A method known as “matched betting” uses free bet offers from betting providers to statistically make money. The majority of bookmakers promote these deals to draw in new bettors. “Bet £25 with us and we’ll give you a £25 free bet!” is one example. This guide contains everything you need to know about matched betting:
Read more: Orbit Exchange
How are matched bets conducted?
First off, if you follow the instructions below, you won’t need to be familiar with every betting jargon. However, it’s crucial to understand the two kinds of bets that make matched betting possible:
A ‘back’ wager
It is wagering on the realization of a specific result. A backing bet might be, “I bet England will win.” You win both the wager and the earnings if it comes to pass. You forfeit your stake should England lose or draw. Any bookmaker, including Paddy Power, William Hill, Betfred, and others, allows you to place a back bet.
A “lay” wager
It is wagering against the realization of a particular result. A lay bet would be, for example, “I bet England will not win”. You win the wager if they fall short or draw. A lay bet can only be made via a betting exchange like Smarkets.
By placing a wager against oneself at the same odds (also known as “laying” a bet) at a betting exchange, you can eliminate the risk associated with the “back” bet at online bookmakers through the use of matched betting. To put it another way, you are “matching” your wager.
After the bookmaker processes your first or “qualifying” real money wager, you will receive the free bet. Profit is made in this area.
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How much money can I earn?
You can usually count on earning between 50 and 80 percent of the amount of the free bet in profit for each matched bet. This is because commissions on winnings are typically assessed by betting exchanges. Because of the tiny variations in odds across all websites, you can potentially experience a slight loss on the qualifying wager. This is typical, and using the free bet will allow you to recover this.
I’ll use a real-world example to demonstrate how to earn from a £30 free bet in the steps that follow. If you follow the same procedures for the many hundred free bet offers available every year, you could soon be looking at £100s (depending on how much time and effort you put in).
Currently, gambling sector earnings are tax-free. Even while matched betting can be a profitable endeavor, most people won’t be able to support themselves solely via it.
What’s at stake?
As long as you cover yourself by betting on and against the same event, matched betting is theoretically risk-free and accessible to anyone.
But when errors are committed, there is a risk. Thus, you must carefully review everything and adhere to the instructions. Rarely, free bets don’t always appear straight away, so exercise patience and make sure you always follow the rules of the promotion.
After comprehending the procedure and effectively completing the procedures listed below, you may proceed with matched betting at additional online bookmakers who provide free bet offers (see my table at the conclusion), potentially generating additional revenue. It’s also important to understand that making deposits at online casinos has no impact on your credit score.
Read more: Betting with your own odds in Orbit Exchange
FAQs about Matched Betting
1)Is it acceptable to bet matches?
In the UK, matched betting is entirely permitted. It exploits a gap between bookmakers and betting exchanges, but neither of them loses money because the outcome of your matched bet is unaffected by your failure to lay or back elsewhere.
2) Where can I locate further free bets?
Bookies also provide “reload offers,” which are free bets and bonuses for returning consumers. These are intended to entice clients to visit them again.
Additionally, more sporadic sign-up deals are available. Every day, I look for these, but I don’t upload them to this website to avoid making it even longer!
3) How will my credit score be impacted by matched betting?
No, it won’t because bookies often don’t run credit checks. My credit report has never contained any information. Even if credit checks aren’t always performed by bookies, they don’t get recorded and don’t affect your score in any way.