What is Match Betting?
Before we look into using matched betting to your advantage, we first need to understand what it is. To put it simply, matched betting is a technique used by bettors to generate a profit from free bets and other promotions offered by sportsbooks.
Players cover all possible outcomes of a sporting event or game by placing multiple wagers to qualify for sports betting bonuses and offers. Once they can claim a free bet, bettors repeat the process, utilizing sportsbook promotions to make a profit.
Matched betting is less about taking risks and relying on random chance. Instead, the system uses mathematical equations to make a consistent income from each free bet and bonus you claim. Therefore, many bettors consider matched betting as risk-free.
Placing Match Bets
At first glance, matched betting can seem incredibly confusing and advanced. We are here to debunk that myth and reassure you that it is not! Let’s start by looking into the two primary wagers associated with match betting; “Back Bets” and “Lay Bets.”
Back Betting
This wager is the more traditional form of betting, in which you predict for an outcome to come true, such as a particular NFL team to win the Super Bowl. If your prediction is correct, you will win your wager and a nice profit or a potential return. However, if you guess wrong, you will lose your bet, which is the liability.
When matched betting, you place back bets with sportsbooks that offer free bets or other promotions or with sites with which you already have a bonus.
Lay Betting
A lay bet is a wager against a particular outcome in which you predict that something will not happen. For example, if you lay a specific NBA team to win the Playoffs, your wager will be successful if they lose or draw.
At online betting exchanges, like Betfair, you can match with other players who wish to place back bets, who will act as the traditional bettor. In this circumstance, you work as the sportsbook by placing lay bets.
Your lay bet will be successful if the predicted outcome does not happen, and you will win the back bet.
Matched betting is effective as it uses lay bets to cancel out the back bet’s risk. You removed all risk by placing both a back bet and a lay bet against the same outcome. Therefore, with every outcome covered, you cannot lose your wager.
How to Place a Matched Bet at a US Sportsbook
So, are you ready and raring to place a matched bet of your own? Follow our simple step-by-step guide to be up and running within minutes.
- Locate a US sportsbook and free bet offer you are eligible to claim.
- Determine an outcome to back and lay (for example, the Steelers to win).
- Place your qualifying matched bet.
- Sign into a betting exchange and place the corresponding wager.
- Place your next matched bet using your free bet for the back bet.
Legal Match Betting in the US
Online gambling is legal in the US thanks to the overturning of PASPA in 2018. Now, depending on your state, you can wager on all your favorite sports and markets online at legal US sportsbooks. As such, matched betting is also legal in the US.
