Matched betting is when you make a bet on the outcome of a sporting event and if the bet wins, then you get paid out automatically. The concept is pretty straightforward; if you place a bet on a game and that game ends up being a win, you get your money back and then some. Basically, you’re making money automatically just because you had a bet on a certain outcome.
The attraction to this concept obviously is that you don’t need to participate in the game to make money off of it. You can watch the game, place bets, and then continue doing what you were doing before the betting started. The chances of you winning or losing are the same whether you’re at the game or sitting at home watching it on TV. This makes matched betting a very popular way of making money these days.
You may be wondering how exactly do I make money with matched betting? The answer is actually pretty easy, and it involves a few different steps. First, you need to set up a betting account with a bookmaker. Second, you need to learn a bit about how the betting exchanges work. Third, you need to find a good match with the right conditions (the more details, the better). And finally, you need to make sure that you win or lose your bets based on the actual result of the game, and not based on some condition that you find convenient at the time (the more details, the better).
Let’s dive into each step of the way to make money with matched betting.
Step 1: Set Up A Betting Account With A Bookmaker
The first step in making money with matched betting is to open up a betting account with a reputable bookmaker. You will need to deposit money into the account in order to place bets; this is called “funding” the account. You can find a list of some of the best online sportsbooks reviews at BestSportsBook.com to help you pick a bookmaker that meets your needs.
What you need to keep in mind when choosing a bookmaker is that you want to make sure that they have a good reputation for taking care of their customers and for offering a safe and fair place to wager. You don’t want to be with a bookmaker that is known for having problematic payout procedures or for being dishonest about the odds of certain outcomes. For instance, many bookmakers will deliberately underwrite (that is, bet less than the total amount of money being wagered) to new customers to get them to place larger bets. This is called “crossing”, and it’s an illegal practice in most countries.
Step 2: Learn About How The Betting Exchanges Work
Now that you have your betting account set up with a bookmaker, you need to learn about how the betting exchanges work. The first thing you need to do is log in and create an account on a betting exchange. The advantage of using a betting exchange is that you don’t need to have a direct relationship with a bookmaker to place bets. The bookmakers on these platforms take care of the processing of bets and payouts. You can access this information with the account that you created once you log in.
The disadvantage of using a betting exchange is that you are putting your own money at risk by entering the sport and placing bets on it. If you’re not careful, you can lose a lot of money, especially if you place bets on highly popular and competitive games. The chances of you losing money are definitely there, but it’s also very likely that you’ll make money too. This is where the “matching” part comes in.
Step 3: Find A Good Match
Once you created an account on a betting exchange, you need to look for a good match. There are a few different ways to go about doing this. First, you can use the search bar at the top of the screen to search for events that you are interested in. Alternatively, you can click on the “calendar” link to view a list of upcoming events and select the ones that you are interested in.
One of the best things about the search bar is that you can search for different sports and/or leagues (such as football, baseball, and hockey) and get a nice list of games that you can choose from. You don’t have to be limited to just one sport; you can find a game from every league.
What you want to look for in a match is the chance of the game ending in a win for your team. This is called the “over/under”, and the total amount of money that you are willing to risk. For instance, if you think that the over/under for a certain game is $60, you might want to look for a game with an over/under of $100 because you feel that there is a better chance of you winning money on that game than on the one with the lower amount of money wagered. You can also use this to your advantage by looking for games with large over/unders because this means that there is more money to be made. For instance, if you’re lucky enough to find a $400 NCAAF football game, you’re going to be able to make a lot of money because there will be more money wagered on that game than on one where the total amount of money wagered is only $200.
Step 4: Place Your Bets
Once you found a game that you want to bet on, the next step is to place your bets. If you have a gambling problem, you can find help here. Make sure to read the terms and conditions of the bookmaker and the betting exchange thoroughly before placing a bet. This is very important because there are a lot of scammers out there who will try to trick you into placing erroneous bets. You can also use this chance to educate yourself about the odds of different outcomes. For instance, if you don’t know how to figure out the probability of getting a certain outcome (for example, the probability of getting a touchdown in the NFL), you can use this site to easily find these odds.
Step 5: Study The Results
The final step in making money with matched betting is to study the results of your wagers. You can either log in to your account and review your betting results or you can click on the “statistics” link on the top menu bar of the betting exchange to get detailed results. Either way, you need to make sure to study the results of your bets thoroughly before moving on to the next round of wagering. This is because there are a lot of people who make a living off of scamming others by trying to get them to continue betting after they win or lose. Some of these scammers will create fake accounts and use these to get people to keep playing after their initial bets; they will then move all of the money that they have stolen from the customers to another account that they control. This is called “farming”, and it’s a pretty common practice among scammers.
Fortunately, it is very easy to avoid this sort of thing with a bit of common sense. If you follow these simple steps, you’re going to have no trouble making money with matched betting. One of the major keys to being able to do this securely is to make sure that you are losing or winning based on the results of the game, and not based on some pre-existing condition that you find convenient at the time. For instance, many bookmakers will only pay out winners if the total amount of money wagered on a certain event exceeds a certain amount (this is called the “vig”, or “vigorish” for short). This is mostly inconvenient for people who want to bet on small amounts, since they have to wait until the betting pool reaches a certain size before they can be paid out. This sort of thing is easy for a professional gambler to take advantage of, but it’s very unlikely that you will ever encounter this type of scammer. The vast majority of the time, the results of your bets will be based on the outcome of the game, and not in some way that could be construed as fraudulent.
Overall
Overall, making money with matched betting is a very easy and straightforward process that anyone can follow. Be sure to take the time to learn how to do it correctly and you’re going to be able to enjoy the benefits of this relatively new type of investing. Make sure to follow the rules and you’ll be able to avoid all of the pitfalls that come with using online betting sites.