Bet to win: The complete guide to matched betting at Gamdom

Online sportsbooks are known for their generous rewards and bonuses, with free bets leading the pack of these exciting offerings. Free bets serve not only to enhance your chances of winning by allowing you to bet more, but can also be used as a strategy to ensure a profit.

KEY TAKEAWAYS

• Matched betting is a sports betting strategy where you leverage the free bet offers from bookmakers for a guaranteed profit.
• This technique is done by placing a qualifying bet for the free bet bonus on your preferred sportsbook, as well as a lay bet on another platform such as a betting exchange.
• Placing a back bet and a lay bet allows you to wager on both possible outcomes of a sports event, ensuring that regardless of the actual result, you will earn a profit.
• When matched betting, odds play an important role to make sure that you get the best possible value for your back bet and lay bet. 

If you would like to learn more about the know-hows, here’s a guide to matched betting.

What is matched betting?

Matched betting is a technique that punters use to earn profit from their free bets. Often referred to as double betting or lay bet matching, this strategy involves placing two bets to beat the odds and earn a profit, regardless of the outcome of the sporting event. 

How does matched betting work

Here’s how it works:

• Log into your bookmaker account and claim the free bet bonus.
• At the same time, log into another betting exchange that offers the best matched betting odds.
• Navigate to your preferred sports events on both platforms.
• Select your preferred bet option.
• Place a qualifying bet on one bookmaker to activate your free bet or any bonus that will allow you to place a bet risk-free.
• Then, head to the betting exchange and place a 'matching' bet on the opposite possible outcome of your first bet. This is also known as the ‘lay’ bet.
• Regardless of the game's outcome, you will receive a win and profit since you have the backing bet.

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Example

For instance, suppose you plan to bet on Spain to win the European Championship finals. You can visit any bookmaker, such as Gamdom, and place a ‘backing’ bet on Spain. If Spain wins, you win your bet. If they lose, you lose your bet. However, you can avoid your losses by placing a ‘lay’ bet on a betting exchange.

In the lay bet, you bet against Spain winning, opposing your initial backing bet. With this strategy, you bet on both possible outcomes (Spain winning or not winning), but you don't have to bet the same amount twice since you're using a free bet on one. Regardless of the outcome, whether Spain wins or not, you can profit from the matched bets you've placed. 

Benefits of matched betting

Many punters use matched betting to take their usual sports betting experience to the next. Who wouldn't desire a sure profit? If you remain hesitant to explore matched betting, consider the following key benefits:

• Guaranteed profit: In matched betting, you eliminate the chance of a loss by placing bets on both outcomes of a game event. No matter what the result is, you will win one bet and generate a profit. Even though you are betting on both outcomes, the total amount you risk will be your regular bet only, as one of the bets is free.
• Risk-free approach: With back and lay bets, you don't risk anything as you will win regardless of the outcome. Even if you have to risk the amount of your back bet, that amount will simply be credited back to you since you have a sure win. Therefore, matched betting allows you to take a completely risk-free approach.
• Applicable to a wide range of sports events: Matched betting is not limited to specific sports events. You can use the matched betting strategy whether you are betting on football, tennis, or other sports, as long as there are two possible outcomes. This allows you to enjoy the strategy on the games you like.
• Long-term: Matched betting can be a viable long-term strategy. In fact, engaging in matched betting for an extended period can likely increase your overall yields due to its risk-free nature. As long as there are free bets, you can continue to employ the matched betting approach.

Matched betting odds format

Odds play a crucial role in match betting as you are going to place a bet on two different platforms. The key is to look for prospects where odds offered by the bookmaker and betting exchange suggest a positive expected value, ensuring your profit no matter the outcome. There are different odds format you can use:

• American: Displayed as positive or negative numbers, these show the amount you must wager to win a certain amount, or the amount you can win from a specific wager.
  Positive odds, such as +450 or +100, indicate that the team or player is the underdog in the game. The number shows the amount you can win for every 100 USDT you bet. For example, odds of +450 mean that a 100 USDT bet would pay out 450 USDT in winnings.
  Meanwhile, negative odds, such as -270 or -150, indicate that the team or player is the favourite to win the game. The number shows the amount you must bet in order to win 100 USDT. For instance, odds of -270 mean you would need to bet 270 USDT to win 100 USDT in profit.
• Decimal: Presented as decimal numbers, these indicate the total amount you would receive for a winning bet, including your original bet and profit. 
  For example, placing 100 USDT bet on 6.70 decimal odds would result in 670 USDT total payout. This includes your 100 USDT bet and 570 USDT profit. To calculate your decimal odds, all you have to do is multiply the odds to your bet amount. So, 100 USDT x 6.70 decimal odds = 670 USDT.
• Fractional: Fractional odds are displayed as fractions such as 4/1 or 3/2. In this format, the first number shows the amount you would win for every second number, which is the amount of the wager. So, if the odds are 4/1, that means for every 1 USDT bet, you can win 4 USDT. So, if you bet 100 USDT, you can win a total of 400 USDT.

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Matched betting markets

Matched betting thrives on various markets. Here’s what you should target: 

• Winner: The simplest bet where you back on the team or player that you predict will win the match. For example, if you’re betting on the European Championship finals, you would choose between the two competing teams.
• Total (Over/Under): This bet involves a preset number of goals or score of the match. Your goal is to bet whether the actual goals or score will be over or under the preset number by the bookmaker.
• Handicap: To level the playing field, the bookmaker will assign a point advantage or disadvantage to one team or player. Your aim is to bet whether the team can cover the handicap given or lose by a certain margin.
• Futures: These are winner bets that are settled long before the actual game. For example, you bet early on who will win a certain tournament.
• In-play bets: You can also use matched bets on in-play bet options such as ‘next scorer’ or  next team to score. However, you must be attentive as in-play bets require fast decision-making.

Tips for successful matched betting

To ensure that you can have a successful matched betting experience, consider these matched betting tips:

• Understand how it works: Matched betting can be confusing, especially if you get straight to it without understanding the basics first. Before you try this betting strategy, make sure that you know the concept of backing bet and laying bet first and how odds is an important part of the whole betting process.
• Start small: If you’re just starting, it’s better to start with small bet amounts. Avoid diving into huge qualifying bets right away as this would result in confusions or even losses if you are still on the way to getting fully familiar with the matched betting process.
• Use matched betting calculators: There are now many matched betting calculators online which will help you skip the manual calculations. With these, you can easily know the right lay bet, as well as the potential profit you would yield.
• Stay updated with latest bonuses: Matched betting is now possible without free bets. Therefore, it’s important to stay updated with the latest free bet promotions in your preferred bookmakers. Some platforms offer email newsletters to directly inform you with their newest offers. This way, you can easily claim and use them for matched betting.
• Keep records of your matched bets: It will also help you if you keep track of your matched bets and the results. You would know your overall profit, as well as somehow help you in case there is a similar odds situation in the future. With this, you will know your progress, as well as mistakes that need to be improved.

Getting started with matched betting on Gamdom

Gamdom is a betting platform that supports punters who utilise the matched betting strategy. We offer an extensive list of sports and sporting events for you to place your bets on, as well as competitive odds and markets that can help make your matched betting successful.

So, what are you waiting for? Take this matched betting guide to heart and kickstart your journey with Gamdom today!

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