A Comprehensive Guide to the Betting Strategy Known as Matched Betting

Forming part of our betting guide series, we will go head on to the subject. Imagine if someone told you that you can bet on sports and always be guaranteed a profit. You would probably be suspicious, right? No need, thanks to this guide to match betting.

Match Betting can be found at these bookmakers

18+ New UK + IRE customers. Paypal and certain deposit types and bet types excluded. Min 5 bet within 14 days of account reg at min odds 1/2 = 4 x 5 free bets. Free bets valid for 7 days on sports, stake not returned, restrictions apply. www.begambleaware.org

18+ New customers using Promo code H30 only, Min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15, free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply. T&C apply. www.begambleaware.org

€50
Bet

18+ New Players only. Make a qualifying deposit of €5* or more and claim the offer within 30 days of registering your account to qualify. Must contain at least one selection at odds of 1/5 (1.20) or greater.. For free bet wagering requirements and minimum odds read T&C’s. www.begambleaware.org

What is Matched Betting?

matched-betting-guide

To put it as simply as possible, matched betting is a way to sports betting without taking any risks. We know that things that sound too good to be true often are, but in this case… it happens to be the truth. This technique is known as matched betting. But what exactly is matched betting? is it legal? how does it work? and is it worth it? How is this so? Well, it is because all the possible outcomes have been covered, meaning that you will get a positive return no matter what the final result is. Matched betting, just so you know, is also sometimes known as "no-risk betting" or "bonus hunting".

You might think that this is impossible as it would mean that the best-betting sites would be losing so much money and would ensure that this could not be done, but it is possible thanks to bonuses such as free bets and other promotions. The great thing about matched betting is that you do not even have to have a lot of specialist sports knowledge in order to be successful.

Okay, you will certainly have an advantage if you are familiar with different sports and have experience betting, but it is not too difficult to pick up the expertise and knowledge that you need as you go along.

How Does It Work?

As we already mentioned above, matched betting works by allowing you to cover all the possible outcomes of a sporting event that you want to bet on. Naturally, you cannot usually make use of matched betting using just betting sites. This is because the prices that bookies set for a particular sporting event have a betting margin or house edge that ensure that the bookmakers make a profit. This means that in order to do matched betting, you need to use a betting exchange. One of the best betting exchanges around is Ladbrokes exchange, which of course accepts players from Ireland.

Before we go ahead and give you an example of matched betting to help give you a better idea as to what it is, we thought it would be a good idea to briefly explain what a betting exchange is. So, what is it exactly? Well, a betting exchange is something that allows gamblers to bet against fellow punters rather than the bookie. At a betting exchange, you request odds from or offer odds to, fellow bettors. Traditional bookies go head-to-head with sports betting fans on markets, but a betting exchange has no risk at all for the operator. Bettors place a stake against each other, and the betting exchange takes a small commission from the winner.

The major difference with a betting exchange when compared to a bookmaker is that lay betting is possible. A lay bet is when you back a selection to lose instead of to win. Every stake that is made at a betting exchange involves two different bets - someone backing a selection to win and someone else backing the exact same selection to lose. It is the ability to place a lay bet that makes a betting exchange important for matched betting.

Betting exchanges have become popular because they offer punters a much greater choice. Before betting exchanges came into being, if a bookmaker was not willing to offer the odds or markets that you sought, you just had to miss out on your bet. However, with a betting exchange, you just have to find another gambler who wants to take the risk on - or lay your bet. In other words, a betting exchange gives you the ability to find markets and odds that you want. Another reason why they have become so popular is that there is often greater value on offer. Bookies, to make a profit, do not provide their players with true odds - they take a small fraction away from the odds to ensure they always make money. With a betting exchange, the market is not priced by just one person, but by thousands of bets, meaning there is a lot more pressure for layers to give fair prices so that their bets are matched.

So, now that you should have a good understanding of what a betting exchange is, we are finally going to provide you with an example of matched betting.

Matched Betting Example

We Irish football fans absolutely love the English Premier League, so we are going to use this in our example. Let us pretend that Liverpool is playing Manchester United. If you were to bet on Liverpool to win the match, you would be backing them. However, if you felt that Liverpool would not win, you could lay a Liverpool win. If Manchester United went on to win or draw the match, laying Liverpool would be a successful bet.

With matched betting, you would go to the betting site that you have an account with and back Liverpool to win. To cover the other possible outcomes, you would go on a betting exchange and lay Liverpool. If Liverpool does go on to win, you will win your back bet. If the game is a draw or a Manchester United win, your lay bet will win. Either way you will walk away with some money.

