Matched betting

In this article, we will examine in detail what matched betting is, how it works, its advantages and disadvantages, and provide practical advice for successfully using this strategy.

What is Matched Betting?

Matched betting is a method that allows you to profit from bonuses and promotional offers provided by bookmakers.

The main idea of matched betting is to place two bets: one with a bookmaker using their bonus or an equivalent bet, and the opposing bet with another bookmaker. This way, the bettor secures a profit regardless of the event's outcome, creating a form of arbitrage.

How Does Matched Betting Work?

To better understand how matched betting works, let's go through the process step-by-step.

1. Registration and Receiving a Bonus

The first step in matched betting is registering with a bookmaker to receive a bonus or free bet. Such bonuses are typically offered to new users for registering, making a first deposit, or placing an initial bet. For example, a bookmaker might offer a 100% bonus on the first deposit up to €100.

2. Placing the Initial Bet

After receiving the bonus, the bettor places the initial bet on the chosen outcome. This is called a "back" bet, where the bettor bets "on" a specific result. For instance, the bettor might bet €50 on Team A to win a football match. It's important to note that this bet is placed with real money, not the bonus funds.

3. Placing the Opposing Bet

Simultaneously, the bettor places an opposing bet with another bookmaker. How do they choose it? The selected market should be the opposite of the main position. For example, if the main bet is on Team A winning, the opposing bet would be on Team A not winning (i.e., either losing or drawing).

4. Securing a Guaranteed Profit

Now, regardless of the match outcome, the bettor is in a winning position. If Team A wins, they win the bet with the first bookmaker, which offered the bonus, and lose the bet with the other bookmaker. If Team A does not win, they lose the bet with the first bookmaker but win the one with the second. Since the two bets cancel each other out, the bettor effectively gains the bonus or free bet, turning it into an easy profit.

5. Ongoing Use of Free Bets

Once the bonus terms are met (for example, by placing an initial real-money bet), the bookmaker activates the free bet. This free bet can then be used as follows: place a bet on one outcome with the bookmaker offering the bonus and an opposing bet with another bookmaker. Since the bettor is not using their own money for the main bet, the profit from this deal is almost pure, minus a small commission from the bookmakers.

Example of Matched Betting

Let’s go through the steps of how the matched betting strategy works.

Step 1: Registration and Bonuses

Suppose a bookmaker offers a club bonus of €100 on the first deposit. The bettor registers and makes a €100 deposit, receiving an additional €100 in bonus funds.

Step 2: Initial Bet

The bettor decides to place a bet on Team A to win a football match at odds of 2.0. They place a real €50 on Team A’s victory.

Step 3: Opposing Bet

With a second bookmaker, we choose a bet that Team A will not win, which is the X2 market. If Team A’s winning odds are 2.0, the odds for a draw or a loss will be 1.85. The bettor places an opposing €50 bet (to ensure an equal stake amount).

Step 4: Outcome Scenarios

• If Team A wins: The bettor receives €100 (bet of €50 x odds of 2.0) from the first bookmaker but loses the €50 staked with the second bookmaker.
• If Team A doesn’t win: The bettor loses the €50 bet with the first bookmaker but wins €92.5 with the second bookmaker.

Thus, regardless of the match result, the bettor wins one of the bets, while the €100 bonus remains untouched.

Step 5: Using Free Bets

Now that the bettor has met the bonus conditions, they can use the free bet of €100.

Initial Data:

• Odds on the outcome with the first bookmaker (free bet): 1.98
• Odds on the opposite outcome with the second bookmaker: 1.8
• Free bet amount: €100

How to Calculate the Opposing Bet:

Formula for calculating the second bet:

Bet 2 = Bet 1 Amount × Bet 2 Odds / Bet 1 Odds

Substitute values:

Bet 2 = 100 × 1.98 / 1.8 = €110

Step 6: Evaluating the Results

Now let’s see the outcome with different match results:

1. If Bet 1 Wins (odds of 1.98):

   • Win from Bet 1: €100 x 1.98 = €198
   • Loss from Bet 2: €110 staked

2. If Bet 2 Wins (odds of 1.8):

   • Loss from Bet 1: €100 (free bet, so no real loss)
   • Win from Bet 2: €110 x 1.8 = €198

Advantages of Matched Betting

1. Guaranteed Profit: Unlike regular betting, matched betting yields a profit regardless of the outcome. This is especially important for beginner bettors who are just learning about global betting and want to avoid risking their funds.

2. Minimal Risk: Matched betting involves minimal risk, as it is based on using bonuses and betting promotions. Even if something goes wrong, the consequences are limited.

3. Accessibility: Many bookmakers offer bonuses and promotional deals, making matched betting accessible to a wide range of bettors.

Disadvantages of Matched Betting

1. Time-Consuming: To achieve consistent profit, it is necessary to register with multiple bookmakers, monitor numerous promotions, and regularly place bets. This requires time and attention.

2. Limited Opportunities: The number of available bonuses and free bets is finite, so the use of this strategy may only be temporary.

3. Possibility of Account Suspension: If a bookmaker notices that a bettor is frequently engaging in matched betting, they may review or even suspend the account.

Practical Tips for Using Matched Betting

To make the most of matched betting, follow these recommendations:

1. Use Multiple Bookmakers: Register with different bookmakers to gain access to a greater variety of bonuses and free bets.

2. Monitor Promotions: Regularly check bookmaker offers and subscribe to their newsletters to stay informed about valuable promotions.

3. Keep Track of Bets: Record all your bets, results, and earnings. This will help you analyze your performance and correct any mistakes.

4. Be Cautious with Bonuses: Carefully read the terms and conditions for receiving and using bonuses. Bookmakers may impose restrictions that make it more challenging to earn a profit.

Conclusion on Matched Betting

Matched betting is an effective and relatively safe strategy for those looking to profit from promotions with predictable risks. However, it may not be suitable for beginner bettors, as it requires a strong understanding of bookmaker rules, bonus terms, and wagering requirements.