If you have ever looked at a sportsbook advertising a “$50 Free Bet” offer and thought that there was some way to get that amount without putting your own money at risk, then you have discovered what matched betting is all about.
Now, it is quite the opposite of regular gambling, where you simply hope one team wins. Matched betting is a methodical process; it doesn’t involve you getting emotionally involved with a “bet”. Instead, you carry out transactions designed to get you the bookmaker bonus value.
Matched Betting vs. Traditional Gambling: What’s the Difference?
Essentially, before you make any bet, you should really understand why this is different from gambling. In gambling, there’s always that risk that you will lose your bet. However, with matched betting, you remove that risk by placing bets on all possible outcomes.
| Feature | Tradition Gambling | Matched Betting |
|---|---|---|
| Primary Driver | Luck and Chance | Mathematical Equations |
| Risk Level | High (You can lose it all) | Low (Risk is limited to human error) |
| Outcome Dependency | You need a specific result | The result of the game does not matter |
| Goal | To “beat the bookie” | To extract bonus credit as cash |
Two Pillars for Matched Betting: Back Bets and Lay Bets
- The Back Bet: This is the traditional type of bet that you probably know. You are wagering on a certain thing happening (like “I bet the Lakers will come out on top”). You do this at a Sportsbook.
- The Lay Bet: This is the trick of the trade. You are betting on the opposite of something happening (like “I bet the Lakers will NOT win”). You do it on a Betting Exchange.
Phase 1: The Qualifying Bet (The Key to the Door)
Most sportsbooks are not going to simply give you a free bet; you must first “qualify” for it by placing a real-money bet.
- Step 1: Locate a “Bet $10, Get $30” promotion.
- Step 2: Find a match where the odds at the Sportsbook and the Exchange are very similar by using an Odds Matcher tool.
- Step 3: Make your $10 “Back Bet” at the sportsbook.
- Step 4: Right after, make your “Lay Bet” at the exchange.
- Result: You might lose a few cents (“qualifying loss”), but at least you’ve gained access to the $30 free bet.
Phase 2: The Free Bet (Turning Credit into Cash)
With the $30 free credit you have received, you follow the same steps as before, only this time you are spending the bookmaker’s money.
- Step 1: Pick another game (usually one with better odds to get the most profit).
- Step 2: Make your $30 free “Back Bet” at the sportsbook.
- Step 3: Use the Matched Betting Calculator to determine the exact stake and place the “Lay Bet” at the exchange.
- Result: Whoever wins the game, you will end up with some cash profit, generally it is 70% to 80% of the free bet value.
Tips for Your Success in Matched Betting
To keep your accounts operational and profits coming in, it’s recommended to adhere to the following professional standards:
- Use a dedicated bank account: Firstly, it helps in easy tracking of your “float” (the money you use to cover bets) and separation of your personal finances.
- Always double-check your odds: The bookies software odds are constantly moving, so you should keep both the sportsbook and exchange windows open at the same time before you hit “confirm”.
- Keep yourselves organised: Employ a spreadsheet to record the bonuses you have taken and where your money is presently sitting.
- Stay out of “Gubbing”: Be careful when betting only with promotions, as the sportsbooks will notice and may decide to “gub” or restrict your account. Consider placing a “Mug Bet” (a regular bet without promo) here and there to keep looking like a typical customer to the sportsbook.
Benefits of Matched Betting
- Low-risk strategy when done correctly
- Steady, foreseeable gains
- Doesn’t require gambling skills
- Perfectly compatible with other sources of income
Most people consider this a side job rather than a main source of income.
Risks & Mistakes You Should Avoid in Matched Betting
Even though it’s very safe, you can still lose money if you mess up:
- Making a mistake with odds
- Missing timing changes in markets
- Incorrectly calculating your stake
- Not reading the bonus terms carefully
Even little mistakes will have an impact on how much money you make.
Is matched betting legal?
It is legal to partake in matched betting as long as you do so in regulated betting markets, since, after all, you are only using promotions that are publicly accessible.
How Much Money Do I Need to Start?
You can start off with a budget of as little as $100-$200. This initial amount of money, also called a “bankroll”, is kept aside to pay for the first deposits and to handle the potential “liability” on the betting exchange.
What Happens if the Bookmaker Closes My Account?
That is referred to as “gubbing”. It is a fact that most matched bettors get gubbed. While it is a major inconvenience, there are still plenty of other sportsbooks around. You can greatly increase the lifespan of your accounts by sticking to “Mug Betting” methods.