It is important to note that matched betting only works when you are using free bets and other promotions offered to you by the sportsbook you have an account with. Do not let this put you off though because bookies have to offer plenty of free bets and promos now in order to entice people to open an account with them. There is so much competition in the sportsbook industry nowadays that any betting site that does not offer regular freebies will not be around for very long and will definitely not make it onto any best bookmaker list. Remember to check the terms and conditions of a free bet or promotion before you start making use of it.

By using your free bet money to back a certain outcome and then laying that same outcome with your own money at a betting exchange, you can guarantee yourself a profit. Sometimes you will need to make a qualifying bet to unlock a free bet that your bookie offers, but this is a small investment for a bigger award. You should consider making use of a matched betting calculator as this will tell you how much cash you need to put on each wager to walk away with the highest guaranteed profit.

What is important to take away from this is that as long as you follow the rules, you should always make a guaranteed profit. Therefore, matched betting is a lot different from normal betting as with normal betting your chosen outcome has to happen in order to win the bet.

Is Matched Betting Legal in Ireland?

Many sports betting fans are unwilling to try matched betting because they think it is shady, but you do not have to worry as it is completely legal. Betting sites are obviously aware of the fact that matched betting happens, but there is not an awful lot they can do about. After all, if they provide their players with bonuses and other promotions, people will take advantage. Not only is it legal, but matched betting is regularly recommended as a great way for betting customers to earn tax-free money with minimum effort. News outlets like The Guardian have also written articles about matched betting, encouraging sports betting fans to give it a go.

Does Matched Betting Work for Irish Punters?

This is a question that many Irish sports fans like to ask, and the answer is that it definitely works for Irish punters. Matched betting is a gambling strategy that can be used by people all over the world at any time and in any place, so long as you have access to an internet connection, of course. It does not matter whether you are in Australia or Timbuktu, you can use matched betting to make profits.

Best Matched Betting Offers

You can do match betting at any bookmaker, but you obviously want to deposit your hard-earned money at one of the best ones. Below you can find some of the best bookies for sports betting fans in Ireland. If you decided to sign up with one of these, you will be guaranteeing yourself a great sports betting experience.

Top Bookmakers

18+ New UK + IRE customers. Paypal and certain deposit types and bet types excluded. Min 5 bet within 14 days of account reg at min odds 1/2 = 4 x 5 free bets. Free bets valid for 7 days on sports, stake not returned, restrictions apply. www.begambleaware.org

18+ New customers using Promo code H30 only, Min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15, free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply. T&C apply. www.begambleaware.org

€50
Bet

18+ New Players only. Make a qualifying deposit of €5* or more and claim the offer within 30 days of registering your account to qualify. Must contain at least one selection at odds of 1/5 (1.20) or greater.. For free bet wagering requirements and minimum odds read T&C’s. www.begambleaware.org

Is Matched Betting No Risk?

This is another question that people like to ask, and we understand why since it can be hard to believe that there is a betting strategy out there that can win you money without there being risk involved. Well, there is, because if you follow the matched betting rules properly, there is no chance that you will end up losing money as this is a mathematical fact.

However, bookies obviously do not like matched betting as it loses them money, therefore there is a small risk involved that if the bookie you have an account with finds out that you have been making a lot of money by doing this, they will ban you from your account. However, the chances of this happening are very rare and by the time they find out you have been doing it, you could have made a lot of profit. Anyway, if you do get banned from one bookie, there are many others out there that you can deposit money at and become one of their new customers.

Is Matched Betting Worth It?

It is quite difficult to put an exact number on the amount of money that you can make by matched betting. Therefore, the answer to the above question is that it is definitely worth it. We recommend that you make use of a spreadsheet so that you can keep of your matched betting. You should also set yourself a monthly target so that you have something tangible you can work towards.

Tips for Matched Betting

Making use of a matched betting calculator is a great idea as it makes the whole process a lot easier. This type of calculator tells you how much profit you can make if you go ahead and bet with a certain amount. As we mentioned earlier, matched betting is not illegal, but bookmakers have been known to shut accounts of those they believe are using this strategy. Therefore, to decrease the chances of this happening, you need to keep your accounts active and do your best to make it look like a normal customer is using them. One way you can do this is by placing some small normal bets every now and then.

Pros and Cons of Matched Betting

To round up this article, we are going to take a look at the pros and cons of matched betting.

Pros

One of the major pros of matched betting is that you do not need to be a sports guru to make money from it. Another pro is that it is not gambling. You are not gambling your money because there is no chance of you losing it if you use this strategy correctly. There is also a welcoming and friendly matched betting community and those who are new to this strategy will find experts who are more than willing to share some great tips.

Cons

One of the main cons of matched betting is that if you have accounts with lots of betting sites, then you might start to find it difficult to make money due to the fact that new bookmaker accounts are vital for matched betting. Furthermore, you should not withdraw your profits right away. Also, the need to have a decent bankroll to begin with is something that rules those out who do not have much money to spare.

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