As a huge sports fan, you can easily use your knowledge to extract profits from bookmakers' incentives. The technique is called matched betting, and it uses the application of strategies based on math to cover each possible outcome of a wager. This process may sound easy but matched betting requires constant practice, calculations, and experience. Also, you can be gubbed by fraudulent bookmakers or betting exchanges, especially if you are a beginner. Luckily, our experts have everything you need to soar high in your journey. This post explains how matched betting works and offers tips to ensure your success.
How Does Matched Betting Work?
Matched betting is simple! You register and place a bet at a bookmaker using a free bet offer, and then you make an opposite stake at a betting exchange. People who partake in this activity incur lesser risk than regular sports bettors. The difference between these two forms of betting is that there is a counterbalance wager (lay bet) in matched betting. The entire process involves two types of bets; the lay bet and the back bet. The back bet is the free bet you place at a regular bookmaker. They are straight bets on an outcome occurring. Lay bets are the opposite of back bets, and you can only place such bets at a betting exchange. They are bets against an outcome occurring. Visit TheTrader.bet to know more.
How to Start Matched Betting? Step-by-Step Approach
If you are a beginner, you don't have to stress yourself going through several youtube videos or hours of research, as starting at matched betting is easy.
Step 1: Open an Account with a Bookmaker
The first step would be to get an account at an online bookmaker that offers juicy welcome offers and other cash-back bonuses for new and existing customers. For instance, bookmakers such as Betway offer £30 for new customers. Another bookmaker you may want to check out is Coral. They give £20 to new customers and offer cash back and bonanza promotions, which may be helpful as you progress further in your betting.
Step 2: Create an Account with an Exchange
The next step is to select a betting exchange and open an account with them. Select websites with the best welcome offers and the lowest commission. Also, ensure you use reliable ones such as Betfair, Smarkets, Ladbrokes, Matchbook, and Betdaq.
Step 3: Select a Sports
After creating both sports, select the sports you want to wager on. It could be football, horse racing, cricket, or rugby. You'll also need to read the terms and conditions and meet all the requirements. Some bookmakers may require you to place a qualifying bet that will release your funds for the offer. After researching, you can select from several sporting events offered by both the bookmaker and the betting exchange. Finally, ensure that the odds in the bookmaker and betting exchange have a small disparity for the selected event.
Step 4: Place a Bet
Finally, you can start with placing your qualifying bets. You may lose around 5% of your total equity. For instance, if you place a stake of £50, you may lose around £2.5 to the commission. But the qualifying bet is not the reward you should aim to get, as you still have free bets from your bookmaker, which you can still use to earn money by wagering on other sports events.
Step 5: Start Over Again
Once you've wagered the qualifying bets, you can repeat the process till you wager all your free bets. When you wager, you should calculate the guaranteed profit from each bet. Also, ensure that liability at your betting exchange can cover the losses you may make for each wager.
How to Succeed in Matched Betting
As you begin your matched betting journey, you should know certain tricks and tips to help you succeed. A vital recommendation is to stay disciplined and avoid wasteful spending of your profits. You can be disciplined by setting up a separate matched betting bank account. A different bank account will help you avoid wasteful spending and stay calmed and focused, which is essential to avoid unnecessary errors.
Another vital piece of advice is to get expert support. The only way to avoid errors in matched betting is either learning from your mistakes or the experiences of others. The latter is often the least costly, as you can understand matched betting without losing your account.
Matched betting is so profitable that it may sound too good to be true! But as experts in this field, we can tell you that this is among the safest means to make money online. And it is the same for everyone, just stick to a strategy, and you will be making money in no time. You can read other articles on our blog to find the best techniques.