Matched betting is a betting technique that allows you to make money from free bets and other promotional offers offered by bookmakers. It can be a risk-free way to make money, as long as you follow the correct steps.
To do matched betting, you need to place two bets on the same event: a back bet and a lay bet. The back bet is a bet that the event will happen, and the lay bet is a bet that the event will not happen. The odds of the two bets must be the same or very close to each other, so that you are guaranteed to break even or incur a small loss regardless of the outcome of the event. By placing this bet under the terms and conditions of the free bet offer you will then qualify for the free bet.
The profit comes from the free bet. Using the same technique as the qualifying bet, you use the free bet value to place a back bet with the bookmaker and then lay the same selection for the same price or as close to the same price on BETDAQ to ensure the bet is profitable regardless of the outcome. It is recommended to find a bet with long odds to maximise the profitability of the free bet (as long as you have enough funds in your BETDAQ account to cover the layers liability).
For example, let's say you want to make money from a free bet of £20 offered by a bookmaker. You would place your free back bet of £20 on the event happening and a corresponding lay bet on the event not happening.
Pick a selection that offers long odds – e.g. a horse at a price of 21.0.
Example 1., the odds on the selection are 21.0 on both the bookmaker and the exchange, by placing a back bet and lay bet for the same amount, you could win £20 if the selection loses.
Example 1. (equal matched stake and price with your bookmaker and BETDAQ)
Bet | Horse Wins | Horse Loses |
With a Bookmaker | +£400 | £0.00 |
With BETDAQ | -£400 | +£20.00 |
Profit | £0.00 | +£20.00 |
Example 2., by modifying the stake on the lay bet, you could win on any outcome, that is if the selection wins or loses.
Example 2. (reduce your BETDAQ stake to lock in a profit win or lose)
Bet | Horse Wins | Horse Loses |
With a Bookmaker | +£400 | £0.00 |
With BETDAQ | -£381 | +£19.05 |
Profit | +£19.00 | +£19.05 |
So regardless of the horse winning or losing by laying the same selection at the correct stake, you could ensure a profit no matter how the selection performs. In order to help you calculate the lay stake you can use a matched betting calculator. Matched betting can be a profitable way to make money, but it is important to do your research and understand the risks involved. There are a number of websites and forums that can help you get started with matched betting.
Remember, betting carries a risk, make sure you understand the risk before risking your money.
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