Matched Betting Guide

Matched Betting Guide Introduction

In this matched betting guide we’re going to cover everything you need to know to get started with matched betting.

Our beginners guide to matched betting aims to explain matched betting in simple terms any one not familiar with sports or sports betting can understand.

Each video is 3 minutes to 7 minutes long and the full matched betting guide takes less than 30 minutes to complete from start to finish.

What is matched betting?

You may have seen sports books like FanDuel and DraftKings offer promotions like sign up and Bet $100 get $200 in free bets.

Each state in the US. Has between 10 and 30 different sports books, with each sports book offering their own free bet promotions that we can take advantage of. These promotions can total between $4000 to $10,000 of free bets for each state.

With matched betting, we can turn these free bets into guaranteed cash in our bank accounts.

Now, it’s worth mentioning that even though match betting involves placing bets, we in no way leave anything up to chance.

We do this by betting on both sides of an outcome at two different sportsbooks, so we don’t win or lose any money. For example, let’s say we have an NFL game between the Kansas City Chiefs versus the Denver Broncos. Now, assuming that both teams are evenly matched, we can simultaneously bet $100 on the Kansas City Chiefs to win that game, whilst also betting $100 on the Denver Broncos to win that same game.

This means if the Kansas City Chiefs win, we’ll win $100 from that bet. If the Denver Broncos win, we’ll win $100 from the Denver Broncos bet. Now, let’s look at what happens if Kansas City Chiefs win that game. If the Kansas City Chiefs win, this means that our $100 bet will win $100 of profit.

As a result, the Denver Broncos lose, and we lose our $100 bet on the Denver Broncos. We started with $200, but we also ended with $200.

Now let’s look at the Denver Broncos winning the game. If the Denver Broncos win, this means that we will win our $100 bet on the Denver Broncos, and we’ll make $100 of profit. Consequently, Kansas City Chiefs lose the game, and we’ll lose our $100 bet on the Kansas City Chiefs.

However, we start with $200, and we also end with $200. We haven’t won or lost any money, because one bet will always win and cover the losing bet that we made on the other team.

These are called qualifier bets, as we don’t win or lose any money, but the aim of them is to qualify for a free bet.

By repeating this process of betting on both teams, we can convert these free bets into cash, and we’ll explain how to do that later on. But for now, all you need to know is for every $100 of free bets, we’ll make about $70 of cash profit.

Betting Odds Explained

In our previous example in this matched betting guide, we assumed that both teams were evenly matched. However, in most games, we’re going to have what’s called an Underdog, which is a team which is less likely to win, and we’re going to have a team which is the Favorite, which is the team which is more likely to win or expected to win the game.

Now, sportsbooks represent the likelihood of a team winning with betting odds. The most popular form of betting odds in America are called moneyline odds. Moneyline Odds are numbers and can be either positive or negative. Underdogs are displayed using a positive number and favorites are displayed using a negative number.

Positive Odds represent how much money we would win from $100 bet. Negative Odds represent how much we would need to bet in order to win $100. For example, if we had an underdog team that had odds of +200.

This means that if we placed a $100 bet on that team and that team goes on to win,

then we would win a total of $200 of profit. We would also receive our $100 back, and we would make $200 of profit. Now, let’s look at favorite odds. Let’s say there’s a favorite team at ODS of -200 this means that in. Order to win, $100 of profit, we need to place a total of $200 on that team.

So by placing the $200, if that team goes on to win, that means that we would make $100 of profit, and we would also receive our $200 bet back. So we would make $100 of profit and. Hundred dollars back in our Kansas City Chiefs versus Denver Broncos example, we assumed that both teams were evenly matched, meaning a bet on either team would win the same amount of money.

The odds in this case would be +100 for either team.

This means that if we bet $100 on either team and that team goes on to win, we would win $100 of profit. This means that the winnings on a bet for one team will always cover the amount that we lost betting on the other team.

Let’s look at an example where the odds for each team are not the same.

Matched Betting Odds Example

In this example, the Baltimore Ravens are at odds of +200 and the Pittsburgh Steelers are at odds of -200

as the odds are different. In this case, we need to bet different amounts on each team. The odds of the Baltimore Ravens are at +200, meaning a $100 bet will make a profit of $200. If the Baltimore ravens win, the Pittsburgh steelers are at -200 meaning we have to bet $200 in order to win $100.

This means if the Baltimore Ravens win the match, we win $200 of profit, and that covers the $200 we bet on the Pittsburgh Steelers. If the Pittsburgh Steelers win, we make $100 of profit, and that covers the money that we bet on the Baltimore Ravens. As you can see, as the odds change for each team, the amount of money that we need to bet on each team also changes in order to make sure that we don’t win or lose any money.

