When most people place a bet they will stake a set amount on a particular outcome, e.g. that Team A will beat Team B, but in order to make any money they are going to have to either get lucky or have some kind of insider knowledge! The technique of matched betting on the other hand, involves not just placing a bet as a punter, but also laying a bet as a bookmaker would, which the advent of betting exchanges has allowed any average Joe to do. Properly used, matched betting can be used to eliminate the element of luck and make guaranteed no risk returns.
The Technique
When you place a bet you back the outcome you have chosen. For example, you might back Team A with £10 (* Any currency works the same, GBP is used for the purposes of this article) to beat Team B at odds of 3 to 1. If Team A does indeed beat Team B, you would receive £30 winnings and the return of your £10 stake (total £40). If you lose because Team A does not beat Team B then the bookmaker will keep you £10 stake.
Consider for a moment, however, what would your position be if you were the bookmaker? If Team A beat Team B you would have to pay out £30 in winnings and return the £10 stake. But, if Team A did not beat Team B then you would be entitled to keep the £10 stake for a £10 profit. The process of offering a bet to someone, just as a bookmaker does, is know as laying a bet.
Acting as both the punter and bookmaker leads to a rather strange conclusion. Some of you may have already spotted this, but whatever the outcome, the back bet and the lay bet cancel each other out. In each case the net result is £0.
Situation 1
If Team A beats Team B you as the punter gain £30 (winnings) and you as bookmaker lose £30. The net gain is £0.
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If Team A doesnt beat Team B you as the bookmaker gain £10 (the punters stake) and you as the punter lose £10. The net gain is £0.
How do I make profits?
Great, you may be thinking. If whatever I win is always cancelled out by whatever I lose how am I going to make any money?
Dont worry. Matched betting is not used by itself, but in conjunction with the free bets and bonuses offered to new and existing customers by bookmakers to make the guaranteed no risk returns.
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Referring back to our Situation 1 of Team A and Team B, lets assume now that you are not backing Team A to beat Team B with your own £10, but are instead using a £10 free bet given to you by the bookmaker. You should now be able to see that irrespective of whether Team A do in fact beat Team B you will make a profit of £10 (the free bet amount).
Situation 2
If Team A beats Team B you as the punter gain £40 (£30 winnings plus the £10 stake returned which was not yours in the first place) and you as the bookmaker lose £30 (winnings paid out). The net gain is £10.
If Team A does not beat Team B you as the bookmaker gain £10 (the stake) and you as the punter lose £0 (the stake was free). The net gain is £10.
Expected Profits
Does this sound to good to be true? Well it is and it isnt. There are a couple of minor points worth bearing in mind. The neat examples used to illustrate the technique of matched betting do not reflect reality 100%.
For example, you will need to use betting exchanges to lay bets that charge commission of between 1 and 5 percent, and sometimes may struggle to find identical odds. Nevertheless, it is possible to use Matched Betting to gain a guaranteed profit of between 95 to 75 percent of the value of the free bet you receive. There are hundreds of free bet offers out there so the possibility is there for substantial profits.
About the author:
This Article is written by John Verkroost, owner of Free Bets, the free bet and bonus information site where you can find more details on the technique of Matched Betting and a comprehensive list of free bets and bonus offers
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Matched Betting: the Intelligent Betting Method