What is matched betting: How it works? Tips & Risks
Matched betting is a way bettors can earn money online with free wagers and promotions offered by online sportsbooks. Bettors can cover all potential outcomes of their favorite sporting events by placing multiple wagers.
They can also use this method of low-risk gambling to make guaranteed profits by only using free bets and other promotions to place wagers while covering all the possible game results.
Are Free Bets Limited at Online Bookmakers?
Most online bettors think free bets are limited at online bookmakers. In reality, they’re everywhere. Using more than just the ‘risk-free’ matched betting, bettors can guarantee that the free bets keep coming in daily.
Bettors can generate instant profits from free bets by using a calculator with free bets and other offers. They can also use simple software programs and don’t need any sports knowledge to participate.
How Matched Betting Works
Although it’s not essential to learn betting terminology for what matched betting is, players must know the types of bets that help it to function when learning about sports betting information.
To make a long-term profit, there are two important things players should understand if they want to be successful. However, the simplest thing all bettors should know is the difference between the bet types.
A “back bet” is the most common form of bet, where the players make a selection they think will win. If that choice goes on to win, they win the bet and whatever profit it brings. So picking a team simply means that a player has “backed” that team to win the event.
Popularized with the recent use of online betting exchanges, the “lay bet” is the opposite of a back bet, where a bettor selects a team they think will not win.
If the chosen team doesn’t win, the bet is a winner. Also, if the result is a draw, the lay bet is also a winner because the selected team didn’t win the game.
Risk of Any Back Bet
In understanding betting strategies and sports bettors, matched betting eliminates the risk of any back bet at an online sportsbook by placing an opposite bet at the same odds at an online betting exchange.
After the initial or qualifying real money wager, bettors will be awarded a free bet by the sportsbook, where players make a profit.
Then, repeating the process using the free bet and later the lay bet, bettors will always make a profit.
Matched Betting Risks
Matched betting has no risks because players cover themselves by betting on both sides of an event. However, when bettors make mistakes, they stand the highest risk of losing money.
When studying sports betting information, players that may not be familiar with the betting market or don’t understand everything they should know about what is matched betting are more likely to lose.
Free Bet Promotions
There are rare occasions where free bet promotions aren’t awarded to players immediately, so players sometimes need to be patient and follow all the terms and conditions.
Those who are beginners at matched betting are most affected by losses, mainly because they don’t have as much money in their bankroll as an experienced matched bettor.
Familiarity Reduce Risk
Novices may sometimes lose all their profits up to that point. As bettors become more familiar, their risk becomes less because, with all their earnings, taking a loss once in a while doesn’t hurt much.
This is why before using what is matched betting, users must fully understand the concept and take advantage of any online tools they can use to see the mistakes bettors commonly make and ensure it doesn’t happen to them.
Of course, matched betting isn’t risk-free, but players should be able to fix any mistakes before losing too much money if they know the common missteps.
How to Place a Matched Bet
As part of the understanding of betting strategies and sports bettors, players should first open an account at an online betting exchange to place their matched wagers.
They must then find an online sportsbook with a free bet welcome offer There are many online guides to help bettors find the best welcome bonuses.
For example, a good offer would be a sportsbook that offers a free bet of up to $500 on an initial deposit. Then, after reading the offer’s terms and conditions to verify there are no hidden restrictions, players can proceed to find a game to wager.
When placing the qualifying bet, the bettor will lose a small amount, known as the qualifying loss. They should then look for a game to place their back bet.
This wager must have odds higher than the minimum odds in the offer’s terms and conditions, which could be -200. Players are advised to use moneyline bets in a market where they are confident the result will be either a win or loss, not a draw.
The next step is placing the lay bet. Bettors need to find a different sportsbook at the betting exchange and check the odds for the opposing team.
Need of a Betting or Dutching Calculator
Next, players must use a matched betting calculator or a dutching calculator to find what their stake at the second sportsbook should be.
These calculators can be found easily at many places online. Bettors will lose a minimal amount, typically pocket change, no matter the game’s result. However, this loss will qualify the bettor for the free wager offered by the bookmaker.
After receiving the sportsbook’s bonus, bettors should then repeat the same method but with higher odds to ensure the most winnings. No matter the result, players will make a profit.
Bettors are left with around 95% of the free bet amount for every matched bet in profits. This is because betting exchanges will charge a commission of about 5% on all winnings.
Matched Betting Tips
Like any other type of sports betting, bettors must follow several specific things when looking at matched betting strategies as they pick up sports betting information.
Players must first make sure to not just pick any game at random and ensure the chosen event will make a profit, no matter the game’s result.
It’s always important to calculate the anticipated profit before making the first wager. Bettors can always find the best odds by searching the different online bookmakers.
Since there is now a high number of online bookmakers, it’s best to stick to welcome offers to have higher winnings and an opportunity to bet on the games of your choice.
New Player Welcome Bonuses
It’s also possible to use this method at sportsbooks with ongoing free bet bonuses for their customers. However, the profits won’t be as high as with new player welcome offers.
All welcome bonuses have terms and conditions that restrict players to specific sports markets and odds. Those who fail to follow the terms may not qualify for the welcome bonus.
It’s also possible players could lose their account and forever be banned from that sportsbook.
One of the most important things players need to make matched bets is an account with at least two bookmakers to back and lay on the same wager.
They may also need to use a betting exchange to wager against a bet made with another sportsbook. Players can open several online betting accounts if they offer the right type of bonus.
With mobile sports betting as popular as it is nowadays, those serious about making money with matched betting may need to make their bets from anywhere they may be. This is where betting apps for bookmakers and betting exchanges come in handy. These allow players to bet from anywhere online wagering is legal.
Matched Betting FAQs
Sportsbooks can sometimes try to keep players from profiting from their welcome bonuses. However, there’s little they can do to stop no-risk matched betting. So although it’s not illegal, it’s always a smart strategy to try and get around the promotion’s rules.
This depends on the bettor. Experienced and professional bettors can spend several hours per day making matched bets. Matched betting isn’t necessary for everyone.
However, just like anything else, the more you do it, the faster you learn. Sometimes it’s worth investing a good amount of money at the beginning to learn all the intricacies of matched betting quickly.
Yes. Besides welcome offers, online sportsbooks often offer to reload bonuses and refer-a-friend promotions. Reload bonuses are for existing players on the platform and are given each time they make a new deposit. In addition, they receive a match bonus similar to a welcome bonus on their deposit, which could be in cash or free play.
No. Online sportsbooks are very strict on players with multiple betting accounts. Most will ban any player that’s suspected of this. They can easily recognize when players do this by checking their IP address, account details, and cookies. Players should review the sportsbook’s terms for more information on the penalty for opening more than one account.
Since online sportsbooks don’t require a credit check to open an account, there is nothing that will show up on a player’s credit report when they wager online. So even if a provider does a rare credit check, nothing is ever recorded, and it does not affect a player’s overall credit score.