Matched Betting: What Is It?

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Matched betting is taking advantage of free bet offers and putting bets on events in a way that makes it possible to win regardless of the outcome.

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Since you have considered every scenario, matched betting is purely mathematical and does not include chance. But since it entails taking advantage of sign-up and other bonus offers, bookmakers work hard to prevent it.

Match betting can range from a legal gray area to outright illegality, depending on how it is carried out. However, even its most basic versions sometimes violate the terms and conditions of bookies, therefore it is widely regarded as fraudulent.

When it comes to sports betting and other internet gambling, matched betting involves complex computations and many bets to cover all possible outcomes.

Some will do this through betting exchanges, while others will employ more dubious means.

This is often done by bettors using free bets, which is against the terms and conditions of accepting a free bet. As a matter of fact, matched betting experts frequently engage in bonus hunting in order to locate more possibilities. Multi-accounting for arbitrage and/or matched betting is much more illicit.

Match betting poses a serious threat to the financial stability of operators since most iGaming brands, such as casinos, bookies, bingo halls, and the like, offer online betting markets. This is because persistent abuse can result in substantial amounts of money—often in the hundreds or thousands—being unlawfully obtained by each scammer.

How Do Matched Odds Odds Work?

Get a free bet offer (such as a bonus for signing up).

Meet the requirements in order to receive the free bet (e.g., put another bet beforehand).

Place the free wager (for example, England to win) with the bookmaker.

On a betting market, find the opposing wager (for example, England not to win).

Put your opposing wager on the exchange.

Await the conclusion of the event.

Make money regardless of the outcome (via the exchange or the bookmaker).

While many who try it view matched betting as a kind of loophole, the great majority of bookmakers actively prohibit it from occurring on their platform and keep up their efforts to limit the practice.

What Is Bonus Abuse in Matched Betting?

Because you always use a free or bonus bet to achieve so, matched betting is a kind of bonus misuse.

But not all forms of bonus misuse fall under the umbrella of matched betting: Free spins on slot machines, free bingo games, and no deposit cash incentives at online casinos are also abused. Free bonus cashouts are always subject to rollover limitations, but savvy con artists have also discovered methods to get past them.

Is arbitrage and matched betting the same thing?

No. While they employ comparable methods, matched betting makes use of bookmakers’ free bet offers, whereas arbitrators only compute standard odds.

Bookies often prohibit matched betting, and although arbitrage is discouraged, it is handled on an individual basis. The latter is also more difficult to spot because player and bettor behavior in relation to bonus offers is constantly being examined.

Is It Possible to Lose Money When Matched Betting?

Someone can only lose money with matched bets if they make a computational error. However, matched betting invariably results in losses for bookmakers and gaming operators, which is why it is expressly prohibited on their platforms.

For this reason, they are using more sophisticated iGaming fraud detection systems, which employ technology like heuristics, machine learning, and device fingerprinting to identify and thwart efforts at bonus misuse, which is what matched betting is thought to be.

In the event that the operator finds out and terminates your account, you might potentially lose money while using matched betting.

Is It Wrong to Matched Bet?

In brief, the answer is no—matched betting is not strictly prohibited. It might, however, be against the rules and regulations of an online bookmaker, which could land individuals who try it in hot water. This might involve being denied the ability to withdraw money or possibly facing fraud charges.

It should be noted that although matched betting may not be defined or addressed in an operator’s regulations or terms and conditions, the techniques used to carry it out—such as multiple accounts, using credentials that have been stolen, and abusing bonuses—always will be.

Methods to Prevent Fraudulent Matched Betting

Bookies have long recognized that, in order to protect their operational profitability and ensure that bonus offers achieve what they are intended to do—draw in new, legal players who follow the rules—they must immediately curtail matched betting.

Tightening Up Bonus and Rollover Requirements

Maintaining a careful balance between making sure freebies aren’t readily exploited and keeping them appealing to potential users is necessary. Anything overly restrictive will exacerbate the situation and drive away brand loyalists. Complicating matters even further is the iGaming industry’s fierce competition.

Putting Robust KYC Procedures in Place

Most sportsbooks and other gambling companies now have to follow basic know your customer (KYC) procedures, but there are more measures that may be done to give more clarity than simply scanning a form of identification.

Real-time Risk Rating and Monitoring

The best way for operators to stop matched bettors cold is to utilize cutting edge technology to examine each user and account independently. This entails integrating information about the user’s browser, device, location, provided ID, card information, and other factors with other data points to generate a risk score.

In addition, thresholds may be specified for human reviews or auto-banning. For higher risk scores, heavy KYC procedures will be initiated, whilst light KYC procedures would be initiated for lower risk scores.

Fraud prevention systems are the most flexible and customized option since they are always incorporating new technology and using machine learning to analyze past data as well as learn from situations that get lost in the system.