Matched Betting is a form of betting strategy that has exploded in popularity in recent years due to its ability to potentially lock in a profit thanks to its unique way of operating. However, despite its increasing popularity, there are still countless myths and misconceptions that prevent people from trying it out.
In this article, we will take a look at some of the most common myths and misconceptions and unravel the truth, if any, behind them. We will also provide some helpful tips and advice for those who may want to give matched betting a try. Hopefully, by the end of this article, you will have a much-improved understanding of what exactly matched betting is, how it works, and whether or not it is right for you.
Matched Betting is a Form of Gambling
One of the most common misconceptions about matched betting is that it is a form of gambling. However, this is not true. To understand how this differs, we must firstly explain, what is matched betting? In the simplest of terms, matched betting is a strategy that involves placing a bet on all possible outcomes of a sporting event. The bets are placed on different bookmakers, and by finding the best-competing odds, using free bets, bonuses, and promotions, you could potentially lock in a certain margin of profit, regardless of the event’s outcome. By utilising the matched betting strategy, you are able to massively reduce the risk when sports betting.
Although matched betting is a strategy, it doesn’t come with the same level of risks. Matched betting relies on mathematical formulas to identify opportunities for profit, whereas sports betting as a whole is 100% luck based. Matched betting also provides an entirely different experience and outlook to bettors.
Matched Betting Requires A Lot of Time and Effort
Another common myth about matched betting is that it takes a lot of time and effort. This myth does have some truth in it, as it can take a while especially at the start. The first few hours, or sometimes days, should be spent learning the basics of matched betting, and this can span topics such as how to find and take advantage of free bets and promotions, how to place bets, and how to calculate your profits.
However, once you have learned the basics of matched betting, it becomes significantly easier. Many matched bettors only spend a few hours per week and are still able to identify the best matched betting opportunities. There are also many pieces of software and other alternative tools available that can further reduce the amount of time and effort required. Some of these we even have here at OddsMonkey should you wish to check any of them out for yourself.
Matched Betting is for Experienced Bettors Only
Many people believe that matched betting is an overly complicated technique that only experienced bettors can use. However, this simply isn’t true. As we have previously discussed, it only takes a few hours to a few days for people to learn, and once you know the basics, it is a very simple strategy to lock in profits. In fact, matched betting is often recommended as a great way for beginners to get started with betting. This is because it is a low-risk strategy that allows you to learn the basics of betting and how to manage your bankroll effectively.
For most people, learning how to match bets is not that difficult; for some people, though, it can provide more of a challenge. However, even for those who may struggle to grasp matched betting initially, there are many resources available at OddsMonkey that can help beginners learn how to matched bet, including step-by-step guides, video tutorials, and even a matched betting calculator which can automatically do any necessary calculations.
Matched Betting is Not Profitable in the Long Run
Many people also believe that matched betting is not profitable in the long term. However, the whole concept of matched betting allows bettors to take advantage of free bets and promotions offered by bookmakers, in order to cover all eventualities of a game or race profit.
Moreover, as you gain more and more experience with matched Betting, you can begin to take advantage of more advanced strategies, such as utilising higher odds and using multiple bookmakers. With these strategies in place and using them effectively, this could potentially become one of your side hustle ideas should you wish.
Matched Betting is a Scam
One of the most off-putting misconceptions to new bettors is that matched betting is illegal and/or a scam. This, however, couldn’t be further from the truth. Matched betting is a legitimate and legal strategy that is widely used by bettors to capitalise on the differences in odds. It is not illegal or fraudulent but rather a way of taking advantage of bookmakers.
It is important to note that while matched betting is legal, it is important to follow the terms and conditions of the bookmakers to avoid any issues. As this strategy exploits bookmaker discrepancies though, matched bettors have a habit of getting their accounts either restricted or banned due to the profits they are locking in. Therefore, it is also worth bearing in mind this potential occurrence.
In conclusion, matched betting is a legitimate strategy that can transform betting experiences for those willing to put in time and effort to learn and apply the strategy correctly. Despite the many myths and misconceptions surrounding matched betting, it remains suitable for beginners as well as experienced bettors and could be profitable in the long and short term should the practice be applied correctly.
By debunking these myths and misconceptions, we hope to encourage more people to explore matched betting due to the benefits it presents. However, it is important to approach matched betting with a disciplined and responsible attitude, as this still involves real money betting. With a solid understanding of the strategy and a disciplined approach, this stratergy can open up additional opportunities in regards to your sports betting endeavours.