stake will be £10. So 10 x 10 = a minimum of £100 liquidity is needed at Smarkets). The liquidity is displayed just below the lay odds dark blue box. In our example there is very good liquidity: £1994.
TOP TIP: These four key things to check can be summarized as: Market >> Outcome >> Lay Odds >> Liquidity. Try to remember these.
Looking at these key things will eventually become second nature as you work through our guide. We are just emphasizing them now to help you as much as possible and get you to continue good habits.
IMPORTANT! If you have low liquidity on Smarkets (£100 or less) we would recommend disregarding the game you've found immediately. You will need to look at your next potential back bet you noted down or return to William Hill and look again for more options.
In our example the back (for) bet odds of 1.67 at William Hill for Arsenal to win and the lay (against) bet odds of 1.70 at Smarkets for Arsenal NOT winning (and therefore losing or drawing) provisionally seem like a good match for a Qualifying Bet.
How do you know if you've found a good match between your odds though? You need to use your Qualifying Bet Calculator.
C – Use the Qualifying Bet Calculator to see if you have a good match
So how do we check if we've found a good match between the back bet odds at William Hill and the lay bet odds at Smarkets?
We use our QUALIFYING BET CALCULATOR to calculate what our Qualifying Bet loss will be if we place these two bets. If the Qualifying Loss is small then we've got a good match to work with.
TOP TIP: Always have your calculators ready to go as they are key to everything. We always have our calculators open on a separate tab on our browser so we can refer to them quickly. You can open the matched betting calculators in a separate tab by CLICKING HERE.
There are four things you need to input into your Qualifying Bet calculator:
- the back stake (which is £10 at William Hill);
- the back odds (in our example they are 1.67 for Arsenal);
- the lay odds (in our example they are 1.70 against Arsenal);
- and the commission percentage at the exchange (for Smarkets this is always 2%).
Your calculator should look similar to the one below, but with the back and lay odds you are considering to use for your chosen event.
According to the calculator in our example, a £10 back bet at William Hill with odds of 1.67, matched to lay odds at Smarkets of 1.70 would require a lay stake amount of £9.94, with a liability of £6.96.
Placing these bets would then result in a QUALIFYING LOSS of just -£0.26!
TOP TIP: When using the calculators double check you've entered everything correctly.
So in this example, we managed to find a relatively good match on the first football game we looked at. Sometimes it can take a little time to find a good match so you just have to work your way through one game or event at a time comparing the odds. Over-time you will 'get your eye-in' for this and find matches quicker and quicker.
TOP TIP: For a £10 back bet you are ideally aiming for a qualifying loss of -£0.75 or less. A qualifying loss of -£0.45 or less would be considered to be very good. If you find a good match between your back and lay odds that gives a small Qualifying Loss we always recommend going for that match rather than spending too much extra time looking for that slightly smaller qualifying loss.
Hopefully you have also found a good match between the back odds at William Hill and the lay odds at Smarkets #bluebox, which will mean you are now ready to place your Qualifying Bet.
D – Place the back (for) bet at William Hill, then the lay (against) bet at Smarkets
Before placing any bets, the first thing we need to do is look at the Qualifying Bet Calculator again. Specifically, what amount it's telling us to use for our lay stake, and how much liability we need in Smarkets.
Based on what the Qualifying Bet Calculator tells us for our Arsenal example, we will prepare to do the following:
Place a back bet of £10.00 on Arsenal to win at William Hill at odds of 1.67.
Then immediately after this we will place a lay bet of £9.94 against Arsenal winning at Smarkets with odds of 1.70. Our liability at Smarkets will be just £6.96.
IMPORTANT! It is vital just before you place any bets to check that you have enough balance in Smarkets to cover the liability of the lay bet you are about to do. If you have a balance of £50 in Smarkets then the maximum liability you can have is also £50. In our example, we will need to have a liability of just £6.96 to place our lay bet so we are well within a £50 balance. Always check before placing any lay bets that your Smarkets balance is greater than the estimated liability displayed on the calculator.
