Have you heard of matched betting and you keep wondering what it is all about.
If you are new to betting on football or any other type of sports, you will soon learn that there are different types of betting strategies you can deploy. Check out our beginner’s guide to football betting here
In this guide, I will be sharing with you some tips and information on what you need to know about matched betting.
What is matched betting?
Matched betting has been with us for so long but we turned our backs to it.
Match betting is popularly known as arbitrage promotional offer, It is not a common type of betting in the betting world, although it also depends on the part of the world you are.
Also, matched betting markets which include various types of bonuses with the likes of Bonus Money take this gambling type to an ultimate level.
Using various algorithms and mathematical calculations, its aid bettors to know that with this type of betting, you can never lose.
It started in the United Kingdom but has however spread to other parts of the world.
A Matched Bet happens when you place two contrasting bets in order to minimize your risk. Let us give a vivid explanation of this type of bet:
1. if you place a BACK (it means you bet FOR a sports result) at the Betting company
2. if you place Lay (means you bet AGAINST a sports result) at a betting exchange, like Betfarm
For neophytes, a “Lay” bet means you are actually betting against an eventuality by accepting stakes on it (like a bettor does).
What this implies is that the two bets you stake cancel each other out, leading you to break even.
No profit and no loss. But the aim of gambling is to make a profit, so you have to mix ‘Matched Bet’ with a Free Bet offered by the Betting company
When you do these, then you begin to gain. This is exactly what Matched betting entails
Best Tips on Matched Betting.
Since matched betting is not your regular type of betting. You need some tricks to be successful in it, some of which are provided below:
1. You need to have a funded Betway account (or any other good betting exchange, Betfair and bet farm is not bad)
2. New and real betting account where Free bets can be available for signing up. (Searching on the web about“free bets “to find one will not be a bad idea.)
3. Adequate money to deposit in the betting company account.
If you are not knowledgeable about the availability of the kinds of free bets various betting company offers. Let me give a little bit detailed explanation about it below:
There are two ways Bookie Free Bet/Promotions can be applied.
1. A gambler must make sure he/she meets a “Rollover Requirement”. What this means is that you must have credited some funds into the account of a betting company and this ‘Free Money’ must be available for your stakes to be placed. Certain stakes must have been played on some eligible bets before any withdrawal can be allowed (e.g., betway and Bet365).
2. A bettor must also be eligible and qualified for a Free Bet. In this scenario, a betting company makes it compulsory that bettors must place some kind of “qualifying bet” using their own cash before being any type of free bet can be given to them. This type of bet is called “Stakes Not Returned”.
Whatever your case may be your first objective is to minimize losses while the other aim is to make a profit from the free money given by the bookmaker.
Another way you can do this is when you start checking matched betting, it is pertinent you know about the type of sports in which to match your rollover with.
How then can you select the appropriate Sporting Event to stake on?
Matching your bet will mandate that the Bookmakers (Betfair) odds are of a related odds. This should not be overlooked
A typical example is if a gambler stakes a qualifying bet at the Bookie by backing Manchester United beat Liverpool FC at decimal odds of 2.60, whilst Laying Liverpool FC at odds of 2.75 on the Betway exchange. The staker is actually evening out the Back bet by betting against Liverpool FC on the exchange.
Moreover, an issue arises when the difference between 2.60 and 2.75 is big with respect to the odds placed on the value of the bet. The bookmaker’s price is only 81.1% of the Lay odds on Betway. This seems to be a very weak match and it is preferable, you want your Lay odds to be more like 2.70 — a 95% match. The closer the opposite odds, the lesser the risk incurred on your part and the better for you.
Matched Bet Rugby
Now you may want to ask if the matched bet is only applicable to football.
It can also be applied to rugby, however, you must understand the sport well, the teams playing, and other necessary miscellaneous.
The basics of rugby sports betting must be known to you. The basics of rugby mean getting a circular ball into your opponent’s in-goal area. To place Matched betting in rugby sport, certain things have to be known:
1. The strength of both teams that you want to match bet on
2. The odds allocated to both teams by bookmakers, if the Nuggets are given 2.20 to defeat the team from Los Angeles with an odd of 2.50, then just like it applies to football, the risk is too enormous, and therefore you must find two teams which opposite odds must be very similar, something like 2.40 and 2.45.
3. Matched betting in rugby is not as straight forward as the ones in soccer and not all bookies allow matched betting on rugby, therefore check with your bookie.
Matched Betting NFL
Matched betting in the NFL is very lucrative, this is because unlike most sports odds gave in NFL are very similar and therefore very good with value.
Check teams that are in the same city or under the same ownership, they mostly will have similar odds which can be matched bet to give a reasonable profit.
Also, have at the back your minds the following knowledge:
1. Understanding the point variation available in the game.
2. Key injuries to star players and suspensions
3. It is better to matched bet two weaker sides than two stronger sides.
4. Know what point’s conversion means and how it affects your preferred team.
Matched betting strategy
There is some strategy necessary for you to succeed in matched betting, some of which are highlighted below:
1. Know that all Free Bets have certain terms and conditions attached to them.
2. Betting companies mandates that an initial qualifying bet should be staked for a bettor to be eligible for a free bet. Please, you need to get it accurate on the very first bet you place with the bookie.
3. Be on the Lookout for certain tricky terminologies that may inhibit you from been awarded the promotion. Remember: no free bet means no gain.
4Make sure you have enough adequate funds (Liquidity) on the Exchange to stake your Lay Bets.
5. Peradventure you notice that there is a shortage of funds on Betfair, you should consider queuing your bet at a higher price. This will enable you to reduce your liabilities and therefore increase your profits. Another way is that you can risk waiting for your bet to get matched even when there is no guarantee that it will be soonest.
6. Avoid newbies errors: Be careful when you are matching your bets, a matched bet cannot be unmatched.
7. Either you win, lose or draw, always know that there is another time and there is a strong possibility of you been successful with a matched bet than with any other market available there.
8. Don’t forget to use very low odds for qualifying/rollover bets and very huge odds for SNR free to limit your losses and make your profits more viable.
How to get free bets and bonuses from betting companies
When bookmakers do not want to give you free bets and bonuses, this may be a problem, because you will not earn anything to play Matched Betting.
What you will have is your bets canceling each other out and you breaking even. You need to realize that free bets are and bonuses are pivotal to your success in matched betting.
However, the problem with getting free bet and bonuses is that they do not come alone or freely but are accompanied by very strict and rigid terms and conditions.
These terms and conditions state what you need to qualify for a free bet, to begin with, various odds that you can bet on, and what requirements have to be met for the bettor to withdraw any funds from the account
How then free bets are given?
Free bets are promoted for signups in bookmaker’s platform and they can be advertised like this:
“Bet $40 to get $40 free bet (note that your stakes won’t be returned)
That means you will have to bet $40 to get a free bet of exactly the same amount as shown above.
However .the problem is that even if you bet $40, you may still not get a free bet of $40, however, gambling is not like that, you should think positive if not betting is not for you. Therefore, if you don’t risk $40, it is likely you will not get free bets and bonuses.
In conclusion, Matched betting may be unfamiliar to you, but it is a market worth dabbling into, what you need is to get the basics, and please check out oddsmonkey.com to get a clearer rate for your matched bet.
PS: If you are a fan of matched betting, then you might be interested in learning about Lay Betting