What Is Matched Betting?

Matched betting is a strategy for reducing exposure to possible loss by taking advantage of the free bets and other promotions offered by online bookmakers. Instead of hoping for the best, matched bettors cover all their bases by wagering on multiple outcomes in a single sporting event. In the next sections, we'll discuss how matched betting works and explain why it isn't too good to be true.

Understanding Matched Betting

Online sportsbooks are always on the lookout for new players, and they'll leverage every strategy to get them. One of the common strategies for many bookmakers is to provide free bet incentives to entice potential clients to sign up. You should expect to see sports betting promotions like "bet £20, get £20 in free bets" all the time, as they are the easiest ways for bookmakers to bring in more players.

You can now register, place a wager, and receive your free bet with conventional betting. However, you may end up with nothing as you can, very easily lose the bets you place. 

With matched betting, you can gain access to the free bet while still safeguarding the funds you wager with. More interesting is that the free bet can result in real financial gain! To avoid the loss inherent in a single wager, matched betting requires you to make two opposing bets instead. In essence, every time you "back" something, you must also "lay" it (that means having an opposing bet against one outcome). You can potentially turn a profit with this back-and-lay betting strategy on free wagers.

What Is a Back and a Lay Bet?

You don't need to be fluent in all the betting lingo, but you will need to be familiar with the two sorts of bets necessary for matched betting to function:

A 'back' bet

Putting money on the line that an outcome will occur. For instance, "I bet England will win" is an example of a back bet. If your prediction comes true, you get to keep the money from your bet plus the profits. When England loses or draws, you lose your bet. This type of bet is no different from the traditional bet where you will be betting on an outcome to occur.

A 'lay' bet

Wagering that a particular result will not occur. "I bet England won't win" is an example of a lay bet. You'll collect your money if they either lose or tie. Lay wagers are only accepted at betting exchanges such as Betfair and Smarkets.

For matched betting to work, you must first bet against yourself at the same odds (known as "laying a bet") at any betting exchange, thus offsetting the risk of your initial "back" wager at the online bookies. Simply put, you are "matching" your wager.

The bookie will offer you a free bet in exchange for your first real money wager. It is here that you are able to make a profit. If you use your free bet you can bet on Liverpool to win for example and bet against them on an exchange and you will make a profit regardless of the outcome. 

How Much Profit Can I Possibly Make?

Due to the little variation in odds between betting sites, you may potentially incur a tiny loss on the qualifying bet (a matter of a few pennies). It's very normal, and you'll get your money back when you use the free bet. To ensure that you find good selections to maximize your profit, it is essential you download software such as odds monkey to profit accumulator. If you did this by yourself, you will be missing out on profit. You can expect to make between 80-90% on every free bet you receive.

What's the Possible Risk When Matched Betting?

Learning how to execute matched betting is simple, and in principle, there is no danger involved because you are shielding your bets from risk by betting for and against an event.

However, danger emerges when blunders occur. Therefore, you should inspect your bets and adhere to the directions precisely. Sometimes free bets take longer to process than expected, so be patient and make sure always to follow the rules of the promotion.

After understanding the concept of match betting and following the instructions, you can make a nice profit.

How to Start Matched Betting

If you haven't already you will need to open an exchange account. The two most popular exchange betting services are Betfair and Smarkets, although there are others available and due to their success, there will no doubt be many more.

You then of course need enough funds to place your bets. It would be a good idea to place a back-and-lay bet on an account with a bookie you have already signed up for. After you realize how easy the process is you will be eager to go ahead.

It is crucial you use software also. This is not expensive and if you only plan to do this for one month you can cancel your subscription. Please take some time to learn about the process. Many people rush in and then realize they could have made a bit more money if they knew what they were doing from the start.