Matched betting explained in detail
Betting on sporting events is nothing new and can be traced as far back as 2000 years ago.
However, for many gamblers, the idea of matched betting may be new and a little confusing. If you have ever looked online for betting tips, you are sure to have seen many websites offering tips at a cost and guaranteeing results.
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These tips should be avoided as there is always a risk when it comes to betting, regardless of what some websites might have you believe.
That does not mean you cannot employ a strategy which seriously increases your chances of winning money by betting. One such approach is called ‘matched betting’, and this is as close as you will come to make a guaranteed profit when betting on sport.
As with any form of gambling, you will always be subject to risk, and there are several things you need to be aware of before you begin matched betting. First of all, let’s take a look at exactly how matched betting works.
What is Matched Betting?
In this Matched betting blog we hope to uncover the mysteries that differs from standard sports betting. Let’s take football as an example, you would place a bet on Liverpool to defeat Burnley using your knowledge of the sport and realise this has a good chance of success.
However, there is still a significant risk attached to the bet because if Liverpool has a man sent off or play poorly, they could again lose the game, and you will lose your money.
When matched betting, you will be adopting a completely different mindset and which team wins or loses the match will almost become irrelevant. You do not need any experience of betting on sport, and you do not need any knowledge of the sport to make this work.
Matched betting is a mathematical approach to betting that uses free offers from online bookmakers to generate a profit.
How Does Matched Betting Work?
Matched betting works by using a free bet offer from a standard bookmaker, betting exchange and back and lay bets. We have covered these topics in more detail in a previous article, and if you would like a refresh, please follow this link to find out more about back and lay betting.
To place a matched bet, you must first create an account at an online betting exchange and a bookmaker. There are many to choose from, and the most popular ones are widely known in the betting world, making them easy to find online.
If you have experience of sports betting, you may have seen the various forms of odds available, and for matched betting, you will need to use decimal odds. This makes things much easier, and you can change the odds to decimal using the settings at every good online bookmaker.
To find a bet, you need to find an event which has close odds at the bookmaker and betting exchange. This means the odds for the back bet and lay bet should be as close as possible. Check the restrictions of the free bet offer you are using at the bookmaker first, to see if there are any restrictions, such as the lowest odds you need to apply for the offer to become valid. You always want to try and use low odds for this bet.
So, you could back a Barcelona win at the bookmaker at odds of 2.25 and lay the same bet at the betting exchange for 2.30. Click here to access our free matched betting calculator to find out how much you will win or lose in each case. In this example, you will make a small loss on this bet, but it is nothing to be concerned about.
Having placed the above bet, you have qualified for the free bet at the bookmaker.
Let’s say the free bet is £10, you can now place that bet using the same process as above, but this time you want to look for bigger odds. You still want to look for odds which are close together, such as 4.60 for the back bet and 4.75 for the lay bet, again you can use our free matched betting calculator to find the exact amount.
You will need to deposit extra funds at the betting exchange to cover any liability but whatever the outcome of the match, you will make a profit on the bet. Remember, you have used a free bet at the bookmaker, so regardless of the result, you are going to make money on this bet.
Benefits of Matched Betting
As you can see from the example above, the primary advantage of matched betting is the guaranteed profit at the end of the process. You do not need to know anything about sports to place a matched bet, you only need to understand the principles of matched betting and appropriately apply them.
Matched betting is legal, so there is no need to worry about doing anything underhand. Everything is 100% legal, and that’s why so many people have chosen to use matched betting as a way to supplement their income.
It is possible to make a lot of money from matched betting over time, if you are prepared to put in the work and following a strict regime. The more you place matched bets, the easier it will become. You can our free online matched betting calculator tool which will show you how much to stake at the bookmaker and to betting exchange to minimise the initial loss on the first bet and maximise profit on the second bet.
There are other tools available which make life even more straightforward when matched betting such as an odds matcher, which shows the best sports fixtures to use for matched betting. These can save a lot of time.
Matched betting is also good for betting on big events without the worry of losing money. Online bookmakers often have great special offers when big sporting events are taking place, and you can take advantage of these to guarantee a winning bet.
Cons of Matched Betting
Matched betting does require many people to take a step into the unknown. Even if you are familiar with placing bets, matched betting is different and as with anything different, there can be a slight fear which is natural.
You may need to build up a little courage to begin matched betting and as you start to place bets on more significant odds to maximise the profit from your free bet, the more money you will need to deposit at the betting exchange to cover the liability.
You must concentrate completely when placing a matched bet. They can take time to work out, and you cannot afford to switch off at any moment because a mistake could be costly, especially when betting more substantial sums of money.
As mentioned above, always check the terms and conditions surrounding a free bet offer as you do not want to place your initial bet only to find you have breached the rules. Matched betting does take time, and you need to dedicate that time entirely to the process.
If you regularly use bookmakers and betting exchanges for matched betting, they may catch on to you and close your account. This is not because you have done anything illegal in the eyes of the law but because you are always making a profit and ultimately, they do not want that happening.
This is known as having your accounts ‘gubbed’, and if a bookmaker does close your account, you will be unable to take advantage of any other offers from that bookmaker. To avoid this, you should try and place you qualifying bets at various bookmakers and even place a small ‘normal’ bet at a bookmaker, even if it is on a heavy favourite, to make it look as though you are a typical gambler.
You should keep a record of your profits from each matched bet and in doing so, use a small amount of that profit to place a reasonable bet at a bookmaker and betting exchange occasionally. Work out how much you can bet so that if it loses, it will not have a significant impact on your overall matched betting profit.
Matched betting comes with its pros and cons, but if you follow the guidelines, keep your concentration and make sensible bets, you will make a good profit. Once you feel you have completely understood the idea click here to get started
