Your Guide to Making Money with Matched Betting (2021)

Matched betting is a betting strategy allowing you to make money from the various free bets and offers that online bookmakers provide. It is sort of a risk-free technique, as instead of relying on luck, you cover a particular event’s all potential outcomes by placing two bets. The result is that you win, no matter what the outcome is.

Best Bookies for Matched Betting (2021)

  • Free bets of ₹3000 on ₹1000
  • No minimum wagering requirements
  • Super-fast withdrawals
  • Exchange has only 1% commission on winnings
  • Range of promos and offers ideal for matched betting
  • Straightforward sign-up process
  • Bet credits up to Rs 4000 for new users
  • Generous minimum odds to qualify for the bonus
  • Some of the best reload offers in the market
  • 50% Matched free bet up to ₹5000
  • Welcome bonus includes a free bet of ₹2000 for all punters
  • Applicable on minimum odds of 1.80
  • High betting limits and a low margin, excellent for the serious bettor
  • Competitive and sharp odds that are the closest to the true probability of the outcome
  • Online cricket betting glossary and other betting resources

Best Sites for Matched Betting in India (2021)

  1. Casumo
  2. 1xBet
  3. bet365
  4. Royal Panda
  5. Pinnacle

What is Matched Betting?

Matched betting (aka back bet matching, or lay bet matching, or double bеtting) is a technique you use to profit from the generous free bets and incentives (like promos and welcome bonuses) that the best sports betting sites in India provide.

For instance, “bet with us and get ₹ xxx as free bets” or “get a matched free bet up to ₹xxx on your first deposit”.

Royal Panda Matched Free Bet

You must have come across bookmakers brandishing such deals on their websites. The concept of matched betting is built on these betting offers. It is typically considered zero-risk and foolproof as the entire strategy rests on the application of simple mathematics instead of chance. Also, that’s precisely why many also call it no-risk matched betting.

The only way you can lose is if you commit some silly and avoidable error, like entering the wrong stake on the betting slip.

Please remember that for no-risk matched betting in India, you will have to:

  • Sign up with multiple reliable bookmakers offering free bets and welcome bonuses
  • Nine times out of 10, you will have to qualify for the free bonuses by making a minimum deposit and placing a qualifying bet with your money
  • You need an account with a betting exchange. More on that later
 

Simply said…

The idea of no-risk matched betting is to turn free bets offered by bookies into real cash. You can do that by wagering on all the potential outcomes of any sporting event; i.e., you place multiple bets. When you do this, you theoretically will make a profit every time for the simple reason that it no longer matters which team wins or loses. You have all the bases covered.

Is Matched Betting in India Legal?

As we explain through this article how no-risk matched betting works and the kind of money you can make from it, it might seem too good to be true. But don’t sweat; matched betting in India is 100% legal. You need to be over 18, of course, but that’s with gambling in general.

Now, please realise that while gambling is legitimate in the country, it’s got its peculiarities. We have an in-depth explainer on whether online betting is legal in India, so you can check that out.

That said, no-risk matched betting in India is legitimate and considered an extremely effective way to make money online (and do so safely). You must only be of the legal age and sign up with legit bookies. Offshore operators can provide their services to Indian punters so long they let bettors deposit and withdraw using rupees.

READ: Top 10 INR Betting Sites

As you can imagine, most bookmakers aren’t really the biggest fans of no-risk matched betting, the simple reason being that they can’t make money off you. Some might even go so far as to consider it ‘bonus abuse’.

But don’t worry. No-risk matched betting in India isn’t breaking any law. Graham Sharpe, the ex-media relations officer at William Hill, had once confirmed that there’s nothing illegal about matched betting and that bettors could use their free bets any way they wanted.

How Does No-Risk Matched Betting Work?

First, you have to understand the essential concepts of ‘back’ bet and ‘lay’ bet to engage in no-risk matched betting. But before that, the basics:

  • As part of their welcome offer, several bookmakers dole out free bets to get new users to sign up with them. Existing customers can avail these freebies as well, typically on a ‘bet INR X and get INR X’ basis.
  • Now, with regular sports betting, there’s, of course, no guarantee that you will win the bet. However, with matched betting, there is.
  • That’s because with no-risk matched betting, you are eliminating the risk of backing a particular outcome (back bet) by placing an equivalent wager at the same odds against the very same outcome (lay bet). This way, you guarantee a profit irrespective of which team/player wins. It is this ‘back’ and ‘lay’ betting that allows you to profit using free bets.

Let’s understand in slightly more detail what ‘back’ and ‘lay’ bets are.

Back Bet

Here, you back a particular outcome. Which means, you want the result of the match/event to pan out that way.

