There are a handful of problems that anyone starting their Matched Betting journey should know before they begin.
Here is our list of the 5 we think you MUST know
It’s a rite of passage for Matched Bettors to make a mistake when they’re placing a bet and the chances are that mistake will cost you money.
It’s ok. Mistakes will happen!
These are some of the reasons why people make mistakes.
When placing multiple bets at the same time, it can sometimes be hard to keep track of the odds on the BONUS Bookmaker and the COVER Bookmaker.
If you are in the UK, then the COVER bookmaker is known as the betting exchange and you will have to lay off the bets there.
It is not an uncommon sight to see the odds change between placing the BONUS bet on the Bonus Bookmaker and placing the COVER bet.
The best advice is to have the BONUS Bookmaker and the COVER Bookmaker on two seperate screens. This way you can keep track of the fluctuations more precisely and you can place the two bets seconds apart. You can also split your screen in two using an app such as Spectacle if you are on a mac. This makes navigating between different browser windows a lot easier.
You should never place the COVER bet first when Matched Betting. This is because the odds tend to drop more sharply at the Bonus Bookmaker compared to the Cover Bookmaker. Even though we have stated above that the odds will sometimes fluctuate, the fluctuation tends to be more drastic if you have placed the COVER bet first.
We have all been beginners once, excited at the prospect of completing all of the sign up bonuses to build up your bank. However, when you are just starting out, it is important that you take your time and do not focus on too many welcome offers at the same time. This is because it can sometimes become overwhelming and you can easily lose track of the bets and your wagering requirements.
Welcome offer is just another term for Signup Bonus. There is also deposit bonus and signup offer that may also get used. All of these terms are interchangeable.
Here at Oddshero, we have made keep tracking of your Signup Bonuses and wagering requirements a lot simpler for beginners with an integrated Tracker.
It is no secret that bookmakers do not like you winning and taking money from them. This is why you will no doubt be restricted by a bookmaker once they realise you’re Matched Betting.
They will also restrict you from their future promotions - this is known as a gubbing
But do not worry! Because with over 70 Bonus Bookmakers to profit from, there are always ways to make money.
Why do Bookmakers restrict?
Bookmakers restrict simply because a winning customer isn’t profitable for them. Their entire business model is predicated on gamblers who bet on bad value bets which the bookmaker will profit from.
Matched Bettors are part of a group known as ‘value bettors’. A value bettor is somebody who will be in profit over the long term.
A few other examples of taking value from the bookmakers include ‘Arbitrage Betting’, Extra Places and Value Betting.
To learn more about Value Betting and how you can profit from this, then head over to our partners over at Trademate Sports.
Restrictions or gubbings is not something you should worry about when you're Matched Betting. This is because the bookmakers are famously unpredictable when it comes to their restrictions and you can never predict if or when they will restrict you, and you should just focus on taking as much profit as you can.
When you're about to begin a new sign up bonus, it is crucial that along with checking the turnover requirements, you should check how long the bonus will last.
Bonus expirations will vary in length depending on the bookmaker and you do not want to lose out in profit because you haven't placed the bets in time.
This is another reason as to why you should limit the amount of welcome offers you complete at the same time. You do not want a situation where you do not have enough money to cover all of the bets and the bonus ends up expiring.
Another problem Matched Bettors need to be aware of is the minimum odds required to qualify for bets.
As you can see above, BET 365 has a 1.2 minimum odds required to release the bonus to cash. This means any bets below 1.2 will not count towards the wagering.
Bookmakers do this to prevent people from placing extremely low odds which will cost them money.
The minimum odds for a bonus bet isn't an issue if you place a bet through our ‘Find a Bet’ on Oddshero, as we will have a full list of bets each day for you to choose from.
A big problem Matched Bettors have when they’re starting out is making sure they stay on top of all of their current bonuses and not becoming overwhelmed.
From juggling multiple welcome offers, to maintaining they have enough money to cover all of the bets, it is crucial that you organise your time well. This is to make sure you maximise your profit while minimising time spent.
An efficient and smart match bettor can earn a sustainable extra income with only a couple hours each day. This happens once they become a well-oiled machine and they know exactly what bets and bonuses they have to complete.
Do not worry if it seems overwhelming at the beginning, the more experience you have placing bets, the more efficient you will become
Here at Oddshero, we have tried to help you by giving you everything you need to stay organised. This includes a list of all the Signup Bonuses, a ‘My Bet’ page which shows the bets you should place and a Profit Tracker to show exactly how much you have earnt.
Please let us know below any of the problems you have faced when Matched Betting.
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