We’ve looked at some fairly simple examples, but what if the odds for the Baltimore Ravens were +157 And the Steelers -161. How would we work out how much we need to place? Well, in this case, we would use a specialized match betting calculator.

And by entering the odds, the calculator will work out exactly how much we need to place on each team.

And we’re going to look at that in the next section of this matched betting guide.

Calculating Our Bets

The Match Betting calculator is located in the Betting Calculators dropdown of the main Betlogical menu. Click on the Matched Betting calculator and scroll down to the calculator below.

The calculator will allow us to see exactly how much we need to bet on both teams. Given the odds, we can use the calculator for both qualifying bets and free bets. So the first thing that we want to do when using the Match Betting calculator is ensure it’s in the correct mode. In this case, we want Qualifier Bet mode, which is circled in green.

The next thing we want to do is we want to enter how much the sportsbook requires us to bet to qualify for our free bet. Below this, we have the Betting odds section, and we want to enter the odds that we’re betting at the sportsbook offering the promotion in the outcome one odds section. The amount that we should bet is then displayed to the right hand side. Next, we want to put the odds for their opposing team in the Outcome Odds Two section. Again, the amount that we need to bet on this team will then be displayed on the right hand side.

Once we have entered all of this information into the calculator, the calculator will then calculate how much we will win or lose for each team winning the game. If outcome one wins, the total profit or loss will be displayed circled in green here. If outcome two wins, then the total profit or loss will be displayed on the very right hand side, circled in blue here. The calculator also provides a breakdown of the individual bets, the profit or loss made on those individual bets. This is circled in yellow, and this is displayed in both Outcome one win section and the Outcome two win section.

Now that we know how to use the calculator, let’s go ahead and enter the odds. For our previous example, let’s say we need to bet $100. Just enter that into the bet stake section. And now we just need to enter the odds for each team.

So enter the odds for +157 for the Baltimore Ravens and then enter -161 for the Pittsburgh Steelers. The amount that we need to bet on the Pittsburgh Steelers is then displayed in the Outcome two bet stake box. The overall profit or loss is then displayed below in the Outcome one win section and the outcome two win section. We can actually see that in this case, we lost $1.53 no matter which team won the game. This was because the odds for the Baltimore Ravens were not equal and opposite to the Pittsburgh Steelers.

And what I mean by this is that the odds for the Pittsburgh Steelers would have to be minus one five seven. As the odds move away from minus one five seven, our loss increases. This is called a qualification loss, and although this isn’t a big issue because we’ll make far more profit from the free bet. We want to try and reduce this qualification loss.

Now, you may wonder, what if the odds are below -157? Well, we would actually make a profit in this case, but that’s for another video. What we want to know is how can we find these zero loss bet combinations? Well, we can actually use a piece of software to find these for us. This software scans through all of the odds available on every single sports game, at every single sports book, and crunches the numbers together to find the best odds combinations for us to bet on. And we’re going to look at this software in the next video of this matched betting guide.

Finding Our Qualifier Bets

In the Betlogical menu, hover on the Betting tools section and click the low hold Bet finder tool. It may take a couple of seconds to load, but this is the betting tool that we will use to find the best combinations to bet on given the sportsbook that is offering a free bet promotion.

The betting tool consists of two sections. At the bottom, a spreadsheet style grid where we have a number of rows and columns. Above this grid we have a set of filter options that we can use to filter the information that is in the grid below.

Each row in the grid represents a different event or sports game. Each row will display the odds available at two sports books on each outcome of that sports game. The rows contain information that are organized in columns, each column representing a certain type of information.

In this case, the first column is the start date time, which is the date and start time for the game or sports match in each row.

The next column is the league column and this will display information about what league we’re betting in. For example, the NFL, the MLB. The NBA, the NHL.

The event name column will display the two teams or two boxers or fighters that are playing each other.

The Market type column displays the type of betting market that we’ll be betting in. In this case, it’s moneyline, which means we’re betting on the team or fighter or boxer that’s going to win the match.

The next three columns bet outcome one, sportsbook one and outcome one. Odds represent what we’re betting on the sports book that we’re betting at and the odds that that sports book is offering on that outcome. For an example, we have Los Angeles Rams at FanDuel at odds of -148.

The next three columns will represent the opposing team at a different sportsbook. This is the bet outcome two column. The sportsbook two column. And the outcome two odds column. For example, the Pittsburgh Steelers are at odds of 145 at bet365.

The next column is the Hold rating column. This displays how close together the odds are. We essentially want to bet as close to 100 as possible, but not below 100, as this increases the likelihood that our account may receive restrictions. The closer we get to 100, the smaller our qualifying loss will be, and at 100 we make no loss.

