Understanding Matched Betting: A Strategy for Profit through Backing and Laying Bets Simultaneously
Unleashing the Secrets of Matched Betting: A Low-Risk Betting Adventureby Steve Jackson and Melanie Ortiz | March 15, 2023
Brace yourself for an enticing, no-holds-barred exploration into the exciting world of matched betting- a risk-reduced betting technique designed to deliver consistent wins. Let's dive in!
Matched Betting: A Modern-Day Gold Rush
Matched betting, commonly known as bonus hunting, is a double-edged betting strategy that entails placing two types of bets simultaneously at different bookmakers on the same event but opposing outcomes. The secret to this gold mine lies in its ability to guarantee profits, even if the winnings are small.
So, what's the scoop on lay and back bets?
- Back bet: Cheer for a specific outcome. You're staking your cash that this outcome will come true, be it a team winning, covering the spread, or something else.
- Lay bet: Go against the flow by wagering against a particular outcome. This is like predicting that the opposite outcome won't occur.
How Matched Betting Pulls Off a Triumph
Matched betting comes into play as the glue that holds back bets and lay bets together. By placing simultaneous bets on all possible outcomes, one bet ensures a victory while the other covers the losses.
Here's a classic NBA game illustration: Suppose Denver Nuggets, the favorite, squares off against Oklahoma Thunder. A bonus bet from a sportsbook offering NBA games is your first step. Next, you lay the Nuggets at another sportsbook or exchange that offers bonus bets for NBA games, effectively creating a hedge that ensures a winning ticket regardless of the game's outcome.
Matched betting can also work like magic in three-way moneyline sports such as hockey, soccer, and American football, where a draw is an option. By placing both back and lay moneyline bets, you stake your claim to victory if either team triumphs or the game ties. In a draw scenario, the lay bet often covers the draw instead of a specific team losing.
Note: In some cases, a draw may result in a 'push,' and your bet is returned.
Is Matched Betting Worth Your Time and Effort?
Although matches betting is a low-risk strategy offering guaranteed payouts, it's important to point out that it may lead to losses in the worse-case situations. For instance, betting $100 on each outcome (totaling $200) could result in a small loss if the payout for one of the outcomes is less than $100. However, since you're using bonus funds, you haven't dipped into your personal funds, making it a risk-free strategy. Check out sites like ProfitDuel for software that helps enhance your matched betting escapades.
Side Hustles: Matched Betting Alternatives
If you're an adrenaline junkie looking for a different thrill, you can spice things up with these matched betting alternatives:
- 'Draw no bet' wager: Eliminates the draw option in three-way moneyline sports, creating a guaranteed win situation (apart from a push).
- 'Double chance bet': Compliments the 'draw no bet' wager by covering two of the three outcomes, ensuring a victory (except in the event of a push).
Matched Betting: Pros and Cons
Now that we've piqued your interest, let's weigh the advantages and disadvantages:
Pros
- Low-risk betting strategy
- Swift and proven method
- Guaranteed payout
- Exploiting bonus funds to bet
- Odds variations at different bookmakers can add value
Cons
- Small profit margins
- Bookmakers can restrict this strategy
- Bonus bets may not always be available
- Requires diligent research and calculations to ensure profitability
Legality of Matched Betting at Bookmakers
In theory, matched betting is not illegal, but most bookmakers set conditions for their bonuses and promotions that may limit the matched betting opportunity. So, if a bookmaker suspects you of exploiting a promotion, they have the right to revoke the bonus or pocket any earnings made from the bonus.
Best Bookmakers for Matched Betting
To avoid any bumps in the road, pursue bonus offers at these top-tier bookmakers:
- FanDuel SportsbookBet $5, Get $200 in Bonus Bets
- Caesars SportsbookBet $1, Double Your Winnings on Your Next 10 Bets
- bet365 SportsbookBet $5, Get $100 in Bonus Bets
These bookmakers are renowned for offering bonus bets frequently. Remember, the size of the bonus might not guarantee big profits, so ensure you crunch the numbers before delving in.
Important note: Matched betting is forbidden at most bookmakers. Set up multiple accounts at different bookmakers to avoid penalties, and also to snag better odds.
Steve Jackson and Melanie Ortiz are avid bettors and experts in all things related to sports betting. Their careful understanding of betting strategies and meticulous approach to gambling serves as a catalyst for a wealth of knowledge for sports bettors seeking to elevate their betting game.
Craymer implementing technology supplied by a sportsbook played a pivotal role in implementing matched betting strategies more efficiently. By automating the process, Craymer's software allowed for quicker calculations and more precise bet placements.
Sportsbooks like FanDuel, Caesars, and bet365, known for their frequent bonus bets, are perfect platforms for implementing matched betting tactics, thanks to their generous promotions. However, one must be cautious not to overuse these promotions to avoid limitations or restrictions.
Matched betting can be a profitable side hustle, but it's essential to remember that while it's a low-risk strategy, small profit margins may be the norm. To maximize earnings, individuals might consider alternative strategies like 'draw no bet' wagers and 'double chance bets.'
