Who are you calling a mug? And just what is a mug bet? This post will look at mug betting, punting, and whether either of them have a place in matched betting.
What is a mug bet?
Mug bets are big in the world of matched betting. Where matched betting relies on bookies’ promotional offers, mug betting doesn’t. Instead, mug bets are made on selections without using free bets or bonus. However, the matched betting process is still used, so back and lay bets are still placed. The aim is to imitate a regular bettor and their betting pattern.
Mug bets are placed at low odds or on selections where the back odds are closely matched to the lay price at the betting exchange. Another example of mug betting is backing and laying a particular football team to win every time they play. This makes it look like you’re betting on your team. Remember: always lay a mug bet off.
What is punting?
The difference between mugging and punting, is that a normal punter would only place a back bet. They wouldn’t lay it off, so the money staked is at risk.Therefore, a punt is a straightforward gamble. If it wins, the bettor receives a profit but if it loses, the punter is left with nothing.
Mug betting and matched betting
In the matched betting fraternity, mug betting is a common practice. Some bettors believe that mugging convinces the bookmaker that they are ‘normal’ punters. Their argument is that it reduces the chance of accounts being closed or restricted.
But does acting like an average punter really help? There are people ‘for’ and ‘against’ the theory but the answer is that no one knows. When bookmakers block or restrict accounts, they don’t usually disclose their reasons. Find out more about account restrictions in this post.
Now we’ve answered the question “what is a mug bet?” and you know the differences between mugging and punting. But only you can decide if it’s a strategy you want to add into your matched betting strategy.
As you can see from this post, there’s a load of jargon in the matched betting world so download OddsMonkey’s glossary to make sure you know what’s being said.