Matched betting is a risk-free betting strategy used to profit from free bets, promotions, and other incentives offered by bookmakers. It involves placing two opposite bets on the same event to ensure a profit, regardless of the outcome. One bet is placed on the chosen outcome at a bookmaker, while the other is placed at a betting exchange, which allows you to bet against a certain outcome. By carefully calculating the stakes and odds, you can guarantee a profit, usually between 70-90% of the free bet value.

Yes, matched betting is completely legal in most countries. It is just a mathematical technique that uses free bets and promotions offered by bookmakers. However, if you are under 18 or live in a country where gambling is prohibited, you should not engage in matched betting. Also using multiple accounts of a bookmaker is also illegal.

No, you do not need any prior knowledge of sports or betting to do matched betting. You are not actually betting on the outcome of the sporting event. Instead, you are making use of free bets offered by bookmakers, which have nothing to do with your knowledge of sports or betting.

The amount of money you can make from matched betting depends on several factors, including the amount of time you can invest, the number of bookmakers you use, and the type and frequency of offers available. However, in general, you can expect to earn around £500-£1000 per month with a few hours of work per week. Some professional bettors make thousands of pounds every month, but this requires a lot of time and effort.

While you do not need a lot of money to start matched betting, having a larger bankroll can help you make more profit. Ideally, you should have at least $200 to $300 to begin matched betting effectively. This will give you enough capital to place bets and navigate through the learning curve of the strategy.