What is matched betting, you ask? Below, we’ll explain to what matched betting is in Canada and the difference between it and hedging your bets. And we’ll give you the lowdown on how matched betting can be without risk if done correctly.
We will go into detail on when and how to do match betting and the times to avoid placing a matched bet. We will also provide examples of matched betting on different sports and help you find online sportsbooks with the best no-risk matched betting in Canada.
What is Hedging?
So what is hedging and how does it differ from matched betting? Without getting too technical, hedging protects your investment, unlike matched betting, where you’re trying to make an easy buck off the house’s money (more on that later).
In the most straightforward sense, let’s say you have $500 on the Toronto Maple Leafs moneyline (to beat the Boston Bruins outright). The Buds are up 4-1 in Game 7. Although you feel pretty confident in the Leafs to ride on into the sunset, you know the lads wearing the maple Leaf on their chests have no spines. $500 is a lot of money for you; you can’t afford to lose it because of some dumb-ass BS. To protect yourself from financial ruin, you could “hedge the game” by making what some might call a “lay bet.” That would mean you’re betting on Toronto NOT to win the game by backing Boston’s moneyline live.
All you’re really doing is transferring some of your profits to the other side of the match. The strategy works best in a 50/50 proposition, like a two-way money line or point spread. Since Boston’s odds will be high, especially if it’s later on in the game, you can put $50 down on +1000 odds. If Boston comes back, you break even. You could put in an extra $50 to profit either way. It all depends on your risk tolerance.
When Can You Hedge a Bet?
Honestly, there are professional bettors who don’t actually try to pick a side; they hedge via in-game lay betting. That said, for the common folk who can’t afford to bet large amounts of money at a single time, hedge betting is best reserved for betting on games that are really one-sided early on, and both teams are bound to average out in the second half of the contest.
In these scenarios, you’re doing one or both of these things:
- Hedging to protect your investment and/or secure profit.
- Trying to “middle a game.”
When you’re “middling” a game, you’re trying to win your initial bet and find some “middle ground” to win another bet that goes against your initial wager.
Middling Example
Let’s say you took the Pittsburgh Steelers to win by -2.5 against the Las Vegas Raiders. Going into halftime, the score is 23-3 Pittsburgh, and the Raiders are +20.5 underdogs live. You know that the Raiders aren’t going to cover the original +2.5 spread, but there’s a good chance Las Vegas will start to get its offence going. As such, that’ll bite into the Steelers’ lead, and the game ends something like 29-13 Pittsburgh. Therefore, this allows the Raiders to cover the +20.5 in-game spread while Pittsburgh covers its -2.5 pregame spread. That gives you a 2-0 record and doubles your profit. If Pittsburgh chokes, you break even (depending on what you paid to get the in-game spread).
Obviously, this isn’t a strategy we recommend using all of the time, but it definitely has its uses, especially if you’re betting on a risky and unpredictable underdog. Not to mention, you can apply the “middling” tactic to any sport as long as it’s a 50/50 proposition. One of our favourite times to middle a contest is during any big tennis tournament. You can take the +200 underdog pregame. Hope they manage to win the first set. Before the second set starts, grab the prematch favourite for plus odds, and rest easy; no matter who wins, you profit.
Now, many professional bettors will warn against hedging every single game because, in the long run, you’re giving away profit. For professional bettors who wager on sorts to create an income source for themselves, it’s a bad idea to give away profit. There’s a pretty narrow room for error that can turn a profitable bettor into a losing bettor.
That being said, everyone’s situation is different, and how you approach hedging is your call to make. Nevertheless, if you’re betting money you shouldn’t be, do yourself a favour and limit yourself. Gambling responsibly isn’t a suggestion is our books; it’s a requirement.
What is Matched Betting?
We kind of touched on it earlier, but we’ll go into more detail here. Matched betting is essentially taking a free bet that a book gives you (preferably with no rollover/wager requirements) and lay betting it.
Much like hedging, you’re just trying to secure a profit. Most professionals will utilize the matched betting strategy on a 50/50 side, where you can find even odds (+100) for both sides on different books. These situations are few and in between, but they can be done. If the free bet is worth $50, the person will put the free bet on the even odds side for Book 1. In Book 2, they’ll put $50 of their own bankroll on the other side. If the free bet wins, they break even and move on. If the free bet loses, they win their real money bet and are up $50. It’s a no-risk maneuver that can be done with free bets of any size.
