Common Matched Betting Problems – Solved!
Matched betting is one of the most popular ways to make money online, and for good reason. While the concept initially sounds somewhat confusing, matched betting is a genuine, viable way to earn extra income for your family… but that’s not to say the process is simple.
While the core facts of matched betting are relatively easy to grasp – you make money from offers posted on gambling sites – many people struggle to turn the theory into a reality. Below, we’ve detailed the most common problems people experience when matched betting, as well as workable solutions that can help you overcome these issues once and for all.
Problem #1: Feeling like you’re gambling
Many people naturally shy away from matched betting due to the presence of the word “betting”. This is completely understandable, as gambling is definitely not a good way of making money, so many people are inherently nervous about the whole concept.
So, let’s be clear: matched betting is not gambling. Rather than focusing on the word “betting”, focus on the word “matched” instead – the core concept of matched betting is to match every bet you place. There’s no wait-and-hope, no risking your funds; if you do everything right, you’ll always see a return.
Problem #2: Confusing terminology
To someone who has never bet before, matched betting involves terminology that is entirely alien to them. Back, lay, qualifying loss, trigger bet, risk-free bet… and that’s very much just the tip of the iceberg.
The only way to deal with this issue is to focus on understanding what you need to understand when you need to understand it. You don’t need to know what a risk-free bet is if you’re looking to use a standard “bet X get X” offer, so don’t try to learn. Focus on understanding the basics of the specific offer you are using and slowly build your knowledge and understanding piece by piece.
Problem #3: Not understanding odds
The British odds system is, frankly, confusing: 4/1 doesn’t mean much to anyone unfamiliar with the practice, after all. The oddity of odds can make many people shy away from matched betting, as the concept seems so incredibly opaque.
There is, however, good news: you don’t need to understand the fractional form of odds to matched bet. All matched betting is done using decimal odds; you can adjust the settings at your bookmaker to reflect this, or use the likes of https://www.oddsconverter.co.uk/ to calculate from fractional to decimal manually.
Decimal odds are far easier to understand; odds close to “1” mean something is very likely to happen, and higher numbers reflect eventualities that are more unlikely. So if you have always found fractional odds confusing, worry not; you don’t need to understand them to matched bet.
Problem #3: Technology issues
Matched betting is, by its very nature, technology intensive. If you don’t have a good internet connection or the right hardware, the process is far more complex than it needs to be.
As a result, it’s best to ensure you start your matched betting journey with the following in place:
- A reliable internet connection. Much of matched betting relies on a swift ability to place a bet and then lay it as quickly as possible in order to avoid odds shifts that can ruin your calculations. To achieve this, you need a reliable internet connection; if yours isn’t the best, then visit the likes of www.cable.co.uk/broadband/deals/ to consider packages that may be more suitable for your needs.
- At least two devices. You can matched bet on a single device, such as a laptop, but it’s clumsy; you’ll need to go back and forth between the bookmaker, your exchange, and your odds matcher in order to place a single bet. Wherever possible, look to split tasks across two devices. For example, use your laptop for the bookmaker bet and odds matcher, and your phone to control your exchange.
- A scanner or digital camera. Every so often, a bookmaker will ask you to verify your age or identity. To do this, you’ll need to supply photographs or scans of documents such as your passport or a utility bill, so ensure you have the equipment to do this before completing your first offer.
Problem #5: Worry about making mistakes
Matched betting is often described as “risk-free”, which it is… if you do it correctly. While the process of backing and laying bets is risk-free, there is always the possibility of human error.
The best way to handle this is to take your time when placing bets, so you can go back, check, and double-check you’ve got the right numbers in the right places.
In order to give yourself the time you need to check your bets, keep the following in mind:
- Avoid betting on horse racing. Horse racing odds can shift incredibly quickly, and a simple jump from 4.2 to 4.6 can ruin your calculations. If you’re new to matched betting, avoid horse racing for this reason.
- Don’t bet close to match kick-offs. The closer to kick-off, the higher the chances of significant odds shift. Try to bet three-to-four hours before kick-off, as the odds will be far more stable, and you’ll have more time to check and double-check your bets.
- Place bets directly through your odds matcher. There are a number of online services that offer the ability to place a lay bet directly through the odds matcher. These options are well worth using, as they eliminate the need to manually find the right event and market, which in turn reduces the risk of errors.
Matched betting is a great way to make money online, but it takes time for the process to become familiar and simple. If you do find yourself struggling further, then there’s plenty of support to be found via Facebook groups or online forums – so don’t be afraid to ask questions, as there’s a willing community just ready and waiting to help you make a success of the venture.