Matched Betting Tutorial - All About Betfair
Why do you need Betfair to do Matched Betting?
First of all, you have to know what's a betting exchange?
Contrary to what happens in other bookmakers, at Betfair (a betting exchange) the player doesn´t bet agaisnt the bookies, but against other players! This is very important to this system, since it allows a player to bet against a team/outcome. So, when a player backs a team/outcome, someone will have to match that bet, betting against (laying) that team/outcome! Or the other way around! So, by both backing and laying the same outcome either the back will win or the lay. If the two bets have very similar odds, you won't get neither losses nor profits!
So how do you win money with this system if you are always making two bets that neutralize each other?
Because these bets lead to a transfer of your balance from the bookmakers to Betfair. Then, we can take advantage of the bonus (sign up bonus, free bets, cashback offers) of the bookmakers making a transfer of the deposit that we made plus the bonus, to Betfair! By transferring all the bonus, you will increase your balance at Betfair gradually! This is how we make profits! With matched betting you don't have to risk the bonus several times at big odds which would probably make you lose them before you can request an withdrawal. You can extract the bonus safely!
It is recommended that the players try to lose bets in bookmakers and win them at Betfair, and not the contrary, avoiding withdrawals from the bookmakers! That's because:
It's a lot faster since if you do that, you won't even have to fulfill the withdrawal conditions imposed by each bookmaker, transferring the bonus faster to Betfair!
And also because if you lose money in the bookmakers, they WILL give you more bonuses that you can also extract and increase even more your balance!!!
Now you ask: "How is it possible to make so much money? If I win, who's going to lose?"
No one loses with this system! And I tell you why:
- You win, collecting the bonuses;
- Betfair wins applying a 5% tax on the bets won (this tax is already accounted for in the calculator, providing you the certain values that should bet in the bookmaker and in Betfair).
- The bookmakers win because you lose money there, winning at Betfair! It's very important that you lose money at the bookmakers, because you give them profits and they will give you more bonus in the future!