There are many bettors who often turn away from betting due to the fear of losses. Many of these risk-averse bettors turn to matched betting as it provides a way for bettors to lock in profits. Although the profits may not be as exciting as those won from traditional gambling, they will be much more consistent. Matched betting is a very useful strategy for any bettor to understand.
However, with it being a somewhat complex system, many bettors often make small mistakes that derail their matched bets. In this article, we are going to dive into the most common mistakes made by players and how you can make sure to avoid them going forward.
Matched betting is a mathematical system that allows players to lower the risk when betting while also taking advantage of free bet promotions to guarantee a profit. The act of matched betting includes placing a bet on every outcome within a given event so that no matter what the outcome, you win. Paired with free bet promotions, this allows you to lower the risk by guaranteeing wins and placing stakes without using your own money.
How Does Matched Betting Work?
There are two more pieces of information you need to know before we can continue. These are back bets and lay bets. Understanding these two bet types is crucial for matched betting, as they are the two bets you will place to ensure every outcome is accounted for.
A back bet is where you predict a certain outcome. This could be for ‘England to win’ or for a player to receive a card. If your prediction comes true, you will win the bet. Then there are lay bets. This is where you place a bet against an outcome. So, for example, it could be ‘England will not win’, or a player won’t receive a card. In this instance, if England loses or draws, your bet will win.
The idea is to use these two bets in unison to cover every outcome.
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The Most Common Mistakes
In this section, we will dive into the most common mistakes and give you tips on how to avoid them going forward.
You Place Your Lay Bet First
With a lay bet, you will typically have more to lose than gain, and it is for this reason that it is critical that you place your back bet first. Although it may not seem like a big deal, if you place your lay bets first, then you will sooner than later run into difficulties. This is due to the fact that back bets will not always go through, and that will leave you with an unprotected lay bet. If you have already made this mistake, however, then you can either trade out your lay bet or place a back bet.
You Are Not Using An Oddsmatcher
Using an odds matcher is crucial as it means you will no longer have to search for the best odds manually. Not searching manually allows you to not waste as much time and also make more money, as you will be able to place more bets and bets with better odds. Using an odds matcher can help minimize losses and maximize profit, as well as allow you to find as many offers as possible.
You Have An Unmatched Lay Bet
An unmatched lay bet essentially means that even if your lay bet wins, you will still be at a loss. This is caused by mathematical mistakes and means that there will still be risk involved in your bet. Many bettors panic when they realize they have made this mistake. However, there is an easy fix. Simply use a matched betting calculator and use the part lay function. You can then enter all the relevant information, and it will show you how much to place in order to even things up and reduce risk.
You Did Not Read The Terms Of An Offer
It is crucial that you check the terms and conditions of an offer before placing a qualifying bet. If you don’t read the terms and conditions, you might end up not receiving the free bet. In this instance, not only are you wasting your time but also gambling away valuable bankroll.
You Let Your Free Bets Expire
Similar to the last mistake, it’s important to not just check when the expiry date of an offer is but also keep an eye on when it is about to expire. This is another reason why reading the terms and conditions is so important. Many players will have many free offers and would rather lose track of them or wait until a big event to use them before realizing they have already expired. Once again, by not using your free bets in time, you are wasting time and money.
You Gambled
Many matched bettors start winning and then fall down the trap of thinking they don’t need a lay bet and that they can keep their winning streak going without the help of matched betting. This isn’t true, and it is often the case that the only reason they were winning was because of matched betting. Do not let the big prizes fool you; gambling only ever results in more losses than wins, so stick to matched betting where you can slowly make consistent profits.
Summary
These have been some of the most common mistakes players make when matched betting. They are all just as easy to solve as it is to get into matched betting in the first place. When matched betting, do not panic and remember what you have hopefully learned in this article. If you do match betting correctly, it can lead to consistent profits and even potentially lead you to a new side hustle. So why not, with the help of our tips, try matched betting today? It is very easy to get started and comes with very little risk.
