Matched betting is regularly touted as a way of making money without losing your stake. Its proponents say you can win your bets consistently while doing minimal research. Is that possible? Is matched betting profitable in the long run?
The short answer is yes. You can make profits consistently through matched betting. The long answer is that you can only make money from matched betting if you do it right. Below is a guide on how to make matched betting work for you and four reasons you should use it to make money in the long run.
What is Matched Betting?
Matched betting is a betting strategy that guarantees you a profit when you back and lay the same bet. A back bet is a wager supporting a team to win. Let’s say you believe Manchester City will defeat Manchester United in a derby match.
You can place a back bet on Manchester City to win. Nearly every betting website lets you place back bets. So, you have plenty of choices. However, you need to bet on a website with free bets and bonuses for matched betting to work.
A lay bet, by comparison, is a wager saying a team won’t win a match. In the game between Manchester City versus Manchester United, you could lay a bet on City not to win the match. That means if the game ends in a draw or United wins, you walk away with a profit.
You Need Two Betting Accounts
In matched betting, you need two types of betting accounts. First, you need a bookmaker that allows back bets—AKA—almost every sportsbook in the world. Then you need a betting website for lay betting, usually Betfair.com.
As we mentioned above, look for a betting website with a bonus. You can find a list of top-rated betting sites in the UK at bettingsites.info. On top of that, you’ll find a step-by-step guide on matched betting. And if it helps, you can read testimonials from people who use matched betting successfully.
Betfair isn’t the most generous bookmaker out there. But don’t worry if you don’t receive a welcome offer at the website. Its purpose is to help you lay bets and you can use your cash deposits for this purpose.
There’s a Qualifying Bet
Although matched betting is supposed to produce guaranteed profits, you might lose a small amount of money through the qualifying bet. A qualifying bet is a wager you must place using real money before you get access to a free bet.
Let’s say 888 Sports has a £30. To claim this offer, there could be a requirement to place a £10 bet using your own money. This is the qualifying bet. Crucially, choose a match with close odds on the two sportsbooks you plan to use.
This helps reduce your loss. Let’s England has odds 2.08 on one bookie and odds 2.1 on Betfair. If it wins, your bet brings a profit of £2.08. If it doesn’t win, you lose £2.1 on Betfair. Technically, this means you stand to lose £0.20 from your qualifying wager.
The Winning Bet
After you place your qualifying bet, next is to place a wager using your bonus. It’s the same process used in the qualifying bet. But now, you use the £20 or £30 free bet from your first bookie and an amount to lay the bet on Betfair.
Here’s an example. You find a game with 2.0 and above odds-on William Hill, 888 Sports of whichever sportsbook you plan to use for back betting. Let’s say you back Barcelona to beat Real Madrid in an El Clasico game.
Barcelona have odds 2.0 on the first bookie and odds 2.50 on Betfair. If you place a £20 back bet, head over to Betfair and check the amount of money you need for a lay bet. Lay your bet and wait for the profits. You’ll make money whether Barcelona or Real Madrid wins.
4 Reasons to Use Matched Betting
Now that you know how to use matched betting to lock profits regardless of a game’s outcome, below are five reasons to use this strategy regularly:
Consistent Profits
Making profits consistently is the most difficult thing to achieve in sports betting. But it’s also the best thing about matched betting. Not only can it help you to win money regularly, but it reduces the risks of betting to zero.
How great is that? The only time you can make a loss from matched betting is if you make multiple errors. Let’s say you pick a bonus with high playthrough requirements or a match with poor odds. Otherwise, you’re guaranteed to make money.
You Can Wager on your Favorite Team
So, you love Arsenal but you never bet on it to avoid emotional betting? Matched betting makes it easy to wager on your favorite team stress-free. You might be confident it will win even when it has no chance.
And guess what? You can still back on Arsenal to win. The only rule is that you must also place a lay bet on Arsenal to draw or to lose the match. That way, you can cheer your favorite team all you want and make money whether it wins or loses.
Beat the Bookies at their Game
Everyone says the house always wins. Well, those people haven’t tried matched betting. With this betting strategy, all it takes is a free bet from the house and a small cash deposit to win regularly.
Beating bookies isn’t just exciting but it also fulfilling. Sportsbooks always seem to win. Being able to beat them multiple times gives you a reason to bet on football every weekend.
It’s a Great Side Hustle
In these COVID-19 times, everyone is trying to make ends meet. Looking for multiple ways to make money is one of the most recommended strategies for increasing your savings. Matched betting can help you build a nest egg to fall onto if you ever need some emergency cash for any reason.
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