Understand Matched Betting in 1 Minute
What is Matched Betting?
In a nutshell, matched betting is a way to turn bookmaker sign up offers into real profit.
A typical example of a sign up offer is: ‘Bet £10 to get a £20 free bet’.
A typical example of a sign up offer is: ‘Bet £10 to get a £20 free bet’.
When you open an account with a bookmaker and place a £10 bet, you’ll qualify for a £20 free bet! So the £10 part is known as a ‘qualifier bet’ and the £20 part is known as the ‘free bet’.
Matched betting shows you how to turn that £20 free bet into profit!
Understand Matched Betting in 1 Minute
Placing the qualifying bet
One of the biggest concerns around matched betting is that it must be gambling. Well, it isn’t and we’ll show you why…
By taking a step-by-step look at how traditional betting works compared to how matched betting works, you’ll be able to see the difference between the two.
By taking a step-by-step look at how traditional betting works compared to how matched betting works, you’ll be able to see the difference between the two.
Let’s place our first bet of £10 on a football match: England to beat Italy.
We call this the ‘qualifying’ bet because placing it will qualify us to receive the free bet.
Understand Matched Betting in 1 Minute
Placing the qualifying bet
One of the biggest concerns around matched betting is that it must be gambling. Well, it isn’t and we’ll show you why…
By taking a step-by-step look at how traditional betting works compared to how matched betting works, you’ll be able to see the difference between the two.
By taking a step-by-step look at how traditional betting works compared to how matched betting works, you’ll be able to see the difference between the two.
Traditional Betting
In traditional betting you risk your money on the result of the bet.
- If England beat Italy, you win back the £10 you placed plus more. You are in profit.
- If England lose to Italy, you lose your £10 in real money.
- If England and Italy draw, you lose your £10 in real money.
There’s only one way to win when gambling: the thing you bet on has to happen. It’s luck.
Matched Betting
In matched betting, we match our first bet with another bet. This second bet is called a ‘lay’ bet.
- If England beat Italy, you only lose 15p
- If England lose to Italy, you only lose 15p
- If England draw with Italy, you only lose 15p
Because you placed a lay bet, you only lost 15p, no matter what happened to England in the football match.
“Huh?! Isn’t matched betting about making a profit?”
Yes it is, but the profit comes from the free bet. Expect to lose a few pence on a qualifying bet but remember that the point of it was to unlock the free bet. This one’s worth £20.
“Huh?! Isn’t matched betting about making a profit?”
Yes it is, but the profit comes from the free bet. Expect to lose a few pence on a qualifying bet but remember that the point of it was to unlock the free bet. This one’s worth £20.
Understand Matched Betting in 1 Minute
Placing the free bet
Now we’ll look at what happens with a free bet when you gamble versus when you matched bet.
With matched betting, you can lock in a profit.
With matched betting, you can lock in a profit.
This time, we’ll bet on Scotland to beat Brazil.
Understand Matched Betting in 1 Minute
Placing the free bet
Now we’ll look at what happens with a free bet when you gamble versus when you matched bet.
With matched betting, you can lock in a profit.
With matched betting, you can lock in a profit.
Traditional Betting
Again: because this is gambling, the chance of profiting from your free bet can’t be guaranteed.
- If Scotland beat Brazil, you win
- If Scotland lose to Brazil, you don’t win but you don’t lose any of your own money
- If Scotland and Brazil draw, you don’t win but you don’t lose any of your own money.
Remember: gambling relies on luck. However, with matched betting, you can turn the free bet into profit.
Matched Betting
Again: to make sure this isn’t gambling, you’ll need to match your bet by placing a ‘lay’ bet.
- If Scotland beat Brazil, you win £16
- If Scotland lose to Brazil, you win £16
- If Scotland draw with Brazil, you win £16
No matter what happens, you win £16 because the bookie gave you the £20 and your ‘matched bet’ covered the other outcomes. That means you can pocket a profit.
And finally…Remember the 15p you lost on the first bet? Take that from the £16 you won from the free bet and you’ve made a profit of £15.85 profit from this offer.
NO MATTER WHAT HAPPENS IN THE GAME!
Matched Betting For Dummies
If you are unfamiliar with the term matched betting and are a complete newcomer to this side of sports betting, this betting strategy enables you to potentially lock in margins of profit by covering all possible outcomes of an event. Although this may seem relatively complex, there are a few simple steps that can be taken that, if done correctly, could help you achieve this feat.
What Is Matched Betting?
Before you start placing bets, you should first familiarise yourself with the types of bets you will likely be placing. These are categorised into two different things, back and lay bets, with one relating to betting on an outcome to occur and the other for the event not to occur. Placing one of these with a bookmaker and another with a betting exchange allows users to cover all eventualities of an event, ensuring a margin of profit could potentially be locked in.
What Is A Qualifying Bet?
However, bookmakers often offer free bets or promotions to new or existing customers. Bettors could potentially receive these after placing their initial back and lay bets, which is referred to as a qualifying bet. The purpose of the qualifying bet is to trigger the bonus or free bet, which you can then use to lock in profit via the matched betting strategy.
Placing Your First Qualifying Bet
The first step in order to claim a qualifying bet is to select a bookmaker that is offering a specific free bet or promotion to new customers. For example, these can be in the form of “bet £20 get £20’. After selecting a bookmaker, you place a bet on the bookmaker matching the requirements in order to claim the promotion. Although this is done via a bookmaker, you will still be simultaneously laying a bet on a betting exchange in order to counteract this initial bet. In order to determine the stake needed to cover this on the betting exchange, you could use one of the many matched betting calculators to ensure that the opposite outcome is covered effectively.
After this, all you have to do is wait for the sporting event you have wagered on to settle. Regardless of whether the selection wins or loses, one of your bets will win, cancelling out the loss on its counterpart. From this, the bookmaker will credit your account with the respective bonus from which you can continue to apply the matched betting strategy and transform these free funds into real profits if applied correctly.
Matched Betting For Dummies At OddsMonkey
If you want to delve further into the world of matched betting, OddsMonkey is a comprehensive platform that provides step-by-step matched betting guides and essential tools to make matched betting accessible to beginners. All of the resources are made to simplify the entire process, making it easier for newcomers to start capitalising on all of the various bookmaker promotions and offers. The valuable assistance offered by OddsMonkey is paramount when it comes to matched betting for dummies!
