Matched betting is a form of arbitrage that lets you win money on sports betting without any risk involved. And before you ask, no, it’s not gambling. We will not be relying on chance here.
It may sound intimidating if you’re new to the concept, but once you get the basics, it’s not that advanced. And I’ll do my best to explain it as straightforwardly as possible so you can start immediately.
What is Live Event Matched Betting?
Matched betting is basically a technique to guarantee a profit from free bet promotions offered by bookmakers. I know it sounds like magic, but it’s just math.
Live events matched betting means we place our matched bet while the game is in play.
So, to do this, we will place an in-play bet at a bookmaker, and then we will lay the same bet at an exchange to qualify for a free bet.
So How Does It Work?
Imagine you’re watching a live basketball game. Team A is playing against Team B. Now, instead of placing a bet on just one team to win, you place two bets:
- A bet for Team A to win (this is called the “back” bet).
- A bet against Team A winning (this is the “lay” bet).
By doing this, you’ve essentially covered all possible outcomes of the game. No matter who wins, one of your bets will come through.
IMPORTANT: To avoid any risks, never place your lay bet first. Make sure your back bet at the bookie gets confirmed before you place your lay bet. After that, immediately place your lay bet.
Why Live Events?
“But why would I do matched betting on live events?” you might ask. Live events offer dynamic odds. This means the odds can change rapidly based on what’s happening in the game. It also means you can find great value bets, as it’s more challenging for the bookies to set the correct odds on live events than before the match starts.
- Real-time Decisions: You can make decisions based on the game’s current state. Is a key player injured? Has one team scored unexpectedly? These real-time events can be used to your advantage.
- Dynamic Odds: As mentioned, odds during live events can change rapidly. This can be a goldmine for those who know how to leverage it.
What You’ll Need
- A Betting Exchange Account: This is where you’ll place your lay bets. You can find the best betting exchanges here.
- A Regular Bookmaker Account: For your back bets. Here is a list of bookmakers you can sign up with.
- A Matched Betting Calculator: To help you determine the right amounts to bet. OddsJam has one available on their website.
Steps to Follow
- Watch the Game: Keep an eye on the live event and monitor the odds.
- Place Your Back Bet: Do this on the regular bookmaker’s site.
- Place Your Lay Bet: Quickly head over to the betting exchange and place your lay bet.
- Monitor and Adjust: As the game progresses, keep an eye on the odds. If they shift in a favorable direction, consider placing additional matched bets.