matched betting

Matched Betting Canada 2021 [Guide]

Betting is a game of chance, but when it comes to matched betting – the chances to lose money are slim to none.

We’d like to say that matched betting comes with no risk at all – and in theory – that is true.

For starters, to make sure your matched betting game is right on point, you will need to have 3 predispositions: time, patience, and practice.

If you’re eager to learn how to develop these three crucial aspects and wonder what matched betting is, or even if matched betting in Canada is legal – you’ll be able to find all the answers. By the way, yes, matched betting in Canada is legal.

Our team will guide you through everything you need to know – how, where, why, and the funds to start matched betting. Once you get the hang of it, nothing will stop you on your risk-free adventure.

What is Matched Betting?

Simply put, match betting is you placing a bet online, technically two bets, and winning no matter the outcome of the game you just wagered on. If it sounds like a dream, we assure you it is definitely real.

This type of betting can be labelled as risk-free, as you won’t be losing any money. That is, of course, if you play it right.

Now, if you’re wondering why would an online sportsbook allow such a thing and how this practice can be legal at all – you’re thinking in the right direction.

What you might not be aware of yet, is the fact that the online sportsbook will have a hard time figuring out that you have just placed a risk-free bet.

Sports betting sites are aware that some of their free bet packages offered are used for matched betting, but they cannot prevent it if they have no way to prove it. Moreover, even if they have a way of knowing, you won’t necessarily make money on their site from matched betting. Another fact is that not many people take the time to learn how matched betting works.

We can support this by the statement coming from a representative from William Hill, stating that the use of free bets does not threaten the betting industry.

More importantly, matched betting doesn’t require you to possess outstanding gambling skills per se. However, it does incline that you should have some betting knowledge beforehand. If you don’t, you can start with the basics, learn how to read betting odds, find out the bet types, and you shall be good to go.

We will explain everything you might not know, though, including how to read decimal odds, so you shouldn’t worry about not being able to understand our guide.

How Does Matched Betting Work?

A few things need to fall in place for you to be able to practice matched betting. It’s not that complicated as it sounds – you simply cover both outcomes of the sporting event.

Now, if you place a ‘for’ bet on a team to win and another ‘against’ bet on the same team – one of them will surely fail. The catch is to place the first ‘for’ sporting bet using a free bet offer. This means you’d be paying for the one and using the free bet for the other one.

Another key difference is that you cannot do matched betting using online sportsbook sites only. Sportsbooks incorporate a wagering margin in the odds they establish for each game, which is intended to assure their revenue.

This is why you need to use betting exchanges. A betting exchange site will allow you to place the second kind of bet – the ‘against’ bet, also known as the lay bet. Simply put, it is betting against a certain outcome of a sporting event.

Two Parts of a Matched Bet

As we’ve already mentioned, there are two parts of a matched bet. And you need to make sure you play both parts right, so you can have your first successful matched betting experience. The ‘for’ we talked about before is called a ‘back’ bet, and this is the normal type of bet you’d place when there’s risk involved, or so to say. The ‘against’ bet, a.k.a lay bet, is where most people step into unknown waters for the first time. Let’s go into the required depth.

What is a Back Bet?

The back bet is a bet you place for an outcome to come true. It is no different than any other sports bet you’ve placed when you wagered for the Canadian football team to win their Saturday game. You can place a back bet at any online bookmakers that have a free bet promotion available.

Using the free bet offer, you can place the qualifying bet for the match you chose. If the outcome comes true, you will win the free bet value, also known as the free bet amount times the betting odds. If the outcome doesn’t come true, you will lose the bet.

However, you should keep in mind that you actually didn’t lose anything, as you didn’t use your own money to place the same bet in the first place.

Now, the risk-free scenario is created by playing the lay bet.

What is a Lay Bet?

A lay bet is when you wager for an outcome to not happen. And you can only place this kind of bet at a betting exchange site.

The betting exchanges function by bringing together those who place back and lay bets. In fact, the bettors that place back bets are the conventional bettors, while those who stake lay bets represent the bookmakers. A commission is how the betting exchange generates profit.

If the outcome that you just wagered against comes true, you will lose the money. That means you are entitled to pay the gamblers the odds times the stake. You should keep in mind that this means that your initial back bet will be profitable in this case.

If the outcome doesn’t come true, you have a winning bet just as you predicted with the lay bet. You will get paid; however, you will have to pay a small fee to the betting exchange site. The fee is already calculated in the matched betting method, so you have nothing to worry about.

The key to matched betting is that you stake the lay bet in a way that cancels out your back bet, making sure that you are profitable regardless of the outcome of the sporting event.

