What is matched betting?
The aim of matched betting is to exploit online betting site promotions in a way that guarantees a profit. There are two elements to this. Firstly, you need to place bets to qualify for the promotion, and secondly, you need to place bets using the promotion. Typically these promotional bets will come in the form of free bets, bonus funds and/or boosted odds.
A
matched betting strategy
involves betting on a selection to win at the bookmaker’s site and then using a betting exchange bet against that outcome.
This is known as backing and laying a bet. Doing this means that you will have a winning bet in one place and a losing bet in another. For qualifying bets, your aim is to minimize your loss, whilst for promotional bets, you are aiming to optimize your profit.
Finding the best matched betting bets?
Minimizing your
matched betting risks
can be tricky. It requires some advanced calculations and in-depth knowledge of betting markets. Luckily, there are a few specialist matched betting websites that contain full details of the best matched betting offers, as well as a
matched betting calculator
that helps you find the very best bets to place.
Here is an example of how a
matched betting
offer can lock in a profit:
- A welcome offer at an online betting site is offering a $20 free bet if you bet $10 or more on a football game.
- The Moneyline on an upcoming NFL game has the Seattle Seahawks at +500 to beat the Kansas City Chiefs. Meanwhile, at a betting exchange, you can lay this bet at odds of +510.
- If you place a $10 bet with the bookmaker and lay it at the exchange with a stake of $9.84 you will make a loss of $.16 regardless of the outcome.
- This is because in the event of a Seahawks win you will win $50 at the bookmakers, but be liable for $50.18 at the exchange. Should the Chiefs win, you will lose $10 at the bookmaker's but win $9.84 at the betting exchange.
- But whilst the result is irrelevant, we have released the $20 free bet. The next step is to lock in a profit from it.
- In another NFL game, the New York Jets are +500 to beat the New England Patriots. If you use your $20 free bet on the Jets and lay it at +550 at an exchange using a stake of $15.38, you will make a profit of $15.38 regardless of who wins the game.
- In the event of a Jets win you will make a profit of $100 at the bookmakers, but lose $84.59 at the exchange. Whereas a Patriots victory will see you lose your free bet, but make a profit of $15.38 at the betting exchange. As with the qualifying bet, the result of the game is completely irrelevant to your profit.
And that is
matched betting explained. Of course, there are more elements to the strategy, such as laying parlay bets and exploiting odds boosts, but the main principle of backing and laying bets still applies.
Is matched betting possible in the United States?
This issue is dictated by the Federal Wire Act of 1961. This act makes it illegal for any betting to be conducted across state lines. In other words, all betting markets (including exchanges) have to be confined to a single state.
This severely limits the liquidity levels in each market as the pool of potential players is relatively small. In other words, a betting exchange would not have enough liquidity to be able to cover winning bets. As no legal betting exchanges are operating in the United States, which makes conventional matched betting impossible to complete in the United States.
In order for this situation to change, the Federal Wire Act of 1961 would need to either change or be abolished. Unfortunately, there are no existing plans for this to happen, making it extremely unlikely that matched betting will be an option in the near future.
What is an EV betting strategy?
The good news is that there is an excellent alternative to matched betting that can also help you to make regular profits from sports betting promotions. EV betting is a gambling strategy that exploits the best value bets in order to maximize profits.
The big question is, how
is value betting profitable? The answer lies in finding what is known as positive EV. Expected value (EV) refers to your average expected winnings from placing the same bet an infinite number of times at exactly the same odds. EV assesses the long-term value of a bet and eliminates factors such as luck that could impact short-term outcomes.
Bets with positive EVs will make profits in the long term, whereas bets with negative EVs will make you money in the long term.
The best way of explaining this principle is to use the example of a game of blackjack. If you receive a hand with a value of 19, there is an excellent positive EV if you stick and do not request another card. In a single game, you could lose, if the dealer gets 20 or 21. But over the long term, sticking on 19 will win you a lot more hands than it loses and therefore has a positive EV.
How can you profit from EV sports betting?
When they put together sports betting markets, oddsmakers factor in important issues such as form, injuries and weather conditions. This enables them to price the markets accurately. So they can make a profit, they also apply a small commission known as a ‘vig’ (or juice) to the odds. Obviously, this bias puts the odds in favor of the bookmaker and makes finding positive EV difficult. To overcome this, an EV betting strategy focuses on promotional offers that give you free or boosted bets - effectively skewing the EV towards the player and giving you a much better chance of finding a positive EV.
The problem is that EV betting requires a lot of research and a lot of sporting knowledge. To help you out, there are expert sites that specialize in EV betting and can help you find promotions and bets with positive EVs.
Once you have located bets with positive EV you need to work out the optimum stake. This requires you to consider the odds, the likelihood of the selection winning, plus any stake restrictions that apply to the promotion. Remember, because you are using free bets or enhanced odds, the EV is skewed in your favor.
If you like the sound of an EV betting strategy, and want to try it out, we highly recommend using a specialist site. These sites find the best sports betting promotions, give you the best positive EV bets and provide an
EV betting calculator
that works out the optimum stakes you need to place.
Matched betting football offers are not currently possible in the United States due to federal law prohibiting cross-state betting. However, EV betting does represent a great alternative and, if done correctly, it can enable you to make a steady profit.
You have probably read the above section on EV betting and concluded that the strategy is a very difficult one to implement. Whilst this is true to an extent, the presence of specialist EV betting sites can make life a lot easier for anyone using the strategy. That being said, you still need to be meticulous when placing your bets to ensure that everything is correct.
Overall, EV betting is probably the best alternative for US players who are unable to take advantage of matched betting football offers. Good luck!
This is a tricky issue due the federal laws relating to online betting. These laws are regularly subject to amendments and alterations. The best way of staying on top of this complex issue is to regularly read the guides and articles at CaptainGambling.com.
❓Can I make regular profits from EV betting?
EV betting is an alternative to matched betting that players in the US can use. In terms of making regular profits from EV betting, you first need to consider a wide range of factors and decide whether the strategy is something you can commit to. To help you make your decision, you can read more about EV betting and other strategies at CaptainGambling.com./faq-item]
Simply put, by reading the expert guides at CaptainGambling.com. These guides provide detailed reviews of the very best sports betting offers for both new and existing customers. We can highly recommend that you regularly read these articles so you can find the latest opportunities to use EV betting.
