What Is Matched Betting & How Does It Work?

Matched betting is a betting technique used to profit from the free bets and incentives offered by bookmakers.

(Remember, bookies are always want to attract new customers, which is why they always give out free bets. They also try to keep old customers hooked, which is why they give out reload bets)

It’s risk-free, which is why it’s also called “no-risk betting” as it is based on betting on all sides of a game to get a free bet. And then doing the same thing again, with your free bet and your money.

So the first bet you make won’t actually make you money, and you’ll most likely lose a few pennies. However, the second bet you make is where the profit comes in. As you’ll now be betting on both sides once again, however, this time, you’ll only be putting your money in once instead of twice, with the free bet, putting the other half of the money in.

Here’s a breakdown of how matched betting works:

1. You bet £20 on Team A to draw at a bookmaker (known as a back bet) with odds of 1.50 (which qualifies you for a free bet of £20).
2. You then go to a betting exchange and bet that Team A will not draw (known as a lay bet), with the same odds, or are as close to the same possible, ensuring your loss or win on either platform cancels the other one out.
3. This then unlocks your free bet which you can place on another team to win at different event/match, using a bookmaker.
4. Then you simply place a lay bet against Team B at a betting exchange, and keep the profit on whichever one comes in.

Here’s a real life example, which you can learn more about in this article: Your First Matched Bet – A Step By Step Tutorial

So as you can see, matched betting involves betting on all possible outcomes of an event to guarantee a profit or break even, regardless of the result. This is done using two different platforms:

• A Bookmaker: Where you place your regular bet on an outcome (e.g., Team A will win).
• A Betting Exchange: Where you place a lay bet, which is a bet against the same outcome (e.g., Team A will not win).

This strategy ensures that you cover all outcomes, making your bet risk-free in terms of losing your own money.

After that, the process is just rinse and repeat. You just have to keep using new free bet offers from different bookmakers or taking advantage of regular promotions from the same bookmaker to consistently earn profit.

Just Remember

• It’s important to find bets where the back odds at the bookmaker and the lay odds at the exchange are close to each other. This minimizes your cash risk during the qualifying bet.
• Always check terms and conditions of free bets to ensure your bets qualify.
• Keep track of all your bets and finances to monitor your profits and stay organized.

By following these steps and using the tools available, matched betting can be a highly effective way to make money from the free bets and bonuses that bookmakers offer.

Why Do People Lose Money Matched Betting?

While matched betting can be profitable, it requires organization and attention to detail to ensure that all bets are placed correctly and that offers are fully understood. Additionally, it’s important to note that bookmakers can restrict or close accounts that they suspect of matched betting, which is legal but discouraged by bookmakers. Therefore, it’s essential to stay informed and discreet.

How Does Matched Betting Differ From Gambling?

Matched Betting and gambling differ in a couple of different ways. But the main way they differ is that matched betting involves a systematic approach to consistently make money, whereas gambling you’re leaving it up to luck or chance.

Fundamentals and Risk

• Matched Betting involves using free bets and promotions offered by bookmakers to place bets on all possible outcomes of an event. By doing so, it guarantees a profit regardless of the outcome. It’s considered low-risk because you’re leaving nothing to chance, and you can only lose money through your own mistakes.
• Gambling Traditional gambling involves placing bets on events without securing all outcomes. This makes the results unpredictable and dependent on luck or chance. The risk can be high, as there is no guarantee of a return, and the odds are usually in favor of the house.

Profit Consistency and Skill Level

• Matched Betting: Requires a systematic approach and some initial understanding of betting terms and tactics. It is more about applying a strategy systematically rather than making speculative decisions. The returns are generally consistent and predictable if the process is followed correctly.
• Gambling: Often influenced by emotions, luck, and subjective judgment. Skill can play a role, particularly in games like poker or sports betting where knowledge and strategy can improve one’s chances. However, outcomes are still fundamentally uncertain, and profits are inconsistent.

Matched betting can be an effective way to generate income from the bonuses and incentives bookmakers offer, transforming what would be a gamble into a calculated, risk-averse strategy. It differs significantly from traditional gambling, where the stakes are truly at the mercy of chance, making matched betting a popular choice for those looking to make sure money without the gamble.

What Do You Need Before You Start Matched Betting?

• Initial Bankroll: Have enough funds to place initial bets. This doesn’t have to be a large amount, but enough to get started with a few bets.
• Betting Accounts: Open accounts with several bookmakers to access a variety of free bets and promotions.
• Betting Exchange Account: Sign up for a betting exchange like Betfair to place lay bets, which are crucial for covering all possible outcomes.
• Identification for Verification: Prepare your ID (like a passport or driver’s license) to verify your accounts with bookmakers.

Optional

• Matched Betting Service Subscription: Use a service like OddsMonkey for access to bet calculators, tutorials, and the latest offers.

The Risks Of Matched Betting

If you’re doing everything right and following the system properly, there are no real risks that are going to effect you financially, however, when mistakes are made or based on your own predisposition, here are some things to be aware of:

1. Risk of Addiction: Even though matched betting involves calculated moves to secure profits, the very nature of being involved in betting platforms can potentially lead to gambling addiction. Regular exposure to betting environments can trigger a desire to gamble, especially if you’ve struggled with gambling in the past.

2. Making Mistakes: Matched betting requires precision. A simple error in calculation, misunderstanding odds, or placing the wrong bet can turn an expected profit into a loss. These mistakes can be particularly costly, especially for beginners who are not yet adept at navigating betting exchanges and bookmaker terms.

3. Account Closure or Restrictions (Gubbing): Bookmakers are in the business of making money and matched bettors take advantage of promotions in a way that is not profitable for them. If a bookmaker suspects that you are only betting to claim free bets or promotions, they might restrict or close your account, or gubbing. This can severely limit your ability to continue matched betting, however some there are ways you can prolong the health of your account using mug bets.

5. Market Saturation: As more people engage in matched betting, finding profitable promotions becomes more challenging. Bookmakers might also tighten their terms or offer less generous promotions, which can diminish the potential profits over time.

Recap

So as you can see, when done right, matched betting is a great way to add a little bit of additional money to your income every month. However, the key here is to make sure that you’re doing it right. The only reason people lose money when they’re matched betting is due to human error.

If you like the concept of matched betting, then make sure you check out the next article, where I’ll give you a step-by-step walkthrough on how to put through your first matched bet.