How To Avoid Common Mistakes That New Matched Bettors Often Make

Matched betting is supposed to be a low-risk gambling activity, so why do some players still lose money? Well, for many players, especially beginners, it all comes down to inadequate information. Unlike in traditional games, many losses in matched betting don’t come from luck but from avoidable mistakes.

This article explains what these common mistakes are and how to play without losses. Firstly, however, let’s look a little deeper into what matched betting really is.

What is Matched Betting?

It’s always a rookie move to jump into matched betting without understanding how it works. But interestingly, that’s what many people do. Matched betting is not like the traditional betting that players know. Rather, it involves two opposing bets: a back bet with a bookmaker and a lay bet on a betting exchange. A back bet is a bet placed on an outcome, and a lay bet is one placed against the occurrence of the back bet.

The goal is to cover all possible outcomes. Ordinarily, this has higher chances of winning rewards than just guessing outcomes; that’s why it is believed to be low risk. This notwithstanding, several new players miss rewards when they play without understanding the mechanics. Now, let’s look at the common mistakes to avoid.

Common Mistakes to Avoid as a New Matched Bettor

Even with careful planning, new matched bettors often stumble on simple errors that can cost them money, so it’s worth knowing what to watch out for.

Inputting the Wrong Figures

Matched betting relies heavily on accuracy. Sometimes, these inaccuracies are a product of human errors; other times, they’re a product of sudden odd changes on exchanges. For example, if a player places a bet on team A to win with certain odds on a bookmaker and then places a bet on team A not to win on an exchanger with the wrong odds, when the game plays out, the player might make losses rather than profit.

Another mistake to watch out for here is that of fast fingers. Sometimes, you might want to place a £50 bet, only to punch in £500 by mistakenly adding an extra 0. As you can see, even a small mistake can shortchange a guaranteed profit.

To avoid these mistakes, always use a matched betting calculator. You can use https://www.oddsnet.com/ to double-check every input before you place any bet. You can also quickly verify your stakes and odds to make sure your bets stay accurate and your profits safe.

Poor Bankroll Management

Many new matched bettors often underestimate how much money they need to play a game. No doubt, most times, funds used to lay bets are gotten from bonuses or free bets, but you’d still need enough funds to place the back bet. You also need funds to cover the exchange liability. Many players make the mistake of placing all their money into one bet, starting with too little money, or trying to make big money too quickly. This can affect your bet and, in worst-case scenarios, your betting account.

To avoid this, start with a bankroll that has a realistic amount in it. Also, it’s important to note that exchange liability can sometimes temporarily lock up funds. Overall, it’s better to build rewards gradually rather than rushing to higher winnings with small bets.

Wrong Market Selection

In sports events like football, there are hundreds of teams playing every match day. This can result in confusing matches. Some bettors may back a match result but go on to lay a different match on the exchange platform. A common mistake here is selecting the wrong team due to a similarity in their names. You know, matched betting works when both bets are perfectly matched.

To ensure the right match, slow down and confirm the event, the market type, and the team or outcome. Players can take this even further by confirming the start time.

Ignoring Betting Exchange Fees

We mentioned this earlier, but we’ll have a deeper look in this section. Betting exchanges make their money by charging commissions on player winnings. Many beginners often forget to take note of this. As a result, they don’t get as much profit as they expected, or they turn a small profit into a small loss. Let’s say John placed a £50 back bet on an outcome, and then, with a £10 bonus, he placed a lay bet against that outcome with an expected reward of £60. If the lay bet plays out but the exchange’s commission is £15, he has not made a profit.

This is why players should know the commission rate of the exchange and always include it in their calculations. There are calculators to use to set the exact fee percentage.

Falling for Deceptive Offers

Humans naturally desire opportunities to gain more from doing less. Some platforms know this, and they use it to exploit unsuspecting beginners. At first, the bonuses for lay bets can appear big, but what might come with them are complex wagering requirements, short expiry times, and minimum odds that are too high.

Whether you’re a beginner or a pro, be sure to read all the terms and conditions of an offer carefully. If an offer seems confusing or overly complicated, skip it. There will always be another opportunity.

What’s the Way Forward?

Matched betting gives players the opportunity to escape the volatility of traditional betting. By placing bets on an outcome and placing lay bets against the outcome, players can earn rewards from different outcomes. This, however, doesn’t exempt players from losing money if they don’t avoid the mistakes mentioned in this article.