If the match is a draw, you win £280 but lose £253.34 that you laid, meaning a £26.67 profit. If the match is not a draw, you win £126.67, minus your £100 stake, also resulting in a profit of £26.66. The fact that you are guaranteed to profit with matched betting makes it one of the best ways to make money online. A shift in circumstances and odds can present opportunity to lay a selection you have backed or vice versa. For example, you back a football match to be a draw at odds of 3.8 with a stake of £100 – the potential profit is £280. At half-time the game is still 0-0 and nothing much at happened, the odds of a draw will have shortened, say to 3.0.
Lay bets are most commonly used as part of a betting strategy, more specifically matched betting. This is a type of strategy which takes advantage of free bets in order to place both back and lay bets to cover all outcomes. In this case you simply select the lay option in a betting exchange on Arsenal. If Arsenal either draw or lose to Everton, your bet wins.
You can work out the liability of your bets by using our calculator. If you’ve placed a bet or two before, you’ll find the following process incredibly easy. If you’re new to betting, not to worry, you’ll have the method nailed in minutes. A discrepancy like this is quite typical and is sometimes bigger than this.
I would generally aim for around $8 profit out of every $10 in free bets, which we can do by using higher odds and/or closer back and lay odds. Let’s see how that matched bet has worked out, where we bet on every possible outcome. On our soccer match, Betfair charges a 5% commission on any winnings. That means that we can bet on all the other runners at equivalent odds of $1.5 if we actually didn’t like the chances of Meadowvalley Lover. We’re effectively betting directly against people who have backed that horse to win.
The main part of matched betting is to understand back and lay betting. Without understanding back and lay betting you are going to have a hard time making any profit. So we’ve shown you the basics of how to place a lay bet. But as we mentioned previously, lay betting is vital for matched bettors. On first impressions, it can look complex – but it really isn’t.
Having understood what back bets and lay bets are, profiting from matched betting becomes much clearer and easier. Everybody knows that betting involves a certain degree of risk whether you bet on sport, reality TV shows, or even the Oscars. The outcome may either be in your favour where you win or against your prediction and you lose. However, did you know that there is another form of betting where you can profit with almost zero risk? Well, it sounds unbelievable but matched betting gives you exactly that.