Matched betting is a type of wagering where you place a bet on an outcome and the casino pays you if that outcome happens. Matched betting is often confused with parlay betting which is also common at online casinos. Matched betting is generally simpler and less risky than parlay betting and it is also more convenient as you do not have to place as many bets to win.
Matched Betting Explained
Matched betting can be confusing since it is not always immediately obvious how much you will be paid for a winning bet. To help clear up any misunderstandings, let’s examine how matched betting works in a little more detail.
If you connect to a casino via their website and you make a matched betting bet using your credit card, the betting site will match your bet with a bet of the same amount from another user. The payout for a matched betting bet will depend on how the two bets compare in value and if they are winners. The matching of the bets happens almost immediately and you will receive your winnings from the casino either via a direct deposit into your account or via a certified check.
How Much Can You Make Using Matched Betting?
So, how much can you make using matched betting? For the sake of this example, let’s assume you are betting $100 on a $100 winnings match. In this case, you will receive $100 for each matched betting win you have. This will multiply your winnings by two ($200 total) and if you continue to bet $100 on each matchup, you will eventually hit a $400 payout ($400 win, $400 match, $200 win, $200 win, $200 win, etc.). Most online casinos allow you to make only one matched betting bet per day but you can play at many different online casinos to maximize your earnings.
Benefits Of Matched Betting
As we mentioned above, one of the significant advantages of matched betting is that you only need to place a single bet to win. The second win will automatically satisfy your bet and you will not have to place another bet to win again. The simplicity of single betting vs. multiple betting makes matched betting attractive to new and experienced gamblers alike. You can also use matched betting to create a winning ticket with several other similarly situated gamers. This is often done at sportsbooks and it creates a fun competition where everyone wagers on the same team but you do not need to keep track of multiple accounts to participate in this game. Lastly, the use of credit cards to place bets on sites like BetOnline or Bovada means you can use the cards almost anywhere and the financial restrictions placed on prepaid cards by most credit card companies does not apply to online betting.
Matched Betting Examples
To further explain the concept of matched betting, let’s examine a few example bets you can make.
For the sake of this example, let’s say you are a soccer fan and you find yourself at an online casino that allows you to place bets on soccer matches. You can bet on which team will win the match or you can place a bet on the result of the match itself. If you were extremely fortunate, you might even bet on both teams to lose so you can avoid having to pay out on your wagers. Let’s say you choose to bet on the result of the match for a $100 winnings match. In this case, you will win $100 if your chosen team loses the match or if the match ends in a draw. You do not need to concern yourself with the odds of either team winning the match since you already have the desired outcome in mind. In other words, you are using probability to your advantage.
On the flip side, if you bet on the favorite team to win the match and they do in fact win, you will lose $100 since you have already bet on that outcome occurring. If you chose the underdog team and they win, you will gain $100 since you have backed the opposite outcome. In this case, you are using probability to your advantage too but in the opposite direction and it is always a tricky dance trying to figure out which team to back when you are placing bets at a casino. Sometimes it is best to just pick a side and then back it without worrying about the particulars. This is how people get ripped off at the casino. Knowing when to back someone and when to walk away is what separates the successful from the unsuccessful gamblers. This principle also applies to sports betting where it is often best to just pick one or two teams to back and then take cover while the rest of the teams you are wagering on lose so you do not risk too much of your own money on the wrong side of the bet. In this example, backing the favorite team meant you risked $100 on a $100 winnings match but it was still better than risking nothing at all since they did indeed win.
As you can see above, matched betting can be a profitable venture for the right gambler but it does take a little bit of research to figure out which teams to bet on and which ones to avoid. Still, if you are a savvy user who knows how to hedge their bet using the right strategies, matched betting can be a reliable way to earn. Just remember: the more you bet, the more you will lose.