Learn Some Important Betting Terminologies And Then Proceed Further
Posted: Jun 30, 2016
When you enter the world of betting or cricket betting, you should know all the betting terminologies. However, it is very important for you to know about two types of bet which allow matched betting to work. There is a back bet, which means betting for a certain outcome to come true. For example, "I bet England will win" is a backing bet. If it comes true, you win the bet and the winnings. If England lose or draw, you lose your stake. You can place a back bet at any bookmaker. Then, there is a lay bet, which means betting against a certain outcome to come true. For instance, "I bet England will not win" is a lay bet. If they lose or draw, you win the bet. You can only place a lay bet at a betting exchange. Matched betting works by cancelling out the risk on the 'back' bet at the online bookies by betting against yourself at the same odds (known as 'laying' a bet) which you can do at a betting exchange. In other words, you are 'matching' your bet.Following your first or 'qualifying' bet, you will then be awarded the free bet by the bookmaker. This is where the profit is made. Quite simply, you repeat the process: bet using the free bet and then lay the bet. Whatever the result is, you are guaranteed to make a profit. For each matched bet, you will be left with up to 95% of the free bet amount as profit. This is because betting exchanges usually charge a commission of 5% on winnings. You may also make a very small loss on the qualifying bet due to the minor difference in odds on each website. This is normal, and you will recoup this when you use the free bet.
Anyone can learn how to do match betting and, in theory, there is no risk involved because you are covering yourself by betting for and against the same event.However the risk comes when mistakes are made so, once again, you need to double check everything and follow the steps exactly. On rare occasions free bets do not always come through right away, so just be patient. Once you have understood the process, you can then continue matched betting at many online bookies with free bet offers which can quite quickly land you a lot of money without risk. It is also worth knowing that depositing at gambling websites does not affect your credit rating. For more such details on cricket betting or to get some nice free cricket betting tips, it is best to log in right now!
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