Matched Betting Explained: How It Works, Benefits & Risks in iGaming

By learning these mechanics, bettors can systematically exploit bookmaker promotions using these strategies. Bookmakers offer these incentives to attract new customers and retain existing ones, which creates lucrative opportunities for matched bettors. It’s a classic loss-leader strategy—similar to stores selling electronics at a loss during Black Friday to get people through the door. Matched betting may also work in three-way moneyline sports like hockey, soccer, and even American football, where a tie is possible. If, for instance, you place both a back and lay moneyline bet, you win if either team wins or if the game ends in a tie.

What is matched betting?

So there you have it, matched betting is a great way to earn yourself an extra income but there are things to be aware of. Geography – some of the offers are open to UK and Ireland residents only, although less so with online casinos and bingo sites etc. If you want to know more, please contact one of the matched betting products like Profit Maximiser and Profit Accumulator. In other words, you are placing two ‘matching’ bets and covering all possible outcomes.

• Matched betting is a powerful strategy for earning risk-free profits through bookmaker promotions.
• That’s the amount you stand to lose at Smarkets if Albania win.
• Let’s consider that a bookmaker is running a promotion where you can get a free £10 bet if you place a £10 bet on any event.
• Then place a lay bet of £25 on Chelsea at 3.05 with Betfair.

When’s the best time to start?

When writing, I’ve found the following odds for a Euro 2024 football match between Croatia and Albania. Click on the ‘2.32‘ lay button at Smarkets and enter your stake of £9.48. Sticking to both criteria means you can claim your free bet by losing just a few pence overall. If you feel you need to go in-depth on qualifying bets, take a look at my Qualifying Bets Guide. To work out your returns with decimal odds, you simply multiply your stake by the odds.

Either way, your overall profit is zero, but you will have met the conditions needed to qualify for your free bet (by placing a £10 bet). Over time, as bookmakers tighten bonus policies, the number of profitable opportunities may decline. Since bets are “matched” (back vs lay), you eliminate the chance of losing money. Most automatically place the free bet in your account, but it can take a few days before they are deposited. In some cases, you may need to claim the bet, so ensure you follow the appropriate steps to receive your bet.

Exchange bookmakers, like Betfair or Smarkets, allow users to bet against each other rather than against the bookmaker. This is essential for matched betting because it enables you to “lay” bets — effectively betting against an outcome to happen — which is what balances your risk. An odds matcher is an essential tool that compares bookmaker odds with lay odds on exchanges. It highlights the most profitable opportunities for risk-free bets. Our odds matcher is one of the fastest and most reliable on the market, updating in real-time to help you catch the best bookmaker offers before they expire. Matched betting is one of the most unique strategies in the iGaming space.

Higher odds on your back bet mean more winnings, while higher odds on your lay bet mean more liability. mostbet download In betting, liability refers to the stake you risk when you place a bet. However, how we interpret liability varies depending on whether you’re placing a back bet or a lay bet. The best bets to use when Matched Betting are never selected using sports knowledge or betting tips!