What is a Matched Bet and how can it work for you?
When it comes to betting offline and online there’s one key difference – the offers.
The sheer wealth of available promotional offers and bonuses mean that players have every opportunity to benefit when they partner with a virtual betting hub. Of course, the only issue with some of these offers is that they are not particularly well known, and this lack of understanding can cause some players to miss out over time.
A Look at Matched Betting: How does it Work?
One of the most commonplace online promotions revolves around matched betting, while this is arguably the easiest to comprehend for beginners. In simplistic terms, the terms of this promotion dictate that your chosen online bookmaker will match the first, second or third bet that you place, upto a specified percentage and value. This will vary depending on the specific promotion, but it will always translate into some form of free wager of gameplay.
For new customers, matched bets are usually 100% up to a specific amount, meaning that an online bookmaker will essentially reward you with a free bet of the same value. So if you open your account and make a £25 wager, the bookmaker will match this exactly, leaving you with an additional £25 bet that can be used according to the existing terms and conditions. All matched bets typically have a “minimum odds” limit that you are required to bet on, and this is usually set at around 1.5 or evens.
Occasionally, you may be offered a 50% matched bet by an online bookmaker, although this is typically reserved for the second or third bet of an existing customer. This will usually require a larger initial bet, as players will need to commit more in order to unlock the value of the free wager. If you are offered a 50% matched bet on a wager up to the value of £25, for example, you would need to place £50 in order to get the most from the promotion. If you placed a bet of £30 instead, your free, matched wager would only amount to £15.
In very rare instances, you may be offered a 25% deposit match, although this is a rare promotional gimmick that is hardly ever used to target new customers. The principle of this wager works exactly the same as before, although your free bet in this instance will be a quarter of your initial investment. Subsequently, you may be required to bet even more to unlock a matched wager up to a desired value, which in turn reduces the appeal and the potential return available.
The Last Word
Clearly, matched bets of 100% (or above) offer the greatest value to punters, but these are only usually available to new players. It is therefore worth comparing the market for the best matched bet promotion before choosing an online bookmaker, while you should also constantly look out for new offers as they are published. Without doubt, the matched wager remains enduringly popular and when leveraged successfully can translate into valuable and potentially lucrative free bets.