You should now be ready to place a back bet of £10 at William Hill along with your lay bet at Smarkets, using the lay stake your Qualifying Bet Calculaotr is showing based on the matching odds you have found from your selected game or event.
So let's get our bets ready to place.
At William Hill, just click on the odds you want to bet on and the odds you selected will appear in the Betslip on the right side of your screen.
Double check the the bet details (team and odds) are correct on the Betslip and then write 10.00 in the stake box. Don't press place bet yet! Our Betslip example is shown below.
TOP TIP: On rare occasions, or when a game is just about to start, the odds can change in the Betstlip from what they were. Although the bookmaker usually informs us when the odds change, it is a good habit to double check them. If the odds do change as you are getting ready to place your bet, don't panic. All you need to do is update the odds in your Qualifying Bet Calculator, recalculate and if the Qualifying Loss is still good just continue as you were. If the odds change causes the Qualifying Loss to increase substantially to much more than -£0.75 then we just recommend to look for a new and better match between the odds on a different market, game or horse race.
Leave the William Hill betslip with the stake amount in, and go into your Smarkets tab.
In Smarkets, click on the dark blue box which has the lay odds you want to use. A grey betslip will appear directly underneath the odds with a blank space for you to write your lay stake (provided from your Qualify Bet Calculator). Again do not click place bet yet. Your Smarkets screen should look similar to the screenshot below, where you can see we've put in our lay stake of 9.94.
TOP TIP: In the Smarkets drop down betslip, the most important thing to check is that at the top left of the betslip the word AGAINST appears in blue. This is Smarkets way of making it clear you are about to place a lay bet. You can see in our example it shows AGAINST ARSENAL.
Once you have typed in your lay stake at Smarkets, everything is ready and you can return to your William Hill tab.
You will now do the following in succession:
- Click 'place bet' at William Hill, and make sure the bet goes through successfully. William Hill will confirm the bet has been placed, and it will then appear in Open Bets section.
- As soon as William Hill confirms the bet, go straight to Smarkets and click Place Bet, the button will change to say Confirm Bet and then click that too. Your lay bet will then be placed.
IMPORTANT! We always place the back bet at the bookmaker first and then the lay bet at the exchange second. Always.
Once your bet has been confirmed on Smarkets the lay bet will appear on the right side of your screen in the section called 'YOUR BETS', under the 'ALL ACTIVE BETS' drop down menu section. You now want to check that the amount you staked (9.94 for our example) has appeared in the column named 'MATCHED', as shown for our example below:
If there was enough liquidity available before you placed your lay bet then the lay stake amount you used (ours was 9.94) will be fully 'matched' (or accepted) immediately by Smarkets. This is why it is so important to check the liquidity before you go to place your bets at the exchange. If the liquidity is low Smarkets may not accept your entire lay stake amount immediately and this just makes life complicated! So avoid it altogether. In our example there was over £1000 in liquidity when we came to place the bet which was way more than enough.
CONGRATULATIONS! You've now done your Qualifying Bet with William Hill!
William Hill will now release £30's worth of free bets!
Before we start making our guaranteed money with our Profit Bet, we need to be clear with what we've just done, and what will happen based on the outcome of the game/race we've bet on. For instance, in our example one of three possible outcomes can occur in the game:
Arsenal will win vs. Watford;
Arsenal will draw with Watford or;
Arsenal will lose to Watford.
If you look at the bottom of the Qualifying Bet Calculator there is a section called 'Summary of the Settled Bet'. This section tells us where our money ends up being located (the bookmaker or the exchange) based on the outcome of the event. It also shows that no matter the outcome we will still have exactly the same Qualifying loss.
Let's break this summary down further so you can get a good grasp of what's happening.
In our example the first outcome that could happen would be Arsenal winning.
