Betting is a popular activity for many people in different countries. It is a huge industry that has surged in popularity with the advent of online betting agencies, online betting, and micro-betting opportunities in sports like Cricket.
Online gambling can cause a great many social problems, but there are some betting activities that have been developed to offset losses as much as possible and deliver small amounts of profit to bettors over time. These betting techniques are generally based on mathematical equations. One such technique is called Matched Betting, but what is this form of betting and how does it work?
How Does Matched Betting Work?
Matched betting is also known as back betting, double betting, or lay bet matching. It is a betting technique whereby a better takes advantage of free bet offers from bookmakers to guarantee themselves a profit, even in the case of loss. In both a win and loss situation, more than 60% of the stake is returned, making it a popular method of betting. Though many individual bookmakers place restrictions on the money placed through free bet offers, it is legal in the industry.
In essence, a free bet offer is identified with a bookmaker and a bet amount is placed at a betting agency for the opposite result in order to offset any loss. The methods by which this happens are quite technical and mathematically-based, so there are numerous automatic software packages and website services that will scan betting markets to identify matched betting opportunities that represent an acceptable net profit result. This form of betting can also be done manually if the bettor has experience at comparing betting markets and a high degree of numeracy. There are also online calculators that can take some of the headache out of determining the net profitability of bets.
The Risks with This Type of Betting
Though the practice of this form of betting is legal, many agencies and bookmakers place restrictions on it to try and prevent too much profit loss. One thing to remember is that betting exchanges will charge a commission on the winnings, so the typically smaller profits made via this form of betting will be further limited.
Many bookmakers also use tracking software to keep track of bettors who create accounts with many bookmakers in order to make larger profits from matched betting activities, but there is some debate as to the legality of such data tracking and sharing methods.
So, if you’ve ever wanted to know about matched betting and how it works, you now have a much better idea of the methods, benefits, and risks involved.