There are a huge number of betting strategies out there, but none can claim to guarantee a profit when placing a wager. All except one that is, and in this article we’re going to take a close look at what is known as matched betting. With matched betting, you are simply taking advantage of the huge number of betting offers and free bets that you can find at all the top bookies in South Africa. And by using the fact that you have bet on a particular outcome for free, you can guarantee a profit by also betting on that result not happening at a betting exchange.
In this matched betting guide we will answer the question of “What is matched betting?”, teach you how to do matched betting, talk about the concept of betting exchanges, the best tactics to use, which ones to avoid, and much more!
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When punters discuss how to make money from betting between themselves, one tactic that is increasingly cropping up is matched betting, which is also known as lay betting or double betting. And this is a form of sports betting where you can benefit from the free bets and promotions that are offered by top South African betting sites. And match betting is growing in popularity because it is seen as a risk-free strategy that relies on maths, rather than chance.
The core concept of no risk matched betting is that you are covering all different outcomes of a sporting event by placing two different wagers. One is a standard bet on a particular outcome placed with a free wager, and the other is a bet on that outcome not to happen, placed at a betting exchange.
If done correctly, often with the help of a matched betting calculator, you will have the luxury of knowing that whatever player or team wins, you will have a winning bet in your back pocket and a guaranteed profit!
Understanding Match Betting Terms & Conditions
Having matched betting explained step by step is the key to understanding what can be a quite complicated concept. And the best place to start our matched betting guide is with the free bet element of the strategy.
Betting sites are so keen to attract new customers and retain the ones they have that they will often hand out free wagers to keep their punters sweet. However, there are always conditions to be met in order to claim a free bet and if you’re going to try match betting it’s vitally important that you always check what they are. And here are the main T’s & C’s to be aware of!
- New Customer Deals. Often, the best free bet promotions will be reserved for new customers. So that means that once you’ve taken advantage by signing up for a particular online sportsbook, you will then need to join lots of different betting sites to get more introductory offers.
- Existing Customer OffersOften a sportsbook will also reward its existing customers by offering them a free bet. However, these will rarely come for free and are often rewards for placing a certain amount of bets, or even part of a special offer. So it’s always worth checking a sportsbook’s promotions section for any free bet offers and how you can qualify for them.
- Use a Promo CodeSome of the best free bet offers for no risk matched betting will need you to enter a promo code in order to claim. And of course, you will need to make sure you enter the promo code correctly in order to claim your free bet.
- Minimum OddsWhen it comes to new customer deals, in order to claim your free bet you will often have to place a qualifying bet at odds that are no lower than a specified price, which is usually around 1.5 or 2.0.
- Payment RestrictionsOften, free bets and promotions will have payment restrictions attached. Sometimes, you cannot make a qualifying bet when using e-wallet payment methods such as Neteller, Skrill, PayPal, EcoPayz and more. So it’s really important that you check to see the qualifying payment methods allowed when claiming your free bet.
- Market RestrictionsSometimes, you cannot place your qualifying bet or free bets on certain bet types or markets, such as accumulator bets or boosted bets. You will also generally not be able to use the cash-out feature on qualifying bets or free wagers.
- Wagering RequirementsWhen it comes to free bets there are limited restrictions when it comes to how you spend them and any winnings are immediately available as withdrawable cash. However, when it comes to “Matched” deposit offers, where your initial deposit is matched by the sportsbook, there are usually wagering requirements attached which mean you have to bet 10,15 or even 20 times your bonus amount for it to become withdrawable. This all means that these types of deposit offers aren’t very suitable for matched betting.
- Expiry DatesMost new customer deals will come with an expiry date, by which all qualifying and subsequent free wagers will need to be placed by. Generally, this is seven days but we have also seen two weeks. And what this means for matched betting purposes is that you should already have in mind the matched bet opportunity that you want to use your free bet for, and need to make sure that it does not take place past the expiry date.
- Geographical RequirementsIf the bookmaker is a global bookmaker and not just a South African betting site, then be sure to check out the geographical restrictions attached to any promotion. Some free bet offers are valid only for certain countries or regions, so you need to make sure that you live in a region that qualifies.
Matched Betting Explained
Now for the part of our matched betting guide where we take you through how to do match betting step by step, paying particular attention to what exactly “backing” and “laying” means.
Backing A Bet
The first part of the process is backing a bet. This is simply placing a wager on a particular outcome, such as a team, individual or horse to win, or picking a soccer bet such as a game having more than 2.5 goals. For example, if you pick South Africa to win a 20/20 cricket match, then you have ‘backed’ them.