For example, you can wager on the top cricket tournaments worldwide. Suppose, you’re betting on India to defeat England. This is a ‘back’ bet.

• If India wins, you win your bet and get returns (stake x odds).
• But if England wins or the match ends in a draw, you lose your bet, hence, your stake.

 

Lay Bet

Here, you’re betting against a specific outcome. That is, you’re betting that something won’t happen.

Suppose, in IPL betting, you’re wagering on CSK to not win their game against the Delhi Capitals. This is a ‘lay’ bet.

• If CSK loses or the match ends in a draw, you win your ‘lay’ bet.
• You lose your stake if CSK wins.


REMEMBER

  1. You can place a ‘lay’ bet only at a betting exchange like Betfair. These work by matching your bet with other punters. So, in essence, you are squaring off against other bettors and not any traditional bookmaker. The betting exchanges make money in the form of a nominal commission.
  2. You will be awarded free bets following the ‘qualifying’ real money bet, which you fork out from your pocket. Once you unlock the free bet, that is when the profit starts to flow. Simply repeat the process – place a ‘back’ bet with the free bet and then lay the bet.
  3. Use an online matched betting calculator to know exactly how much you have to stake with the bookie and the betting exchange.

Understanding No-Risk Matched Betting in Action

Here is a step-by-step example of how no-risk matched betting in India works:

Matched Betting #1

STEP 1 –  Suppose a bookie is offering free bets worth ₹200 when you stake ₹50. You can turn this into real cash by placing a couple of matched bets.

STEP 2 – You visit the bookmaker website, and let’s say, deposit and stake ₹50 on India to win a match at odds of 2.0. Now, because this wager unlocks the ₹200 free bet, you call this the qualifying bet. This free bet comes into the equation later.

Now, the betting exchange has ‘lay’ odds of 2.1 on India to win and levies a 5% commission

STEP 3 – Using a matched betting calculator, you know that you need to stake ₹48.78 to ‘match’ the ‘back’ bet. This results in a liability (the money you must have in your betting exchange to cover your lay bet) of ₹53.66. In other words, your ‘liability’ in matched betting is the amount you pay out should the lay bet lose at the exchange.

STEP 4 – If India wins, your ‘back’ bet comes through, and you win ₹100 (odds@2.0 x ₹50). The ‘lay’ bet is unsuccessful, though, and you lose ₹53.66 (which was your liability in the previous step).

STEP 5 – If India loses, you lose the ‘back’ bet and your ₹50 stake. However, your ‘lay’ bet is successful, and you win (₹48.78 minus 5% commission) = ₹46.34.

So, no matter the outcome, you have now unlocked the ₹200 free bet

We will now repeat the exercise, but this time with the free bet.

Matched Betting #2

STEP 1 –  Suppose you choose a horse racing event. You select your preferred bookie and bet ₹200 on Horse A to win at odds of 6.0.

The betting exchange has ‘lay’ odds of 6.1 on Horse A to win and charges a 5% commission

STEP 2 – With a matched betting calculator, you learn that you have to stake ₹165.29 to ‘match’ your ‘back’ bet. This results in a liability of ₹842.98. Irrespective of whether your selection wins or not, you make a good profit.

STEP 3 – If Horse A wins, your ‘back’ bet comes through, and you win (odds x stake minus the stake, since free bets are ‘stake not returned’ = ₹1000). Your ‘lay’ bet is unsuccessful, though, and you lose the liability of ₹842.98. Your profit is ₹157.02.

STEP 4 – If Horse A does not win, the ‘back’ bet doesn’t come through. But you don’t really lose anything since that was a free bet. However, your ‘lay’ bet comes through, and you win (the stake minus commission) = (₹165.29 minus 5%) = ₹157.03. That’s your profit.

How Much Profit Can I Make?

For every matched bet, your profit will be almost 95% of the free bet amount. Betting exchanges usually charge 5% as their commission. So, that’s there.

Therefore, a ₹100 free bet translates to a ₹95 profit.

You may make a marginal loss on the qualifying wager due to the slight difference in odds offered by the bookies. But that is a part of matched betting, and you can make up once you unlock the free bet.

Of course, how much you can make from no-risk matched betting in India depends on:

  • The time you’re willing to invest
  • Your matched betting stake
  • The free bets and ‘back’ bet odds that bookmakers offer
  • The lay odds by betting exchanges
  • Your matched betting skill set

What’s the Risk in Matched Betting?

With no-risk matched betting in India, you’re laying a bet to effectively negate or cancel out your back bet, ensuring that you win irrespective of the outcome. So, mathematically, matched betting is foolproof, entails zero risk, and is meant to generate profit.

