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There are many places to place your bets on the internet, which means that competition is fierce. You can leverage this high level of competition to your advantage by exploiting a (fully legal) loophole in the bonus system: matched betting.

When you become a member at a new bet exchange or sportsbook, you will essentially always get some sort of bonus. It may be a 100% match bonus, where you get the same amount as your first deposit in bonus money. This money can be used to bet with, but has certain terms and conditions for withdrawal. Usually, this means you have to turn the entire amount over a certain number of times before you can make a withdrawal. They often have certain requirements for odds (usually between 1.5 and 2.0).

Let’s say you deposit $300 and get your 100% deposit bonus for a total of $600 to bet with. You then have to turn over the entire amount (your deposit and your bonus) three times before you can withdraw the bonus money, so you would have to play for $1800 in total. In other words, there’s a big risk involved – but we can mitigate this risk by hedging our bets. Bet against yourself at another exchange.

The process is relatively simple:

  1. Register accounts with at least two betting sites, with an offer for a matched bet, bonus money or a free bet (for example; a 100% bonus)
  2. Find a sport with little or no draws (such as baseball)
  3. Find a match where the odds are in the ratio of 2.0-1.92 for either team to win (2% spread)
  4. Bet the entire amount (stake + bonus) on the team with the lowest odds
  5. Make the opposite bet on the other account

You get 2.0 times the money on one outcome and 1.92 on the other. This essentially means you have a 2% spread if you do a full hedging of your bets – i.e., you will lose 2%. Now, you bet the full amount ($600) on the team with the 1.92 odds. If you win, you’ll get $1152 (1.92 x $600 = $1152).

Now you take that amount and divide it by the other odds (1152 / 2 = 576) – this is the amount you need to bet on the other site (and the other side) in order to win the same amount (2 x $576 =$ 1152). When the game is over, you will have lost all the money in one account, but there will be $1152 in the other one. This means you’ve gotten a 92% percent return on your investment, no matter what the outcome is, since you bet 1176 in total, but only $600 of your own money.

Now you can move on to the next site and the next bonus. Some sites will also give new bonuses to existing players. The goal is to turn over the bonus until you meet the requirement, whether it’s 3 times, 6 times or more. This means that you most likely need to win several times with the same account, but you will only lose 2% (the spread) per time, so it would take quite a while to lose it all.

By signing up for more accounts and using the same method over and over, more and more of the accounts will “die” and be emptied, until the entire pot is collected in one account. If you meet the requirements, it’s time to cash out!

Of course, this can be a time-consuming and somewhat tedious process, but it’s essentially risk-free as long as you do it right. Make sure to read all the requirements, terms and conditions carefully, as the bet exchanges don’t enjoy being exploited and thusly try to close any loopholes. If you’d rather play for fun than with mathematics, we recommend SvedalaCasino.

Image source: commons.wikimedia.org

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