Is Matched Betting Grinding to a Halt?
It’s clear to see, there has been a definite rise in popularity of Matched Betting in the last 5 years. It used to be like a ‘secret handshake club’, where only elite members of the inner circle would discuss ways to guarantee profits.
As there were so few people exploiting these bonuses in the past, the bookmakers would pass it off, considering the customers as lucky.
However, in 2017, there is a greater number of people Matched Betting, I would say around 75,000 U.K residents at a guess. The main issue for us now is that technology has advanced, meaning bookmakers can keep track of us much easier, checking exactly what we are betting on etc.
The promotions are getting harder to complete more recently, I will explain why below.
Bookmakers are already aware Matched Betting exists, this correlates with the fact that it doesn’t take a lot of ‘value bets’ for your accounts to be limited. They have the technology now to monitor the back and lay price too, meaning they will be able to see when you are taking close matches.
Matched Betting can have many negative effects on bookmakers.
The main problem is promotions.
The bookmakers will offer less promotions, or even offer promotions which have nasty T&C’s, meaning even the most advanced members won’t be able to profit.
Bookmakers will always offer free bets, but recently they have tightened up, William Hill changing their accumulator refund from £50, to £10, being one of these examples.
Gubbings are happening more and more often, with Free Bets being harder and harder to turn into withdrawable cash!
When has Matched Betting been publicised?
Just a few weeks ago, there was an article published from Geoff Banks bookmakers. This was very interesting.
Geoff banks has lodged an official complaint to the Gambling Commission, requesting that the ‘bonus culture’ in modern betting, should be banned.
I don’t approve of free bets or bonus offers. From a gambling perspective I think it’s an unfair inducement to gamble,”
But to open any new accounts these days you have to offer these inducementsHe goes on to add his website offers a sign up bonus to compete with other bookmakers, as that’s the only way to obtain new punters.
However, he was suspicious about his traffic when one day his traffic count went from the average 10 a day, to over 1000, with 400 registrations. Upon checking his analytics, he could see it came from a Matched Betting site.
He then went ahead and registered to the Matched Betting site, where he noticed there was a full instruction guide on how to make a profit, from his offers. He obviously didn’t like it!
He also spotted that some of the members were discussing multi-accounting, which is why he raised this complaint. He then finished his rant by slating us on Twitter!
Will Matched Betting be affected by this?
In all honesty, probably not!
Geoff Banks has had a public outburst… but it’s not even a good bookmaker! I highly doubt there will be any Matched Betting activities on his website, other than the sign up bonus.
I am actually surprised he has any punters, as they can get better odds & a modern looking interface elsewhere.
They offer a 5% rebate on losses, but the odds are so poor you will take a 9-10% qualifying loss by placing a bet. Note, if you take a 10% loss and the bet wins, you wouldn’t get the rebate as your account would be in ‘profit’
888Sport Create a Matched Betting Guide!
Matched betting is the practice of employing differing offers from multiple bookmakers to generate consistent profits.
By accepting welcome offer packs from a range of bookmakers and/or promotional offers, you are able to place ‘free bets’. You then ‘match’ these bets on a betting exchange so as to ensure you make a nominal profit, irrespective of the actual outcome of the sporting event you are betting on.
This is what is known as matched betting. The practice revolves around mathematical equations designed to guarantee profit as opposed to what we traditionally find in gambling.
Matched betting relies entirely on the figures, whereas traditional betting forms are reliant on the punter’s ability to predict the outcome. When done effectively, matched betting guarantees some form of profit.
Despite the fact that it is billed as a ‘no lose’ scenario for punters who get it right, matched betting is not against the terms offered by most leading bookmakers.
HOW DOES MATCHED BETTING WORK?
Matched bets in football, for example, involve placing a bet to win on Team A with a bookmaker. You then counter this bet with a lay bet on Team A to either lose or draw the match via a betting exchange.
You could use a lay bet calculator to help dictate how much should be staked on the win bet and lay bet respectively to guarantee profit.
Alternatively, there are various resources online that can assist with this side of matched betting.
Assuming that you have correctly followed the staking plan, the result of the game is irrelevant. You will always have one winning bet and one losing bet in this scenario, regardless of whether or not Team A wins, draws or loses the game in hand.
With matched betting, you should have a percentage of profit on your overall stake, independent of the actual result.
When you are using promotional offers and/or joining offers to facilitate matched betting, you should look out for the criteria involved in these offers.
This is where matched betting differs from conventional betting. It requires some understanding as well as time to uncover the offers and promos available, but you can be sure you are going to win…every time![/x_accordion_item][x_accordion_item title=”Summary” open=”false”]This is word for word, from 888SPORT.com, they are not only acknowledging it happens, they have written a guide for you! EH?!?
888Sport are a ‘better’ bookmaker, yet they aren’t affected by Matched betting. You would actually see this as them encouraging it!
Bookmakers offer odds which are lower than the true representation, meaning long term they are profiting. Maybe they want as many bets placed as possible… we may have to re-visit this one! Now we are discussing the effect on the bookmakers side of things, how they can encounter problems.
Matched Betting was initially made popular from several newspapers writing an article, so the latest rant by Mr.Banks has the potential to do him more harm than good!
It’s the end of the football season, so it’s a slow news day, this rant was guaranteed to be popular, with several newspapers picking up on his complaints.
There are a few people that will be alerted by this article:
– People who haven’t started matched betting yet.
Many Congrats, Geoff. You have just created the very thing you discourage!
– Members of Matched Betting, yet to register at Geoff Banks.
There will be many people who are yet to register, but now there is coverage they will be on it!
– Ruthless Individuals.
Arbitrage. This will cost Geoff Banks as Arbers will hit his site, mainly due to the fact he’s ranting !
There is no value in keeping a Geoff Banks account, so they are right to Arb the accounts to closure, earning as much as possible.
I would like media attention to remain at a minimal amount, so I can future-proof matched betting.
However, this isn’t the only issue as there are Matched betting ‘services’ now, offering their services to thousands of members, meaning the offer pot is becoming saturated.
Geoff Banks is only a small bookmaker, so it probably did hit his profit margins pretty hard, but he’s coped for decades taking hard earned money from the punters!
Bookmakers are crooks at the end of the day, tilting the odds heavily in their favour.
Matched Betting is never going to die, but it is becoming slowly harder.