Matched betting is a form of gambling that has been around for a while. It is a low-risk type of bet, but there are those that took it to the next level—no risk matched betting. Today, we will provide you with a guide on what it is and how to make it work.
Matched betting is used in sports betting. The people who do this have a low tolerance for losing a bet, and this is why they do no-risk matched betting. It has a guaranteed profit.
In matched betting, you use a free bet. A free bet is something you get only if an online bookmaker like GG Bet gives you free money. Usually, you get free money in the form of a bonus after you register at the bookmaker’s site. Some VIP players also get free money from time to time.
A lot of online bookies do not allow you to withdraw the free money they gave you. They give you free money so you can try their platform. If you use free money to make a bet, you can withdraw the winnings, provided that you also met some conditions. These conditions vary from one casino to another.
The Two Types of Matched Betting
The two types of matched betting are “backed bet” and “lay bet.” In a backed bet, you are backing a team or a person to win. For example, you are betting that LA Lakers will be the champion for this season. As such, you place a bet on that team. If LA Lakers win the championship, then you also win. If they lose, you also lose your bet.
In a lay bet, you are betting against something. This something is an outcome that is almost certain to come true. For example, let us say that Manny Pacquiao is a heavily favoured boxer against Keith Thurman. In a lay bet, you are saying that Manny is NOT going to win. If your prediction is true and Manny loses, you win the bet.
How Does Matched Betting Work Then?
Let us say that you invested $75 in an online bookie. You deposited $75. The bookmaker gave you an extra $75 because of the matched betting bonus. Also, let us have a scenario where the LA Lakers is in the final game against the San Antonio Spurs. You bet your $75 that LA Lakers will become a champion. On the other hand, you use your extra $75 and bet that LA Lakers will lose.
At this point, you are “matching your bet.” However, if the odds are even or 1:1, then how will you even make a profit?
The money is in the odds. Let us say that the odds are like this:
- LA Lakers – 3.0
- Spurs – 5.0
What this means is that if you bet $1 on Lakers and they win, you will win $3. Your profit is $2. If you bet $1 on Spurs and they win, you will get $5, and your profit is $4.
So, you have $75 as your qualifying bet—your original bet. And then you have an extra $75 as your free bet. You wager $75 on Lakers, and then you wager $75 on Spurs.
Here are the scenarios:
- Lakers win – you get $225: your investment was $75, so your profit is $150.
- Lakers lose – you get $325: your investment was $75, so your profit is $300.
As you can see, there is no way you can lose. However, you have to make sure that you only bet on odds that offer you a good profit or return. Do not bet on horseracing or similar events. You have to look for a sport where there are only two competing teams or persons.
So, are you ready to try matched betting? As a last piece of advice, matched betting is not always automatic. Many betting sites have an area called “exchange.” This is the page on the site where you can bet this way. Be careful, as some bookmakers do not allow this kind of arbitrage. Make sure that you read their terms and conditions before betting, especially if they give you free money. This way, you will know how much you can withdraw and how much is the minimum bet, among other things.