- Matched Betting
Matched betting is another type of risk-free betting. It is a betting strategy that statistically guarantees a profit from the promotional free bets offered by bookmakers. You can actually turn free bets offered by online bookmakers into a real profit. Most bookmakers offer free bets on signups to attract more and more users to their betting platform, so there is always an opportunity for matched betting.
Basically, you need to place back bets and lay bets to trigger the free bets offered by bookmakers. The lay and back bets are used to reduce the risk of losing money. You need to understand the concept of lay bet and back bet to use matched betting strategy.
- Back Bet – it means betting your money on a certain thing to happen. For example, if you bet on “Manchester United will win”, it is called a back bet. If Manchester United wins the match, you win the bet, but if Manchester United loses or draws the match, you lose the bet.
- Lay Bet – it means betting your money on a certain thing not to happen. For example, if you bet on “Manchester United will not win”, it is called a lay bet. If Manchester United loses the match, you win the bet, but if Manchester United wins or draws the match, you lose the bet.
Matched Betting Example – mostly bookmakers offer free bets for their customers, if they spend a minimum amount on bet. To learn more about matched betting, let’s consider a real example. To win a risk-free profit with matched betting, you need to place two bets. A great resource in the USA for Football Betting is https://bparlay.com
Matched Bet 1
- Let’s say a bookmaker A offers a £20 free bet when you place a £10 bet with them, and you place a bet with Bookmaker A on Chelsea’s win for 2.0 odds. This first bet will be your qualifying bet.
- You find a betting exchange who is offering a lay odd of 2.10 on Chelsea’s win, and you place a lay bet of £10 with betting exchange on Chelsea's win for 2.0 odds.
- If Chelsea wins the match, you win the back bet with bookmaker A. You win a total (odds x stake) £20 with bookmaker A. Your lay bet is unsuccessful, you also lose the £10.74 liability with the betting exchange.
- Since you spend a total £20 (bookmaker A £10 + Betting exchange £10), and you win £20 with bookmaker A and lose £10.74 (stake + 5% commission) with the betting exchange. So, overall from both betting sites, you lose (bookmaker A profit £10 – betting exchange loss £10.74) 74p.
- On the other side, if Chelsea loses or draws the game, and you lose the bet with bookmaker A, but you win your lay bet with the betting exchange. In that case, you still lose only 73p in both bets.
- In both cases, you win a £20 free bet offered by the bookmaker A, and approximately £9.26 credit in your account. Take a look at our Accumulator advice resources here to learn more.
Matched Bet 2
- Now you have £20 free bets and £9.26 credit in your account. You can stake your £20 free bets with the bookmaker A. Let's suppose we have another match between Watford and Everton. The bookmaker is offering back odds of 3.5 for Everton to win, and you place your £20 free bets on Everton’s win for 3.5 odds.
- Now the betting exchange offers a lay odd of 3.7 and costs 5% commission on Everton’s win, you place a lay bet with that betting exchange. You can use a matched betting calculator to determine your lay amount and liability. According to the match betting calculator, you need to lay £13.70 on the betting exchange, and your liability for the bet is £36.99.
- If Everton wins the match, your back bet becomes successful and you win your stake x odds, but the bookmaker deducts your stake from your win, because it is a free bet (£20 x 3.5 – £20 = £50). On the other side, you lose your lay bet, and the betting exchange deduct a liability of £36.99 from your account. Although you lose your £36.99, you win a net profit of £13.01.
- If Everton loses the match, your back bet becomes unsuccessful, and you lose nothing with the bookmaker, because it was a free bet. On the other side, you win your lay bet, and the betting exchange gives you a profit of £13.02.
- In both cases you win a sizable profit of £13 by using a matched betting strategy.
Pros of Matched Betting
- Matched betting is the quickest and easiest way to make profit from your investment.
- It is a risk free betting strategy.
- It provides you a chance to win big without losing your money.
- You don’t need to use a complex formula to calculate your profit and liabilities. There are matched betting calculators available online.
Cons of Matched Betting
- Matched betting is difficult to understand, and mostly people get confused while understanding this betting strategy.
- If you make a mistake while making your calculation, it can be costly and you can lose your money.
- You have to place multiple bets in this betting strategy. To secure free bets and bonus, you need to place qualifying bets first, which can cost you a lot of time.
- If you are suspected of misusing free betting, the bookmaker may terminate your account, and withhold your winnings.