We can describe this type of betting as a risk-free method that punters use to earn profits from the free bets and bonuses offered by online bookmakers.
This comprehensive matched betting guide provides you with everything you need to know, especially new bettors.
Here we have explained matched betting using simple words, breaking down the complexities. Moreover, we have explained various terms such as back-to-lay, lay-to-back and more. Let’s start.
What is Matched Betting?
Matched betting is a technique used to cover all outcomes of an event. It involves placing bets on all outcomes of an event, using free bets ensuring that you make profit, regardless of the outcome.
In other words, you back and lay against the same result to remove all risk. With this bet, the punter cannot lose a bet because every outcome is covered.
The key component of matched betting is the free bets from the bookmaker. You use a free bet to cover one outcome in the game, and cover the other using your own money, and make profit.
The Two Parts of a Matched Bet
There are two parts of a matched bet: back and lay. To make profit on back and lay betting, you need first to understand the two terms and how they work.
Back Bet
You need to predict that an event will happen; for instance, team A will win. You can place this bet using your free bet or bonus. However, remember to place a free bet at qualifying odds for your bet to be valid.
Lay Bet
It involves betting against a certain outcome that is likely to come true. To lay a team A to win the match means that you are backing them NOT to win. If you lay them, you will win your bet if they lose their game.
Matched Betting Example
Let’s take this example, England are the favourites to win the Euro 2024 and the back odds is 1.73. This means that if you back England with a stake of $10, your return will be $17.30 and the profit is $7.30 (if your bet wins).
However, if you lay England, you are betting on them not to win the Euro 2024. If any other team wins the trophy, your lay bet still wins.
Steps for Placing Matched Bet
To place a matched bet is very straightforward. Here are the steps:
- The first step is to look for a free bet offer. Normally, you can get it from a sign up bonus.
- Take the free bet with the bookie and place your bet. Remember to meet the bonus requirement
- Find and place the opposite bet on an exchange.
- Wait for the event to end and win money regardless of the outcome.
Matched Betting Tips
These tips will guide you on your way before you place your matched bet:
- Read the terms carefully: You need to check the terms for the free bets and bonuses. Each offer comes with its own terms that you need to be met.
- Double check everything: Make sure you check that you have found the correct bet and know exactly how much to stake.
- Use multiple sites: You can use two separate sites. Use one site to back and another site where you can lay, note that bookmakers may not accept matched betting if they see a pattern in your plays. Therefore, registering with multiple bookmakers can be a good idea.
- Track your profits: Track your profit is very important to make sure that you gain valuable insights into your overall performance.
Pros and Cons of Matched Betting
| Pros | Cons |
| It’s risk-free bet | Difficult to understand |
| Tax-free cash | Free bets and bonuses come with strict terms. |
| No experience required | |
| Provides a regular source of income |
Summary
Matched betting comes with many benefits. It offers a great opportunity for punters to make consistent profits from sports betting.
However, to make profit from matched betting, you need to master the basics, understand the process, and avoid mistakes. By doing so punters can make profit out of matched betting.
FAQ
What is the difference between back-to-lay and lay-to-back?
Back-to-Lay’ betting involves placing a bet on a selection at high odds, and lay the same event at a lower price on an exchange platform. But the basics of lay-to-back are the same as back-to-lay, only the opposite way around.
Can You Lose Money with Matched Betting?
The only way you can lose a matched bet is if they make a mistake in your calculations.
Is Matched Betting Legal?
Yes, matched betting is totally legal. This strategy allows bettors to take advantage of bookmakers’ free bets and promotions to guarantee profits.
