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Matched Betting meaning
In this article, we will speak about one interesting sports betting discipline called matched betting. I suppose if you read this article that you are into Sports Betting and that you tried standard betting strategies and that you found it pretty difficult for someone that is not so familiar with all those markets, stakes, sports and other things that are necessary for successful profit-making on the long term.
Matched Betting – What is it?
Matched Betting is a form of risk-free online betting discipline that (if you follow the rules) guarantees a profit long term.
So how it is risk-free? Well, you bet on the same game and place two opposite bets, exploiting Bookmaker and Betting Exchange bonuses. So this is not gambling, it is a form of an investment that makes a legal profit. Of course, there is an issue with human error that can happen, but if you are careful and make no mistakes in the process, you will be able to make some decent profit. Also, this form of sports betting is 100% legal. You just exploit sportsbooks bonuses and convert them into real cash.
Matched Betting – How to start?
To start betting this way you only need to be over 18 years old, to have a personal computer or mobile device with a steady internet connection and that is it. Also it is important to know the difference between back and lay bet.
BACK BET – You bet on an outcome that you think it will happen. For example, we have a game between Juventus and Inter. You think Juventus will win. Bookie offers you odds 3.00 on Juventus win. You place the bet, bookie accepts it and if the Juventus wins you will win three times your stake (10 Euro stake on Arsenal win with 3.00 odds, you will get 30 Euro with 20 Euro of pure profit (30 – 10 stake = 20)).
LAY BET – Lay betting is backing a selection to lose. With lay bet you are playing the role of the bookmaker and have the opportunity to choose the odds that you want to offer and the stake that you’re willing to accept. For example, you think Juventus will not win. Then you lay Juventus win with 3.00 odds. If Juventus doesn’t win, you will get the stake somebody on the Betting Exchange decided to bet. If Juventus wins, you will pay to the other bettor three times the initial stake (10 Euro profit if Juventus doesn’t win and 30 Euro loss if Juventus win).
BET STAKE – The amount of money that you will need to place when you take your BACK BET. The formula to calculate your winnings is simple: (stake * odds) – stake = profit.
BET LIABILITY – The amount of money a lay bet will cost you if you lose your lay bet. The formula to calculate your loss in that situation is also pretty simple: (backers stake * (lay odds-1) = Liability.
Bookmakers and Betting Exchanges
For matched betting you will need to have an account at both sporsbooks and betting exchanges. Bookmakers are traditional online betting sites like Bet365, Ladbrokes, and Marathonbet for example and they let you place BACK BETS while Betting Exchanges are sites that let you place LAY BETS. Most popular Betting Exchanges are Betfair and BETDAQ for instance.
If you want to know more about betting exchanges, then read our article about them, here.
Both of those types of betting sites use offers to stand out from their competition and to attract new customers. That is excellent news for you as you need those offers for Matched Betting. Those offers are usually free bets that are offered by Bookmakers and Betting Exchanges. Offers usually require you to place a bet on a particular value, at specific odds to receive your gift (FREE BET). Those free bets are called bonuses and with those bonuses Matched Betting players make their profit, TAX-FREE, and LEGAL.
Top Betting Sites (rating by BettingZebra.com)
Is it hard to be profitable?
There is no clear answer to that question. You need to be disciplined and to follow the rules. There is, of course, a problem with human error/mistakes, but when you get the hang of it after the first few bets it gets only more natural, but please do not rush.
When you get to hang on it you can run multiple bonuses at the same time, you will have more money in your bankroll, but you will need to be more patient of course. Running various bonuses is hard, you need to be focused, and there is a higher degree of human error there.
Matched Betting – Helpful Tools
Although Matched Betting isn’t hard at all, your Matched Betting journey can be a bit time to waste at the beginning without the usage of right tools. There are some internet tools, like odds compilers, and calculators that can help you select the right games.
How does it work?
Matched Betting philosophy is about two rounds of opposite bets:
1. Qualifier Bet – that is the bet you need to place to get a bonus.
For example, if the Bookmaker promotion is “Bet 10 Euro to get a 30 Euro Free Bet”, read the terms and conditions and see usually you need to put that bet on odds higher than 1.50. You need to have an account at sportsbook that offers Bonus and to have an account at selected betting exchange.
Now find the game with odds higher than 1.50 and locate at Betfair same game. You need to calculate how much you need to back and to lay (BACK at Bookmaker and LAY at Betting Exchange). After you placed both bets and when the selected match is finished, you got your BONUS to play with it.
2. Profit Bet – with BONUS in your pocket now you repeat the same process, but with BONUS money. If your BACK bet wins you collect cash from Bookie and if your BACK bet loses, you will receive the money from Betting Exchange. So it is a WIN-WIN situation.
Pros and Cons
Steady profit – sportsbooks will always give nice bonuses,
Constant monthly income,
Low budged needed – you don’t require a lot of money to start,
Human error risk
Overall, the pros definitely out way the cons. Spend some time doing all the research you can, and you will see Matched Betting pays off.