So if you started with a £10 deposit in William Hill, placed your £10 back bet and that back bet won, your balance at William Hill will now consist of your original £10 stake (it's been returned) plus whatever your winnings were. At Smarkets though, your pre-Qualifying Bet balance will be down by the amount you were liable for on your lay bet because your lay bet lost. (So if in our example at Smarkets we started with a £50 balance and lost the £6.96 that we were liable for if Arsenal won, our Smarkets balance is now £43.04).
What happens if the outcome was a draw between Arsenal and Watford?
So if you started with a £50 balance in Smarkets, and your lay bet won, you will be up by the amount that you originally staked on your lay bet minus the 2% commission to Smarkets. (In our example we staked £9.94. So we won that but then gave Smarkets 2% of this, so we end up with £9.74 extra in our balance - so a new total balance of £59.74). At William Hill, if your starting balance was £10, then your William Hill balance will now be £0.00.
What happens if Arsenal lose to Watford?
The exact SAME thing as what happened with the draw.
So HOW your lay bet wins doesn't matter - the same thing happens for both outcomes. You will end up with extra money in Smarkets, a balance of £0.00 in William Hill (if your starting balance was £10), and the difference between the two will calculate to be your Qualifying loss (which for us was -£0.26).
TOP TIP: As a Matched Bettor it is useful to understand that although whatever outcome happens doesn't matter to us in monetary terms (i.e. we make the SAME qualifying loss and the SAME profit from the free bet whatever happens in a game or race), we do tend to prefer it when our lay bet wins. This is because we end up with a larger balance in Smarkets to be placing future lay bets with and because the bookmaker believes we are losing money and are therefore a good customer.
REMEMBER - For our Qualifying Bet we already know BEFORE the game/race even happens exactly what our Qualifying Loss will be and know it will be the SAME LOSS WHATEVER THE OUTCOME of the game/race is. What we don't know is WHERE money will be moved around to. The bookmaker or the exchange? We can't know this until after the game/race has happened. Anytime the back bet wins it ends up in the bookmaker. Anytime the lay bet wins it ends up at the exchange.
We are almost ready to do our Profit Bet and make some money! Before we do though, you need to add the Qualifying Bet you just made to your Wild Dog Profits Tracker . You are best to do this immediately after you've placed your Qualifying Bet.
If you haven't already you can download the Wild Dog Profits Tracker here
If you have already used the tracker for the Coral offer then all you have to do is add this new Qualifying Bet into the Bet.Tracking.Records tab in Excel.
If you haven't already used the tracker then all you need to do is click the tab in the tracker for "Bet.Tracking.Records" where you will see some example entries for the previous Coral offer. Edit the bookmaker name to William Hill and then edit the rest of row for the example Qualifying Bet (i.e. the bet details, the odds, stake amounts, liability and qualifying loss) with your Qualifying Bet details.
The records tracker is set up to record your overall profits from Matched Betting. We highly recommend not skipping this - it is very important in the long-term to track your bets for sustained and successful Matched Betting.
Ok so we are finally here - money making time!
We are now going to make some guaranteed profit from the £30 in free bets William Hill just provided us. William Hill provides the £30 free bet as three individual £10 free bets. We need to do each of these free bets one at a time. How do we do this? In a really similar way as to how we did the Qualifying Bet - but with a few slight differences.
Let's get started!
A – Find a Back (for) Bet at William Hill with odds between 4.20 and 6.10
A key difference in the process when doing the Profit Bet is that you actually want to look for higher odds to place your bets on than we did for the Qualifying Bet. We want to try to find a back bet with odds of at least 4.20, which have good matching odds on Smarkets if we want to make a good profit from our free bets.
TOP TIP: For free bets, the higher the odds and the closer the match the more profit you make.