The next column is the relevant states column. This will display the states in which both sports books in that row operate. You’ll be able to filter the table by your state in the filters section, and we’re going to take a look at that in the next part of this video.

Using the filters section, we can filter by sportsbook. For example, we can filter sportsbook One to DraftKings. If we’re looking to find a bet on DraftKings, we can also filter by sportsbook two. So if we want to place our matched bet at certain sports books or if we want to exclude certain sports books, we can do that using the filter.

We can also select multiple sportsbooks so we can select Sporttrade. We can select another sports book such as Prophet or CircaSports, and this will display all of the options where the second sports book is one of those options that we’ve selected. We can also filter by state so we can select the state that we’re currently in and this will filter the whole table to only display matches that are relevant to our state.

Let put every thing we’ve learnt in this matched betting guide in practice with a real sportsbook offer

Now that we understand the basics of match betting, let’s take what we’ve learned and apply it to a real life offer.

In this video of the matched betting guide, I’m going to walk you through the full process of using the match betting process with a real life offer. In this case, we’ll be looking at this generous offer from FanDuel, where if we bet $5, we will get $150 in bonus bets. We’re going to use the match betting method to make a guaranteed profit of about $100 from this offer.

The first thing that we need to do with any sportsbook promotional offer is check the terms and conditions with this FanDuel offer. There are two mean terms that we need to be aware of. First, we must deposit at least $10 on our first deposit. And second, the free bet bonus bets expire within 14 days, so we have to use them within that time period or we lose them.

The first step is to register at FanDuel and deposit the $10 required for the offer. The FanDuel registration page will get you to enter some basic information, like an email address, set, a password. You’ll have to provide your address and the last four digits of your Social Security number. That’s because FanDuel need to verify that you’re actually in the correct state to be allowed to bet and that you’re over the age of 21 years old, so you’re legally allowed to bet.

But once you’ve provided that information, your account will be created, and then you just need to place a deposit into that account of $10. Once your account has been created and verified, you’ll be given the option to deposit on the deposit page. There’ll be a number of different deposit options. Just choose the deposit option that’s best for you. Now be aware that your first deposit to a betting company may get blocked by your bank, and you’ll have to go through your bank’s fraud confirmation services. This is usually normal for a first deposit.

Once that’s confirmed, you should get a confirmation of your deposit like the page we can see now, we’ll also need to register at a second sportsbook in order to place our matched bet on the opposing outcome that we choose for our qualifier bets. In this example, I’ll be using the Prophet betting exchange.

We now want to find our qualifier bets, and we’ll do this using the low hold betting tool. To find a close match between the odds at FanDuel and odds available at the Prophet betting exchange, navigate to the Low Hold betting tool from the Betlogical menu at the top of the page, hover over the Betting tools section, and then select the low hold betting tool. The tool may take a few seconds to load. Once the tool has loaded, select the sportsbook where we’re getting the promotion from.

In the sportsbook one filter. In this case, FanDuel. In the Sportsbook two filter. We want to select the sports book that we want to place our matched bet at. If we don’t have a specific sports book, we can just filter by state, but in this case, we’re going to select Prophet exchange. And now the table will filter all of the results for only matches between FanDuel and odds at Prophet. We then want to select the odds match that has the hold rating as close to 100 as possible.

In this case, it’s a New York Islanders versus Arizona Coyotes NHL match, which we’re going to place our bets on. One bet at FanDuel and one bet at the Prophet exchange.

Now that we know what we’re betting on, we need to know how much we need to bet. And for this, we need to use the Match Betting calculator and enter the odds from the Low hold betting tool. You can select the Match Betting calculator from the menu at the top of the website. Just hover over the betting calculators section and the Match Betting Calculator will appear below.

All we need to do now is enter the information from the Low Hold betting tool into the Match Betting calculator. That’s the amount that we need to bet in order to get our free bet. The odds at FanDuel and the odds that are available at Prophet exchange.

Once entered, the amount that we need to bet on both teams at both sportsbooks will be displayed and our total profit or loss is displayed at the bottom of the calculator. Let’s take a look at that. Now ensure the calculator is in qualifier bet mode and enter our bet state required for our free bet.

In this case, $5. After that, we want to enter the odds for the New York islanders at FanDuel. This was minus one eight two. We have to bet $5 on the New York Islanders at FanDuel. This is because FanDuel are requiring us to bet $5 in order to qualify for our free bet.

Next, we entered the odds for Arizona Coyotes on Prophet exchange. That was one seven one. The calculator then calculates exactly how much we need to place on the Arizona Coyotes on Prophet exchange in order to get the equal profit or loss. In this case, it’s $2.86. And this will mean that we will make a total loss of $0.11 no matter who wins that NHL game. Don’t worry that $0.11 will be more than covered by the $150 of free bets.

