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Matched Betting: How to capitalize on it

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So, you’ve read matched betting Reddit threads and you want to know all about it? You’re in the right place! Also known as double betting, matched betting is a technique primarily made to take advantage of free bets and similar offers with accounts at multiple bookies. It’s based on equations rather than chance and for it, many consider it a risk-free way to exploit possibilities offered by the firms worldwide.

However, many ask if it’s wise to back betting favourites and is matched betting legal, eager to capitalize on it themselves. Yes, it is! Taking such advantage of free bets is legal and what’s more, we’ve had a representative of William Hill even say bookies have no problem with bettors making such claims.

So, let’s have matched betting explained! To make such a system work, you have to place a bet with one bookie using the free offer – which is also known as back bet betting – and place another opposing bet with another bookie – which is also known as lay betting. This usually involves finding best offers out there and making the most out of them with a number of tools.

  • Make risk-free bets by backing all outcomes
  • You need accounts with multiple bookies
  • Free bet offers have terms you need to read through
  • Matched betting is legal and not frowned up by the bookies
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You want to make money with it? Let’s tackle double betting step-by-step.

Matched Betting Guide: Six Easy Steps

We will now explain matched betting in a step-by-step guide, which will help you understand the concept and make proper match bets in the future.

Make the accounts

To make the best use of the technique, you need to stick with the best offers. You can check out what’s in store with Bookmaker UK and make the most out of it. You want to be with prominent and reliable firms when setting up accounts, where your money as well as your personal data will be safe and sound.

You’ll need accounts with a series of matched betting sites to maximize your profits, who have exclusive free bet offers, and betting exchanges  where you do your lay betting to cancel out the risk you’re taking when placing a qualifying bet.

matched betting

This strategy will help you protect your bankroll and limit your risk

Make sure to go through the bookie reviews as well as the terms and conditions of releasing any bonus before setting up accounts, as this could prove crucial for your decision-making as well as the end results. It’s important to know basic info on the firms you’re with just as it’s important to know the ins and outs of the technique.

Odds format 

You probably already know there are different odds format. While the Fractional odds are the most popular means of understanding the profits and stakes in the United Kingdom – other formats could come off more favourable when understanding matched betting.

You thus want to change the format to decimal before going on and placing the bets. If you haven’t used these before, it could seem like a task to understand what’s going on but once you’ve got a hang of it – it’s all plain and simple.

Decimal odds are simply multiplied by your stake to give total potential winnings, including your stake. This means that if you place £10 at odds of 1.50 – which would be 1/2 when converted to fractional odds – your total winnings would be £15.

This will allow easier comparison with an exchange and can be easily done by selecting the odds format in the top right or the bottom part of the bookie’s website, depending on who you’re sticking with. Essentially, differences between bets are easier to comprehend in decimal numbers.

Find your bets

Bets you pick for matched betting can make all the difference too. Ideally, once you’ve set up your accounts with bookies you’ll place the bets with you want to devote some time to browsing the offers and finding the picks that will best suit your needs.

Most bettors and experts advise taking up a sports event you’re interested and knowledgeable with, where most prefer football. You might need to switch to the Exchange on sites you lay your bets with, so make sure you see them in red boxes before placing the bet.

You want picks that have as close odds on the two different sites as possible. For example, if you’re going for the return match of UEFA Champions League clash between Roma and Liverpool – you could see Roma’s win at 2.54 and a lay bet at 2.58, so it’s important to compare them to the exchange and bear in mind the commission taken. The difference will be a small loss you can calculate with a matched betting calculator.

It’s important to know the terms and conditions of a qualifying bet, as it could differ with various bookies, with remarks most of the firms require 1.5 or greater odds. You can find this information easily with the bookie, reviews on the site, or by contacting the customer support.

Back bet betting

You can base your bets on the stats and information but it never hurts to add some extra protection

Claim your free bet

You then go on to claim your free bet and see where the profits ended up, depending on the outcome of the match. If you backed Liverpool at Betfair and Roma with BetVictor, the away win would obviously mean your stake at BetVictor would be lost – but you’ll get the profits at Betfair.

However, as you matched your bets, you have also released the free bet of £20 which takes you close to what you primarily invested regardless of the outcome of the match.  In case you get separate free bets UK , you can simply place them on the same event as one later on, which ultimately has the same outcome.

Repeat the process

This is why many suggest having and regularly updating your own matched betting spreadsheet. You now repeat the process of finding the best bets, just as in the Step 3, and getting behind them but only with the free bet at your disposal this time around.

Many bettors suggest this is where you step up your game and try finding the odds of 3.0 or higher to maximize your profits. However, you’ll have to have enough cash on your exchange balance to cover such ventures, so that’s an important thing to bear in mind as well.

Once you’ve matched bets and the event is over, you’ll see your profits increase (again regardless of the actual outcome of the matches you’re betting on) and you’ve gotten to enjoy the beauty of matched betting.

Withdrawing the money 

It’s now time to withdraw money and switch sites. A quick and rather simple process to exploit the offer set forth by the firms now has you ready to pocket the money and leave. More advanced users tend to go with multiple betting sites next, instead of an exchange, in order to avoid the commission taken on every bet made but you can stick with your winning theory for now.

What’s very important is that you read through the depositing and withdrawing options and methods, making sure your preferred ones are listed with every bookie you set up an account with before you do so. The options need to be secure as there’s really no point in making money if you will not be able to withdraw it when you want or even at all.

Matched betting

Matched betting is one of the easiest yet most effective risk-limiting strategies

Talking Points

Now that we have matched betting explained, let’s get on some of the things you need to be wary of. What are the actual risks? How to avoid them? How to go about your first matched bet? Let’s answer some of the key questions before making the initial deposits.

Bookies you register accounts with 

It’s very important you stick with reliable companies which offer secure betting experience. You want to check out the bookie before setting up an account – from the licenses, depositing and withdrawing methods to website design, customer support and ultimately offer of events and markets to bet on.

You want top quality service aside from the bonus offers you’re registering for but you also need to check out the terms and conditions of use. Make sure you know your bookie before taking it up.

Bonuses

You want to know all about the sign up bonus offers you have the intention to use. Who can take it, what’s in the offer, how to get it, and when can you withdraw money are some of the crucial questions you need to know answers to. If you have any issues, browse the FAQ or contact the customer support to know if you’re good to go for it.

Other bettors’ experience

Make sure to make the best use of the guides and personal experiences of others, whether it means strolling through a matched betting forum or talking with experienced bettors. You can learn a lot before even placing the first bet and that’s surely something to dwell on.

You want to be extra careful when just starting out as simple mistakes are often the biggest risk there is. Although this can be rather time-consuming at first, it is worth your while to learn the essentials before claiming your first bets. Also, always use the tools at your disposal to ensure smooth sailing!

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