Matched Betting Dos and Donts for Beginners
This list of Matched Betting Dos and Donts is for you if you are a beginner. People do mistakes and it's good to learn from those mistakes but it is even better if you learn all Dos and Donts beforehand so you never make those mistakes. People around the globe are making a good amount of money through matched betting and they do also follow these Matched Betting Dos and Donts to avoid mistakes.
Matched Betting Checklist: DOs and DONTs
Learn and Educate Yourself
Before you get into matched betting you should understand what matched betting actually is and how it works. Partial or incomplete knowledge can cost you money.
Always Ask the Expert
It is good if you want to do it yourself but it's even better if you ask the experts first. As these experts have years of knowledge and they do understand Match Betting Terminologies far better. Under the guidance of these experts, you can learn the best ways to do matched betting.
Use an Odds Calculator
These Matched betting calculators or Odds Calculator help bettors determine how much they should lay on bet exchanges to maximize the profits of each matched bet. This type of specialized odd calculator simplifies the matched betting process by calculating the stakes and odds for you.
Use OddsMatcher tool
OddsMatcher tool will be the most useful tool when you matched betting at it saves a huge amount of time and effort and can increase your matched betting profits significantly. This innovative piece of software will find, sort, and compare odds from the bookmakers and the betting exchanges. This tool will also show how much profit or loss will be made from the qualifying bet.
Read Terms and Conditions carefully
At times we do not bother with reading some really important details on the terms and conditions of an online betting site before deciding to sign up. Different Bookmakers have different terms and conditions. It is almost impossible to memorize all the betting rules or terms and conditions but it is very important to know a few key things, concerning your preferred sports.
Useful Guide: Simple way to make money easy - Learn Matched Betting
A separate Bank Account is good
Using a separate bank account is not necessary but it is good in order to track your matched betting profits. 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
Maintain enough funds to cover Debts
Your bank account must have sufficient funds to convincingly cover the bets you have placed or planning to place. If you are a beginner and don't have enough money we suggest you place a bet at low stakes as a higher stake means more liability.
Do matched betting regularly
Matched betting is a slow and steady process to earn money, you need to do matched betting regularly. Half an hour a day, you could earn £200-500 profit in a month but if you give an hour a day or more you can seriously earn up to £1,000 – £2,000, or even more on a good month.
Always place the Back Bet first
In matched betting, everything works off the odds of the back bet. You should always place a back bet first not the lay bet, as placing a lay bet first can cost you more money if the price of the back bet changes.
Use spreadsheets to track results
If you are serious about matched betting please ensure to keep an updated record of your matched betting results. If you are starting with a smaller bankroll this is especially important as you will probably need to move money around.
Double-check everything before you bet
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.
Don't use the wrong calculator settings
This is one of the common mistakes a beginner can do when it comes to using the Matched Betting Calculator, You should always use a normal calculator for qualifying bets while if you use a normal calculator for a free bet it can eat your profits. Make a habit to double-check which calculator settings you are using before placing a bet.
Do not Bet on Unmatched Bets
The probability of making a profit or incurring a minimum loss increases if we bet on matched bets. Betting on Unmatched bets can cost you money.
Do not expect to get rich quickly
Matched Betting won't make you rich over a night, it is a time taking process. You need to do matched betting on a regular basis to keep your earnings grow. Do not get into matched betting if you are looking for a shortcut to make big money instantly.
Do not create multiple accounts on the bookmaker's website
Please do not create multiple accounts on the Bookmakers website. Making multiple accounts in your name is against every bookmakers’ terms. If exposed, matched bettors can be banned from the bookmaker website.
Do not use other person's details
If you are making multiple accounts on the Bookmakers website please do not other person's details like Address, phone number, and card without their acknowledgment. Using another person's details can lead to severe consequences.
I hope, you will follow these Matched Betting DOs and DONTs to make a good profit without making any unnecessary mistakes.
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