Matched betting goes by a myriad of names – lay bet betting, back betting, etc. These refer to a betting system that allows punters to turn free bets into actual money. Would you have ever considered this a possibility? Well, some punters found a loophole in the betting sites, exploited it, and earned a whopping lot from it. Even now, with a range of the best matched betting sites offering such chances, you, too, can cash in on this chance. But first, you must understand what this system entails. And that’s precisely what we will cover in this piece:
How Does it Work?
The premise is quite simple – making money from free bets. But hacking it is not as easy as it seems. First, you must find a bookie that offers a free bet as part of its welcome offer. And luckily, most sites now have this option as a way to lure more customers. So, all you need is to find two or three suitable options that do not get their odds set by the same provider. That last part is essential because some sites use the same providers and thus have the same odds.
Secondly, you want to bet on a particular outcome, e.g., team A will beat team B. That’s an easy one. But then again, there are no guarantees in betting. So, it’s quite a long shot that team A will emerge as the winner. How can you counter this? – by fulfilling the third step. Place a bet of the same amount against the first bet. So, in this case, you bet that team B will win.
That means that regardless of whether team A or team B wins, you still make money. How? Suppose you have a free bet of $50 on site 1 where you wager on team A at odds of 1.50. Then a similar amount on site 2 on team B at odds of 2.10. Assuming team A wins, you will have made a profit of $25 from the free bet on site 1. Not bad at all.
Of course, more math goes into this betting system – commissions, liabilities, and all. But you get the gist. It’s all about creating lay and back bets to ensure that you will most likely turn a profit whatever the outcome.
Is it Easy?
On average, punters make about 80% of the free bet amount from such wagers. But it’s not an easy job. It requires you to find games with competitive odds. Also, you must find good free bet options. Scouring through sites in search of such deals is not an easy task. That’s why people delegate the work to software. To ensure you get the best possible results, we advise that you:
- Start small: Until you understand how to exploit the system, go with the easy options. Start with signup offers and small amounts before going for the big wins,
- Have a bankroll system: As you will use your cash in different accounts, you must understand how much you are willing to spend on the system. Also, where is your money?
- Be safe: Only use reputable sites and, even still, keep track of your logins and only use secure internet connections. After all, those sites can link hackers to your bank details.
Do you want to know the best part about this system? It’s completely legal. Unlike some betting strategies that can get you kicked out of sites, you can make good money while being on the safe side of the law. But that does not mean that bookies love it – some see it as abusing the perks of a bonus. So, you need to be wary of being flagged and restricted. That said, give this system a try and see how it goes!