In recent years, matched betting has gained widespread acclaim. This is a technique that many people, hoping to make some money on the Internet, undertake. The process utilizes free bet promotions to make profit irrespective of the outcome of a game. Though not illegal and in fact risk-free when executed as it should be, the technique of matched betting has some misconceptions around it. The purpose of this article is to provide insight into the definition, principles, and possible strategies to earn profit from matched betting.
What is Matched Betting?
A matched bet, also called ‘no-risk betting’, is often described as the practice of taking advantage of free bets and promotions from online bookies. The main aim is to make a profit regardless of the result of the sports betting. This is achieved by placing back bets (betting on an event occurring) and lay bets (betting on an event not occurring) in such a way as to cover all possible outcomes of the bet.
Betting, as a general rule, carries with it some risk, however, in matched betting that risk is rather removed by simply covering the bets in the various available options and platforms such that it is always possible for one option to offer a payoff or return. It is commonly used to do this: take advantage of the first deposit, reload bonuses, and free bet offers from betting companies.
How Does Matched Betting Work?
Step 1: The Free Bet Offer
To begin with, one should look for a bookmaker that offers a free bet or other promotional offers. Such offers are often available to new customers or to keep existing customers from switching to a different bookmaker. For instance, free bets are often available on qualifying bets which require participants to place a minimum bet.
Step 2: Placing the Qualifying Bet
Usually, you would have to place an initial wager with your real money to unlock the qualifying bets free bet. To do this, punters are required to place a bet using their own money which is called the qualifying bet to enable the sportsbook to issue a free wager. To do this, you make one back bet and one lay bet.
Back Bet: This is the type of bet made towards a particular event with the bookmaker. For instance, bet placed that Team A will be the winner of a football match.
Lay Bet: This bet is made at a betting exchange such as Betfair or Smarkets betting against the event that one has bet on with a bookmaker. In this case, your lay bet would be against the victory of Team A. This encompasses every other possible outcomes: either Team A loses or the match concludes with a stalemate.
Step 3: Using the Free Bet
After completing the required qualifying wager event and after the bookmaker has given the account a free bet as stated earlier, a player is now to make the second round of bets or the second set of bets. This is where players can start making money.
You will reiterate the same process where you place a back bet with a bookmaker and a lay bet on the betting exchange, however, this time you use the free bet. Since this particular bet doesn’t cost any of your own money, any profit that arises from this bet is virtually risk-free.
Example of a Matched Bet
Qualifying Bet: You place a back bank of £10 on Team A at odds of 3.0 with a bookie. While at the same time, you place a lay bank of £10 on Team A at odds of 3.1 through a betting exchange. You might incur a small loss (often just a few dollars) in this stage as a result of the difference in price movements’ and/or the commission of the betting exchange.
Free Bet – After making the qualifying bet, the user will have a £20 free bet. Now, this free bet is used to put a back bet on Team B to win at a 5.0. At the same time, a lay bet is made to Team B to lose at 5.1 on the betting market. Since it was a back bet placed using a free bet, this round’s return will generally be about 70-80% of the free bet’s value. Thus, if one has a free bet worth 20, then expected profits will be in the range of 14-16.
Tools and Software for Matched Betting
There is no doubt that one reason matched betting is available to the masses is the availability of tools and software which make the process easier. Such tools assist users to locate the most suitable offers, determine the precise stakes to be used for both round and counter-bets, and ascertain the best possible odds to be used for every bet placed.
Among the leading resources for matched betting include OddsMonkey, and Profit Accumulator who’ve got tutorials, odd matching software and mathematics as part of the process. Such platforms eliminate the need to think too much, enabling bettors to easily notice what bets are worth and what they can go for from the beginning.
Is Matched Betting Legal?
Definitely, matched betting is absolutely legal. It is logic how to make the most out of bookmaker bonus promotions, and it is not illegal. Most betting exchanges and bookmakers know about it, but some bookmakers may restrict or otherwise limit the accounts of people they believe are constantly practicing matched betting. That’s why some users prefer to diversify their activities from one bookmaker to another to reduce the chances of their accounts being limited.
Is Matched Betting Risk-Free?
Matched betting divides people into two camps: some say it’s perfect and risk-free while others consider it a terrible way to gamble. All in all, all people agree that when done properly, this form of gambling is safe and secured, and has the potential to yield great profits. However, there are several risks:
Making Erroneous Wagers: In case you want to place a back or lay wager, but do it at the wrong odds or forget to place the lay bet at all, you may experience monetary losses.
Modifications in Odds: When a back and lay bet is placed on the same market, the odds tend to fluctuate over time. This underlines the need to place both bets with speed.
Restrictions On The Account: If they suspect you are matching bets to make use of their promotions, bookmakers can restrict or close your account. To avoid this, the bettors will sometimes use other strategies and place “mug bets” now and then, whereby they place non-matched bets that are less strategic.
How Much Can You Make with Matched Betting?
The profit margin from matched betting also varies depending on your investment in time and the number of bookmaker accounts you have, among other factors. Most beginners often earn between £500 – £1000 within the very first month by getting sign up bonuses from dozens of bookmakers.
Once you have finished sign up offers, there are still quite a few opportunities to make more money with the use of reload offers. Some experienced matched bettors convinced of earning a monthly profit of £300-£500 per month.
Tax-Free Earnings
UK residents enjoy one of the best advantages. That is, money won from gambling is exempt from tax. And since matched betting involves Profits from betting, there is no need to pay tax on such earnings. It becomes even more appealing for those who are planning to earn some extra on the side.
Conclusion
Matched betting is a rather lucrative method to implement bookmaker offers without any risks. The technique revolves around placing back and lay bets by matched bettors to make a guaranteed profit on any given sporting outcome. Some risks exist like wrong bets and account restrictions or limitation, but following the right procedures and using the right tools will reduce such risks.
If you are interested in earning a few bucks online and want something that’s legal, matched betting is a very good option. Beginners and seasoned bettors will also be able to start earning by utilizing quite a few free bet promotions from various online bookmakers that are available out there with a proper strategy.