However, although theoretically sound, we think the ‘100% risk-free’ part could be slightly misleading in practice, considering there’s always room for human error. In some cases:

  • Free bets could be a little difficult to come by
  • You may end up entering an incorrect stake or betting at suboptimal odds
  • Your ‘back’ and ‘lay’ bets may not be matched properly as the odds might change in that little window you have while betting with the bookie and the betting exchange
  • You could miss out crucial details in the bookie’s offer terms and conditions. For example, details related to minimum odds required, number of selections, minimum stake, and other applicable wagering requirements.

But, as you see, these are avoidable slip-ups, really. For instance, consider the first mistake. You should just have a little patience and comply with the bookie’s terms and conditions. Eventually, you will be able to unlock the free bet. Likewise, with the second issue, all you need to do is double-check your stake and odds.

Easy and Actionable No-Risk Matched Betting Tips

We could have given you 20 matched betting tips here, but what help would that be? We’d have only risked complicating things all the more. So, we decided to keep things simple and have got you these six strategies. We reckon these are everything you ever need for no-risk matched betting in India.

  1. Careful with the betting exchange

Remember, in matched betting, you place the ‘lay’ bet with a betting exchange. The exchange charges a nominal commission — which is their income – on your winnings. Ergo, the less commission you pay, the more winnings you get to keep.

For example, we reckon 1xBet and Crickex are two of the best betting exchanges, hands down. Especially 1xBet, which, as of the day of writing, only keeps a 1% margin, undoubtedly one of the lowest by industry standards.

What works for 1XBet?

     2. Double-check everything

This is one of the most crucial no-risk matched betting tips. It has been my saving grace and will save you too from making unnecessary and unforced errors (tennis fans, anybody?) and missing out on that sweet profit.

The two main things you must watch out for during no-risk matched betting are:

  • Bookie terms and conditions
  • Your bets, both before and after you’ve placed them

REMEMBER, REMEMBER

  • Bookmakers don’t like giving out free bets. There’s always some type of a qualifying wager required to unlock the freebie. Bookies have their terms and conditions made in such a way that it can be confusing for bettors, mainly beginners. Therefore, it is imperative that you scan through all the terms and conditions, which will ensure you get that free bet without a lot of hassle. Remember, with no-risk matched betting, the devil is in the detail.
  • Place the ‘back’ bet first, followed by the ‘lay’ bet. And double-check everything. Unless you do that, you keep the door ajar for sneaky yet costly mistakes to creep up. Remember, human error is inevitable at some point, so it pays to be doubly sure of everything, particularly during no-risk matched betting.

        3. Hunt for similar odds

Another important no-risk matched betting tip and one that directly impacts your profit is picking markets that have closely matched odds.

Remember, you are placing two bets – one with the bookie and the other with the exchange. So, you will want to find the closest possible match between these two markets. The closer the odds are, the more money you can make.

       4. Use multiple bookmakers

In the present day and age of ultra-competitive online betting, each bookie offers countless promos to incentives to onboard new users and retain existing customers.

With no-risk matched betting, you can regularly eke out a sizeable profit from these offers. Therefore, it only makes sense to complete as many new offers as possible to keep the free bets coming. Which means that you should register with multiple sports bookies in India.

However, please remember that not all bookmakers are created equal. Keep an eye out for the dubious ones. These days, fake reviews are rampant on the web, meant to swindle you out of your hard-earned money. Don’t fall into that trap.

         5. Start with sign-up bonuses

When you’re starting out, the whole concept of no-risk matched betting may seem slightly confusing. But that’s no reason to worry; we all have got to start somewhere.

We recommend you start with sign-up bonuses first and gradually work your way up from there (to the other slightly more complicated ones like price boosts and extra place offers). These are the most profitable and easiest matched betting offers to complete, and they also allow you to build your bankroll.

The heftier your bank account, the more offers you can polish off at any point in time, eventually raking in more money.

           6. Create a separate account

While this isn’t essential, you can do with a dedicated bank account for no-risk matched betting. This will help you get organised and separate your regular income from your matched betting winnings.

And lastly, have fun. No-risk matched betting can really be risk-free (no disclaimers); all you need to do is follow these simple tips.

Matched Betting in India: Cracking the Jargon

When you start with no-risk matched betting, it could be a little challenging to bust the mumbo jumbo.

ARBArbitrage bet
EVExpected value OR Estimated value
FBFree Bet
FSFree Spins
KYCKnow Your Customer
MBMatched Bet
QBQualifying Bet
QSQualifying loss
RFRisk-free
RTPReturn to Player
SNRStake Not Returned
Football-specific
2UP2 Goals up (used for bet365)
ACCAAccumulator
AGSAnytime Goal Scorer
BTTSBoth Teams to Score
CSCorrect Score
FGSFirst Goal Scorer
FTFull Time
HTHalf Time
Horse Racing-specific
BBLBeaten by a length
BOGBest Odds Guarantee
EWEach-way
LATLLead at last
SPStarting Price (odds at which the horses start)

Did You Enjoy This?

