The house always wins, right? Well yes, that is actually true. It’s rare you hear of bookmakers going out of business! And the fact that the big casinos are able to give away free drinks suggests that they are making a pretty penny. So gambling is probably best avoided, right? Well yes, mostly.
What if there was a way that the house didn’t always win? Now I know it sounds crazy, and a bit like some kind of pyramid scheme. But there is a little-known trick that not all punters know about to take the gamble out of gambling. It isn’t going to make you a millionaire, but it could make you a few quid! What is this mythical technique? It is called matched betting.
What is matched betting?
In order to explain matched betting you first have to understand Lay betting. There are only a handful of online bookmakers that offer this service but it is where you bet on a team, ora horse, or a runner etc. to “not win”. This is different to betting on them to lose (because teams can draw!) Because these options exist you sometimes get an instance where the odds for a team winning and not winning are virtually identical.
If you gamble you may be thinking, “so what”? After all, if you bet on a team to win and to lose and the odds are identical you will end up exactly where you started, either way, right? Again correct. You are good at these rhetorical questions. Here is where the genius of matched better lies.
There are a lot of online bookmakers. Nearly all of them contain promotions for opening up a new account and the majority of them offer regular promotions to get the punters using their site. These promotions usually come in the form of Bet £10 get a free £10 bet. Can you see where we are going with this?
Using matched betting you bet on a team to win and place a lay bet on the same team. Overall this may make you a loss of about £2 (in matched betting you rarely get exactly matched odds) so effectively you are £2 down, but you then activate your free ten-pound bet and use the same process with that. The net result is that you finish £6 up. There is no risk because you are covering both options. Clever eh?
Finding the odds
Obviously, opportunities, where odds match in that way, are rare, right? Wrong actually. With all the sports going on all over the world these matched bets are available all the time. However, finding them manually is an utter nightmare. You could spend an entire day just trying to find one set of odds that matches and then it’s just not financially viable.
So what to do?
Luckily there are several websites available who will find matched betting odds for you. These are usually in development so constantly improve. They also contain other offers involving slot machines, these mean that the majority of the time you turn a profit, effectively putting the odds in your favour, but there is luck involved so it is gambling!
So where’s the catch?
The websites that match the odds have a monthly subscription. That may be enough to turn you away! Unless you are serious about becoming a matched better then the £15 a month probably isn’t worth it. There’s also the risk of human error. You have to place the bets yourself and it’s easy to misclick and cost yourself money. Of course, the plus points are that you can use it as a secondary income and it is completely tax-free!