Laying A Bet
This is the opposite of backing, where you place a separate bet that the outcome you have wagered on will not happen. So taking the example of the cricket match above, as well as backing South Africa to win, you would also lay a bet on them not winning, covering both possible outcomes. Or if you were backing over 2.5 goals in a soccer match, your lay bet would be under 2.5 goals. Either way, this is the part of the process that would require you to register at a betting exchange such as Matchbook, as this is the only place where you can make “lay” bets.
Liability
It is important to note that lay betting does not work the same as a standard bet. If your lay bet loses, you would be responsible for paying out the punter’s winnings (stake x odds) which would be known as your liability.
If your lay bet does win, you get to keep the stake, but minus a small commission set by the betting exchange. In terms of matched betting, the idea is to place a lay bet at a particular price that ensures a profit no matter what the result is.
The Result
When the result comes in, at least one of your bets will be a winning one. If you have calculated the size of the bets correctly, then you will have won and been in profit, which is why this is generally considered a risk-free betting strategy.
How to Place a Matched Bet
When placing a matched bet your first step will always be to sign up for a new sportsbook and secure a free wager. And using matched betting tactics straight away, you can ensure that you don’t lose any money from your qualifying bet, or at the very least only a small amount!
Step 1
Use one of the links on this page to create a new sportsbook account and secure your welcome bonus. It’s best to focus on free bet offers for now such as the BoyleSports “Bet $10 Get $40” deal.
Step 2
Before you can place a matched bet you need to earn your free wager. And now is the time to introduce you to what is known in matched betting circles as an Oddsmatcher tool. Put simply this is a calculator available at numerous sites online that can not only help you find the right matched bets to place, but advise what your optimum stakes and prices should be to ensure a profit.
When it comes to your qualifying bet, you can either find an Oddsmatcher site to help you find a bet to place or just pick one out yourself, making sure that you are betting on an outcome at a low enough price to qualify for the free bet.
The OddsMonkey site offers a comprehensive subscription-based matched betting service that we would highly recommend, particularly as it includes a free trial. However, there are other sites and calculators available completely free of charge if you search online.
Either way, you will then need to use the filter options on your calculator to find a suitable bet, ensuring that it fulfils the offer’s conditions and is available from your sportsbook. And it’s best to find a market featuring very close odds for both back and lay bets.
Step 3
Go on a betting exchange to place your lay bet. We recommend using Matchbook as it is the only reputable betting exchange currently available in South Africa.
Step 4
Use an Oddsmatcher calculator to work out your worst-case loss using the odds and fees featured on the sportsbook and betting exchange. Feel free to test the results of different bets in order to find the “best” worst-case result. The closer the odds are, the less likely you will be to lose more than your initial stake if the bet is a loser.
Step 5
By completing the requirements of the bonus you now have a free bet to play with and now you just need to follow Steps 2 through to 4 once again, although this time you should seek higher odds and change the setting on your calculator to “free bet”. Once again though you should keep the difference between back and lay odds to a minimum.
Step 6
Use your preferred Oddsmatcher calculator once more to check potential returns and then place your bets!
Matched Bet Example
So let’s say you decide to sign up to BoyleSports in order to receive a $40 free bet. Once you have created an account, you head to OddsMonkey to find a suitable qualifying wager, and luckily enough there’s a soccer match happening that evening with Kaizer Chiefs facing Orlando Pirates. And you decide to bet on the goals total being over 2.5.
You will need to input the relevant information into your calculator:
Your Stake – $10
Your Back Odds – 1.8
Your Lay Odds – 1.9
The Betting Exchange commission – 5%The calculator will tell you that your lay stake needs to be $9.73, which will lead to a liability of $8.75.
There are now two possible outcomes, the first of which is that there are more than 2.5 goals and you win your back bet. As this is a standard bet you will win your stake multiplied by the odds, so 1.8 x 10, which is $18, leading to a profit of $8. However, you lose your lay bet which has an $8.75 liability, so this actually means that overall, you are down $0.75.
And the second is over 2.5 goals so you lose your $10 back bet stake. However, your lay bet is successful so you win $9.24. So in this scenario, you are down $0.76.
In both scenarios, you stand to make a small loss, but most importantly you have now unlocked your free bet! And your second matched bet is where the profit starts.
Now Place Your Matched Bet
You decide to stick with soccer but this time you focus on the English Premier League and the big match between Liverpool and Manchester City. And now you’re looking for larger odds! So you decide to bet on there being over 12.5 corners.
Your Stake – $40
Your Back Odds – 4.8
Your Lay Odds – 5.2
The Betting Exchange commission – 5%
The calculator tells you that your lay stake needs to be $29.51 and that your liability is $123.94.
Once again there are two possible outcomes, the first of which is over 12.5 corners, meaning you will win $152, which is the $40 stake multiplied by 4.8 odds. You have lost $123.94 from the lay bet, but you are left with $28.06, which is your profit of $152 minus your liability of $123.94.