Then check out the other betting guides at CricketBettingAdvice. Are you a cricket buff and want to know how to bet on cricket? Or looking for the best cricket betting sites to get started? Whatever it is you want, we’ve got your back.

We explore every nook and cranny of the web in our pursuit of up-to-the-minute and actionable sports betting strategies, tips, the best, dependable bookies, top welcome bonuses, and every other ready reckoner you can imagine. All our efforts are bound by the same objective – to provide you with the most exhaustive sports betting content on the internet.

Matched Betting FAQs

Is matched betting in India legal?

No-risk matched betting in India is perfectly legal and an effective way to make money online safely. Even leading publications like The Guardian and The Telegraph have featured stories on matched betting. You only need to be of legitimate gambling age (above 18 years) and have accounts with offshore bookmakers legally operating in the country.

Is matched betting in India safe? What are the risks?

No-risk matched betting is safe and generally considered zero-risk. Since you place multiple bets to cover all potential outcomes of an event, theoretically, it will generate a profit every time as the ‘back’ and ‘lay’ bets cancel each other out. So, it doesn’t matter which team wins or loses; you will ‘win’ your bet anyway.

Which bookies are good for no-risk matched betting in India?

For no-risk matched betting, you first need to have a list of all the bookmakers offering you lucrative sign-up bonuses and other promos. We have already put together a list at the onset of this article. But off the cuff, we’d go for the betting exchange at 1xBet, and suggest taking advantage of the offers at the likes of Casumo and bet365.

How much can I make from no-risk matched betting in India?

Typically, your profit will be around 95% of the free bet amount. That’s because betting exchanges usually charge a 5% commission on your returns. That said, how much you can make from no-risk matched betting depends on a few factors like the quality of free bets, ‘back’ and ‘lay’ bet odds, and your stake.

Is no-risk matched betting in India free?

In the beginning, it isn’t free. You will need to deposit a certain amount and place a ‘qualifying’ wager to unlock the free bet, which you can then use to place your ‘back’ and ‘lay’ wagers. However, you should easily offset this expense and make a profit soon.

When you start earning decent returns, you can then reinvest a particular portion of that into matched bets in the future. So, once you start doing this consistently, you’ll not have to spend anything from your regular income anymore. It is then that no-risk matched betting becomes technically ‘free’.

How long does it take?

You can participate in matched betting for as long as you like. Once you’ve exhausted all the welcome bonuses, you can then use the promos and deals on offer for existing customers – reload bets, for instance.

Do I need to be an expert in gambling for no-risk matched betting?

No. You need not be a sports buff or an expert gambler to earn good money from no-risk matched betting in India. You only need to follow the step-by-step guide we’ve put together in this article, and you should be good.

That said, it doesn’t harm to know the fundamentals of the sport you’re wagering on (or the basics of sports betting, for that matter).

Can I register multiple accounts with the same bookmaker to keep the free bets flowing?

No, that would be duping somebody, and we can never support such a thing. Don’t do that. Bookmakers have stringent laws on these and can ban you for life should they ever find out that you’re registered with different accounts. For starters, they check your name, IP address, and other details. So it wouldn’t take a lot of time for them to figure out.

Do existing customers get free bets?

Oh yes. Please understand that the sports betting space is incredibly competitive, and bookies dish out reload offers and other promos almost every other day to keep existing users interested, especially if you haven’t been on their website for a while.

Will matched betting impact my credit rating?

Of course not. No-risk matched betting (or any other form of betting) has no bearing on your credit score and will not impact your ability to avail a loan in the future. Sure, bookies might run a ‘soft check’ on you to assess if you are a genuine ‘prospect’, but that’s about it. Bookmakers aren’t lenders.

CricketBettingAdvice Final Say

So, here are the main points we covered in this article:

  • No-risk matched betting almost guarantees a profit
  • Free bets are pretty easy to find
  • You will need to have accounts with multiple bookmakers
  • You must have an account with a betting exchange
  • Qualifying bets and minimum deposits are generally required

Now, it may not make you Richie Rich, but no-risk matched betting in India can line up a decent chunk of change inside your pockets. The basics are easy to understand, and profits add up quickly. Frankly, it is worth it, considering all you need to do is invest a little time in it. And, of course, the real icing on the cake is that you won’t lose money since you will have all the outcomes covered.

Sure, you will have to wait for the match to finish. But just think about all the free bets you could turn to real cash. Who said the best things in life aren’t free!

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