Our Matched Betting Introduction will explain the basics of Matched Betting…
When you place a bet, the bookmaker gives you odds. This is often in fractional form (e.g. 10/1 – Ten to One), but it can also be in decimal form (e.g. 1.75). The longer/higher the odds, the less chance of the outcome coming true – a horse at 6/1 is more likely to win than a horse at 20/1. When you place a bet, you are backing an event, betting that it will happen:
- “You bet that horse wins”
- “The score will be 2-1”.
When you place these bets, you are gambling.
Now, we have all enjoyed a flutter once in a while – whether it is a bet on your favourite football team in the cup, or a nag in the Grand National, we have all done it! Wouldn’t it be nice, if instead of ripping your betting slip up and putting it in the bin, you could count your winnings?
With Matched Betting, rather than leaving things to chance, you can use the offers that bookmakers provide in order to gain a victory over the bookies, as it doesn’t matter if your team wins the match or gets knocked out of the cup, YOU WILL WIN YOUR BET. With Matched Betting, you remove the element of chance. Check out this simple explanation on how Matched Betting works.
To understand Matched Betting, you need to get the basics. This means understanding the difference between placing a bet as a punter and being a bookmaker. To do that, simply read on.
There are two types of bet:
The key to understanding Matched Betting is knowing that if you cover all outcomes, you cannot lose. By BACKING and LAYING the same outcome, this effectively cancels out the outcome – it is zero-sum. Check out the example below.
As you can see from this example, all outcomes have been covered.
- Manchester United win – The BACK BET wins.
- The match is a draw – The LAY BET wins.
- Arsenal win – The LAY BET wins.
The element of chance has been removed. It literally doesn’t matter what the outcome, the net effect is the same. Your bet will win – it is simply a matter of which bet wins, the Back or the Lay.
This concept is critical to Matched Betting. Now that you understand the principles in our Matched Betting Introduction, read on to see how to turn Matched Betting into profit.
We aim to provide details of bookmakers’ online promotions for UK residents (over the age of 18). Whilst we try to ensure that all promotions are up to date, bookmakers have the right to change the terms of their offers without notice, so we actively encourage you to read the terms of any offer that you are considering taking advantage of, carefully before doing so. We cannot be held responsible for inaccuracies.