Risk-Free Matched Bets Explained

The main perk that matched bettors use is the free bets, which are mainly part of promotions created for new customers. What’s more, you don’t necessarily have to be a newbie to create a new account at betting sites – you could just be trying out new betting sites and utilizing their Welcome bonuses.

However, matched betting experts can use other promotions meant for existing customers too. Many betting websites include regular free bets for their loyal bettors, or they have promotions dedicated to the biggest sports championships.

By now, you’ve probably understood the key concepts of risk-free bet placing. You need a sports betting site that offers a free bet deal, and you need a betting exchange site that will enable you to place a lay bet.

That means we’ve covered the basics of risk-free bets, but there’s much more to go over when it comes to matched betting practices.

Many people give up on matched betting when they get to the point where they need to calculate their stakes in order to maximize the matched betting offers.

We’d invite you to keep reading by showing you that making more money – real money – is possible within the gambling industry as well.

Matched Betting: Make Profit from Free Bets

Everyone would want to know how to make more money, yet most wouldn’t think that making money involves betting. We will show you how you can make money from matched betting, including exactly what it takes to do so.

To be clear, you won’t be making a lot of money right away – but the answer to how much money you can make from matched betting depends solely on you and the time you wish to invest.

Bettors will have up to 95% of the free bet value as profit for every matched bet. This is due to the fact that most betting exchanges levy a 5% fee on wins.

By exploiting the Welcome deals, you might make roughly CA$1,000–CA$ 1,500 in the beginning.

Due to the modest change in odds at different betting companies, you may potentially lose a small amount on the qualifying bet. This really is common, and you’ll get your money back once you utilize your bookmaker sign-up offers – the free bet deals.

We will show you a concrete example where you’ll be able to earn profit from a free bet. If you apply the same tactics to dozens of free bet offers available, you could be gazing at CA$1,000s in no time.

The best part, though – the gaming sector is now tax-free, so no matter whether your bet wins, you won’t have to pay taxes for it. Moreover, the deposits you make at various gambling houses do not affect your credit rating either.

Money to Get Started & Long Term Profit

How much money you spend also plays a role in how much you can make money from matched betting.

For starters, you might need roughly CA$200 to start with, although there are bettors that are starting with an initial deposit of CA$10. We’ve already said that you could make around a thousand by simply making new accounts and making the most of the generous sign-up deals.

Nevertheless, matched betting is profitable in the long run as well. If you keep using a few of your created betting accounts, you can make use of the free bets meant for existing customers.

If you placed your matched bets correctly, you could be looking at a CA$600-CA$800 per month. Some bettors have claimed that they make even more, and given that the winnings are tax-free, one might be looking at a monthly salary if they spend more than a couple of hours per day on matched betting.

However, you should be aware that matched betting depends on many factors, apart from the availability of free bets:

  • The money you have to start matched betting;
  • The time you are willing to spend perfecting your matched betting strategy and learning how to use the matched betting calculator;
  • The time you have to look for new betting sites;
  • Availability of qualifying odds;
  • Availability of lay odds provided by the betting exchange;
  • The ability to access matched betting software;

If you are willing to continue matched betting, the good news is that you can place bets on various betting markets. Whether it’s the Premier League game, an NFL game, NBA, or anything else, find the minimum odds qualifiable for new customers, and you are good to go!

Free Bet Promotions: What to Look for?

Free bets are nowhere near being extinct, meaning that the matched betting effect on them isn’t as great as you’d think. This is good news, though – the free bet promotions offered are the reason why matched betting is possible! And William Hill has already confirmed this in one stance – free bets will exist as long as there is demand!

However, you should be careful with the free bets offered, as they all have different bonus terms and conditions attached to them. We’ve already stated that matched betting is time-consuming, but we’ve already accounted for this – reading the bonuses T&C is a must!

Before claiming the free bets promo, you should:

  • Check which games are eligible for the bonus;
  • Check whether you’d be able to place matched bets – check the lay odds;
  • Look for a qualifying bet;
  • Check the minimum odds allowed for the bonus – you won’t be able to place a bet with fewer than the minimum odds stated in the T&C;

One could also use bet credits instead of free bets. Therefore, if you can no longer find sportsbooks that offer free bets, or if you’re looking for some specific market, you could look for bet credits too!

Regardless of what kind of matched betting strategy or bonus you opt-in for, make sure to read the conditions of the bonus before you experience unwanted complications at the online sportsbook!

How to Find and Place Matched Bets

To make matched betting work, you will need to find all the required tools.

First thing first, no matter if it’s matched betting we are talking about or not, you should always make sure that the sportsbook you plan to sign up for is properly licensed and regulated. If that isn’t the case, the no-risk matched betting might go sideways.

