What is Double Betting?
Welcome to Double Betting. This guide will take you step by step through the process of matched betting, a technique that allows you to profit at no risk with online sports betting.
We have compiled a glossary of keywords and phrases, in case you don't understand some of the terms mentioned in our website.
We will explain you later how Betfair's Lay betting and betting exchange works, and how different it is from the other bookmakers. In the meanwhile, we will give you an example of matched betting in practice:
Consider a football match between France and Brazil. No matter what side we pick, we only have to make sure that our bets cover every outcome, making it possible to extract free bets to guarantee a profit. As an example, we would choose to bet on France to win at our bookmaker, and place a lay bet on France at Betfair.
By placing a lay bet on France at Betfair, which is to bet that a selection will not occur, we will cover both Draw’s and Brazil’s outcome, whereas with France’s bet on the other side we will have covered all possible outcomes. Hence, either if France wins or not, we will be winning on one side or another.
By matching the odds between the two bets, we are making sure that all the money lost on one side is won on the other, so we've just canceled the chances of loosing money.
So were is the profit coming from?