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How Does Matched Betting Work & How To Do It?: New 2024 Guide!

Publish Date: 10/03/2020
Fact checked by: Myra Chopra

Matched betting is a betting strategy where you bet on two possible outcomes of a match using free bets. Since you are making two opposing bets, your risk becomes almost nil and so, you end up making money anyway, without using any real money. However lucrative it might sound, matched betting can be complicated. You can use a betting strategy guide to understand how to do matched betting and use some matched betting tips to help you out.

What’s Covered in This Guide?

  • Explanation of what is matched betting and the types of bet involved.
  • Steps on how to do matched betting
  • Tips on how you can engage in matched betting.
  • Understanding if matched betting is legal or not.
  • How matched betting helps the punter in a risk-free manner.

An Introductory Guide to the Matched Betting Strategy

The betting strategy on how to do matched betting is loaded with a variety of Matched Betting Tips, strategies, and explanations. Matched betting is a very specialized way of using free bets and bonuses. If you are choosing to engage in matched betting, it will always be in your benefit to make use of the strategies and guides to help you understand how to do matched betting.

Matched Betting – A Quick Definition

First, it is important to know what is matched betting and why many advanced punters try to use it, before you go on to how to do matched betting. Every sportsbook tries to give out free bets or bonuses to attract new customers. This is also referred to as a welcome bonus. A sportsbook can also give away more free bets during special promotions or as reload offers. Matched Betting takes place when you bet using only the free bets that you receive from a sportsbook.

Matched Betting is 100% legal, so you can confidently learn how to do matched betting. If you can use your free bets in a tactful and calculated manner, you can make money by matched betting. There are many punters who can make money out of it. However, sportsbooks do not give bonuses and free bets because they are generous. The sole purpose for giving out free bets as welcome offers is to attract new customers so that they could deposit and play with real money while betting. So, if a sportsbook finds out that you are using matched betting techniques, they might not give you any free bets in the future or they can block your account. 

Matched Betting Strategy – Step by Step Guide

The first thing that you might be wondering is how to do matched betting. Here are a few steps on how you can engage in matched betting:

  • Find a suitable bookmaker. Decide on the suitable bookmaker based on the bonus that they are offering.
  • Find a proper betting exchange: Since you will be betting on two outcomes to even out the odds, you need to find a suitable betting exchange to accept the second bet.
  • Qualifying for the bonus: Generally, you need to qualify for the bonus first. The bookmaker will provide a condition and to qualify you can dump your first bet liability on that exchange.
  • For qualifying for a bet, you can make a back bet and a lay bet. The back bet can be on a specific team winning, while the lay bet can be on the same team losing. It will balance out the odds. So, whether the team wins or loses, either your back bet or lay bet wins.
  • Once you win a similar amount as you staked, you can now unlock the free bets.
  • You can place your released free bets on the respective sports repeatedly and level your profit in that manner. In the process, you will end up winning cash from free bets.

Understanding Back Bets & Lay Bets – A Quick Look

When you are learning how to do matched betting back bets and lay bets are important concepts to know. Back bets, as the name suggests, means a bet where you are backing up a certain outcome to happen. So, if you believe that a certain bet will win, you can engage in back betting. On the other hand, lay bets refer to the situation where you bet against a certain outcome. So, if you have engaged in back betting, you can engage in lay betting by betting against that outcome, thereby cancelling out the risk. However, sportsbooks do not allow you to make bets on two contrasting outcomes. You need to go through a betting exchange where you can act like a bookmaker and hence, engage in lay betting. Due to the presence of both back betting and lay betting, this kind of betting is known as matched betting. 

Matched Betting – 9 Expert Tips for Success

Matched betting can be quite a lucrative affair where you do not lose out on real money but transform the bonuses into cash. However, you have to use it in a very calculated manner and know in-detail how to do matched betting. Hence, when you are engaging in matched betting, it will help you if you look into a few tips of tricks of matched betting:

  • Choosing the right betting exchange: Even if you are confident on how to do matched you have to engage yourself with a betting exchange that will help you make a lay bet, and do your research properly. Do not go for a fraudulent betting exchange with unreasonable commission rates.
  • Get help at first: Matched betting, while profitable, is not easy. You may not be experienced enough to engage in matched betting at the first go. So, before going for matched betting, get help from strategy guides.
  • Check everything properly: Make sure that you check everything properly. Always check the terms and conditions of the bookmaker as well as the bets that you place. Be informed before going for matched betting.
  • Pick the markets with similar odds: During matched betting, you are placing two bets but through different areas – one bet at a bookmaker and another at a betting exchange. Ensure that you find close matches in both the markets – that will mean that you will win more money off it.
  • Try out multiple bookies: Do not stick to one bookie. Since the gambling world is a competitive one, there will be multiple bookies who are offering wonderful bonuses. Most bettors try to get 80% of the free bets in cash. The more bookies you go for, the better your profit can be.
  • Mug Bets: Do not always utilize free bets. Bookies have techniques to find out who is engaging in matched betting and they can easily restrict your account. So, you can place small real cash bet to keep the bookie account open. While you might lose a small bit of money, you will not get disqualified by the operator.
  • Gambling and matched betting are not the same: Many punters fail to realize that matched betting is legal and that it is almost no-risk betting. However, gambling requires taking risks. Taking risks will get you higher wins but it can also lead to major losses. So, if you want high wins, matched betting is not for you.
  • Start with the welcome offers: While there are many occasions when a sportsbook can give you free bets, like during special promotions, it is best to start matched betting with the sign-up offers. The sign-offers are generally quite high and they are easy to receive too.
  • Don’t give up: It might take a bit of time to get used to matched betting as a whole. While not complicated, matched betting requires a lot of calculations, research and use of tips. You need to be persistent to be a true expert in matched betting.

Enjoyed This GamblingGuy Strategy Guide? Check These Out!

Matched betting is quite a great way to engage in betting for the first time. It is quite a risk-free affair and if you do it right, you can get a sizable amount of money from it. However, just jumping into Matched betting will not help you. It is quite important to learn about matched betting and only then, making an educated choice to go for it. You need to know how to do matched betting as well as use some expert matched betting tips to actually help tilt the matched betting strategies in your favour.

There are many other strategy guides that you might take help of. You can learn about how accumulator betting works, how bookmakers make money, what is 1×2 betting, can you make money on betting, how does cash out betting work and other such strategies to strengthen your knowledge about the matched betting and the betting world in general. There are also specific strategies available for sports, ranging from betting strategies for football, betting strategies for cricket, betting strategies for tennis, and betting strategies for horse racing, Greyhound Betting Strategy, Inplay Tennis Betting strategy, Golf Betting Strategy, Value Bet Strategy etc.

How to Do Matched Betting – Concluding Thoughts

Matched betting can help punters, especially newbies, make money without taking actual risks which is why it is helpful to know how to do matched betting. Matched betting, though, requires a bit of calculation on the punter’s end. You would need to know how to calculate odds and should conduct the research to engage with the right betting exchange. Nevertheless, matched betting can be best achieved if you choose the right operator with good bonus offers. It is also important to engage in mug bets so that the operator does not terminate your account because of excessive use of free bets.

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