Matched Betting Guide
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Today’s fast-paced environment leaves no room for ignoring marketing. The meteoric rise of the Internet has led to a proliferation of items that sound too good to be true.
Putting money into the market is a sort of gambling. You are taking a position and expecting to profit from the investment’s success (or failure). Increased odds of winning are one reason why matched betting is gaining in popularity.
In this piece, Outplayed will walk you through the entire guide to matched betting.
How does matched betting work?
What matched betting is all about is wagering on every conceivable outcome of an event to collect free bets and incentives. After claiming your bonus, you can continue betting similarly to guarantee a profit.
What’s the catch?
There is no catch so long as you practice risk management by hedging your bets and betting at the best possible odds. Later on in the piece, I’ll address this.
The only catch is that bookies normally need clients to risk their own money (at minimum odds) before earning the free bet.
Matched bettors sidestep this by placing one bet with the bookmaker and another wager at the exchange on the opposite outcome. If the bookmaker’s wager loses, the insurance will cover the difference. This method typically results in a short-term loss of £1–£2 before generating a profit from the free bet.
The only caveat is that bookmakers don’t hand out free bets like candy.
Exchanges of Betting
Bookmakers and betting exchanges operate in very different ways. Instead of betting against a bookie, you bet against other players.
That’s why it’s termed an “exchange”: because wagers are being traded between participants.
An individual who wishes to wager can submit a “bet proposal” to a betting exchange. A bet is said to be “matched” when another user accepts it—the second user functions as the bookie in this scenario.
The traditional bettor makes a back bet, whereas a lay bet is made by the user taking on the role of the bookmaker in matched betting. You will nearly always be on the lay side when using a betting exchange for a matched bet. Although rarely occurring, you may find yourself assuming the role of a back user at some point.
The lay user acts as a bookie and pays out winning bets to the back user if the back user’s wager is successful. If a user places a £10 back bet at odds of 3/1 on Manchester United winning, and the team does win, the user who placed the lay bet must pay the back user £30. In matched betting, £30 represents the lay user’s liability or the amount they stand to lose if the bet doesn’t win.
When placing a bet with a bookmaker, you can expect to receive money from the losing side of the wager. Most of your time on the betting market will be spent “laying” or taking the role of the bookmaker. If there are more than two possible outcomes to an event, you can still cover them with just two bets by employing this strategy.
What you need for matched betting
The minimum age requirement is, of course, 18 years old. Outside of that, though, Matched Betting requires simply the following three things:
Money
Both the bookmaker and the betting exchange will want deposits from you.
Matched betting requires capital investment. However, you don’t need to be wealthy to get started; you may gradually increase your bankroll with low-value offerings (Free Bets).
Free bets start at roughly £10 at the very minimum. You should have around £30–£70 lying around if you want to take advantage of one of these offers. For the ‘Qualifying Bet’ and ‘Free Bet,’ enter the following.
Free bet
You’ll want to choose a bookie or exchange that offers free bets.
Brand-new clients who have never made a deposit or placed a bet before are eligible for the best and biggest free bets.
You will be limited to “reload” deals for existing clients if you have previously signed up with multiple Bookmakers.
It is crucial to remember the minimum deposit amount, promotional code, and “opt-in” conditions while claiming a bonus. You need to get this correct to take advantage of the deal.
Sign up for a Matched Betting Service if you want to know about the finest free bets as soon as they become available. The top ones provide a list of free wagers each day.
Betting exchange account
You’ll want to join at least one betting exchange if not more.
Betfair stands out as the most viable option because of its high liquidity. As a result, you can place (opposite) Lay bets with a lower probability of ever waiting in a queue for your stake to be matched. There are, however, alternative exchanges that offer their service at a reduced commission rate.
The Walkthrough
We’ll explain Coral’s introductory offer for new customers. No matter what happens, you’ll still come ahead by £15 with this strategy. Small bets are ideal for gaining experience before taking on larger wagers and deals.
If putting multiple bets at once fills you with dread, have no fear; we’ll walk you through it.
Create a Smarkets account
You need to join a betting exchange before you can start placing bets. In this tutorial, we’ll use Smarkets because it’s the greatest choice for beginners. With their introductory 0% commission offer, you can increase your earnings potential significantly.
Create a Coral account
New clients at Coral can get £20 in free bets when they make a $5 wager.
There are better sign-up bonuses than this, but we always tell people just getting into matched betting to start slow and work their way up. After fulfilling a small number of offers, your self-assurance and financial resources will increase, allowing you to take on increasingly challenging tasks.
Decimal odds are the way to go
If you want to compare probabilities quickly, you should use decimal odds.
Decimal odds are calculated by multiplying one’s wager by the odds. A wager of £10 at odds of 3.50 would return £35. Your £35 total includes your first £10 bet, for a total of £35.
Qualifying bet
You can now claim your offer as you have accounts set up. To earn your free wager, you must place a qualifying bet.
The sport of your choice is irrelevant to your qualifying bet. However, the minimum odds required for Coral’s welcome promotion are 1.50 (1/2).
Use your free bet
You could place your free wager on anything and hope for the best, but then you’d be relying on luck. In matched betting, the goal is to profit from a free wager. What’s the process? Simple! Just do it again.
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