Is Matched Betting Risk Free?

Have you been considering Matched Betting, but worried that you’re going to be risking your hard-earned money? “Is Matched Betting Risk Free?” “Does it really work?”

You don’t have to worry, because Matched Betting is completely risk free. Let me explain why.

What is Matched Betting? An Overview

Matched betting, often referred to as double betting or back/lay betting, is a betting strategy that leverages free bets and incentives offered by bookmakers to place bets on all possible outcomes of an event. We’ve written a complete guide here.

The unique feature of matched betting is that it involves zero risk of losing money if done correctly. It’s not about predicting the outcome; instead, it’s about covering all possible scenarios to ensure a profit, no matter the result.

In the financial and betting worlds, a ‘risk-free’ proposition sounds almost too good to be true. In fact, it doesn’t exist for the most part. Look what Talksport have to say about matched betting.

It essentially means an opportunity where you can’t lose. It’s a term often met with skepticism, and rightly so, as we’ve been taught that there’s no such thing as a free lunch.

However, matched betting is often touted as a rare instance of a risk-free opportunity due to the unique mechanics of how it works. But is it truly risk-free? This article is a deep-dive into this subject, as we uncover the truth.

Is Matched Betting really Risk Free?

When you complete a Matched Bet, you are covering all outcomes of a result. If you cover all outcomes, you simply cannot lose money. Let’s explain how it works, with a coin toss.

Someone in the street has offered you a proposition. Place a bet with them, and they will give you a £10 token to be used on another bet with them. You take them up on the offer.

However, you aren’t going to be gambling. You’re going to make the exact same bet with your friend.

You will place a £10 bet on the coin being heads, but you will also bet your friend £10 that the coin won’t be heads.

You have eliminated all risk, but you’re not finished yet. You will return to the shady coin toss man, doing the same with your free bet. Depending on Heads or Tails, you’ll either get your profits back from the man with the coin, or your friend.

£10 profit. Easy as that.

This is how Matched Betting is Risk Free, except the man with the coin is the bookmaker. Your friend, will be Smarkets or Betfair.

When you follow the guides, there is absolutely no risk. The only time that risk comes into play, is with potential human error.

For example, if you were to bet that it lands on heads, but then you bet with your friend that it doesn’t land on tails… you can lose both scenarios.

The Risks of Matched Betting

I do consider Matched Betting to be completely risk free. The process is entirely risk free, with the only time that it can go wrong is due to Human error. Let me explain why.

Human Error and Misunderstanding

While matched betting is theoretically risk-free, it is not immune to potential pitfalls. The most common among these are mistakes stemming from human error and misunderstanding of the betting process or terms.

Mistakes in Placing Bets

Matched betting requires careful calculation of stakes and a clear understanding of how to place both back and lay bets. Mistakes can be as simple as entering the wrong stake or as complex as misinterpreting the odds.

For instance, a bettor might accidentally place a back bet and lay bet on the same platform or might miscalculate the stake needed to balance the back and lay bets. These errors can turn a risk-free bet into a risky one and lead to unexpected losses.

Misunderstanding Odds and Betting Terms

Understanding odds and betting terms is crucial to successful matched betting. Misinterpreting odds can lead to placing unbalanced back and lay bets, which won’t cover all outcomes equally and could result in a loss.

Similarly, not understanding the terms and conditions of a free bet or bonus can also lead to mistakes. For example, a free bet might only be applicable for certain types of bets or events, or it might require a certain minimum odds for the bet to be valid.

Failing to understand and follow these terms can result in the free bet being invalidated, potentially leading to losses.

Bookmakers Ever-Changing Policies & Terms

Bookmakers are businesses that need to maintain profitability. As such, they employ various strategies to manage bettors who consistently profit from their promotions, such as those engaging in matched betting.

This can lead to changes in policies that can impact the profitability and feasibility of matched betting.

1. Account Gubbing and Limitations“Gubbing” is a term used in the betting industry to describe the act of a bookmaker restricting or closing a bettor’s account due to the bettor consistently winning or only betting when there is a promotion or free bet. This is a common risk for matched bettors, as they often fall into this category.When an account is gubbed, the bookmaker might prevent the bettor from participating in promotions or limit the amount they can bet, which can significantly impact the potential profits from matched betting.
2. Changes in Terms and Conditions of Bonuses and Free BetsBookmakers frequently update the terms and conditions of their bonuses and free bets. These changes can include reducing the value of the free bet, increasing the odds required for the free bet to be valid, or adding wagering requirements (where you need to bet a certain amount before you can withdraw your winnings).These changes can decrease the profitability of matched betting or increase the complexity and time required to complete a matched bet. It’s crucial for matched bettors to stay updated with these changes and adapt their strategies accordingly.

How to Avoid Risk in Matched Betting (Simple Steps)

If you are concerned that you might be doing the wrong thing when Matched Betting, there are some easy steps you can follow in order to avoid risk. This will increase your productivity and profits.

Education and Training Materials

Learning Matched betting from scratch isn’t a simple process. It does require patience, and you might find yourself reading the same documents over and over again. That’s completely fine, as it means you’re putting the work in.

1. Importance of Understanding the Process FullyUnderstanding the process of matched betting is crucial for minimizing risks. This includes knowing how to calculate and place back and lay bets, understanding how odds work, and being aware of the terms and conditions associated with free bets and bonuses. A thorough understanding of these elements helps avoid common mistakes that could lead to losses.
2. Available Resources for Learning Matched BettingFortunately, there are numerous resources available for those interested in learning about matched betting. These include online tutorials, blogs, forums, and even dedicated matched betting websites that provide step-by-step guides and calculators to help you place your bets correctly. Some of these resources are free, while others may require a subscription. It’s important to invest time in learning and understanding the process before diving into matched betting to ensure you’re well-equipped to navigate its challenges and mitigate potential risks.

Tools & Software

If you don’t have access to the correct education and training material, you can look towards specialised software which is built for beginners. These will be interactive guides which you can follow, software that places the correct bets for you & spreadsheets that automatically populate your bet history.

It’s like having your own personal assistant, all you need to do is bankroll the thing!

Subscribe to a Service

You can join a service such as Oddsmonkey for £20 per month. The tools alone are worth this.

In addition to fantastic tools, you will literally be spoon-fed the instructions for completing every single offer. This removes further risk, as they ensure you are completing the offers in the correct way.

Remember, they will provide you every single matched betting offers that you will need to place, and their software even advises which qualifying bet and free bets to complete.

You can still get hold of a free trial.

Conclusion: Is Matched Betting Risk Free?

Matched Betting is risk free, providing this is performed correctly. If you make any mistake, laying the wrong thing on the betting exchanges etc, placing the wrong lay bet, you can get into trouble and potentially lose money.

If you can follow guides and tutorials, you will be able to reduce any risk and ensure you complete every single matched betting offer without risk.