If you’re willing to take on a bit more risk, you can also try to “middle” games using the matched betting strategy. If you don’t get your in-game number, you’ll just have to roll with your pregame free bet and hope it wins instead of being guaranteed profit either way.
How Does No-Risk Sports Betting Work?
No-risk matched betting works by betting on both outcomes of a sporting event to win. However, for no-risk matched to net a profit, one of the bets placed must come at no cost to the bettor.
For example, let’s you bet $10 on both point spreads on an NFL game with odds of 1.91. If the point spread is 7.5 (meaning no push option is available), then matched betting both options loses your 80 cents (which is the vig for the online sportsbooks).
As we said earlier, for no-risk matched betting (and no-risk sports betting) to work, most professionals will utilize the matched betting strategy on a 50/50 side, where you can find even odds (+100) for both sides on different books.
However, if you have a free $10 bet, then betting both options and making a profit is possible.
How to do Matched Betting
To make matched bets, you first need to open an account on an online sportsbook.
You need to find a sportsbook offering bonus bets for new users when they create their account and make their first deposit. The amount of the bonus and therestrictions of the bonus may differ depending on the online sportsbook. The standard bonus to look for is a free bet of $10 with minimum odds of 1.40. Sometimes, you can get assisted matched betting refers from your pals. Don’t be afraid to use ’em when you get ’em.
After you have found an online sportsbook with a good bonus, make sure to claim the bonus when signing up. After claiming the bonuses, you can start matched betting profits.
At this part of the process, bettors should compare betting odds before they make their matched bet. By comparing odds, bettors can find their ideal betting line to place their matched bet. There are matched bet services that’ll give you big-brained equations and whatnot, but that usually costs considerable money. Nevertheless, the option is there.
Matched bets are best for point spreads, moneylines (without the option of a draw, if the bet is on soccer), game totals and some game/player props.
How does Matched Betting Work?
To win on matched betting, you need to remember the one golden rule: only bet on events with two possible outcomes. Also, to maximize your chances ofa win, do not parlay your bet. While parlaying bets is a way to make much more money, it increases a bettor’s risk.
If you follow these rules, then you maximize your chances to win. The total amount you can make, though, does depend on the amount and betting options you pick.
The standard point spread and over/under line (with both options typically between 1.87 and 1.95) offer bettors the best opportunities to apply this. However, on these types of matched bets, you will never make more than double your wager. Overall, these are the quickest no-risk matched bets to make to help add to your bankroll, especially if you’re utilizing multiple free bet promotions.
Betting on moneylines is where you can the most significant return, but also risk making no money at all. Let’s say the odds on the moneyline are 1.46 on the favourite and 2.75 on the underdog. If you use your free $10 on the favourite, you will make $4.60 (plus your $10 stake).
Now, betting on the underdog is where you can make the most money. For example, if you bet $14.60, the most you can bet to break even, then it is possible to make $40.15 (which includes your bet) if the underdog wins.
When to Make a Matched Bet
A good time to make a matched bets is typically right after a bettor creates their account. Online sportsbooks may apply your free bet to your first wager, meaning you should start your experience using the website with a risk-free matched bet.
Deciding on what type of matched bet to make (point spread vs. moneyline) is essential. If you are trying to maximize your earnings, then looking for a good underdog on the moneyline is your best strategy. If you are only trying to pad your bankroll, then consider picking a game total or point spread for your free wager.
Matched Betting 101: Expert Tips From Christian Holmes
Matched betting is possible on many sports and markets. Most matched bets, though, are on the most popular sports in Canada, such as the NBA, NFL and NHL.
One way to make more on a risk-free matched bet is bet early on one line and wait to bet on the other. Online sportsbooks will adjust betting odds as the public bets. If one side is receiving the majority of the bets, then the online sportsbooks will improve the odds or line to entice bettors to pick the other option.
If you see a moneyline favourite that you think the public will hammer (place a majority of bets on), bet that option first. Then, as the online sportsbook adjusts, you will get better odds on the underdog. This strategy, also called line shopping, is a way for sharp bettors to maximize their returns.
Matched Betting Tips for NBA Matches
One of the best ways to use a matched bet on NBA odds is on the moneyline. The odds found on NBA moneylines vary the most of the four major sports leagues in North America.
Bet on a home favourite early, then wait for the odds to adjust on the road underdog (even waiting a few minutes before tip-off). This approach is the best way to do matched betting on the NBA.
Matched Betting Tips for NFL Matches
There are plenty of tips on how to bet on football games. However, the most successful way to matched bet on NFL games is on the point spread. NFL point spreads adjust throughout the week.
