When people bet on sports, there is a method that lets them make money no matter how the game turns out. “Matched betting” is the name of this smart method that uses free bet offers to make sure you win. We’ll talk about matched betting in detail in this guide. It will include how it works, whether it’s legal, and what risks it might have. We’ll also talk about “each way” betting, which is a similar way to bet and is popular in horse racing and golf. When it comes to sports like horse racing or golf, you can easily earn big using Orbit Exchange.
Read more: Which sports are available on Orbit Exchange?
What is Matched Betting?
When you bet on sports, matched betting is a strategy that is based on math instead of luck. It means betting on all possible results of an event in order to make money, and most of the time, people do this by using free bet offers from bookmakers. This approach takes away the element of risk and replaces it with a methodical process that doesn’t involve any risk.
The Basics of Matched Betting
The core principles of matched betting involve the following steps:
- Find a Free Bet Offer: This usually includes sign-up bonuses or other promotional offers by bookmakers.
- Fulfill the Criteria: To claim the free bet, you may need to place another bet first, which serves as a qualifying bet.
- Take the Free Bet: Once you qualify, you can use the free bet on a specific outcome, such as “England to win.”
- Find the Opposite Bet: On a betting exchange, identify the opposing outcome, like “England not to win.”
- Place the Opposite Bet: Bet an amount that cancels out the potential loss of your initial bet.
- Wait for the Event to Conclude: Regardless of the event’s outcome, you’ll win money either with the bookmaker or on the exchange.
Legality and Ethics
When it comes to the law, matched betting isn’t clear. While it’s not necessarily illegal, many bookies’ terms and conditions say that you can’t do it. Bettors may think it’s dishonest to take advantage of bonus deals and other loopholes. Due to the possible effects on their bottom lines, bookmakers actively fight matched betting.
What is Matched Betting Bonus Abuse?
It is a form of bonus abuse to use free or bonus bets for matched betting. However, not all bonus abuse is the same as matched bets. Abusing bonuses can include a lot of different things, such as using no-deposit cash bonuses at online casinos, free spins on slot machines, or free bingo games. Scammers who are very good at what they do have even come up with ways to get around the rollover requirements that come with taking out free bonuses.
Difference Between Matched Betting and Arbitrage?
Matched betting and arbitrage share some similarities, but they are distinct strategies. Matched betting capitalizes on bookmakers’ free bet offers, while arbitrage relies on calculating regular odds. Bookmakers explicitly prohibit matched betting, while they handle arbitrage on a case-by-case basis. Detecting arbitrage is more challenging, as bettor and player conduct related to bonus offers are meticulously scrutinized.
Read more: How to bet with your own odds on Orbit Exchange?
Can You Lose Money with Matched Betting?
Matched betting is meant to reduce risk as much as possible. The only way to lose money is to make a mistake in the math. However, betting companies and bookmakers always lose money when matched betting happens. This is why they don’t allow it on their sites. In order to stop this, operators use high-tech iGaming fraud detection tools. These tools are like machine learning and algorithms, to find and stop bonus abuse, which includes matched betting.
The Legality of Matched Betting
Matched betting is not illegal, but it often contravenes online betting operators’ terms and conditions. Engaging in matched betting can result in consequences like being unable to cash out or facing accusations of fraud. Matched betting might not be explicitly mentioned in an operator’s rules or terms. But the methods employed in matched betting, such as multi-accounting, the use of stolen credentials, and bonus abuse, are usually addressed in the terms and conditions.
How to use Orbit Exchange for Match Betting
Orbit Betting Exchange is a betting exchange platform that allows users to bet against each other, rather than against the bookmaker. This makes it ideal for matched betting. It allows users to place back and lay bets on the same event to guarantee a profit, regardless of the outcome.
To use orbit x exchange for matched betting, you will first need to create an account and deposit funds. Once you have done this, you can start placing back and lay bets on events that you have identified as having value.
For example, let’s say that you have found a bookmaker that is offering odds of 2.00 on a particular team to win a match. You can then place a back bet on this team at odds of 2.00 on Orbit Exchange. You will also need to place a lay bet on the opposing team at odds. Place on odds that are slightly lower than 2.00. This will ensure that you make a profit, regardless of which team wins the match.
