I pretty much stumbled my way into matched betting around 6 years ago whilst playing online poker.
Because after signing up to multiple betting sites, the penny eventually dropped that I could exploit the bookmakers’ free bets for minimal risk.
Now, I did make a bit of money off my own bat.
But it was pretty slow going for quite some time because I didn’t have access to the massive range of matched betting tools and software that are now readily available.
However, once I started using various matched betting platforms I was able to significantly increase my income by making use of their resources.
Below are the top seven matched betting tools, automatchers, and oddscheckers that have personally helped me maximise my matched betting profits over the years.
Let me know if you have any questions in the comments section at the end of the post.
7 Matched Betting Tools to Increase Your Profits
Here are my top picks.
And if you skip to the end of the post.
I’ll tell you how you can get instant access to all of these tools and more.
In one place.
At the cheapest possible price.
1: Advanced Matched Betting Calculator
There are plenty of free matched betting calculators available online.
Even the most basic will allow you to hedge your qualifying bets for ‘no risk’.
And enable you to lock in a profit from both the SR (‘stake returned’) and SNR (‘stake not returned’) free bets.
You can even exploit the types of free bets that you only get when your initial bet loses.
But if you’re to make the most amount of money from your matched betting.
And avoid some common headaches along the way.
Then you’ll need access to an advanced matched betting calculator.
i) Properly Fix Partially Matched Lay Bets
At some point, you’re going to submit a lay bet and only end up with part of it being matched.
I’ve already explained how to fix partially matched lay bets.
But the bottom line is that you’ll need to hedge your position equally before the event goes in-play to avoid losing any money.
This is where OddsMonkey’s advanced matched betting calculator comes in.
Because it can calculate ‘part lays’.
For example, here I’ve placed a £50 back bet on the KC Chiefs with Bet365 to avail of their ‘2 UP’ offer:
However, when I tried to place my £50.71 lay bet at lay odds of 2.66 – only £31.12 was matched:
The next odds bracket ‘up’ with enough liquidity is at 2.68.
To find out how much I need to lay at 2.68, I set the calculator to ‘Advanced’ and switch the ‘Part Lay’ function to ‘Show’.
I set the ‘Back Stake’ to £50, the ‘Back Odds’ to 2.65, and the ‘Lay Odds’ to 2.68.
Next, I enter £31.12 into the first ‘Part Lay’ box and specify the odds at which it was matched – 2.66 in this case:
The calculator tells me that I should lay £19.50 at lay odds of 2.68 to cover the rest of my £50 stake evenly:
ii) Lose Less on Rollover Bets
If a bookmaker has given you a free bet or bonus with a lot of rollover attached.
Placing multiple back and lay bets to meet the turnover requirements can really eat into your profits when your bookmaker bets keep winning.
One way around this is to ‘underlay’ the entire ringfenced amount in one go.
This way, you’ll break even if the bet wins with the bookmaker.
And if the bet wins into the exchange – you’re done with the offer.
In rare cases, you may need to overlay a bet.
You can underlay and overlay using the ‘Custom Slider’ function that comes with OddsMonkey’s advanced matched betting calculator:
Matched betting ‘automatchers’ (usually called ‘oddsmatchers’) are carried by most of the major matched betting platforms.
And they are absolutely essential for anyone who takes their matched betting even semi-seriously.
Here are two reasons why you need to start using a matched betting ‘oddschecker’ today.
i) You’ll Make More Money From Your Free Bets
I’ve discovered that when I manually find selections to back and lay for my SNR free bets.
I typically average a retention rate of around 65%.
But when I use OddsMonkey’s Oddsmatcher:
I can boost this to 80% or more by setting the filter to only display back and lay selections in the 80-100% retention range.
That’s an extra £15 in profit for every £100 in free bets placed.
ii) You’ll Save a Lot of Time
From the screenshot above.
You can see that I’ve set up the software to show ‘exact matches’ – where the back and the lay odds are the same.
Which is perfect for minimising my qualifying losses and maximising my free bet returns.
And it literally took me 5 sections to do.
Which is much faster than trying to do the same thing by hand and eye alone (trust me I’ve tried!).
Oddsmatching software is essential for effective matched betting in my opinion.
3: Daily Calendar
You can definitely find and exploit the bookmakers’ initial offers manually if you’re that way inclined.
But once you’re ready to start banking regular tax-free profits from the bookmakers’ daily offers.
Trawling through the bookmakers’ websites and scouring the Terms and Conditions for every offer is just too painful to entertain.
That’s why I use OddsMonkey’s Daily Calendar:
Because right away – I can see which offers can net me a guaranteed profit.
And which ones offer speculative returns.
This allows me to tackle the highest value offers first and save the ‘smaller’ stuff for later.
Thus increasing my relative earnings per hour.
Plus, the ‘difficulty’ rating makes it easy to locate the best offers that are most appropriate to your own matched betting ability.
This is crucial if you’re making the transition from the ‘sign-ups’ to the ‘reloads’.
4: Matched Betting Forum
When I first started doing matched betting, getting help and support wasn’t easy.
This meant that I had to learn what NOT to do the hard way.
Which resulted in some rather costly matched betting mistakes that were both easily preventable and fixable.
Thankfully, there’s no need for this to happen to you.
Because there are plenty of free matched betting forums and Facebook groups where you can get help from more experienced matched bettors.
The only caveat here is that you’ll need to find one that’s not populated with bad advice.
