Matched betting is a technique that helps you profit from free bets and other incentives off of the bookmakers. It is low-risk and offers consistent tax-free returns. This approach has garnered interest in recent years from many people. In this article, you will learn a little about what matched betting is, how it works and why/how we can use it to make money.

Understand matched betting 

Matched betting, fundamentally means using two bets to ensure that regardless of what happens, you end up making a profit. So, where exactly do these free bets come from, I hear you ask? These are the first free bets the bookmakers provide to new customers as a welcome gift — or a way to give existing customers a chance to place more bets.

There are two types of bets in matched betting:

  • Back Bet: A bet made on a certain outcome to occur, e.g., Team A to win the game. Simply put, if Team A wins, you win the bet; if not, the bookmaker keeps your stake.
  • Lay Bet: In this one, you are betting against a certain outcome. For instance, you place a wager that Team A will not win. You win the lay bet if Team A loses or draws.

Matched betting essentially involves these two different betting styles. The beauty of the matched betting process is that they cancel each other out, allowing you to cash in on the free bets without funding your betting account. 

How Matched Betting Works

Here are a few easy steps to explain the process:

  • Find a free bet promotion: Bookmakers constantly offer free bets to entice new or existing customers. Keep an eye for Lottoland matched bet bonus page, where they regularly share great offers.
  • Make a qualifying bet: Normally, in order to receive the free bet, you must first make a qualifying bet yourself. In this scenario, you place a back bet with the bookie and a matching lay bet at a betting exchange. 
  • Take advantage of the free bet: When your qualifying bet is settled, the bookmaker will reward you with a free bet.
  • Repeat the Whole Thing: Using your free bet, you do the same thing—place a back bet with the free and a lay bet to cover the same amount. One of your bets is using the free offer, so you can be sure that you will be able to make a profit regardless of the result.
  • Claim Your Profit: Once the bets have been settled, you will have a profit from the free bet, minus any small qualifying losses.

Starting with Matched Betting

Here are the requirements to start matched betting:

  • An account with a bookmaker that provides a free bet.
  • An account at a betting exchange to lay a bet.
  • A small starting bankroll to cover the first bets
  • Tools like matched betting calculators and odds-matching tools guide you to the bets you find the right bets and calculate the stakes needed.

Risks and Considerations

Matched betting is often hailed as "risk-free," but it does come with a couple of caveats:

  • Human error: You can lose money due to mistakes in placing bets.
  • Restricted accounts: Bookmakers love to limit or close the accounts of anyone they suspect of doing matched betting or trying to beat their odds.
  • Altering or withdrawing offers at will: Bookmakers can change or withdraw offers at will with no notice to consumers.

Conclusion

Matched betting can be a fantastic side hustle if you are willing to spend some time figuring out how it works. If done correctly, you can generate a consistent, low-risk cash flow. Finally, read the terms and conditions of the free bets carefully, stay organized, and bet responsibly.

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