Matched betting
Matched betting is a strategy used by individuals to profit from the free bet offers and promotions provided by bookmakers or betting exchanges. It is a method that takes advantage of the difference in odds between the bookmaker and the betting exchange to ensure a profit regardless of the outcome of a particular event.
Here's a step-by-step guide to matched betting:
1. Sign up with a bookmaker: Choose a reputable bookmaker that offers free bet promotions to new customers. Create an account and make an initial deposit to qualify for the free bet.
2. Find a betting exchange: Register with a reliable betting exchange such as Betfair or Smarkets. These platforms allow you to place bets against other users rather than against the bookmaker.
3. Identify a suitable event: Look for a sporting event with two possible outcomes (e.g., a tennis match with player A vs. player B).
4. Place the qualifying bet: Use your own funds to place a bet on one outcome with the bookmaker. For example, bet on player A to win. Make sure the odds are close between the bookmaker and the exchange.
5. Lay the bet on the exchange: Place a bet against the outcome you chose in step 4. In this case, bet on player A not to win. This "lay" bet effectively cancels out your initial bet.
6. Receive the free bet: Once your qualifying bet is settled, the bookmaker will credit your account with the free bet.
7. Repeat the process: Use the free bet to place a bet on the opposite outcome (e.g., player B to win) with the bookmaker. Again, lay the bet on the exchange to offset any potential loss.
8. Calculate the profit: Regardless of the outcome, you will have made a profit from the free bet. Use a matched betting calculator to determine the exact amount to bet and lay to maximize your profit.
9. Repeat with other bookmakers: Once you've completed the process with one bookmaker, move on to the next one to take advantage of their free bet offers.
It's important to note that matched betting requires careful attention to detail, and it's crucial to understand the process fully before getting started. Additionally, it may not be suitable for everyone, and there can be risks involved. It's always recommended to do thorough research, consult matched betting resources, and consider any legal and ethical implications in your jurisdiction.
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