Alternatively, there may end up being under 12.5 corners, which means you will lose your $40 free bet stake. However, your lay bet has been successful so you will have won $28.03, even taking into account the 5% bookie commission.
So well done, you have made a good profit no matter what the result!
How Do Betting Exchanges Work?
Betting exchanges are key to matched betting as they allow you to become the bookmaker, laying bets that a certain outcome won’t happen for other punters to take up. This is of course different to a standard bookmaker where you are betting against the bookie and saying an outcome will happen.
There aren’t many betting exchanges for punters to pick from and even less available in South Africa, but luckily one of the very best is licensed in the Rainbow Nation and that’s Matchbook. Formed back in 2004, Matchbook is an international betting powerhouse, trusted by millions of punters worldwide.
They have a huge range of markets, an easy site to navigate and a host of betting tips available on site, as well as betting guides for the exchange novices to digest. There’s also an excellent mobile app if you enjoy betting on the go.
Using Free Bets To Place Matched Bets
The secret to making profitable matched bets is taking advantage of free bet bonuses, but it’s really important to know that you can earn free bets through existing customer deals, as well as welcome bonuses.
Types Of Betting Reload Offers
Aside from welcome bonus free bets, here are some other existing customer betting promotions that you can take advantage of.
Free Bet Clubs
Many betting sites in South Africa, such as Sportingbet will have free bets clubs, which reward punters with weekly free bets if they make a certain number of wagers throughout the week. The free bets on offer are often smaller, such as $5, but on the plus side you can earn them each and every week!
Soccer Money Back Offers
If you’re a fan of betting on soccer you’re in luck as not only are there lots of soccer betting sites to choose from in South Africa, many of them will offer deals that reward you with free bets. And one such promotion is available at Sunbet, who will reward you with a free bet if a team you have backed loses to a goal in the 90th minute or later.
Cricket Matched Betting Offers
South African betting sites are well aware that cricket is hugely popular within the country, so you will often find cricket-related deals. And bet.co.za is one of the best sites out there when it comes to cricket promotions, as not only do they offer a R100 free bet if you stake R1000 on live cricket markets in a week, but they also have a promotion where you will earn a free bet if a batsman you have backed to be the top run-scorer also scores a century.
Accumulator Offers
A popular accumulator offer is Multi-Bet insurance, which gives you your original stake back as a free bet if just one of your legs lets you down. Betiton and Playa Bets are just two of many sites out there that offer these types of deals.
Price Boosts
When bookmakers offer a price boost it can create a potentially profitable opportunity for matched bettors, who just need to look out for a bookmaker’s price boost that has been increased to a higher value than the lay odds on the same outcome at an exchange. And Betway leads the way when it comes to price boost offers.
Free Matched Betting Sites
We appreciate that for many of you reading this article the mathematics involved in matched betting may be difficult to understand at first, but rest assured the more you do it the more comfortable you will become!
But in the meantime, there are several free matched betting sites you can search for online that will allow you to use a special calculator in order to work out your wagers and maximise your profits. And of course, there are sites such as OddsMonkey that provide an excellent, well-rounded service, that many consider to be well worth a subscription fee.
How Much Can I Earn With Matched Betting?
We’ve certainly answered the question “Does matched betting work?” in this article, but when it comes to how much you could earn from this strategy it’s impossible to put an exact figure on your potential earnings. However, the facts are that if you work hard earning as many free bets as you possibly can across multiple sites, then your chances of boosting your bankroll significantly will certainly increase.
And when it comes to placing matched bets, finding the best odds and markets to both back and lay your bets, often through matched betting calculators, will also help maximise your winnings.
Is Matched Betting Legal in South Africa?
Matched betting is legal in South Africa and all around the world, so you don’t need to worry about any legal consequences. However, if betting sites do suspect you of placing regular matched bets then they could suspend your account or even limit your eligibility for free bets and bonuses. However, there are steps you can take to hide the fact you are regularly indulging in matched betting, such as placing a decent number of regular bets in addition to your free wagers and also spreading your matched bets around a number of different betting sites.
Matched Betting South Africa Final Thoughts
As well as telling you how to match bet, we have made clear in this article that no-risk matched betting is a great way to boost your bankroll by taking advantage of the large number of free bet offers at SA sports betting sites. And having taken you through every step of the matched betting process, introduced the concept of a matched betting calculator and given you plenty of other tips, we’re confident you will be able to regularly employ this strategy. And of course, we wish you the best of luck along the way!
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NO CODE REQUIREDClaim OfferLearn More11Once you activate your Hollywoodbets account and you will receive a R25 Sign-up Bonus! For more information, contact our helpline on 087 353 7634. Terms and conditions apply.FAQ
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Lee Bassin
Lee Bassin