Betting on one option early and waiting for the point spread to adjust can mean winning both bets is possible. If the favourite opens at -3.5 and you bet on them, then the line adjusts to +4.5 for the underdog, betting on that option means a 4-point win by the favourite pays out on both wagers.
Matched Betting Tips for NHL Matches
Our best NHL betting tips for matched betting is on over/under lines. The majority of NHL games have over/under lines between 5.5 and 6.5.
Most online sportsbooks keep the line consistent but adjust the odds. Betting on the over early and waiting to bet the under is the best approach. Human nature favours the over, meaning the odds on the under closer to game time are better.
Is Matched Betting Legal in Canada?
Is matching betting legal in Canada? Does a bear 💩 in the woods? The answer to both those questions is a resounding YES! If sportsbooks offer these free bet promotions, there’s not much they can do, especially if you utilize different platforms while doing the deed.
In terms of how safe matched betting is, it depends on how often you utilize such tactics on one platform/sportsbook/betting site. If a sportsbook sees you doing this all the time all on one sportsbook, the sportsbook’s traders will say, “We don’t want to give Willy Bob Billy another chance to slap us rednecks silly.” That’ll usually mean you get fewer free bets, and the books might even limit how much you can bet per wager to discourage you from utilizing such tactics.
Is Matched Betting Riskier than Normal Betting?
Done properly, matched betting is much safer than normal betting. The idea behind match betting is to cover both betting options, so that’s a win for a bettor.
To make matched betting safe, bettors need to make sure they place their matched bet on an option with only two possible outcomes, meaning bettors should focus their matched bets on moneylines, point spread betting odds and over/under betting lines.
Matched Betting and Parlays
Some bettors may want to use their matched bets to parlay multiple options. While parlaying makes matched bets risky, it does increase the potential winnings.
There is no such thing as risk-free matched betting when you parlay picks. The best way to parlay a matched bet is to focus on only two events. If the events are point spreads or over/under lines, then a proper placed matched bet parlay has a 75% chance of paying out.
The other even less risky option is to parlay a moneyline favourite, with odds too low to place a free bet on (any favourite with odds of 1.01 to 1.39 on most online sportsbooks).
Bottom line: the more options your parlay, the riskier the bet becomes.
Getting Started with Matched Betting in Canada
If you’re just starting to get into sports betting and will be privy to a bunch of free bet promotions as you open accounts at sportsbook, the time will never be better to start matched betting. It’s a quick and relatively painless way to build up your bankroll.
Nevertheless, although matched betting is 100% legal in Canada, some sportsbook aren’t afraid to bite the hand that feeds. For you, that means when you’re matched betting/hedging/middling, always use TWO books to perform the deed. Otherwise, if you make your bets on one platform, you’ll get limited quicker than The Penguin ratted out Sofia Falcone (and that was done pretty quickly).
Matched Betting FAQs
Matched betting is essentially taking a free bet that a sportsbook gives you (preferably with no rollover/wager requirements) and lay betting it. No-risk matched betting works by betting on both outcomes of a sporting event to win. However, for no-risk matched to net a profit, one of the bets placed must come at no cost to the bettor.
Of course, you can make money matched betting. It’s all about finding the right opportunities and capitalizing on them.
No, it’s 100% legal. However, some sportsbooks might be quick to limit you if you’re using this strategy on one betting site rather than multiple books. For example, you make both your free bet and “lay bet” on one sportsbook.
It depends on how much your free bet is for. If it’s something like $10, no, you can’t make $1000 matched betting. If you get a free bet that’s $1000 or more, hell, yes, you can make $1000 matched betting.
Most professionals will utilize the matched betting strategy on a 50/50 side, where you can find even odds (+100) for both sides on different books. These situations are few and in between, but they can be done. If the free bet is worth $50, the person will put the free bet on the even odds side for Book 1. In Book 2, they’ll put $50 of their own bankroll on the other side. If the free bet wins, they break even and move on. If the free bet loses, they win their real money bet and are up $50. It’s a no-risk maneuver that can be done with free bets of any size.
Yes, it is. However, bettors must stick to the rules of matched betting. Learning the methods and executing them correctly is all part of what makes matched betting risk-free.
Otherwise known as gnoming, the practice of using multiple accounts is a no-no. Bookmakers will flag your account if you’re found to be doing this and your account will be banned. While the bookmakers will close your account, it isn’t technically illegal.
Bookmakers have the liberty of verifying your identity as part of their anti-money laundering protocol. However, these checks won’t affect the user’s credit rating at all.
