Matched betting explained
Matched betting has become quite a popular betting strategy in Europe and in England and while many online sportsbooks may not be overly fond of this betting strategy, it is still used by many sports betting fans.
So, what is matched betting essentially? Well, put simply, it is when you place what is called a back bet and a lay bet on the same match but with 2 different sportsbooks. However, one of these bets has to be a free bet which is what ensures that you walk away with at least some profit (provided the odds you used weren’t wildly underwhelming). In order to get your free bet though, you first need to place a qualifying bet with a sportsbook that is giving you the chance to claim a free bet offer. This is where you will take a very nominal loss that you will get back and then some when you use the matched betting strategy with your free bet. That is essentially matched betting explained.
Basically, you are waiting for your initial qualifying bet to settle, then you place your free bet offer as a back bet with a standard sportsbook. The 2nd part of the strategy requires you to sign up for a betting exchange. It functions differently from a standard online sportsbook as you are able to place a lay bet which means you can bet on a team to lose. This is not an available option at standard online sportsbooks. This way, you have covered both of the potential outcomes for the match.
Matched betting example:
Let’s take a look at a simple example. You want to bet on the LA Rams against the Kansas City Chiefs. You would then sign up to an online sportsbook with a free bet offer, place your qualifying bet, and wait for it to settle. Once your account has been credited with the free bet offer, you would then use that to back the LA Rams.
Apart from that, you would then sign up for a betting exchange where you will place the same size bet as your free bet on the LA Rams to lose to the Chiefs. When the game has finished, you will walk away with a profit whose size will be dependent on the odds that you placed your bets on. Either way, you don’t lose. This is how you would essentially put a matched betting strategy into practice.
Matched betting legality – can I use it in the US?
Now the question is, can you even use a matched betting strategy in the US? Unfortunately, the answer is no. Unlike positive EV betting, matched betting can’t be done in the US. This is not because the matched betting strategy is banned itself but rather because there are no betting exchanges in the US right now. This is due to the fact that you use sites outside of state lines and as a result, there simply is no market for a betting exchange to operate in a single state with that limited a player base. That means that you won’t be able to use a matched betting football strategy in the US at the moment.
Is this ever likely to change?
We are certainly not prophets, so we can’t say for sure whether or not the federal laws in the US will change to allow for betting exchanges. With that said, we really do hope that they do eventually change. A matched betting strategy is a great way to ensure profits for newbie and veteran betting fans alike. For now, though, you are going to have to supplement this loss with a different betting strategy. For now, we would highly recommend opting for EV betting.
A better alternative to matched betting for now
You might be wondering what in the world an EV betting strategy is? Simply put, it is the difference in probability expectation between the bettor and the sportsbook.
Even casual bettors will eyeball the odds at a sportsbook to try and find what odds they think are best. To be clear, just eyeballing the odds is never enough to actually find the genuine value bets on these sites. The point is, many bettors are trying to find the best value for their money when it comes to the odds on these sites. The best way to try and gain an expected value edge over the sportsbook is by checking out the odds as soon as they are available on these sites. This way, you can assess whether there is value to be had on the first iteration of the odds. From there, you can watch as the odds change as the fixture approaches. Your choice is simple, there is either value early on, meaning the sportsbook has overvalued a certain team with their odds. Or, you can choose to wait to see if the odds will shift to an even better value.
Conclusion
Now you can see that matched betting USA is not currently an option for you to use. While that is certainly disappointing, we are still hoping that they will allow betting exchanges to operate across state lines at some point in the future. For now, though, EV betting is going to be your best alternative to a no risk matched betting strategy.
