Matched betting can be done on any mobile or desktop advice. We do, however, advise larger devices such as laptops or PCs.
It helps having a large screen as you often need to be jumping between your bookies, exchange and calculator tab. Having a keyboard and mouse also makes your life a lot easier!
This is usually an easy process. Most bookies have a simple registration process which can be completed in about 5 minutes.
The more annoying part will come where account verification is required.
HOW DO WE VERIFY OUR ACCOUNT?
If you are an Australian citizen and are registered to vote then it is very likely that bookies will automatically verify you using their own verification software.
If this does not apply to you, then you just need to do a few more things manually. All you will need are a few certified documents, such as a copy of your passport and a recent bank statement.
Bookies may have differing verification processes so just always check with their own Ts and Cs.
VERIFY BEFORE DEPOSITING:
We generally advise you to verify your account before depositing.
Once registered, you can contact live chat and ask about verification etc. This just makes one feel at ease before depositing any money into that bookie.
Below you will find the most common terms used in Matched betting — this will be extra betting resources to guide you.
Backing — Placing a back bet on an event means betting that something will happen. Eg backing Australia to beat England means I think Australia will win.
Laying — Betting that something will NOT happen. Eg laying Australia vs England means I think Australia will NOT win. This is done at a betting exchange.
Odds — Odds reflect the likelihood of an event taking place. They also show us how much we can expect in return if our bet wins. Eg if we bet on an event with odds of 5.0 we know $10 will return $50 (5 x 10) if that bet wins.
Liquidity — This is the amount of money available for us to lay our bets in the betting exchange. If there is not sufficient money in the exchange then our bets cannot get matched.
Bonus Bets — These are given to us from bookmakers as part of promotional offers. We can convert these into cash and guarantee ourselves a profit.
Qualifying Bets — Bets placed in order to qualify for our bonus bets. We usually incur a small qualifying loss in the process.
SR — This stands for "stake returned" and refers to bonus bets where the bonus bet stake is included in the winnings. These are not that common.
SNR — This stands for "stake not returned" and refers to bonus bets where the bonus bet stake is not included in the winnings. Almost all of our bonus bets will be SNR. To maximise our profit when we convert these, we target higher odds.
Wagering Requirements — We will more often than not be required to turnover the value of our bonus bets or bonus cash a certain number of times before being able to withdraw our profits. This is called wagering requirements and differs from offer to offer.
Liability — This is the maximum amount of money we can lose when we lay a bet at the exchange. You will see the liability figure in the calculator. Always make sure you have enough money in your exchange account to cover this.
