By using matched betting, it is possible to profit financially from free bet offers made by betting businesses. Almost all bookmakers advertise these promotions to persuade prospective customers to lay bets with them.
Matched betting is done to mitigate the risk associated with the “back bet” at the online bookmaker by placing a bet against yourself at the same odds at a betting exchange. You are, in other words, “matching” your wager.
Your first or “qualifying” real money wager will lead the bookmaker to give you the free bet. This is where the profit is generated.
You’ll be left with up to 95% of the free bet amount as profit for each matched bet. This is due to betting exchanges’ standard 5% commission on winners. Due to the slight discrepancy in odds between every website, you might suffer a minimal loss on the qualifying bet. But this is normal, then you can get your money back when you make the free bet.
But when mistakes are made, there will be risks. So, you must carefully follow the instructions and double-check everything. Free bets can take some time to process, so be patient and always follow the promotion rules.
Moreover, you should avoid being gubbed by the bookmakers. This occurs when a bookmaker places some sort of restriction on your betting account. In certain cases, bookies may close an account if it is not making them any money. This could happen more often as you expand your matched betting activity over time. Fortunately, you can lower the risk of being gubbed by mug betting to hide your betting patterns. Mug betting is a term for placing bets that don’t qualify for a bonus or promotion. They are pretty similar to qualifying bets, except they don’t ultimately offer a free bet.
You can make a living out of sports betting. Though, it’s not a practical goal if you’re just getting started in sports betting. Instead, focus on being a profitable and successful bettor and generating a decent side income from sports betting before reaching for larger goals. You can advance further, grow your bankroll, and turn it into a full-time job. It’s a challenging endeavor, but putting the time and effort into it is not impossible.