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A matched bet is a type of bet that involves backing selections and laying the same selections with a betting exchange. A betting exchange is a platform that allows bettors to bet against each other, rather than against a bookmaker. A betting exchange offers two options for each selection: back and lay. A back bet is a bet that the selection will win, while a lay bet is a bet that the selection will not win.
For example, if you want to place a matched bet on a soccer game between Team A and Team B, you can do something like this:
By doing this, you have matched your bets and covered all possible outcomes of the game. No matter what happens, you will not lose any money. However, you will also not win any money, unless you have used a free bet or a bonus to place your back bet.
The purpose of matched betting is to take advantage of free bets and bonuses offered by bookmakers to attract new customers or retain existing ones. By using matched betting, you can turn these free bets and bonuses into real cash without risking your own money.
For example, if a bookmaker offers you a free bet of £10 if you place a £10 bet on any event, you can use matched betting to make a profit. You can do something like this:
By doing this, you have locked in a profit regardless of the outcome of the game. If Team A wins, you will lose your £10 back bet and your £10 free bet, but you will win your £10 lay bet and your £7.50 lay bet, resulting in a net profit of £7.50. If Team B wins, you will lose your £10 lay bet and your £7.50 lay bet, but you will win your £10 back bet and your £20 free bet, resulting in a net profit of £12.50. If the game ends in a draw, you will lose your £10 back bet and your £7.50 lay bet, but you will win your £10 lay bet and your £20 free bet, resulting in a net profit of £12.50.
Matched betting has several benefits for the bettor who wants to make a risk-free and consistent income from betting. Some of them are:
Matched betting also has some drawbacks for the bettor who wants to make a fun and easy income from betting. Some of them are:
Matched betting is a type of bet that involves backing selections and laying the same selections with a betting exchange. The purpose of matched betting is to take advantage of free bets and bonuses offered by bookmakers to attract new customers or retain existing ones. By using matched betting, you can turn these free bets and bonuses into real cash without risking your own money. Matched betting has several benefits, such as eliminating the risk, guaranteeing a profit, requiring no sports knowledge or skill, and being legal and tax-free. However, matched betting also has some drawbacks, such as being tedious and boring, limited and competitive, affected by human error or technical issues, and restricted or banned by bookmakers. Therefore, you should be aware of the meaning and impact of matched betting when you place your bets.