HOWEVER...how high you can actually can go depends on how big your starting cash float is, or specifically, how much you have in your balance in Smarkets. Why's this? Well, the higher the lay odds are the higher the liability will be. If we don't have that liability available in our Smarkets balance we won't be able to place the lay bet. Have a look at the table below as an outline for what we mean.
From this table you can see that as the lay odds increase so does the liability needed - but so too does the profit you make from the free bet. Remember this is the profit you make no matter the outcome of the event. If you only have a balance of £40 in Smarkets you can't place a lay bet at odds of 7.1 because you don't have enough to cover the £51.69 liability. Instead you have to compromise a little bit on your profit and use lower odds (around 5.1 if your Smarkets balance is £40) so that you can successfully place your lay bet at Smarkets.
For now if you've only got about a £50 balance in Smarkets we recommend looking at odds between 4.20 to 6.10.
So let's start looking for possible back bets at William Hill.
TOP TIP: We highly recommend doing your profit bets on the same sport that you did your Qualifying Bet on. As we did football for our Qualifying Bet example we will only look at football for our Profit Bets too. (i.e. don't do your Qualifying Bet on football then your Profit Bet on the horses).
So let's head straight to the football and have a look what games are coming up. Use the navigation menu on William Hill to go to the football section. We'll look at the Premier League games again first (though this could be any top European League or popular international games too).
In the screenshot above we've highlighted some potential options from the Premier League Match Winner (90 Minute) Market that we could consider using for our Profit Bet. As we mentioned before, if you are looking for good odds and can't find any in the Match Winner Market, you can look in other markets for alternative options (e.g. Both Teams to Score, HalfTime/FullTime and Correct Score).
When you've found some potential odds on the football at William Hill, as we have in the example above, note down the three HIGHEST options available (for ours it would be Leeds to win at 6.50; Swansea to win at 6.50; and the draw between Arsenal and Norwich at 5.50). Now leave the William Hill website open with those odds up and head over to Smarkets in another tab on your browser.
B – Find a good matching Lay (against) Bet at Smarkets
From the potential odds we’ve noted down, let’s start with our optional HIGHEST back bet odds. For our example, we had two choices for our highest back odd; Leeds to win vs. Leicester at 6.50; or Swansea to win vs. Manchester United at 6.50. Let's see what Smarkets can offer for the lay bet odds for these games. Remember to use the search bar on Smarkets again to quickly find the game you want.
REMINDER! As you're looking for good matching lay odds, remember to double check the Market you are in; the outcome (team) you are looking at; that you're looking at the lay odds in the dark blue box; and the amount of liquidity available on those odds.
Here are the lay odds for Leeds (i.e. the bet against Leeds winning, and that they will lose or draw to Leicester)
Here are the lay odds for Swansea (i.e. the bet against Swansea winning, and that they will lose or draw to Swansea)
The liquidity on both games is good at over £200.
We can immediately disregard the Swansea City option. Why is this?
Well, we know the back odds for both these teams at William Hill are 6.50. Therefore we know instantly that the Leeds lay odds of 7.0 are substantially closer to these back odds than the Swansea City lay odds of 7.8.
(i.e. 6.50 and 7.0 are closer matching than 6.50 and 7.80 are).
REMEMBER! The closer the odds are together the better the match is. The better the match the more profit you will make from the free bet.
To check how good the match is between the odds we have to input everything into our Profit Bet Calculator to see how much profit we would make if we placed these bets. This will indicate how good the match between the odds is.
C – Use the Profit Bet Calculator to see if you have a good match
On a separate tab in your browser you should already have your Profit Bet Calculator ready to go. If you don't then you can click here and the matched betting calculators will open in a new tab.
Make sure you are on the PROFIT BET CALCULATOR.
Now we are going to use this calculator to see how much profit we will make by backing Leeds to win over Leicester at odds of 6.50 on William Hill with our first £10 FREE bet, and laying the draw at Smarkets at odds of 7.0. You can do the same with the back and lay odds you've found to use.