The amount of profit that you make from matched betting will vary depending on the odds that you are able to get on your back and lay bets. However, it is possible to make a consistent profit from matched betting over time, with some users earning hundreds or even thousands of pounds per month.
Orbit Exchange matched betting steps
Here is a step-by-step guide on how to use Orbit Exchange for matched betting:
- Create an account on Orbit Exchange Betfair and deposit funds.
- Identify a betting opportunity with value. This could be a bookmaker that is offering odds that are higher than the fair odds for a particular event.
- Place a back bet on the event at the bookmaker.
- Place a lay bet on the opposing team at orbit x exchange at odds that are slightly lower than the odds that you got on your back bet.
- Wait for the event to finish and collect your winnings.
It is important to note that matched betting is not a get-rich-quick scheme. It takes time and effort to learn how to do it properly. However, it can be a very profitable way to make money from sports betting.
Read more: Orbit exchange commission
Each Way Betting in Matched Betting
While matched betting is the primary focus for many, each way betting is a valuable strategy often used in the world of sports betting. In this section, we will delve into what each way betting entails and how it complements matched betting.
What Does Each Way Mean?
In traditional betting, each way betting is a method designed to increase your chances of winning while accepting a reduced payout. Unlike a standard win bet, an each way bet provides a safety net. This is done by paying out to multiple positions, often the first 2, 3, or 4 places, depending on the bookmaker and the event.
The Mechanics of Each Way Betting
The odds change when you choose a “each way” bet. This means that if you bet on a horse to win, the odds could be 10/1. If that horse comes in second or third, though, the odds are often cut to 1/4 or 1/5 of what they were before. It means that you might not win as much, but you have a better chance of winning something, even if your pick doesn’t come in first.
Ideal Sports for Each Way Betting
Each way betting is commonly used in horse racing and golf, where there are multiple competitors in the field. It’s less suitable for sports with only two teams competing, such as football, as the potential outcomes are limited.
Placing an Each Way Bet
Placing an each way bet is straightforward and typically follows these steps:
- Visit the bookmaker’s website and locate the desired market for your bet.
- Create a betting slip as you would for a standard win bet.
- Most betting platforms provide an option to switch from a win bet to an each way bet.
- Your betting slip will display the number of places the bookmaker will pay out to, which can vary depending on the sport and the event.
How Each Way Bets Are Paid
There are two parts to an each-way bet: the win bet and the place bet. Both parts of your bet will pay out if the horse or player you chose wins. If they only place, like second or third, you’ll lose the win part of your bet, but the place part will pay out.
The odds for the place part of your bet are usually a small part of the chances for the win part. You are given these odds when you place your bet. For example, if you bet £10 on a horse with odds of 20/1 and the bookmaker gives you 1/4 chances for a top-three finish, your odds for coming in third are 5/1. Your return will be £60 if your pick wins, giving you a profit of £40.
Each Way Betting in Matched Betting
When incorporating each way betting into matched betting, it’s essential to understand that an each way bet comprises both a win and a place bet. This requires you to lay both of these bets when matched betting. Laying the win bet follows the standard matched betting process. However, for the place bet, you need to calculate the odds the bookmaker is offering for the place and then locate the corresponding place market on a betting exchange. By correctly laying both bets, you can guarantee a profit regardless of the outcome, provided the conditions are met.
Read more: How to place lay bet on Orbit Exchange?
A Practical Example
Suppose you place a £10 each way bet on a horse with odds of 8/1 and place terms of 1/4 for the top 3 positions. To ensure a profit, you would lay the win bet on the exchange at 9.5 and the place bet at 2.2. In this scenario, no matter where the horse finishes, you’ll secure a profit of £11.51.
Conclusion
In conclusion, matched betting is a smart way to bet on sports that uses free bets to make sure you win. Even though there are some legal questions, it’s important to know the rules that bookies set. Each-way betting, on the other hand, is an extra method used in sports like golf and horse racing. It gives you a safety net and the chance to win even if your pick doesn’t win. Understanding and getting good at both of these methods will help you bet on sports with confidence and make money.
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