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How to Become a Master at Matched Betting

Sports betting is one of the most popular pastimes in the world, but many punters still believe they are predetermined to lose money. However, since the rise of online bookmakers two decades ago, Matched Betting has provided a way to make money when wagering on sports. 

In this post, you can read about matched betting, why it is a good money-making tool, and how to start your journey with this sports betting strategy. 

Find the Right Bets

So, you’re now armed with information about welcome bonuses and the basics of Matched Betting. Let’s move on to finding bets. Luckily, this is probably the easiest part of the whole guide. All you need to do is head to the casinodays of your choice and select a bet that meets the odds requirements of the welcome bonus. 

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Matched Betting – The Basics

Before you start your adventure, it’s best to understand the fundamentals of Matched Betting. For example, what is Matched Betting and how it can help you make a profit at your favourite bookies. 

As betting mechanisms go, Matched Betting is an excellent choice because it eliminates the risk and allows you to use bookmaker signup bonuses to get free bets. For example, if your online casino is offering a 100% deposit match welcome bonus and you deposit £100, you’ll receive another £100 in bonus funds. 

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Under the Matched Betting system, you can guarantee yourself around £80 in profit. Sure, I know what you’re thinking: “that’s impossible”. 

However, it’s not impossible and here’s how you do it:

Make back and cover bets: The idea behind the Matched Betting system is to avoid risk, so you’ll need to make two bets.:

  • Back Bet – This is the bet you place at the bookmaker through their sign-up offer. For this guide we will use the 100% deposit match with a £100 deposit. 
  • Cover bet – You make this bet at a betting exchange to ensure all the outcomes of the back bet are covered. 

For example, if your back bet is for “Team A” to win their next game, the cover bet would be for “Team A” to lose that game. In step 4, we will cover this betting method in detail. 

Find a Welcome Bonus

You won’t need to look far to find a bookmaker’s welcome bonus. These signup promotions are offered by most online sports betting venues to entice new customers. This is where Google is your friend. You can search “best sports betting websites + your country” to surface results of leading gambling venues. 

Once you have the leading bookmakers, visit each one to find which have the most appealing welcome bonuses. Importantly, you should always read the terms and conditions for any welcome promotion you want to participate in. 

There will be several stipulations attached to the bonus, including:

  • A time limit for when the bonus must be triggered
  • Wagering requirements, such as playing 30x your original bet to redeem the bonus
  • Restrictions on odds when betting

Time requirement 

Time limits on welcome bonus promotions are essentially the amount of time you must complete requirements to redeem the bonus. If you do not fulfil this timeframe the bookie will remove the bonus and it will no longer be available. While the expiration date of bonuses varies across bookmakers, the standard time is anywhere from 7 days to one month. 

Wagering Requirement

This is the most important condition of an online bookmaker bonus. Wagering requirement represents the amount of times you must repeat a bet to trigger the bonus. It is worth pointing out some gambling houses will call the wagering requirement the turnover requirement. Both terms mean the same thing. 

Most welcome bonuses have a wagering requirement of 30x or 40x the initial bet, but some may be 20x and others 50x. Either way, this means you will need to play 30 times your first bet. For example, our £100 bet on a 100% deposit match bonus with a 30x wagering requirement would mean you need to wager £3,000 before the bonus is triggered. 

Minimum odds

Finally, the bookmaker may also place some restrictions on betting odds for bonuses. In the terms and conditions, the small print will state the minimum odds required to count towards the wagers. For example, the minimum odds could be 1.2 or higher. If you place a bet with odds lower than this, it will not count towards the wagering requirement. 

Online bookmakers add minimum odds to protect their own interests. Otherwise, customers could make low odds bets on almost sure-fire results to increase their chance of winning. Interestingly, under the Matched Bet system it is unimportant if the bet you make wins or not. 

How to Place Matched Bets

Here’s the fun part! You have your chosen bet ready, so it’s now time to dive into the Matched Betting system and start making profit from your bookmaker. 

Here’s how you do it:

As we already noted, you make a back and cover bet for alternative results from the same match or event. Because both outcomes are covered, you cannot lose the bet. All risk is removed, and you can start making money on your wagers. It doesn’t matter the result of the sporting event, so you don’t even need to be a good predictor of sports. 

It is also worth knowing about the commission and liability of the cover bet. 

Commission: When making a cover bet, you should pay a small percentage of your winnings from the previous Matched Betting win. Betting exchanges make money through this commission so you cannot get away from it. Of course, for your first cover bet, you may have to dip into your own finances and take a small loss. 

Liability: The liability is the amount of money you could lose if the cover bet is not a winner. This is because you are essentially playing against yourself (the back bet) and will stand to “lose” one of the best. However, you should remember you won’t really lose any money because the back bet would have you covered. 

Repeat and Make a Profit

And there it is, you are now fully in the know about Matched Betting. Armed with the information above, you can repeat bets and keeping making profit from other bookmaker signup bonuses. Remember, there are hundreds of online venues and each of them has a welcome bonus that you can use the Matched Betting technique on. 

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Rahul Roy
Rahul Roy
I am a computer guy by profession and a sports fanatic by choice.
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