I was just 18 years old and was not legally permitted to enter a bookmaker until I came across a phrase that would change my life. It was matched betting.
My father was not one to bet on the Grand National, but he had been an impartial player. My family was the same. Some might argue that my closest friends were avid K8Viva Kien Thuc Nuoi Ga Choi fans. This is also where most relationships with the betting industry begin. Here in the UK, we absorb so many gambling related ads pre and post buildup and between halves during a regular Soccer Saturday. Sky has been known to call its coverage of the English Premier League. However, only one of my closest friends had ever been inclined towards the revolving doors of riches and rags into the world of the bookie. This was not an influence on me.
This in mind, I find it odd that I have ever given matched betting a try. If you ask me how I discovered the term initially, I can’t remember.
I think I was looking for information about how to make money online like many young men of that age. I found a wealth of information about regular people consistently taking money from casino and bookmaker owners through the implementation of a method called arbitrage.
Although I admit that I was initially a little confused by the information, when my eyes first caught it all, I did understand some of it. Although I was able to understand the concepts, it seemed daunting to actually do any calculations. For someone who has never staked a wager at a bookmaker, this is even more true! I believe I can confidently say that I have never physically placed a bet at a bookie until I had already gotten thousands of pounds through matched betting.
I am a bookmaker’s nightmare!
You may be wondering, if you are reading this little commentary down memory lane, what I mean by “matched betting”.
Simply stated, matched betting refers to the act of matching any bet placed at a bookmaker with a bet placed at a betting exchange in order to cover all outcomes.
Let’s take as an example a classic football match: Manchester United taking on Liverpool in a bitterly fought local derby at Old Trafford.
The success of bookmakers around the globe would be impossible for a normal punter to simply stake their money on one outcome and hope it comes true.
A matched hand that is better than the one above will not be bothered by the end result of a game as they will have covered all scenarios.
Another example of matched betting is to place a PS10 bet on Manchester United beating Liverpool at odds 2/1, then go to Betfair to bet against Man United winning at odds 2/1.
Are you still confused? Good! It was because I was, and partly because matching betting is not something that holds any value. It’s absurd to bet on a bookmaker’s win and then wager against a bet you just placed at a betting exchange. ?
Based on the bets that I identified, you’d be correct to say that I have very little to lose unless they were arbitrage opportunities. I would have nothing to lose in this case. The bets that I have shown you don’t pay a penny.
However, my purpose in doing this is to explain the finer points. With the many online bookmakers located all over the globe, we have the advantage of being able to choose where to bet. Therefore, the bookmakers need to make us a compelling offer to convince us to join them. They should give us bonuses (or free bets). ).
If a bookmaker offers me a match on my deposit and a free bet up to PS50, then I should consider that the first bet I place can be a matched one like the one I mentioned above.
Although I may lose nothing on this bet, I will have the benefit of the sign-up bonus at Bookmakers and will be rewarded by a PS50 bet!
This is my free money, which I can extract from the principle of matched betting and keep.