Now you are interested in ‘Matched Betting’ but need a guide. Well there isn’t really much to know in about match betting because it is quite simple. All you need to know is the basics.
Firstly, read my Oddsmonkey Review
So, here is some of the things involved in matched betting-
What Is Exactly Is Matched Betting?
Basically bet sporting is just about-
- First registering online with an online bookmaker who offer a free welcome bet.
- Then placing a qualifying bet to unlock your free bet by concurrently ‘Backing’ an event to happen and ‘Laying’ that the event will not occur.
- And also place a free bet using the same process, to get a second break-even situation.
Match betting is not gambling; you are not hoping that an event you have bet on will luckily happen. Actually, matched Betting has very little to do with events.
How Is Matched Betting Risk Free?
In match betting, there is no risk. The only thing to bear in mind is human error. The only way you can lose money is if you make an error, like missing a step in the process, or you read the screen incorrectly and bet on the wrong event, or you put the wrong amount of money in the wrong site. With Oddsmonkey all the work is basically done. All you need to do is just to engage your keyboard, check and check again.
What’s Backing and Laying in Matched Betting?
A ‘Back’ (backing) bet is a bet on something to happen like a football team to win, a horse to win a race, a person to be evicted from Big Brother and so on. It is just like the bet you would often place with a traditional bookmaker or even with your buddies.
A ‘Lay’ (laying) bet is the opposing bet made on an event not to occur and is placed with a betting exchange.
The Free Bet
With free bet, you are just doing the exact same thing again, but this time, for the first half of the bet you are not giving the money, so you are going to equal yourself out once more, but only will have provided part of the money.
The Importance of Terms and Conditions
In match betting there is nothing that could actually trip you up but you will need to look out for some certain things, one of which is terms and conditions.
Normally, the things you will need to scan search for in the terms and condition text are:
- The amount of free bet.
• The qualifying bet and odds.
• Time when the free bet becomes available; straight away or after qualifying has settled.
• The dates of eligibility; the qualifying bet most times has seven days to be made and also does free bet.
• The wagering requirements; normally the free bet has to be bet as a whole, but some allow you to break them in different parts.
• If the free bet stake is refunded which is almost always no.
• The roll-over requirements.