No Risk Matched Betting 2020
This is a bet type which allows bettors to cover all the outcomes of a bet but not like the double chance bet in which bettors can combine two options. In this bet type, bettors can place a bet and then place another bet that opposes the bet that they have just placed. How so? This article will explain in detail how the no risk matched betting works and how bettors can place this bet type.
Things to know about the No risk matched betting
- combines the lay bet and the back to remove the chances of loss
- No risk matched betting is otherwise known as matched betting
- No risk matched betting are done by bettors who make use of free bets
- The no risk matched betting is the tax free and legal
- The more time bettors spend no risk matched betting, the more money they can earn.
What is the no-risk matched betting? No risk matched betting defined
No risk matched betting is a bet type which bookies use as a strategy to attract new customers as well as to keep the old timers. It involves bookies giving out free bets or bonuses which bettors use to bet. This means that a bettor who uses the free bet, does not need to put in any money of his own. Hence, if he loses the bet, he does not have that much regret since the money was not his to start with! Even at that, the chances that a punter would lose a no risk matched bet is quite slim for reasons we will explain shortly.
How the No Risk Matched Betting Works
The whole idea behind the risk-free matched betting is that it requires the placing of two bets in order to have access to the free bet. One of the bets will be placed at a bookie’s (back bet) and the other would be placed at betting exchange (lay bet). Once the bets are over, the proceeds from it will be paid to the bettor. Although, the bettor usually doesn’t get to unlock all the free bet but he would be able to get the larger percentage of it unlocked. So you see, it not hard all, once you understand the pros and cons of it, you can start to play.
Some Terms in No Risk Betting Explained
The back bet
It is the first bet in the matched bet, placed at the sports bookies. This bet is use to trigger the free bet offered by the bookie. That is why clauses like, “bet $6 and get $27 free bet” are seen with some bookies in order to attract new customers to play with them. Most times, back bets are usually placed on the favorite teams to win. In order to place the bet, the bettor might need to put in his own money to trigger the free bet.
The lay bet
This is a second bet which is placed with at the betting exchange. It ensures that your first bet is not at risk in the sense that they allow you to bet against your back bet so even if you lose the back bet, you can win the lay bet. Lay bets are usually placed in favor of the underdogs to lose or draw, mostly input as “not win”.
A combination of both bets would result in an outcome that would be based on not chance, but a mathematical equation.
These are online betting sites which help to match bettors together such that bettors can act as a bookie buying (back bet) and selling (lay bet) bets. These exchanges unlike bookies, make their money by taking small percent of the wins as their own profit. This could range from between 1% to 5% of the profit depending on the betting exchange site.
Example of No risk matched betting
Let us assume that there is a basketball game between two fictitious teams, Red bulls and Black Hawks. Then a bookie puts up an advert that says, “Bet $7, get $30 free bet”. A new customer sees the offer and he takes it up. He bets $7 and he is given the free bet bonus of $30 dollars. Of course, he has no access to the money just yet, he has to take some do some things as explained below:
While placing the $7, he backed the Red bulls (the favorite team) to win. Then, he heads to a betting exchange and he lays the bet that the red bulls will not win. Indirectly, he has bet that the underdog team Black hawks would win or there would be a draw.
Back odds - 180
Lay odds – 1.82
It is very rare for one to find lay odds that would be lesser than the back odds, but it is easier to find lay and back odds that would be close to each other.
If back bet wins, you calculate with this formula;
(back odds – 1) * back stake – ( lay odds – 1) * lay stake
If the lay bet wins, you calculate your returns with the formula;
(I back stake) + lay stake * (1- commission)
We will now assume that a commission of 3% has been demanded by the betting exchange site.
After these calculations, the bettor would be able to decide whether the bet would get him profit, how much he expects to get if either the back bet or the lay bet wins, and how much he should bet at the betting exchange.
The calculation of the proceeds from the no risk matched betting could be quite tricky if not confusing if it is done manually, so, it is better to use the online calculator to do your calculations as it would be more accurate and less stressful.
It should be noted that it could be quite a bother to find odds that would be close to each other at the betting exchange and at the bookies. It is therefore recommended that bettors use the odds matcher to find compatible odds with ease.
Advantages and Disadvantages of the No Risk matched betting
As the name suggests, no risk matched betting is risk free. You cannot lose either way that is if you do it the right way. If you lose at the bookie’s you win at the betting exchange and if you lose at the betting exchange, you win at the bookies.
However, since there is no risk involved, bettors cannot get that much profit at once, it takes a lot of patience and determination to play the no risk betting. Also, if not handled carefully, the bettor might not gain anything at all. That is why there is an explanation on how to calculate the no risk matched bet. Also, there are online calculators to help calculate the outcome so you can decide if the bet will benefit you or not.
Best bookies that offer the best no risk matched betting deals
At this point, you should be able to have understood the meaning of no risk matched betting and what it entails; bettors leveraging on offers such as free bets, bonuses and promotions from bookies to bet. Seems too good to be true, so what is the catch? The catch is finding a bookie that would give you the best when it comes to odds and free bets. But even that is solved, if you need a bookie, all you need to do is to visit our sports betting comparison page to make you choice. There you can select which of the no risk matched bet offers fits your taste and expectation.
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