Frequently Asked Questions

Most Common Questions
1. What is Matched Betting?

 

Simply put, matched betting is a way to transform those free bets offered by the bookmakers and turn them into real cash. The betting strategy that is applied is ruled by statistics and maths rather than by actual chance itself, giving you a completely no-risk option for betting.

 

When I say this is absolutely risk-free, I mean it.

 

With matched betting, you match the bet that you place at an online bookmaker, with one that you place at the betting exchange. You will then ‘lay’ a bet against the result you backed in your first bet. The bets you have placed will now cover all eventualities.

 

 

2. How Does Matched Betting with ODDSY Work?

 

Step 1: Find an Offer 

 

My website lists an extensive range of offers to make it easy for you to locate the best online betting site promotions. This list is updated monthly.

 

·         Offer found: Bet £10 and get £20 back

·         In order to get the £20 back, you need to stake £10 of your own money

·         This is referred to as a qualifying bet.

 

Step 2: Place your bet. 

 

This needs to be a bet where you ‘back’ an individual or team to win. For example, you bet that England will win their next football match. 

 

Step 3: Log into your new betting exchange account, and place a ‘lay’ bet.  

 

With matched betting, you match the bet that you placed in step 2 at the betting exchange by betting against that result. Using the example above, this would mean you bet that England will not win their next game. This covers both the loss and the draw.

 

The bets you have placed will now cover all eventualities, and although you won’t win any money, you will not lose any either because one bet will cancel out the other. However, you have now unlocked the £20 back as part of the offer you found in step 1.  

 

Once the event has occurred, you will then be paid your bonus by the bookmaker.

 

3. What is a Free Bet?

 

A Free Bet entitles you to place a bet at the sportsbook's expense. The sportsbooks pay the stake, and the user keeps the winnings to the extent they exceed the original stake.

 

The stake of a free bet is not returned. Please see a working example below.

 

Example - On a £5 free bet with odds of 2.50: if the selection wins, the user gets £7.50 (a stake of £5 x odds of 2.5 = £12.50, minus £5 = £7.50) without any risk for the user whatsoever. 

 

4. What is a Deposit Bonus?

 

A deposit bonus is an amount offered by the sportsbook as an incentive. In nearly all cases, this amount or ‘bonus’ will top up your initial deposit with a percentage of that same deposit.

  

Example - If a sportsbook offers a 100% deposit bonus match up to £200, you will get twice your deposit. If you deposit £5 (usually the minimum deposit), you will get £10. In this case, to take full advantage of the offer, you should deposit £200 to get £400. Unlike free bets, the bet stakes from deposit bonuses are returned.

 

Note: With free bets, you can withdraw your money straight away if you win. Nearly all deposit bonus offers are likely to have rollover requirements that prevent you from withdrawing your funds immediately, some of these will also require you to make several deposits or bets before you can receive your bonus payout.

 

People often get confused between the two types of promotional offers that betting sites offer. A deposit bonus tends to have a lot more terms and conditions attached to the offer, whereas with a free bet, you get exactly that, a free bet.

 

5. How Do I know What Teams to Bet on?

 

This system works with any teams on any match as long as it follows the rules below:

 

-          Bet on a team or a draw in the sportsbook

-          Bet against that same team or that same draw in the betting exchanger

-          Choose a draw with odds between 3.0 and 4.0

-          Make sure the difference in odds isn't too big between the sportsbook and the betting exchanger, ideally 0.2-0.3, no more than 0.5.

 

Example

 

-          Team A vs Team B - Draw odds = 3.5 (sportsbook) 3.8 (exchanger) = Good

-          Team A vs Team B - Draw odds = 3.5 (sportsbook) 4.3 (exchanger) = Bad

 

As long as these rules are followed, you can bet on any match.

 

6. How Can I Contact You?

 

The quickest and easiest way to get in touch with me is by completing the contact form  on my website. I will be back in touch with you as soon as possible!

 

7. Is your Website Up to Date with Betting Promo Deals and Free Bet Offers?

 

I frequently search for new offers for online betting, and I do my very best to ensure every promotion on my website is wholly verified and accurate. I update the list of offers at least once a month.