Millions of people partake in sports betting worldwide, with a smaller portion of these players using a strategy that is now growing in popularity. This strategy is known as matched betting, and it is revolutionizing the way individuals interact with bookmakers. While the term initially may raise eyebrows, matched betting is far from another form of gambling. It is instead a mathematical system which allows players to turn the odds in their favour.
If you would like to learn more about this interesting way players are beating the bookmakers, then you can with our comprehensive beginner’s guide to matched betting. We will discuss aspects such as what matched betting is, how to match bets, what betting exchanges are, and more.
What is Matched Betting
Matched betting is a methodical approach that involves capitalizing on the promotional offers and free bets provided by various bookmakers. By strategically placing opposing bets on all possible outcomes of a sporting event, bettors can neutralize the risk, ensuring a guaranteed profit regardless of the result. Unlike traditional gambling, which is based entirely on luck, matched betting relies on mathematical calculations and a systematic approach to create a situation in which you can place successful bets regularly.
How to Place Matched Bets
First, you must start by signing up with a reputable bookmaker that offers sign-up bonuses, free bets, and regular ongoing promotions. Ensure you’re eligible for these promotions, and always remember to read the terms and conditions carefully.
Then, you are going to have to find a sporting event with close odds between the bookmaker and a betting exchange. This is crucial as your first bet will be used to unlock free bet promotions. Finding two fixtures with similar odds and doing the calculations to ensure you minimize your losses can be difficult and time-consuming. This is where sites like ProfitDuel come in handy, as their matched betting tools can automate these processes and streamline the whole experience.
Once you have found the fixture, you are going to need to place a back bet at the bookmaker. A back bet is where you predict a team or horse to win. Then, you will need to place a lay bet at a betting exchange. A lay bet is predicting a team will not win; for example, if you place a lay bet on a football team, it will be successful if that team draws or loses.
By the end of this process, you should have broken even or experienced a slight loss, but now you will have a free bet. Simply repeat this process using the free bet, and you will receive a profit if done correctly.
How Does Matched Betting Work
If, after this step-by-step, you are still unsure if matched betting is actually a safe opportunity, then allow us to explain with a real-world example as to how you will receive a profit. Now, for this example, we are going to be using very simple odds; when matched betting in real life, the odds will be much more complex, but this is why we recommend matched betting software.
Let’s imagine there are two football teams versus each other at the weekend, and the back odds for one team winning is 2.0, and the lay bet odds are also 2.0. If you place $10 on each outcome, you will have spent $20 overall. No matter the outcome, you will also make $20, leading you to break even but also qualifying for a free bet, as long as there is a promotion available, that is.
Now, let’s say there is another fixture with back odds for a particular team being 2.0 and lay odds of 2.0. In this scenario, you will once again cover both outcomes but use a $10 bet and your $10 free bet. No matter what the outcome, you will once again make $20; however, in this scenario, you have only spent $10 of your own money, meaning there will be a guaranteed profit of $10.
It is very important to note that in real life, the odds for both outcomes are rarely ever as profitable as that. In most cases, one outcome will have worse odds, and therefore, you must adjust your stakes accordingly.
What Are Betting Exchanges
Even people who don’t enjoy sports betting will know what a bookmaker is; however, there are many betting fans who have never used a betting exchange. Seeing as though the use of betting exchanges and lay bets is crucial in order to match bets successfully, we feel it’s important you understand what they are and how they work.
A betting exchange is similar to a traditional bookmaker; however, instead of betting against the house, you bet against other players. Users on betting exchanges have the opportunity to propose bets, and others have the opportunity to take up said bets. By doing this, you are able to place bets not commonly found in bookmakers and successfully match your bets.
Decimal Odds
You may have noticed that when we went over our example of a matched bet, we used decimal odds. This is because decimal odds are the preferred odd type for matched betting. Decimal odds are much easier to calculate and allow users to quickly compare the odds of a fixture in comparison to other odd types. Decimal odds work by presenting you with a number; for example, the odds may be 3.5. Then, you simply multiply it by your stake to work out your expected return. So, if you place a $10 bet with odds of 3.5, you can expect to return $35.
Summary
This has been our beginner’s guide to matched betting. We hope you find this useful and can take the knowledge forward and begin matched betting. Always check your bets to make sure there is no human error, as mistakes can lead to losses and failed bets.