You use the Profit Bet Calculator in exactly the same way we used the Qualifying Bet Calculator - just to make life easy.
REMEMBER! Double check the numbers you've typed into the calculator are correct.
According to the example calculator, a £10 FREE back bet at William Hill with odds of 6.50, matched to lay odds at Smarkets of 7.0 would require a lay stake amount of £7.88 and would give us a liability of £47.28 (i.e. a balance of at least £47.28 in Smarkets is required to place this lay bet). Placing these bets would then result in a Free Bet Profit of £7.72. This equates to a 77% profit extraction from the free bet.
TOP TIP: 77% profit extraction a good match between the odds. Really good matches are a 78% profit extraction or more, whilst OK matches would be a 73-77% extraction. Personally, we tend to not bother with anything that has less than a 72% extraction as there are usually better options out there with closer matches and a better profit. We may just need to hunt around a bit more to find them.
The liability needed (i.e. Smarkets balance required) for our example here is £47.28.
SMALL MATCHED BETTING STARTING CASH FLOAT? If you have a smaller starting balance in Smarkets for matched betting, it might be worth considering to find an equally good match with a lower liability. In our William Hill example above you could look at the back odds for the draw on the Leeds vs Leicester game or the back odds for the draw on the Swansea vs Manchester United game. The back odds for both are 4.20 (instead of 6.50) and would give you a lower liability if you found a decent lay odds match with either of them in Smarkets. We used to use lower odds like this for profit bets when we first started matched betting too. It won't be long before you grow your profits though and you will be laying at odds of 10.0 and more before you know it!
D – Place the back (for) bet at William Hill then the lay (against) bet at Smarkets
Before placing any bets the first thing we need to do is look at the Profit Bet Calculator again. Specifically what amount it's telling us to use for our lay stake, and what amount we need in Smarkets to cover our liability.
Based on what the Profit Bet Calculator tells us, we will now PREPARE to do the following for our Leeds vs Leicester example:
Placing a FREE back bet stake of £10.00 on Leeds to win at William Hill at odds of 6.50.
Then immediately afterwards placing a lay bet stake of £7.88 against Leeds winning at Smarkets at odds of 7.00. Our liability at Smarkets will be £47.28.
REMEMBER! Check you have enough balance in Smarkets in order to place your lay bet (for our example we need £47.28 in our balance at least).
You too should now be ready to place your first £10 FREE back bet at William Hill along with your lay bet at Smarkets, using the lay stake your Profit Bet calculator is showing based on the odds you’ve found.
So let’s get our bets ready to place now.
At William Hill just click on the odds you want to bet on, and your selected bet will appear in the Betslip on the right side of your screen.
Now in the Betslip you need to double check the odds are correct. Then, YOU MUST select to use one of your £10 free bets using the drop down arrow in the section below where you normally write your stake in. DO NOT CLICK PLACE BET YET!
TOP TIP: At almost all the bookmakers the BetSlip is where you choose to use your free bet or not. It is not automatic, you MUST ALWAYS SELECT to use the free bet. Keep this in mind when doing a Profit Bet, and ALWAYS SELECT TO USE THE FREE BET IN THE BETSLIP!
Our Betslip example is shown in the snapshot below, you can see we've selected the £10 free bet using the drop down arrow.
As we were using our free bet on a desktop computer, we had to write the stake amount into the betslip as well. (Basically we are saying to William Hill the stake should be £10.00 and it should be taken from the selected free bet).
TOP TIP: (reference only - still don't click place bet yet!). Each bookmaker varies on how to select and use the free bet. With some you have to write a stake amount in as well, others you don't. It can also vary between mobile and desktop at the same bookmaker. To deal with this the BEST PRACTICE we recommend is to always select the free bet ONLY and then try to place the bet without entering any stake amount. If this doesn't go through then you need to write the stake amount in the betslip, select to use the free bet again, and then click the place bet button.