The last thing that we need to do is actually go and place our bets. We need to place our $5 at FanDuel, and we need to place our $2.86 at Prophet betting exchange. Let’s go ahead and do that. Now, once logged into FanDuel, you can use the left hand navigation to navigate to the league. In this case, it’s the NHL. And then we can scroll down and find the game between the New York Islanders versus the Arizona Coyotes or whatever game you’re betting on. We’re betting on the moneyline market. So the odds will be in the middle of the page when you click the odds. A ticket containing that bet will display on the right hand side of the website in a section called the Bet Slip. Here we can enter the amount that we want to bet, in this case $5, and then we can click the green button at the bottom to place the bet with the sports book.

We now need to head on over to Profit Exchange and place our second bet, our matched bet. Use the navigation on the left hand side of the website to navigate to the correct market. Now, the money line market is just at the top here, just below this image of the hockey rink. And we just want to select the Arizona Coyotes.

Now, I’ve just noticed that the odds have changed for the Arizona Coyotes. So if this happens, don’t worry, we just need to head on back over to the match betting calculator and update the odds in the calculator, and this will adjust how much we need to place at the Prophet Betting exchange.

Once we’ve placed both of our bets at each sportsbook, the last thing we have to do is just sit and wait for the game to be played for the result to be determined and the sportsbook to pay out our winnings on the winning bet.

We will then be credited with our free bet. And in the next video, we’re going to look at how we can convert this free bet into a cash profit with the highest conversion rate.

Once the game that we placed our qualifier bets on finishes, we should get credited with our $150 of free bets or bonus bets. At FanDuel, we can’t immediately withdraw the $150 we first need to use that $150 bonus bet or free bet with a sports bet.

In order to find the best market to place our free bet on, which will maximize the amount of money that we convert from the free bet into withdrawable cash. We’re going to use a different piece of software from the low hold bet software. This software is called the free bet conversion finder. It works very similar to the low hold bet finder. The only difference is that instead of a hold rating column, we have a free bet conversion rate column. And this column is the percentage that we’ll convert from our free bet. So if we had a $100 free bet and the conversion rate was 75%, we would convert that $100 free bet into $75 of profit. So we want to get the highest conversion rate possible.

You can navigate to the Free Bet conversion tool by going to the main menu, hovering over betting tools, and selecting the Free Bet conversion tool below the Low hold betting tool option. Again, we can use the filters to filter for FanDuel. By selecting FanDuel in the Sportsbook one filter, we can then decide to filter sportsbook two for a specific sportsbook. Or we can use the States filter to filter for every sportsbook that’s available in our state.

For example, if I selected New Jersey as NJ, then it will show me all of the options where FanDuel is matched with another sportsbook that operates in New Jersey. This can help us get the maximum free bet conversion rate from the finder tool. Once we have found the match that gives us the highest conversion rate, we then need to take the odds from that match and input them into the match betting calculator just like we did before. The only difference is that we need to change the calculator from qualifier bet mode to Free bet mode. Let’s go do that now.

Select the free bet mode toggle at the top of the match betting calculator circled in yellow here. Then we need to add our free bet stake, in this case $150. Enter the odds of the sportsbook that’s offering us the free bet. In this case FanDuel to the right it’s displayed the value of the free bet that we’re placing. It’s always important that the odds for the free bet are always in the outcome one section. Otherwise the calculator won’t calculate our stakes correctly.

Next, we need to enter the odds for the opposing outcome at the second sportsbook in this case -450 the amount that we need to bet at the second sports book on the second outcome is to the right of this in the outcome to bet stick section. Now, you should be aware higher the odds we place our free bet on, the more money we will need to cover our bets.

Our total profit or loss is displayed at the bottom of the calculator. In this case, we would convert the $150 of free bets to $120 of withdrawable cash profit.

The final thing that we need to do is go ahead and place our free bet at FanDuel and place our matched bet at a second sportsbook. Once you’ve gone to FanDuel and navigated to the market that you want to bet on, click on the odds and on the bet slip on the right hand side of the website. There’ll be an option to toggle the free bet. This tells the sportsbook that we’re using our free bet on that particular bet.

I’ve already completed this offer, so the bet that’s shown on the screen will be slightly different from what you’re betting on. But this is just an illustration of how we place our free bet. Just click the green button to confirm, and we should get a confirmation that the free bet was placed successfully. We now just place our bet at the second sports book and that’s this offer completed.

And that’s everything that you need to know to start earning from match betting! That’s all from this beginner matched betting guide.

The next step is to click ‘Start my First Offer’ at the bottom of this page below the video that’ll take you to a map of the United States. Click on your state, and that will either take you to a match betting guide for that US state or it’ll take you to a partner website which specializes in profiting from match betting in your state.