Think about market liquidity
If there is one thing in particular that frustrates a matched bettor it is not getting their lay bet matched on the betting exchange. And so one way to improve the chance of getting your bet matched is to find a sports market with plenty of liquidity. This is shown in the top right hand corner of the market, where it states the amount of money matched currently in that market.
As a general rule the markets with the greatest liquidity include premier league football games, or any top flight football game such as Champions League etc. Horse racing markets tend to have good liquidity, however this tends to happen closer to the start of the race. You may find if you look at horse racing markets in the morning they look totally different in the afternoon with a significant flow of money just before the start of the race.
Tennis, golf, and boxing also have large sums of money flowing into them, and therefore it is likely you will get your bet matched. However it is worth noting that you will find plenty of markets in these sports that have very poor liquidity, even in football markets. For example, Match Odds, First Goalscorer, and Correct Score markets usually have excellent liquidity however Cards and Corners markets will often have poor liquidity.
Understand the rules
The more you know about the type of sport you are betting on the more likely you are to spot pitfalls and improve your chances of making more profit. Some sports you may find a little harder to learn all the technical jargon and rules, however it doesnt take too long. And also it is worth mentioning that you dont need to learn the jargon, as you can easily make fair amounts of money from matched betting without knowing this stuff but it certainly helps.
So for example, Horse Racing. Now imagine a scenario where you place a bet on the favourite at 2.75 with the bookie, and lay the same favourite at 2.7 with a betting exchange. Fast forward two hours, just before the race starts, and you notice that your bet on the betting exchange now says your lay odds (of your matched bet) are 2.46. This is because of something called ‘Rule 4 deduction’, and its nothing to worry about, but definitely worth knowing about. Essentially it means that if a horse is withdrawn from the same race you bet on, after you placed your bet, it should affect the probability of your horse winning, and so this should be fairly reflected in your odds. If you back and lay that horse you will find that the odds of both your lay and back bet will reduce. And the amount by which your odds drop depends on the probability of the withdrawn horse winning.
So as previously mentioned it is not worth worrying about, but if you want to be on top of your game and make as much money as possible then read up on your chosen sports and the associated betting rules. You will find all of this under our ‘Lessons & Guides’ section, under the Terminology course.
Don’t leave bets unmatched
Unmatched bets means potential risk of extra profit or loss, and we don’t want that, as we want guaranteed profits. The thing that separates a matched bettor from a regular punter is the bet is hedging and risk element is minimised and in many cases eliminated. And so it is very important that you check and double check ensure your lay bet has been matched, and that you’ve bet on the correct market.
With some markets it is not too risky to leave it a little while for your lay bet to get matched, for example Football Match Odds markets. But as a general rule it is always best to get your lay bet matched immediately as you place it, and especially if you a beginner to matched betting. Another word of warning, do not leave horse racing bets unmatched for a long period as these markets can be very volatile (which create plenty of profit opportunities e.g. with Best Odds Guaranteed) and unmatched bets here can cost you a lot of money. On the other hand, horse racing markets due to their volatility present fantastic opportunities to make money from many bookmaker offers, and with little risk. So long as you accept the lay odds currently available and therefore get your lay bet matched immediately.
Some matched bettors set a ‘stop loss’ for their lay bet. So essentially if their lay bet remains unmatched and it odds start to drift against them, they say that they will settle at a slight loss of 5-10%, or odds of 5-10% higher than originally desired, in order to prevent further risk of it being unmatched and potentially larger losses. Remember that this may happen in the absolute worse case scenario, and in almost all cases it will not, however it is worth bearing in mind.
Keep a record of everything
Strong organisation will definitely improve your matched betting profitability. Its pretty much as simple as that. If you quickly note down the event you place your back and lay on, the odds, the amount staked, and the result i.e how much profit was made, then you’ll find you’re well on your way to accumulating larger profits.
You can find a fantastic excel spreadsheet designed to organise your matched bets under the section ‘Tools’. It was made by a third party, and we believe its one of the best way to organise your betting activity.
As we advise you open up multiple accounts with different bookmakers it can be hard to keep track of 50+ balances, especially as they change frequently, and so it is important you keep track of all of them in one place, and an excel spreadsheet is a simple but very effective solution. You may find more complex software solutions to keep track of your bets but the major major downside of these is that it over complicates the process. Speed is key, and you don’t want to spend 2-3 mins writing down unnecessary details of every bet, as you will miss other opportunities, and you’ll find you’re putting in too much time in the admin side, rather than actually making money.Pop us a comment just below with any thoughts or questions and a member of our team will get back to you shortly