If you’ve been reading about qualifying bets, and qualifying losses in matched betting, then you are probably wondering exactly what they are. Well the good news is, once you understand them, you’ll get a better understanding on matched betting as a whole!

So if you want to know exactly what they are and why you need to track them, then keep reading to find out!

What Is A Qualifying Bet

In short, your qualifying bet is just the bet you need to place in order to hit the target for your free bonus or the promo. Most of the time you’ll notice your qualifying bet will be something like “Bet £10, get a £30 free bet”.

However, there is more than one common requirement. The most common ones are:

• Minimum Odds: Most qualifying bets require you to bet at odds that exceed a certain threshold (e.g., 1.50 or higher). This is to ensure that the bets carry a reasonable level of risk.
• Bet Type: Some promotions might specify that only certain types of bets qualify, such as singles, multiples, or in-play bets.
• Stake Amount: Often, there will be a minimum stake required for your bet to qualify. This can vary widely depending on the bookmaker and the specific promotion.

What Are Qualifying Losses

Assuming you already know about back betting and lay betting, and now you know about qualifying bets, the next thing to talk about is qualifying losses.

In short, qualifying losses are the small amounts of money you might lose when placing a qualifying bet to unlock a free bet. They’re an investment towards making a guaranteed profit from the subsequent free bet.

By taking the initial small loss, you’re opening the door to getting your free bet later on.

How Do You Calculate Your Qualifying Bet & Qualifying Losses

To calculate a qualifying loss, you compare the amount you lose on the qualifying bet at the bookmaker with the amount you win on your lay bet at the betting exchange. The difference (if you lose more at the bookmaker than you win at the exchange) is your qualifying loss.

How Do You Place Your Qualifying Bet

To find qualifying bets is actually pretty simple, you just need to do the following:

• Choose an Offer: Find a bookmaker’s promotion that includes a free bet contingent on placing a qualifying bet and make sure you’re meeting the minimum odds and bet type.
• Compare Odds: Go over to a betting exchange like Smarkets, and find the lay bet with similar odds.
• Use a Betting Calculator: Input the back and lay odds, along with the commission rate of the exchange, into a matched betting calculator. This will tell you how much to stake on both your back bet with the bookmaker and your lay bet at the exchange.
• Bet at the Bookmaker: Place your back bet at the bookmaker on the chosen event. This is the bet where you’re hoping for the outcome to happen (e.g., Team A wins).
• Bet at the Exchange: Simultaneously, place your lay bet at the betting exchange. This bet covers the opposite result of your back bet (e.g., Team A does not win). This is crucial as it helps to mitigate the risk involved with the back bet.
• Track the Results: Once the event concludes, one of your bets will win and the other will lose. Ideally, the outcome should result in a small, manageable qualifying loss, unlocking the free bet in the process.
• Follow Up: After your qualifying bet settles, check to make sure the free bet has been credited to your account, and then do the same thing again, ensuring the profit of your free bet this time.

(You can read my full guide on placing your first matched bet here.)

What Should You Aim To Lose On Qualifying Bets

When you’re looking at how much to lose on a qualifying bet, the trick is to not think so much about a number in terms of money, but rather a number in terms of percentages.

As a general rule of thumb, I like to make sure that the qualifying loss is under 5% before I place a bet.

As an example, if there was a deal for a £20 free bet, you’d want to make sure that your qualifying loss wasn’t higher than £1 if you were using percentages, or that it wasn’t higher than.

But of course, it does really depend on the person, if you’re happier taking a smaller profit, then you could move forward with higher qualifying losses. I know some people who are happy losing 20-70p per £10 which goes over my 5% limit at the top end.

One more thing to consider when matched betting is gubbing. This is where you account gets restricted from free bets because they realise what you’re doing. So, while you may notice a small boost in profits in the short term with higher qualifying losses, it might come back to bite you and get your accounts banned if you do it too much!

Tips to Minimize Losses:

1. Look for Close Matches: Find events where the back odds (at the bookmaker) and the lay odds (at the exchange) are very close. This reduces the difference you’ll pay out.
2. Use Betting Tools: Utilize matched betting calculators to accurately determine the optimal stakes for both back and lay bets to minimize your qualifying loss.
3. Stay Updated: Keep track of offers with lower qualifying loss requirements, which can sometimes emerge due to changes in odds or special betting promotions.
4. Consider Betting Exchanges with Lower Commissions: Commissions can impact your qualifying loss. Opt for exchanges that offer lower commission rates to improve your overall profitability. (Smarkets offer a 60 day zero commission incentive)

So In Short

While qualifying losses are a necessary part of matched betting, the strategy remains highly effective if managed properly, ensuring that the profits from free bets significantly outweigh these small initial losses.

Managing your bets wisely and understanding how to calculate and minimize these losses is one of the best ways to ensure you’re getting the maximum amount of profit from these necessary evils!