
What Is Lay Betting? A Beginner's Guide with a Worked Example
Sophie Hughes10 min read


How to place your first matched bet, step by step: pick a welcome offer, size your lay with a calculator, place both bets, then convert the free bet to cash.

Matched betting turns bookmaker free bets into cash by covering both sides of a bet. Here's exactly how it works, why it's legal, and how to start.

How to open a Smarkets account for matched betting: the sign-up, the ID check, your first £10 deposit and your first lay bet, in about ten minutes.