I’m a member of quite a few matched betting groups, and OddsMonkey’s Private Forum is one of the best:
More than a million posts have been generated to date by the OddsMonkey staff and members.
And because there are so many forum users – it’s likely that you’ll get a response pretty quickly.
Plus, if you get super-stuck you can open a support ticket.
Forums are also a great way to find matched betting ‘loopholes’.
Loopholes are where there’s a glitch or mistake with one of the online bookmakers’ websites that can be exploited for a profit.
Perhaps the most infamous example being the Sky Casino loophole from a few years ago.
Where it was estimated that close to £1,000,000 was taken from Sky when they ran a roulette offer that would give you £10 in cash after 10 winning bets on red.
But they mistakenly allowed a single account to claim this offer an infinite number of times.
That was a glorious 15 hours or so!
5: Each-Way Matcher
Eventually, there’ll come a time when you’ll need to learn how to make money without relying on free bets.
Because once you’ve claimed too much value from the bookmakers’ offers – they’ll gub you.
Getting ‘gubbed’ means no more free bets.
For example, here I’ve received the classic ‘gubbing email’ courtesy of ‘Bet-Shite’:
Ok, losing your bonus privileges is never a good thing.
But gubbings don’t have to be the death knell for your online money-making exploits.
Because the next step is to lock in a profit from the bookmakers’ pricing mistakes.
Using the ‘each-way arbitrage’ strategy.
Each-Way Arbing – Bank £1 – £10 Per Race
Each-way arbitrage betting is just an extension of what you’ve already been doing to profit from the bookmakers’ free bets.
You ‘back and lay’ with the exchange to remove the risk as before.
Except you lay off the ‘win’ and the ‘place’ parts of your each-way bet separately.
And the profit itself comes from the bookmakers’ place-market odds.
Which are higher than the corresponding lay odds on the Betfair Exchange.
Here, I’ve locked in a modest £5.63:
But you’ll notice that this return is guaranteed no matter where the horse finishes.
And no free bets were involved.
Such opportunities can appear several times each day.
Saturdays can be especially lucrative thanks to the higher-profile ITV races.
How to Find the Bets Before they Disappear
You’ll not be able to find these ‘sure bets’ manually because such arbitrage opportunities don’t stick around for long.
That’s why I use OddsMonkey’s Each-Way Matcher to find these profitable bets for me instantly.
I usually average around £1 – £10 per race – sometimes more if the odds are good.
Here’s a video explaining how the Each-Way Matcher works:
6: Matched Betting Spreadsheets
I’m going to be totally honest here.
I still create my own spreadsheets to record my ongoing profits and track my withdrawals.
However, if you don’t have the time or skills to create your own matched betting spreadsheets.
There are plenty of premade matched betting spreadsheets available to download in your OddsMonkey membership area.
This includes the famous Ultimatcher spreadsheet by ‘the_goon’ and ‘SuzyBeths’ accumulator spreadsheets:
There are also sequential lay, Dutching, trigger bet, Rule 4, each-way, and profit tracking matched betting spreadsheets available too.
I’d also recommend keeping track of your bookmaker deposits and withdrawals too (the Ultimatcher can do this).
You may also wish to use OddsMonkey’s in-house matched betting Profit Tracker software too:
The Profit Tracker allows you to specify the bet type, the bookmaker, the exchange, the sport, your expected profit, your actual profit, and much more.
This really is an excellent matched betting tool for keeping track of your progress.
7: Acca Matcher
Did you know that you can exploit the bookmakers’ accumulator insurance offers for essentially no risk?
The secret is to lay off each leg of your qualifying accumulator bet in turn until you either hit a loser or all the legs win.
And if exactly one leg loses you’ll get your stake refunded as a free bet that you can then lock in a profit from.
This only really works when the football season is on.
But it can be a nice way to boost your bankroll for minimal risk.
The Accumulator Oddsmatcher
Have you ever tried to find accumulator matched bets manually?
It’s excruciatingly tedious.
And thankfully – totally unnecessary.
Because when I open up OddsMonkey’s Acca Finder tool.
The most profitable selections are displayed right away at the top of the automatcher feed:
The Sequential Lay Matched Betting Calculator
When I click the ‘Open’ button.
Everything that I need to know to make a profit from the offer is handed to me.
Including the exact lay stake sizes that I need to place for each leg.
And when to stop placing the lay bets:
Conclusion: Be Smart With Your Time
Matched betting requires you to trade your time for money.
And the seven matched betting tools that I’ve just listed are the key to maximising your relative hourly rate.
Because spending 15 minutes looking for the ‘best’ odds-match manually is inefficient.
Just think how many more offers you can get through using the standard oddsmatcher alone.
And the extra profit that you’ll squeeze from each and every free bet.
OddsMonkey – The #1 Choice for the Best Matched Betting Tools
Some matched betting companies will charge you extra to access their accumulator, each-way, and even their standard oddschecking software.
But there’s a way around this.
If you’d like to keep your costs down – I recommend joining OddsMonkey.
Because they are the company that actually provide the software and tools to more than ’70 matched betting sites’.
And by going ‘directly to the source’.
You can actually get access to some additional matched betting tools such as Tennis, Racing, Dutch, and Extra-Place matchers.
This all adds up to making more money in less time.
So… if you’re not already a member of OddsMonkey.
Click the button below to read my OddsMonkey Review.
Where I’ll explain how you can join OddsMonkey for FREE and earn up to £45 in the process.