Now leave everything as it is on William Hill, and go to your Smarkets tab.
As before, in Smarkets, click on the dark blue box which has the lay odds you want. A grey betslip will appear directly underneath the odds with space to type your lay stake amount (for our example it's £7.88). It will look similar to the screenshot below.
Once you’ve typed in your lay stake amount, DO NOT CLICK PLACE BET YET. Leave Smarkets as it is and return back to your William Hill tab.
Now do the following in succession:
- Making sure your FREE Bet is definitely selected, click place bet on William Hill. William Hill will confirm the bet has gone through successfully and it will show that the free bet has been used. The bet will then also appear in your Open Bets tab.
- As soon as William Hill confirms the FREE bet has been placed go straight to Smarkets and click Place Bet. The button will change to Confirm Bet, click this too.
The lay bet will then appear on the right side of your screen in the section called ‘YOUR BETS’ and the drop down menu section 'ALL ACTIVE BETS'. You must check now that in the column named ‘MATCHED’ the amount you staked (in our example £7.88) appears here.
If there was enough liquidity available before you did the bets the lay bet will be fully matched (accepted) immediately by Smarkets. Again, this is why it is so important to check the liquidity before you place your bets at the exchange. (Remember we had over £200 in liquidity available to do our Leeds lay bet).
TOP TIP: You may have noticed we always say to do the back bet first at the bookmaker and then the lay bet afterwards at Smarkets (once you know the back bet has gone through, and has been confirmed at the bookmaker). This is an essential matched betting practice to get in the habit of now!
CONGRATULATIONS! You’ve now done your first Profit Bet at William Hill and are now in profit!
What's more is that there are still TWO more Profit Bets to do with the remaining two £10 free bets from William Hill.
BUT before we continue making some more guaranteed money, lets just be clear on what we’ve done and what will happen based on the outcome of the game/race we’ve bet on.
In our example one of three possible outcomes can occur in the game:
Leeds can win vs. Leicester;
Leeds can draw with Leicester or;
Leeds can lose to Leicester.
If you look at the bottom of the Profit Bet Calculator there is a section called 'Summary of the Settled Bet'. This section tells us where our money ends up being located (the bookmaker or the exchange) based on the outcome of the game/horse race we have bet on. It also shows we make exactly the same profit no matter the result of the game/race. (Hence why we say matched betting gives us a guaranteed profit!).
Let's break this summary down further so you can get a good grasp of what's happening.
The first possible outcome for our example is Leeds winning.
So when you placed your free £10 bet at William Hill your balance at William Hill should not have changed. If your back bet won you will only get the winnings paid into your account as it was a 'stake-not-returned' free bet. Your balance at William Hill will now be up by the amount you've won. In our case that would be +£55.00.
£7.72 of this £55.00 is our guaranteed profit. At Smarkets your pre-Profit Bet balance will be down by the amount you were liable for on your lay bet. (So say at Smarkets we started with a £50 balance and lost the £47.28 that we were liable for if Leeds won, our Smarkets balance would now be £2.72).
TOP TIP: If your free back bet wins at the bookmaker, the guaranteed profit you have made will be sitting in your balance at the bookmaker once the bet settles (i.e. after the game is finished).
What happens if the outcome was a draw between Leeds and Leicester?
So if you started with a £50 balance in Smarkets and your lay bet wins, your profit will be the amount that you originally staked on your lay bet minus the 2% commission to Smarkets. (In our example we staked £7.88. So we won that but then gave Smarkets 2% of this, so we end up with £7.72 profit in our balance. Our balance would be £57.72). At William Hill your balance will not have changed at all because you used their free money. You have lost nothing at William Hill.
TOP TIP: If you are using a free back bet at the bookmaker and it loses (i.e. the lay bet wins) the guaranteed profit you have made will be sitting in your balance at Smarkets (the exchange).
