My friend just sat me down and showed me how he makes money online. My mind was blown. He is not the most tech-savvy guy I know, so when he told me he was backpacking and working from his laptop my alarm bells went off. He was signing up to every bookie he could find that was offering a welcome bonus. Eg. sign up and get a $50 bonus bet. No big deal, just another way to get a mug to lose his hard earned cash after losing the bonus
I was wrong. As soon as he got the bonus, he would go over to the Betfair Exchange and the sell the bonus bet to somebody for about 70% of its value. Genius! So simple and it works every time you are able to get any type of welcome offer. I started doing it and from 12 online bookmakers in Australia, I made over $3000 in a few months. There are a lot of tools that help with the process so you can calculate how much you can sell your free bets for. An Australian site has a free matched betting calculator and more tools for you to do this.
That site also helps you find NRL and AFL betting tips on where to find the best promotional offers so that even after the welcome bonuses have come and gone, you can continue to make some nice profits each week. Not as much as the welcome bonuses, but every little bit is appreciated, right!
There is a whole community based around this concept of arbitrage that I never knew about until I started searching for more into for arbitrage opportunities. It is called matched betting and it basically just describes what I said, getting a free bet as a welcome offer and then selling it on the betting exchange. It is a brilliant way of making a little bit of side income from your computer.
In fact I never place a bet before I started, now I'm sitting on a beach in Thailand placing about 5 a day and making some side income to help me travel and work for myself. Definitely give it a shot, the site I started with is called Matched Betting OZ. They are Australian and have all the free tools and tutorials to get you going. I am fairly active in their Facebook group now so though I should give them a shout out.