Matched betting is a technique that allows people to profit from the free bets and incentives offered by bookmakers. It involves placing bets on an event with both a traditional bookmaker and with a betting exchange, in a way that guarantees a profit regardless of the outcome of the event. This is typically done by using the free bets or incentives offered by the bookmakers as part of the bet, and by exploiting the difference in odds between the bookmaker and the betting exchange.
For example, suppose a bookmaker is offering a free bet of $10 to new customers who sign up and place a bet of at least $10. The bookmaker might offer odds of 2.0 (decimal odds) on a particular football match, while a betting exchange might offer odds of 2.2. In this case, a matched bettor could place a $10 bet on the match with the bookmaker using the free bet, and then place a $10 bet on the opposite outcome with the betting exchange. If the match ends in a draw, the bettor will lose the $10 bet with the bookmaker but will win $22 from the betting exchange, for a net profit of $12. If the match does not end in a draw, the bettor will win the $10 free bet from the bookmaker but will lose the $10 bet with the betting exchange, again for a net profit of $12.
Matched betting is generally considered to be a legal and legitimate way to make money, although it is important to be aware of and comply with any relevant laws and regulations. It can be a good way for people to earn some extra money on the side, but it is important to remember that it does involve placing bets and there is always a risk of losing money. It is also important to be aware of the potential for addiction and to gamble responsibly.
Overall, matched betting can be a useful technique for people who are looking to make some extra money, but it is important to approach it with caution and to be aware of the risks involved. So, if you’re interested in trying out matched betting, be sure to do your research and proceed with caution.