What happens if Leeds lost to Leicester?
The exact same thing as what happened with the draw.
So HOW your lay bet wins in a Profit Bet doesn’t matter – the same thing happens for both outcomes. Your profit will end up in Smarkets, your William Hill balance won't have changed.
SMALLER STARTING CASH FLOAT? If you had a small cash float to start matched betting with and your free back bet won, most of your money and profit will now be sitting in William Hill. If you are unable to deposit more money into Smarkets, you may need to withdraw from William Hill before you can do the next set of profit bets. If the free back bet lost and your money and profit are sitting in Smarkets, continue on with the second £10 free bet at William Hill.
REMEMBER! For each Profit Bet we already know BEFORE the game/race even happens exactly how much profit we've made, and know it will be the SAME PROFIT WHATEVER THE OUTCOME of the game/race is. What we don’t know is WHERE the money, and our guaranteed profit, will be moved around to. The bookmaker or the exchange? We can’t know this until after the game/race has happened. Anytime the free back bet wins it ends up in the bookmaker. Anytime the lay bet wins it ends up at the exchange.
Before we continue with the other two £10 free bets at William Hill and make some more guaranteed money it's best to add the Profit Bet we just did into our records. You are best to do this right after you've placed your Profit Bet.
If you click the tab in Excel for Bet.Tracking.Records you will see where to type in your Profit Bet details.
The record tracker is set up to record your overall profits from Matched Betting. We really recommend not skipping this - it is very important in the long-term to track your bets for sustained and successful Matched Betting.
The tracker should now be showing your Total Overall Profit so far. This should be equal to your small qualifying loss PLUS the profit you have just made.
In our examples above our total profit so far from William Hill is currently our Qualifying Loss -£0.26, plus the profit from our first £10 free bet (+£7.72), which is £7.46.
We still have two more Profit Bets to do though, so let's continue!
All you need to do now is go back to the start of Step 8 (the Profit Bet) and repeat the whole process again with your second free £10 bet at William Hill. Once you finish that Profit Bet, try to understand what you've done and where the money will end up (Step 9) then add it to your tracking records (Step 10).
Then do this once more with your third and final £10 free bet at William Hill.
On completing these free bets the tracker should now be showing your Total Overall Profit so far. This should be equal to your small qualifying loss PLUS the profit you have just made.
After completing all the steps above your Wild Dog Profits Tracker should now be showing you the total overall profit you've made from this William Hill offer. (If you've found good matches for all your free bets this profit should be at least £21).
Great isn't it?
This is just the second offer in our guide and just the beginning with what you can make with matched betting. By learning how to do matched betting and becoming a confident matched bettor you will be able to make a regular extra income each month just like we do.
OUR FINAL TOP TIP FOR THIS WILLIAM HILL OFFER:
We have had several of our users report that when they placed a Mug Matched Bet (or two) after completing their free bets then within the next few days William Hill sent them a private message with a bet £10 get £20 in free bets offer or similar. These private offers mean more guaranteed profits for a matched bettor to make. (See the email screenshot to the right one of our users sent us). This is just the start of the offers William Hill provide each week. Don't forget to check the terms (especially the MINIMUM ODDS ) of such offers before you do them.
Due to these regular promotions we HIGHLY recommend if you have any balance left in William Hill after completing the welcome offer to do what we call a 'Mug Matched Bet'. Or if you have the cash float available deposit again into William Hill. A Mug Matched Bet is EXACTLY THE SAME as doing a Qualifying Matched Bet. Therefore just follow along Steps 5 - 7 from the above and in your tracker afterwards note it down as a 'Mug Bet' rather than a Qualifying Bet. By doing a Mug Matched Bet you will take another tiny loss (that should ideally be 50p or less) but increase the likelihood of the receiving a private promotional offers from which you can then make more guaranteed profits from.
Don't forget to login to your William Hill account regularly to check for these private messages!!!