In order to be successful a successful bettor, you would need to learn how to employ various strategies. With the right tactics and the right situations, you could be looking at long term stable profits.
There are several types of strategies. And while some work better than others, it is up to you – the individual, to know when and how to apply them effectively. Today, we will look at one particular strategy, namely matched betting, and explore the ways in which you can master it.
Some strategies, progressive betting for one, are purely profit-based. With such approaches, you have the potential to win a lot of money, but they’re also incredibly risky. One wrong move and you could lose more money than you could afford.
For those of you that appreciate a more subdued approach, matched betting would be a perfect match. This is a low-risk medium-yield strategy. It’s a great option for beginners, as it would help them learn a thing a two about betting and how it works without losing too much money.
What Is Matched Betting?
Before we get into matched betting tips, we are going to tell you a little bit about what it is. Matched betting is similar to arbitrage betting or hedging. In the sense that you would need to make multiple bets on different outcomes of the same event. This way, whatever happens, you will make a profit. Matched betting is unique as it involves taking advantage of the bonuses a bookmaker gives you, further reducing the risk, as you aren’t staking your own money. This strategy would require you to back one option, and lay the same option.
Top Matched Betting Tips
Now that you have a basic idea of what it is, let’s get into the top matched betting tips to help you maximize your profits.
1. Learn how to read odds
Beaning able to read odds and what they mean is integral to be able to use a matched betting strategy. Just with the odds, you will need to be able to calculate the probability of the outcome as well as your expected profits. This is because you will be betting on different outcomes. Therefore, you will need to know how much you would need to stake so that the expected profits are either more than or at least equal to the loss.
2. Learn about different types of bets
For this strategy, learning terminology would be extremely helpful. You would need to back one bet with a bookie, and lay the same bet with a betting exchange. When you back a bet, you wager that an event is going to happen. Liverpool is going to win the Champions League final, for instance. You do this with any regular old bookmaker. At a betting exchange, you need to lay the same option. Liverpool is not going to win the Champions League finals.
3. Sign up to a betting exchange
Like we mentioned before, you would be required to lay a bet for this strategy. You can only do this with a betting exchange, and not with a regular online sportsbook.
4. Create accounts with multiple bookies
Matched betting makes use of bonuses in order to reduce the amount of risk involved. What’s the best way to accumulate a bunch of bonuses? Multiple accounts of course. You will be given a deposit bonus as soon as you sign up and not to mention regular free bets if you’re a loyal customer.
5. Set up a separate bank account
Setting up a separate account for matched betting is a good idea. Although it is recommende you do this even if you don’t employ any strategies. It is a good way of budgeting yourself and also ensuring that your betting activities don’t bleed into other aspects of your life.
6. Don’t be afraid to experiment
There are so many types of betting markets out there. Try not to stick only to the conventional 1×2 type. Feel free to experiment with all of them, see how well they gel with matched betting. Find your niche.
7. Keep a track of everything
Keep a track of all the bets that you used the matched betting strategy on. That way, you will be able to see how great this tactic truly is. You would also be able to know what works and what doesn’t, where you’re going wrong, what you did right and so on.
8. Be patient
Matched betting may be relatively easy. However, don’t expect to master it right from the get-go. It takes time and maybe a couple of tries before you get the hang of it. It is more than just backing one random option and laying another. You would need to know when do bet, and exactly how much to bet. This takes practice, and rushing things will not help.
9. Check your email
This may sound a little odd, but do not forget to regularly check your inbox, especially that promotional tab. This is where you can find the bonuses from every sportsbook you’ve signup up for all in one place. A matched betting goldmine.