Matched Betting – How to Succeed and Minimize your Liabilities

We’d all love to have a system that produces a stream of profitable bets. Matched betting is one such method that can be used and takes advantage of free bets handed out by online bookmakers.

Cover all the Bases

The aim with matched betting is to see yourself covering all the possible results in a match, whether it be an NFL game or the latest NBA fixture. It is something that is being used more and more, especially since the changes in gambling laws in the USA. We’ll cover the basics here, but there are plenty of resources for a matched betting guide if you want to find a clear and detailed explanation.

Free Bets on Offer

The online gambling industry is a highly competitive one, and to attract new customers sites give out welcome offers. Promotions are often in the form of free bets and later other promotions can be offered. It’s good news for customers (though it is important to read all the terms and conditions) and ideal for those who wish to try matched betting.

How Does it Work?

Matched betting involves the use of back and lay betting to see you in a position where all the possible results of a match are covered, but how is this possible?

When you join a site and receive that welcome offer, you will likely have some free bets on their way. These don’t just arrive automatically; you are usually required to place a qualifying bet. Once that has been settled, along come the free bets. Now it’s time for matched betting to take centre stage.

The Importance of the Exchange

Free bets aren’t the only innovation in recent years. The arrival of betting exchanges, such as Betfair has been of paramount importance. On these sites, it’s not a case of the bookmaker v the punter, instead, it is punter v punter and that’s good news for those wanting to use matched betting.

Back and Lay Bets

You need two bets for matched betting. One is a back bet, and this is a wager that sees you betting on something to happen. It could be DC United to win an MLS fixture or the LA Lakers to win the play-offs. If that happens, your bet is a winning one. This bet will be made on the site you have just joined, using your free bet.

A lay bet is betting on something not to happen. This is the bet you will make on the exchange. So, if you wanted to gamble on the Lakers not winning the play-offs, your bet will be a winner if they fail to do so.

Also needed is a match betting calculator. There are plenty of these online, and they calculate how much you need to stake on the lay bet to ensure you can make a profit.

Making a Profit

Say you’re a fan of NFL, and you want to place a bet on New England Patriots to beat the San Francisco 49ers. You have just joined a site and have now received some free bets. You decide to try out matched betting, so the first task is to place a back bet. You now use your free bet to back the Patriots to win the match. Now if they lose, you’ve not lost anything as it’s a free bet, but a profit is much more desirable.

Now go to the exchange and place a lay bet on the Patriots not to win. The calculator will have had the odds of this inserted, so you will now know just how much to stake. If the game ends level or the 49ers win, then the lay bet is won. You now have all three possible results covered, and whatever happens, you make a profit. It might not be massive, but any profit is better than a loss.

Once you have tried this a few times, the process will become extremely straightforward for you. There’s always the chance of you making a mistake when going through this process that may cause a loss, so don’t rush this.

Is it Legal?

‘Is it legal?’ is a popular question for those considering some matched betting. The answer is that yes, it is a legal practice but not one that the bookmakers like. They will do their best to try and spot instances of matched betting used by customers and take action against them.

You can see, therefore, that this system can work for you. It’s possible to join plenty of sites and keep receiving free bets. There are also the ones that come along via other promotions, so good luck in trying matched betting.