Introduction
Before the turn of the 21st century, gamblers were only aware of one traditional form of betting. In this traditional form of betting, players bet against bookmarkers or bookies for short. However, the introduction of the betting exchange strategy has reshaped the structure of the betting industry as we know it.
This article will give you a detailed explanation of what exchange in matched betting means. You’ll also find out how to get the best out of them. Check https://thetrader.bet/ for more info.
What is a Betting Exchange
A betting exchange is a platform where players can bet against each other. Note that a betting exchange platform differs from the traditional form of betting. This is because players usually bet against the bookmarker in the traditional betting method. This bookmarker is also responsible for giving out specific odds based on the likelihood of an event happening.
In contrast, betting exchange platforms are merely intermediaries where a player bets against other players. To do this, a player will choose between the two options in betting exchanges to back or lay a bet.
To back a bet simply means that you are supporting an event to happen. For instance, you believe Team A will beat Team B in a football game. You can then back Team ‘A’ to win.
On the other hand, laying a bet means you are betting against an outcome. Using the same analogy, you can lay your bet against Team B. This means you believe Team ‘B’ won’t win the game.
What is Matched Betting
Matched betting is a technique in betting exchange. It is when a player strategically places bets in ways that eradicate the risk of a loss. With matched betting, a player creates an avenue to always win, no matter the outcome of the results.
This technique is done primarily to capitalize on the free bet offers from exchange platforms. However, there is room for mistakes if not calculated properly, which can make a player lose his bet. Matched betting has more to do with mathematical calculations than actual betting.
What is the Exchange in Matched Betting
As you may have come across in this article, we talked about the exchange, which is to back or to lay a bet. In matched betting, these are the key positions a player will have to choose when match betting.
How Does Matched Betting Work
Online bookmakers usually give out promotions to attract customers. When you place a bet, you get your free bet funds. These promotional funds are what those who play matched betting intend to turn into withdrawable cash.
To do this, you must have an account on one of the betting exchange platforms. You’ll also need another betting account in one online bookmaker platform. Remember to fund your accounts.
Now you’ll have to place two opposing bets simultaneously on a particular sporting event. One bet should be to back the outcome, and another should lay the outcome. This way, you don’t have any risk as you’ve covered all possible outcomes. While you may not get all the promotional bet amounts, you can get up to 70-80% of the funds.
It is also worth noting that matched betting does not eliminate the risk of betting. This is because of the potential human error that may creep into the technique. Also, a slight change in odds between the time you back and lay a bet can render your effort futile as they won’t be properly matched any longer.
Is Matched Betting Legal
Matched betting is mostly legal in the United States. However, you may find out that the terms and conditions of most betting sites frown upon such practices. As such, your account may be at risk of closure if you’re found to be matched betting.
Nonetheless, it is a completely legit way of eliminating risk in betting and ensuring you always win.
Tips for Successful Matched Betting
To consistently make money from matched betting, you’ll have to know some tricks and hacks. Below are notable tips for successful matched betting.
Use Calculator Tools
Utilize calculator tools to effectively work out how much will go into your lay bet staking. The calculator tool also helps highlight the odds and stakes, which will determine whether to overlay or underlay your bet.
Double Check your Bet before Confirming
You should ensure your matched bet is what you intend it to be. This is because most of the matched bets that end up not yielding profit can be traced down to human error. As such, you should make sure you don’t waste a valuable round as a result of negligence.
Conclusion
Punters are making real money through matched betting, follow the tips in the article, and you will have a great matched betting exchange experience.
