Key Matched Betting Strategy for Beginners in 2021
If you are ready to make money online without putting too much at stake you're at the right place. I know you have decided to get into matched betting to make a good income for yourself. You may have seen people out there claiming to be making thousands of pounds every month but do you know how they are doing it.
If you are a beginner it is very important to know every aspect associated with matched betting. In this tutorial, we will let you know what matched betting is, how it works, and the best matched betting strategy to follow in 2021.
To help potential new punters and even the experienced, this part of the tutorial has been further subdivided into easily understandable subsections covering all the aspects of Matched betting strategy.
Matched betting is one of the best ways to make money online. It’s a simple technique that allows individuals to earn a guaranteed profit from bookmaker's free bets and promotions.
It involves betting on all outcomes of an event, removing the element of chance, whilst at the same time receiving free bets and other amazing promotions from the bookmakers. These free bets can then be converted to cash profit. The reason it is called ‘matched’ betting is that you are matching your bookmaker bet with an opposite bet on a betting exchange. Always remember "Matched betting will only take place when the bookmakers are offering free bets".
Ok now you understand what matched betting is, but now comes the question, what a Bookmaker and a Betting exchange are?
Related article: Bookmakers Vs Exchanges - What's The Difference?
A bookmaking platform is a website that you use to place back bets while a betting exchange is similar to that of a bookmaker but diametrically opposite. On a betting exchange, you place a lay bet.
Back bet and Lay Bet in Matched Betting
Back bet: A back bet as the name suggests is your typical bet in which you bet on a team to win. So, in a game between Manchester United and Manchester City if you bet on United to win then that type of bet is known as the back bet
Lay bet: A lay bet is a different form of betting. In this type of bet, instead of backing for the team to win, your stake goes for your team to lose. Bookies do not usually offer these types of bets. Using a betting exchange is the most reasonable choice to place your ‘lay’ bet.
Related guide: What is Back and Lay Betting? Full Guide
How Matched Betting Works or How to do Matched Betting?
Now we know what matched betting is, what are bookmakers, betting exchange, Back bet, and Lay. Now it's time to know how to do matched betting.
We understand this with a help of an example, suppose there is going to be a football match between Turkey and Italy and you want to make money with this match by doing matched betting. Let's see how you can do it.
Find Right Bookmaker for Turkey vs Italy match: The bookie which has great and recurring offers and at the same time offers you the most favourable odds is called a right bookie or bookmaker. If you want Italy to win you can back your bet on Italy.
Find a good betting exchange for Turkey vs Italy match: To place a Lay bet, you need to pose as a bookmaker and use the betting exchange to lay your bet. Now lay bet on Italy's defeat.
Since no one loves to give money that easily, that's why bookmakers impose qualifying conditions to use their ‘free’ offers. You can easily stake the required amount in the exchange and get your free bet/money from the bookmaker quickly
Since you bet on Italy's defeat in the exchange, ideally it will be a lay bet against the back bet you place with your bookmaker. Since lay bets and back bets are opposites, you are bound to win at least one of them.
After successfully getting back the amount that you have staked you would have unlocked your free bet/reward. Now this reward can be used for your profit
Now we know how we can make a profit from matched betting but it is very essential to learn the best matched betting strategy to increase your profits.
Advanced Matched Betting Strategy for Beginners in 2021
Take Advantage of Sign Up Offers
If you are new at matched betting, taking advantage of Sign Up Offers can be the best practice. Various Bookmakers offer Sign Up offers like "bet £5 and £25 free bet". You can build up your bank balance as there are the easiest and most profitable matched betting offers to complete. Check Welcome Offers, watch video tutorials, and follow the exact process required to profit from each offer.
Always look for Similar Odds
Always look for similar Odds for a sure profit. The closer the match, the more money you’ll make from an offer. Let's understand this with the help of the Turkey vs Italy match example. Suppose the back odds for Italy to win at the bookmaker is 2.5 in such a scenario you’d want the lay odds at the betting exchange to be something like 2.6 or 2.7. The closer the Back Odds and Lay Odds will be lower the amount you will lose in qualifying bets. An unmatched or partially matched bet can lead to costly mistakes
Always use Matched Betting Calculator
It does not matter if you are a beginner or experienced, you should always use Matched Betting Calculator. This calculator helps to ascertain betting amounts on various types of bets. Whether you are participating in qualifying bets or free bets, there would be absolutely no doubt in your mind about the amount of money you are going to lay in the exchange.
Make a Habit to Double Check everything
The habit of Double checking everything will save you from countless errors and costly mistakes. Always double-check the similarity or the closeness of the Odds. When you place your lay bets don't forget to double-check liability (the amount you stand to lose at the exchange) and lay stake.
Join Matched Betting Forum or Discussion Groups
It is always beneficial to get tips from those who are already up and earning a good profit from Matched Betting. Profit Squirrel has a FREE Matched Betting Forum on Facebook, you can join this group to interact with some of the best matched betting experts. You can also ask your general queries on this platform.
Join Matched Betting Experts
You can join Profit Squirrel if you wish to learn matched betting tactics. The experts here at Profit Squirrel will provide you every guidance and video tutorials to make online money. Profit Squirrel does provide dedicated tools and software to help maximise your matched betting profit. If you are serious about making money from Matched Betting, join Profit Squirrel now.
Do research, Do not Rush, Be patient and take it slow
Matched betting can be a complex process for the newbie. First, understand all the techniques of matched betting, know how it works, understand the importance of Odds, and the importance of Calculator in matched betting. If you rush, it may costs you money purely because you didn’t understand the necessary steps to take
Get a Separate Bank Account for Matched Betting
A new bank account makes it easier to keep track of your results. Keeping a separate bank account will keep your identity clean, as traditional banks often don't approve loans and mortgages when they see your gambling deposits.
Related article: Best and Popular Bank Account for Matched Betting in UK 2021
Look for Betting Exchange with Lower Commission Rate
Betting exchanges may charge from 2% to 5% on commission on players’ net winnings and this is how Betting exchanges make money. If you want to minimise the amount of commission you pay so you keep more of the profit for yourself you can go for Betdaq and Smarkets as their commission rate is 2%
Set Yourself a Goal and Stick to it
If you want to earn a good profit in a long run you to remain persistent. You need to set some goals and work on it, that doesn’t mean stop matched betting once you get there. You need to stick with matched betted and stop getting into gambling. Gambling and matched betting are two completely different things. If you get into Gambling you may lose all your hard-earned money.
I hope our list of "Advanced Matched Betting Strategy for Beginners in 2021" will surely help you to make some extra profits. Good Luck
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