You may have heard a little bit about “matched betting” recently. More and more people, including those who have not traditionally been involved in online betting, are picking up this technique as a way of making some extra income.
Despite this growing trend, there remains a fair amount of confusion and misinformation around matched betting. Many people don’t understand how it works, and some have been scared off because they have (incorrectly) been told it is some kind of scam or con, or that it is illegal.
In this article, we will break down how matched betting works, address the myths around this strategy, and in particular how to use it to bet on football matches.
What is Matched Betting?
Matched betting is a specific technique which uses a combination of free offers on bets with strategically matching these bets to essentially guarantee returns on every bet.
Online bookmakers give out free offers for a variety of reasons: for example, when you sign up to the site as a new customer, or as an incentive to encourage existing or lapsed customers to place more bets (this latter category are called “reload” offers).
In matched betting, you take this free offer and use it to place a bet. You then place a bet on another betting site the opposite way: that is, on the exact opposite result. This way, you know that one bet will definitely win, and one will lose. Importantly, both bets need to be the same amount and at the same odds, meaning that the net result is technically zero.
However, because you have used a free offer in the process, you have now generated a small profit for this same amount. This is a similar but distinct approach to sports betting bankroll management, which also uses a mathematical based strategy to generate returns on bets, though in a different way.
How Can I Use Matched Betting on Football Matches?
This process can easily be applied to betting on football matches. In fact, there a great number of online bookmakers in the UK which facilitate betting on football, and almost all of them regularly issue introductory and reload offers.
Most bookmakers will pay out around 80 – 90% of the free offer, so if you take a typical reload offer of say £10, and use it to place a matched bet, you can expect to earn a profit of £8 – £9.
This may not seem like much, but if you repeat the process over and over you can generate a tidy side income. Matched bettors who dedicate some time and knowledge to the process have been known to earn £500 or even £1000 per month.
As this suggests, some level of expertise is required in order to be successful with matched betting, but this is something you can easily pick up over time.
There are also some great online resources to help: sites like profit accumulator have a wealth of resources to help you identify new free offers put out by online bookmakers, and also tips and advice for rolling out this strategy effectively.
What are the Risks?
At this stage you may be thinking that matched betting sounds too good to be true. However, it really comes down to logic and science.
Because of the specific techniques used in matched betting as laid out above, this is not gambling at all. The strategies used eliminate chance from the equation meaning you can be guaranteed on returns.
One of the myths around matched betting is that it is illegal or somehow “bends” the law. In fact, there is nothing at all illegal about the practice: after all, as a consumer you have a right to accept free offers and use them to place bets however you wish.
You equally have a right to place whatever other bets you deem fit – there is absolutely nothing illegal about that!
This of course doesn’t mean that online bookmakers like the practice of matched betting: after all it is beating them at their own game! What can happen is that if you start to use this technique regularly, bookmakers can flag you and may cease to issue you free offers, or ban you from their service. Fortunately there are plenty of other bookmaking sites around.
In other good news, profits from matched betting are also completely tax free in the UK so you can hold on to 100% of your earnings.
What Is a Good Time for Matched Betting on Football?
You can implement matched betting at any point during the football season, however the beginning of the League is a particularly good time to start. This part of the year is one of the biggest events in online bookmakers’ calendars, meaning they launch a large number of free bet offers. Because the process of matched betting relies on these free offers, more offers means more potential profits!