Matched betting is a betting strategy that takes advantage of bets that offset each other to provide a zero risk outcome. With a zero risk outcome there are zero returns, so you maybe thinking “what’s the point?” However, the purpose is to place enough bets in order to cash out the Risk Free promotional bonuses offered by sport books. You are basically realising the risk free bonus into cash in your pocket!
In the past, Match Betting in the US would not have been possible, due to the Supreme Court ban on sports betting itself. But now, with sports betting legalized in many US States, matched betting is becoming increasingly popular. The Sports betting market is growing rapidly with many sports books (new and old) marketing fiercely to gain market share. You may have heard of FanDuel, DraftKings and PointsBet, all relatively new, tech driven sports book that are offering great sign up risk free bets.
This is fantastic for US sports bettors, who have been deprived of placing legal sports bets for so long. And with the momentum of the sports betting industry growing, Matched Betting is also taking off!
To learn more about more about Matched Betting, we outline the easy steps to follow, how it works, and the best sport books to use matched betting with.
How does Matched Betting work?
Before going through the steps of implementing match betting, let’s discuss how does it actually work. It’s important to understand the concept, because it will then help with implementing the steps to avoid any silly mistakes. The process is inherently not difficult, but if you don’t offset the risks properly you may actually lose money.
In knowing this, you may be thinking that this is a complicated and risky process. Far from it. Once you have read through our entire guide, you will immediately understand how easy it is. But with all forms of betting, be disciplined and careful.
In simplistic terms, matched betting is placing several bets that effectively offset each other. So if you lose on one bet, you will win on the other bet.
For example: you place a bet on the LA Lakers to win, but at the same time, you also place a bet on them to lose. One of these bets will produce a win, whilst the other will be a loss. The overall outcome is that you have broken even. You have overall neither won or loss, and break-even.
You may be asking again, “What’s the point of doing this, if I always break-even?” The reason is because you need to place a number of bets to cash out the bonus (the extra credit) given to you in your sports book account. Sports book providers require a wager requirement to be met before bettors can cash out their deposits. They apply these terms and conditions to effectively prevent bettors running away with free money.
Requirements for Matched Betting
There are a few requirements that you normally would need to implement matched betting.
- At least two sports betting accounts
It’s often misunderstood why you would need more than one sports betting account. The reason is, if you were to attempt to place matched betting with the one sports book provider, they will ban you immediately and potentially confiscate your deposit. Sports book providers are clued up on matched betting, and therefore you should not implement matched betting with just one sports book. Establish two or more sports betting accounts, and you can then safely place bets that offset each other. Yes, one account might lose more than the other, but in aggregate you will break even.
- The sports book allows the bonus to be cashed out.
Some sports book will give a bonus, but WON’T allow you to cash it out. They will only allow you to play or cash out with the winnings, and NOT the actual bonus itself. Not many sport books place this limitation, however some do. If they do, then don’t sign up and create an account with them for the purpose of match betting. Match betting requires that ability of the bettor to cash out the sports book bonus.
This goes without saying for all forms of gambling. You need to have discipline and the perseverance to stick to the strategy. Often, I hear of bettors who have become greedy, and want to win that extra bit. These bettors gradually expose themselves to more and more risk, with the hope of winning more. Of course, the chances of winning more also opens itself to losing more. If you really want to implement matched betting successfully, then stick to the simple strategy of negating your risk to zero with offsetting bets.
- Know the Wagering Requirements
As mentioned earlier, sports books aren’t going to give you free promotional bonuses that can be cashed in immediately. They want you to place a number of bets before the bonus can be cashed out. These betting requirements vary from sports book to sports book, and you need to ensure what type of bets qualify to meet waging requirements. Always check with the terms and conditions of the sports book provider to know what they are.
Easy Steps to Matched Betting in the US
Now that you know what is needed, for US bettors you can easily follow the below steps:
- Sign up to two or more sports books betting account that offer promotional sports book bonuses.
- Explore the odds that are being offered by the sports books that you have signed up to.
- Find a sports bet that is covered by two or more sport books and that it qualify for the wagering requirements.
- Place two bets each on opposing outcomes.
- Repeat the process and accumulate sufficient place bets to cash out the bonus.
Is Matched Betting legal in the US?
Matched betting is perfectly legal in the US. Sports books are Matched betting is one of the best sports betting techniques or strategies to earn free money. It’s 100% legal and a great way to make money with online sports betting.
The legality of sports betting in your State is a different story. Some States have legalised sports betting while others have not. This, of course, will dictate whether of not, you can place a bet (let alone a matched bet).
As a side note, matched betting was supposedly formulated after a UK bettor had lost a significant amount of money with a sports book He devised Matched Betting as a way to win back his money.
I have been told I don’t need two sport betting accounts, is this true?
In countries whereby there are betting platforms which facilitate bets between offerers and takers, you can technically operate with only one account. The reason is because you are not betting against the platform. The platform merely allows for all bettors to come together and place bets with each other. In this scenario, it doesn’t matter that you have placed a bet with one person, and an offsetting bet with another person. It is an open market platform. An example of a platform like this, is BetFair. BetFair charges an administration fee for every bet that is placed. BetFair does not accept any bets, but provided the platform and charges an administration fee for using it.
In the US, platforms that facilitate bets is illegal. You will therefore be unable to find any betting platform facilitator if you reside in the US, unless you use a VPN. Is this illegal? No, it is NOT illegal. As a bettor, you are permitted to place a bet BUT it is the provider that must be compliant. And therefore, if any laws are broken, it is the sports book that will be in trouble, NOT you.
Therefore, if you want to open only one account. You can, but only via a VPN and opening an account at a betting platform such as BetFair.