The Matched Betting Guide – Making It Work For You
What Is Matched Betting?
We’ve all heard of the phrase hedging your bets, but few of us thought we’d ever make a betting strategy from it. Yet, that’s exactly what lies beneath the matched betting strategy. With matched betting you are seeking to beat the bookies and there are two methods of matched betting to do this. You can either take advantage of bonuses from a bookmaker that give you a bonus bet or bets of a certain value and also use a betting exhange or, with matched betting without bonus bets you use the lay bets of a betting exchange combined with the back bet of the bookmaker to make matched betting work for you. It’s all about getting as much value out of your betting.
In this matched betting guide, we’re going to show you the principle behind the matched betting strategy and take you through examples of matched betting explained. But, before we dive in, a word of warning, match betting strategy, particularly the exchange matched betting without bonus bets method is complex and not for inexperienced punters! So complex in fact that you’ll probably end up with a matched betting spreadsheet to explain it!
How The Matched Betting Theory Works
To make your matched betting strategy work, you need to understand the theory behind matched betting. So, here’s a very simplified matched betting guide:
Essentially, when using matched betting, your using a technique relying more on maths than chance. And, if you manage to get it right, it can pay off well. For matched betting the theory is simple; you make one bet where you back a bet and another where you’re laying the same bet at an exchange. The back bet has to be at better odds than the lay bet. If the bet comes off, you win on the back bet and pay out less than you’ve won on the lay bet. If the bet loses, you lose on the back bet but the loss is more than offset by the win on the lay bet. Complicated, oh yes! We told you that you’d probably need a matched betting spreadsheet!
Matched Betting Explained – The Example:
You make a bet on Man City to beat Man Utd. At a bookie you back the bet to win at odds of 2.00. And then you use a betting exchange to lay the same bet at odds of 1.50.
If Man City win:
£1 stake returns £2 at the bookie.
But the lay bet costs you £1.50.
You’re £0.50 up.
If Man City lose:
£1 stake at the bookie is lost.
But the lay bet wins £1.50
You’re up £0.50
Congratulations, you’ve hedged your bets.
Matched Betting Strategy – Using Bonuses & Exchange Betting To Make Betting Pay
An easier way to pull off matched betting strategy is by using bonuses to essentially give you bonus bets which you use to back your bet at the bookie. Then you lay the same bet to the same stake as the bonus bet at the betting exchange. Same principle as the method above, just better profit as you’re using the bookie’s bonus bet.
Matched Betting Without Bonus Bets – Using A betting Exchange To Hedge Those Bets
This is the method we showed you in the example above. The principle of matched betting without bonus bets is just the same; bet at a bookie at one set of odds. Make the same bet at a betting exchange but lay the bet at lower odds. The differential between the odds is what ends up making you the profit whether the bet you’re taking wins or loses.
Matched Betting – A Complex Strategy For Experienced Betting Exchange Users
Hedging your bets with the bookie plus a betting exchange can sound simple when laid out as here in our matched betting guide. However, it’s something that actually gets incredibly complicated. Experienced users of match betting will end up using all sorts of specialist software and calculating apps. Trust us, it’s not for the novice, no matter how tempting this matched betting explained summary makes it seem!
Matched Betting is all about understanding not just the conditions of the bet required by all punters but to have a solid understanding of the behind the scenes mechanics and maths of odds and probabilities.
Matched Betting Key Points
- Matched betting is a strategy based on maths rather than chance
- You need a complete understanding of betting theory to make it work for you.
- Matched betting is for experienced punters only, not for novices
- You need to use and understand how to use a betting exchange site as well as a traditional bookie
- Matched betting can use bookmaker bonuses and bonus bets
- Matched betting without bonus bets is also possible
- With matched betting you are hedging your bets so losses from one are always outweighed by winnings from another.