If you signed up at a gambling house that will not guarantee to pay you out, you might lose your funds, and that’s definitely not something anyone would want to happen. This is why no matter how good the site looks or how appealing the bonuses seem – always check the license first.

Once you find your online sportsbook, you can follow these simple steps to place a matched bet:

  1. Locate the register button and start the sign-up process;
  2. Once you’ve entered the required data, tick the boxes to accept the T&C of the sportsbook;
  3. Sign up using your credentials;
  4. Head to the Payment tab;
  5. Make the qualifying deposit in order to claim the free bet promo;
  6. Find a qualifying bet, making sure that the odds are above the minimum odds of the free bet bonus;
  7. Use the deposit to place your first matched bet!

Then, the deposited bet will allow you to use the free bet promo, which we’ll get onto in a second.

However, when talking about matched betting, we cannot leave out the betting exchange sites either. Finding a legit site is a must if you plan on making this work! It is time to place the lay bet.

Betting Exchange Sites

Once you find a betting exchange site, you can calculate your stake to back up your initial bet. Betfair is one example of a well-known exchange site. A site like Betfair will do most of the calculation work for you, but you will still need to understand the terminology to know how to play it safe when you’re dealing with matched betting.

It would help if you were looking for a sports bet on the exchange site with similar odds to the sportsbooks. You will more often than not need to select a bet with odds of 1.50 or more to stay compatible with the T&C of the free bet, but you should try to keep them as low as possible.

Matched Betting Tool

A matched betting calculator is going to be your best buddy while learning how matched betting works – and you’ll need to get it right in order for it to be an actual no-risk matched betting adventure.

The matched betting calculator will show you how much money you need to deposit to your exchange site in order to cover the liability of the other bet. If the betting odds are higher at the exchange site than the betting odds at the sportsbook, you will always have to deposit more at your exchange betting account.

There are many matched betting calculators you could use. Most of them will first ask you to choose the type of bet: normal, free bet, or risk-free bet. You could also adjust the mode to simple or advanced.

Next, you should enter the back bet stake you made, the back betting odds, and the back commission of the sportsbook.

Then you simply enter the lay betting odds and the lay commission that the exchange betting site takes – and you’ll know how much you’ll have to deposit to cover the liability!

Matched Betting Strategy

Matched betting, like everything else, requires a sound strategy. However, once you have everything in place, every matched bet will be a risk-free bet.

No-risk matched betting requires consistency, research, and double-checking. Those are the key betting tips.

However, if you are shifting between betting markets often, you’d need to get to know the types of bets you can place for each sport.

Shifting between betting markets is, in fact, required if you intend to find multiple matched bet options a day.

Are Parlays an Option?

Let’s get one thing straight – there’s no way you can make parlays a no-risk matched betting thing.

Sports parlays do make things more exciting; however, this involves an actual gambling segment – and by that, we mean the chance.

Focusing on only two matches is the easiest approach to parlay a matched bet. A properly placed matched bet parlay has a 75% means of earning off if the outcomes are point spreads or over/under bets.

Even though parlaying increases the risk of matched bets, it also increases the possible rewards – the riskier the bet – the higher the payout.

Are Match Insights Required?

Matched betting doesn’t require any match insights.

While insights might be useful for standard sports betting, things are different here.

As we’ve already discussed, we aren’t really concerned with the outcome of the sports event – we are only looking forward to its ending.

Once it ends, one of our bets is surely profitable, or at least we haven’t lost any funds.

The good part is that you don’t need any game insights, and you also don’t necessarily need to follow or know the sport either. It’s all about the numbers.

Therefore, regardless of what happens during the game, you will come out as a winner unless it’s canceled!

Matched Betting Tips

Depending on the market, you will be either making fast decisions, or you’ll have to wait out – and this can vary too, even in the same sport’s market. That is why our team has included a few matched betting tips for beginners:

  • Have both accounts ready for action: the sportsbook and the exchange account;
  • Wager early, and then wait for the sportsbook to change the odds;
  • If you think that many bettors will place the same bet, place your wagers on that moneyline as fast as you can;
  • Having a separate bank account might make keeping track of the matched betting funds easier;
  • Keep your accounts active, so the operators don’t get your accounts suspended.

While matched betting might seem complicated in the beginning, you will be able to get the hang of it in time. However, you should never expect fast or easy earnings. It does require effort and time almost as a standard daily work task, especially if you’re planning to stay in the loop.

Detailed Example of Matched Betting

Here we present a detailed example of how matched betting works. The example is based on the fact that you’ve found a sportsbook that offers a free bet with a value of CA$30.

The First Matched Bet

Register at the sportsbook, deposit CA$10, and you’ll get the free bet. Use the CA$10 you’ve deposited to bet on France with the odds of 2.0 for them to win.

