10 Matched Betting Mistakes to Avoid (Bigger Profits)

matched betting bet365

While many focus on winning, many matched betting mistakes could easily be avoided – improving profits drastically.

It’s the non-sexy truth that doesn’t get enough attention but the key to highly profitable matched betting is to get the highest possible returns for the least possible time.

Here we take a look at five easy improvements the majority can make instantly…

(1) Wasteful Matched Betting – A Logical Long-Term View

Matched betting isn’t rocket science, let’s be honest. You don’t have to do anything fancy or clever, changing your perception a little and being consistent is more than enough.

Think about matching losses exclusively for a second.

If you think beyond your next two bets it’s easy to see that they soon add up. The table below says it all…

matched betting results

If you’re a part-time matched bettor, completing just 10 offers per month, that means you’ll place 20 bets in total.

If you’re using Betfair exchange as the place to lay off your offers, you’ll likely be losing at least 75p-£1.50 each time. For those in a hurry, it’s more likely to be £3 or so.

Ouch! That’s a weekend break for two wasted every few months.

But I get it, you don’t want to spend another 20 minutes to find an efficient match…

The solution is simple, reducing qualifying losses to zero with a platform like BetConnect doesn’t cost you any extra time.

(2) The Tracking Trap – Data Abuse…

Experienced matched bettors will be aware of programs like IE Snare. Being careful with which IP addresses, devices and browsers you use for your matched betting is wise. The bookies are using algorithms and tracking cookies to watch us all. Don’t be flagging yourself as a matched bettor unnecessarily.

Furthermore, be very careful which links you click on when signing up for free bets.

In the past, thousands of matched bettors have all seen their accounts gubbed on the same day. Nobody knows for sure, but there’s been suspicion that some matched betting services have sold out customer data to the bookies. Pretty shocking if they have really…

However, I know for sure that OddsMonkey’s matched betting service goes to extreme lengths to make sure that doesn’t happen. Any links to the sportsbooks are sent via randomized third-party redirects.

You could take this one step further, of course, sourcing the offers via their service and then finding them on Google.

(3) No Strategic Plan (A Few Tips Here)

Failing to plan is planning to fail as the saying goes. This is extremely important with your matched betting for several reasons…

You’ll find different offers and larger free bets depending on:

  • Time of year
  • Major sporting events (like the World Cup)
  • Bookie marketing campaigns
  • Types of bets

If you’re only interested in the best offers, it’s a good idea to set up some Google alerts or check out a matched betting calendar. Let them do the hard work for you!

free bets betfair

Making a note of when the enhanced offers start leaves you in a better place for the next time around. Creating habits and being prepared is crucial to any type of success, so form yours in a way that ensures maximum efficiency whilst fitting around your daily life.

(4) Suspended Working Capital:

Getting your betting balance caught up in a sportsbook when they start asking for documents sucks. To some extent, it’s part of the process though, so get them prepared too!

There’s nothing worse than looking at a juicy offer when your money is tied up elsewhere. One solution to this is to lay off your bets with Matched Betting Pro, one set of checks for effective lay matches and less hassle is ideal. Plus, you’re laying at the bookie’s higher margin prices so there’s more chance of the money staying in your exchange account.

I wouldn’t advise picking higher lay prices in an attempt to keep your balance in exchange accounts, it doesn’t make sense mathematically, and on that occasion, it goes wrong – your whole balance is tied up.

(5) Keeping The Balance – A Matched Betting Advantage.

Lastly, a little matched betting tip outside of the technicals.

Stop to think for a moment, what’s more important? Blowing your profits on something fancy at the weekend, or expanding your matched betting balance. To some degree, it’s personal preference, but numerically, it makes sense to expand that balance and give yourself more freedom to complete offers. Just like having a small float is a disadvantage, having a big one is useful.

Spending money to make money is far harder than working for it…

The choice is yours, but keeping that balance for future growth is a wise move. A matched betting mistake that so many people overlook!

Related: 5 Matched Betting Tips to Win Regularly

(6) Showing Your An Obvious Matched Bettor With Your First Bet

The first thing to note is that bookmakers don’t like matched bettors.

For the simple reason that matched bettors are looking to make a long term profit by exploiting offers and promotions. Unfortunately, this doesn’t match up with the bookmaker’s aim of making a long-term profit from their customers.

To maximize the profit we can make from a bookmaker, we want to stay under the radar for as long as possible.

This means that when we open an account we don’t want to make an initial bet that screams “Hey look I’m a matched bettor!”

What do we mean by this?

If you are based in the UK and the first bet you make is on the Swedish second division or an obscure Australian cricket game this is the best qualifying bet you make. Then you shouldn’t do it. Yes you might maximize the profit on your first initial free bet however long term this is a mistake. It is much better for your bookmaker accounts long term health to make your initial bet on the Premier League or a big horse racing meeting at the weekend.

(7) Placing Back Bets Before Lay Bets

Next up on the list is making sure that you place your back bets before you play your lay bets.

This is because when we are looking to make initial qualifying bets or maximise our profit from a free bet. We are usually taking odds which a bookmaker is top price on (Compared to other bookmakers.)

When a bookmaker is offering top price on a selection it is usually going to attract more attention and money being bet on that selection. This also means that the bookmaker is more likely to cut this price then if it was offering odds that were the market average.

If we are to place our lay bet first and then the bookmaker cuts the odds they are offering. We then have to close our position on the betting exchanges for a loss and find a new qualifying bet.

Placing the back bet first avoids this happening.

(8) Not Having Enough To Lay Off Your Liability

Third on the list is making sure you have enough money to cover your liability on the betting exchange. This is a common error for beginner-matched bettors.

For example, lets say you have £20 free bet to use up today from Bet365 and they are offering Leicester at odds of 8.0. They are 8.4 to lay on the exchanges.

Which is a great match for a free bet and returns £16.35.

The liability however to make that overall profit would be £123.65 on Betfair. Which is important to note as a beginner you may be starting off using a small bankroll. Higher odds will often give a better return however they also require more working capital.

(9) Leaving Free Money On The Table

The next mistake that people often make with matched betting is don’t develop the ability to profit after initial sign ups. There is still a lot of opportunity to make money after sign up offers.

Sign up offers should just be an introduction to how matched matched betting works and to build your initial bankroll. After this however this is so much more money to make.

  • 2up Offer
  • Extra Places
  • Arbitrage Betting
  • Plus EV Casino Offers
  • Value Betting Bookmaker Boosts

Often people do the initial sign up offers available and then think that’s all there is to matched betting. However utilizing all the different matched betting strategies can allow you to make a lot more money, pushing your profits into the tens of thousands and possibly six figures with enough work.

(10) Not Using Software

One of the biggest matched betting mistakes you can make is not investing in a service that will provide software. This software will enable you to spot and take advantage of all the opportunities available.

Our suggestion would be to use Oddsmonkey (click here).

Oddsmonkey offers a free trial for anyone who wants to try them out, they provide software which pinpoints the best offers available on a daily basis.

If you really want to make as much money as possible from matched betting then using Oddsmonkey is a must.

Read Next: 5 Matched Betting Tips to Win Regularly

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