Matched betting has become an increasingly popular option for people to make a reliable secondary income. However, when newcomers hear the word “betting” associated with this method, they often assume the potential risk involved. However, that’s not the case at all. Once you know how matched betting works, you can easily navigate through the free offers and hedge your bets to guarantee wins. We’ll discuss everything you need to know, such as how matched betting works and answer the question, “is matched betting safe?”
Table of Contents
What is Matched Betting
Matched betting is a method enabling players to make a profit by maximizing free bets and other offers promoted by online bookmakers. In any normal circumstance, you’ll need to rely on chance to win bets. But with matched betting, you are essentially hedging your bets by placing bets on all potential outcomes. So if you are betting on a Tennis game, you will place one bet that Player A will win, and another bet that Player B will win. This means you’ll neither win nor lose money. But either way, you’ll profit on the bonuses that the bookmaker sites provide when winning the bet. By using matched betting sites, they have formulas and calculators that tell you how much you need to bet to lock in a guaranteed profit. There are thousands of free bets and ongoing incentives opportunities for players to partake in, making this a lucrative opportunity.
How Does It Work
Matched bettings work by having a back bet and a lay bet. A back bet is a bet that you are staking your outcome on. If you are betting a particular horse to win, you are backing that horse. A lay bet is one where you predict an outcome will not happen. So in this scenario, you are betting that a particular horse will not win. Usually, you might profit about 80% of the free bet amount, depending on the offer. Although it’s possible to do matched betting yourself, it can be extremely time consuming and complex. Matched betting sites help to organize all of your bets, and show you the most favorable ones. They also include profit calculators that display how much you need to bet to make a profit.
Placing Your First Matched Bet
To get started, you need first to find an offer where you meet their eligibility requirements. Without a matched betting site, you’ll need to find free offers on bookmaker sites. With a matched betting site, you’ll receive a full list of betting welcome offers.
Then select your back bet and lay bet to hedge your bets. To lessen any initial losses, the odds should be close together and low. Once you’ve found the odd and know the outcome, you’ll be placing bets on. You can register for an account on a bookmaker’s site. Next, you’ll have to sign up for a corresponding betting exchange where you can make a lay bet. Make sure you bet the correct amount as stake. A matched betting calculator will help you determine that amount.
Once you’ve earned your bonuses, you can use the free credit earned to place your second bet on the website. In this scenario, the betting odds should be close together and high.
Is Matched Betting Legal or Ethical
Matched betting is completely legal and ethical. For the UK, you must be at least 18 years of age or older. This method is simply playing within the rules that are laid out by bookmakers. Although it may sound too good to be true, this method works very predictably. You should note that bookmakers do not enjoy people who match betting because they view this as a practice called bonus abuse. However, the worst thing that can happen is that they add restrictions on your account.
As for ethics, this simply comes down to personal preference. If you’re playing within the realm of the rules, there should be no reason as to why you can’t take advantage of the free bonuses. For bookmakers, it isn’t ideal for them because it doesn’t put the odds in their favor.
Is Matched Betting Gambling
The word “betting” automatically is associated with gambling. However, in this case, matched betting isn’t gambling. By definition, gambling means taking a chance on something. Since you are hedging your bets to ensure you don’t lose, there isn’t any risk. There’s no way you’ll lose. The only variable is how much you’ll win.
Is Matched Betting Safe
Theoretically, matched betting is completely safe, since you are mathematically guaranteed to earn profits. However, the Advertising Standards Authority has claimed it isn’t fully guaranteed due to potential human error and shut down of bookmaker accounts. This means you can make human errors such as placing the wrong corresponding back bets and lay bets.
Potential Risks
Human Error
Although the idea sounds incredibly simple, the process can be complicated. Thus it’s important to use match betting sites to lessen the chances of error. It does require some basic math skills and attention to detail. If you place high stakes bet and choose the wrong lay bet, it can be extremely costly. Make sure to track all of your back and lay bets carefully through automation matched betting site or through a spreadsheet.
Gubbing Accounts
As mentioned above, bookmakers may limit your account if they notice you are match betting. Potential limitations might be eliminating free offers or limiting the stakes you’re able to place. To prevent this from happening, it’s crucial to understand how they will know you are matched betting in the first place. This is done through algorithms that the bookmakers put in place. You may do so by giving the impression that you’re just an average punter. To disguise yourself, try to place normal bets outside of the promotional ones with very little stakes so that you won’t win or lose very much. This helps to trick the algorithm and think that you are a normal punter. Try to avoid only performing high-value bets that are much better than lay odds. Placing only high-value bets can be a red flag for bookmakers.
How Much Can You Earn
You’d be surprised that tens of thousands of people have already made money by utilizing match betting. Just by taking advantage of initial welcome offers, you earn between £1,000 to £1,5000. This usually happens because there is more opportunity due to the generosity of bookmakers. There are forums out there, where experienced match betters earn over £900 or more per month. By only taking advantage of current offers through these existing bookmakers, you can make £500 to £700 per month. You can expect to spend roughly 40 minutes a day and earn about £25 to £35 per hour. Overall, it’s a sizable side income that anyone can get into. Not to mention all of the money is 100% tax-free. Just keep in mind that the amount of money you are depends on the following factors:
- How much you’re willing to stake
- How much you can spend
- The lay odds
- The back odds and deals available
- The resources and tools available to you
- Your skills and knowledge regarding matched betting
Things You Need to Get Started
There are a few things you’ll need to ensure a smooth start to starting your matched betting career. All you need is a desktop or laptop, online bank account, email address, and some available funds to start.
Ideally, you want a desktop over a mobile device, because you can easily switch between sites and place a bet at the right times. When it comes to sporting events where odds change, you’ll need to hover over sites to gauge the best odds. You also want to use an email address that is solely dedicated to matching betting, so all of your emails related to match betting are easy to find. You won’t have to worry about sifting through personal emails.
Is Matched Betting Safe - Final Thoughts
With any form of betting, matched betting is by far the safest route. It ensures you minimize your losses while maintaining profit without any illegal activity. The best way to ensure your bookmakers account stays in good standing is to learn tutorials and guides on how to do matched betting effectively. Also, register for various matched betting sites like Oddsmonkey and Profit Accumulator that give you daily offers and compile the best deals online for you. These sites help to automate and track your bets to reduce the chances of human error, thus making matched betting safer. We hope that’s given a few of you some clarity on the frequently asked question “is matched betting safe” feel free to comment below if you have any other queries.
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