Is Matched Betting Risk-Free?
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Matched betting involves placing bets on all outcomes of an event and removing the element of chance whilst receiving profit from advantageous welcome offers and promotions from bookmakers. But is matched betting risk-free?
In theory, the process of matched betting is 100% risk-free. If you know what you are doing and pay attention to what you are doing, you can’t do anything other than make money.
If you make errors, you can lose money, like all things financial. Still, with some careful steps, the chances of this are minimal.
Unlike gambling, where your results depend on the outcome of sporting fixtures, and despite matched betting being risk-free, these are pitfalls we need to avoid.
Matched Betting is Based on Mathematics, not Chance
When we carry out matched betting, we use simple mathematical equations to profit from various strategies.
When we start matched betting, these are the sign-up offers. As we get more experienced, we profit from reload offers and more advanced strategies, exploiting ways to make money from our bookmaker and betting exchange accounts.
Is Matched Betting Risk-Free?
Matched Betting Mistakes
There are ways to make mistakes with matched betting. Things can go wrong, but this can all be avoided with care and attention.
For example, you may not do the right things to trigger a promotion, e.g. you did not enter the correct promotional code when you signed up and deposited with the bookmaker, or you did not correctly place your qualifying bets, which would result in a minimal loss and waste your time and not result in any profit.
Some people may place the wrong bets or place their lay bet before their back bet (don’t do that!). Others may not be selecting offers with the best odds and fail to maximise an offer’s profitability (signing up to a matched betting site ensures this does not happen*).
Sites such as OddsMonkey and Profit Accumulator provide detailed guidance for every offer, step-by-step making it far less likely you will go wrong.
*See our guide to the best matched betting sites if you want to compare every paid and free service currently on offer. And don’t forget to sign up for a betting exchange such as Smarkets.
If you do not feel like you have the time to do matched betting yourself, then why not consider the Profit Squirrel Lifetime VIP Serice, where they do the heavy lifting for you for a one-off fee, more details are here.
These potential pitfalls can be avoided by slowing down with your matched betting, even if you have a bit of experience.
Think long and hard about the bets that you want to make. Make sure that you keep extensive notes about what you are doing.
Changing Betting Odds
Betting odds can change incredibly quickly, mainly when betting on the lay odds at the betting exchange. Always place your back bets before your lay bets and try to minimise the time between placing them (a multi-screen setup can help)
Before confirming any bet, ensure that the odds are correct. It’s possible to lose cash by betting at the wrong odds. Pay attention during the final confirmation, and be ready with your matched betting calculator.
You are more likely to see rapidly changing betting odds in the run-up to a game or race. If you place bets a few days before, this becomes less of an issue.
It is always best to move slowly and methodically when completing your offer, rather than rushing, causing you to need to walk back the problem.
Admittedly, these are rarer problems than you may think. After all, matched betting doesn’t involve gambling at all. You can’t lose.
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Issues With The Bookmaker or Exchange
When you are jumping into matched betting, the whole idea is to consistently take advantage of promotional offers, which may have you hopping from bookie to bookie.
It is essential that you only use online bookmakers fully licensed in the country you live in. Only sign up to legitimate bookmakers, and those with a known value offer to the matched bettor. You can find these offers through a reputable matched betting site (reviews).
The other option is to sign up to Profit Squirrel and their Lifetime VIP service, and let them do the heavy lifting for you (we review their service here).
Not Considering a Betting Exchanges Fee
Betting exchanges have fees (commission rates as a percentage). You will need to bear this in mind when placing your bets. Otherwise, you will be eating into your profit every time you place a lay bet.
When you sign up to the matched betting site, they often promote Smarkets betting exchange with a zero % offer, meaning you have no commission to pay.
Matched Betting Can Lead to Gambling?
When asked – Is matched betting risk-free? we are also asked – Is matched betting gambling?
No, matched betting is not gambling. Mistakes aside, and even with having the word ‘betting’ in the name, and despite signing up to multiple bookies for the technique, there is no gambling involved.
Despite this, some people have been pulled in by the allure of gambling due to matched betting. Of course, gambling addictions can end up being costly both emotionally and financially.
There is no particular reason why matched betting should make you start gambling. Still, suppose you have any addiction issues and feel you might be tempted to gamble? In that case, the only advice is to keep away from matched betting entirely, as you will constantly be placing bets!
Is Matched Betting Risk-Free? -
Final Thoughts
Is matched betting risk-free? With care and attention, matched betting is unlikely to result in a loss of money. It is very profitable and well worth it in 2022.
To minimise anything going wrong, we advise against more complicated strategies for beginners, such as Early Payout and Extra Places. In contrast, accumulator offers are more straightforward than they first appear and worth doing.
Matched betting isn’t a sprint; it is a marathon. Those who go slowly at the start are likely to see it through to the end. If you learn how to do it properly, the risk should be minimal. All you need to remember is to take your time when placing those bets. No matter how experienced you get, you need to think things through and take care.