By doing so, you’re staking your first qualifying bet – which grants you the CA$30 free bet promo. You’ll use that one later.

Now, you head to the exchange site, which has 2.1 lay odds for France to win and a commission of 5%.

With the help of the matched betting calculator, you’ll see that you need to wager CA$9.76 to cover yourself for the back bet, which means that the liability is CA$10.74.

We will now look into the two outcomes.

If France wins, your initial bet will bring you CA$20. However, you’ve lost CA$10.75, which means you are 75 cents short.

If France loses, you lose your back stake, but you win the lay bet. Now you’ve won CA$9.27 after you’ve subtracted the commission, which means that you are now 73 cents short.

But hey! Now you have a free bet with the value of CA$30 to play with!

The Second Matched Bet

You can now place your full stake of CA$30 with back odds of 6.0 that Italy will win.

The exchange site has lay odds of 6.1 and 5% commission yet again.

This means that you need to wager CA$24.79, with a total liability of CA$126.43.

Now, if Italy wins, you win CA$150, but you lose the liability of CA$126.43.

In case Italy loses or draws, your total win will be CA$23.55 after the calculated commission.

The Profit

This means that by staking two matched bets, you’ve made a profit of approximately CA$22.

If you multiply this by dozens of matched bets per day – and may never see the end of it!

Advantages of Matched Betting

Matched betting comes with plenty of advantages, including:

  • No matter the outcome – you make a profit!
  • You don’t need any knowledge of the sport;
  • You don’t need any game insights;
  • You can make a sizeable income;
  • It isn’t considered gambling;
  • The wins are tax-free;

It goes without saying – the main advantage of matched betting is that it’s risk-free!

Disadvantages of Matched Betting

There are several disadvantages when it comes to matched betting, too. Among the few are:

  • Finding free bet offers might not always be as easy;
  • You will have to sign up at many online sportsbooks;
  • It’s time-consuming & requires concentration;
  • Withdrawal might not be as fast as expected

The main disadvantage of matched betting is that it’s prone to human error.

Final Word

To make matched betting safe, you need to follow the exact instructions each time, and you should be extra careful with the numbers!

Get one digit wrong, and the no-risk bet will turn into a risky bet in a second.

Nevertheless, once you minimize the errors and you establish a routine – you are good to go!

Using the same matched betting calculator and not more than two bet exchanging sites is more than recommended.

And if you’re looking forward to using matched betting often, you should keep at least a few sportsbooks accounts active.

Even though most online sportsbooks have no policy against matched betting, it would be better if you were to place a few standard bets every now and then so that you escape any potential problems.

Even if the sportsbook is against matched betting, they will stand no chance of knowing if you try to use the account as a standard user would.

If you are already familiar with the topic and you are simply looking for short and direct answers, check out the matched betting FAQs below.

Common Questions About Matched Betting

Is matched betting legal in Canada?

Yes, the matched betting legal status in Canada is just as legitimate as the status of online gambling. Matched betting in Canada is legal as long as you are of legal age, in accordance with the minimum age limit of your province.

How long does matched betting take?

If you’re a beginner, it might take you up to an hour and a half to get started off with matched betting. However, given that it is quite profitable – it will be worth it. The more you practice, the faster you’ll be! The only time when you’ll have to waste some extra time is when a sportsbook requires you to verify your account with an ID before providing you with a free bet.

Is matched betting riskier than ordinary sports betting?

Not only that matched betting is no riskier than ordinary sports betting, but it is completely risk-free! If done properly, matched betting guarantees profit, making it the safest sports betting experience to exist – it’s not even betting at that point, as you aren’t going to lose anything by all means. If you do every step right, that is – and that requires practice.

Can odds quickly change when playing matched bets?

Yes! Odds happen to change quickly, and it depends both on game development and public wagering. That is why it’s essential to know when you should wait for the odds to change and when you should rush in with placing that matched bet.

Can I use parlays in matched betting?

Yes, you could use parlays in matched betting. However, the no-risk matched betting no longer stands true. There’s a way that you could play parlays safer than most people would – but it is under no means completely risk-free. You stand to win considerably more by placing a parlay bet, but the whole point of matched betting is void.

How much money can I make from matched betting?

How much money you make from matched betting depends on how much time you spend placing matched bets. If you place multiple matched bets per day and repeat the match betting every day, you could be looking at a profit over CA$800. Note that it does take time and thorough research before you become profitable.

Can I use multiple accounts when placing matched bets?

Yes! Not only that you can, but you should use multiple accounts when placing matched bets. In fact, you’ll surely need 2 accounts: one to place the back bet and another one to place lay back. You’ll further need other accounts to get the most of the Welcome Bonuses of the online sportsbooks.

Last Updated on November 26, 2021

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