Do you want to know more on no risk betting? Our article on Matched Betting – A Beginner’sGuide can help.Matched betting is a low risk form of betting made on sporting events, used to make guaranteedprofits. Also known as ‘bonus hunting’ or ‘no-risk betting’, this betting strategy lets you use freebets and other types of promotions, to get guaranteed profits by having all the outcomes of amatch or event covered.When employed correctly, Matched Betting can make you profits from free bets and otherincentives provided by bookmakers. It is considered to be risk-free, since it is based on well-calculated mathematical equations, rather than on chance.In this guide, we explain extensively what matched betting is, how it works, and everything elseto know. What is Matched Betting?Matched Betting is when you cover all the outcomes of an event to qualify for free bets andbonuses for an amount that is next to nothing. After gaining a free bet, you repeat this process toget a fixed profit. Identifying a Matched BetA matched bet occurs when you back two contrasting bets to minimize your risk. Here is anexample below:● Placing a BACK – you bet FOR a sports result at a betting company.● Placing LAY – you are betting AGAINST a sports result at a betting exchange likeBetFair. Lay means that you are betting against an eventuality by accepting stakes on itlike a bookmaker.The two bets you stake will cancel each other out, causing you to break even. There is no profitor loss, but since you are gambling to make profit, you should mix Matched Bet with a Free Betoffered by a bookie.Back BetA back bet is the most traditional betting form, when you back a bet, you are saying “I predictthis will win”. If the selection you made wins, then you also win your bet and the profit that comes with it aswell.Lay BetA Lay bet is when you bet against an outcome in a match. If the team you wager on doesn’t winthe match, then you automatically win your lay bet. Similarly, if the result ends in a draw, thenyour lay bet also wins because the team still didn’t win the match. How Does Matched Betting Work?Matched Betting uses lay bets to cancel out any risks posed by a back bet. To remove all risks,you back and lay against the same result. You won’t lose your bet because you have coveredevery outcome.You can make profits from this system using free bets offered by bookmakers and otherpromotions, but this guide covers free bets only because it is simpler that way.In matched betting, your first bet is a “qualifying bet”, this is what qualifies you to earn a freebet. Your qualifying bet won’t earn you any profits and you’ll likely lose money in it.When you receive your free bet from a bookie, use the back and lay method to make profit. Sinceyou are now playing with another bettor’s money for half of the bets, you keep the winnings.Doing the above, removes all risks and assures you an easy payout, no matter the result of anysporting event you wager on. Furthermore, matched betting constantly offers you ways to earnfree bets that will form the basis of your betting income.Finally, to understand matched betting you need to also understand lay commission and liability.Lay CommissionLay bets require a little percentage of your winnings as commission. This commission is howbetting exchange platforms make their profits and how bookmakers make their own profits bygiving you unfair odds.Note, betting exchanges offer more profit return on your bets often, even with you paying acommission.Liability Liability is the amount you stand to lose on a lay bet. For instance if you placed a £25 bet with abookie at odds of 3.0 (2/1), you stand to win £50 profit. The bookie’s liability here is £50. Whenyou lay bets, you are the bookmaker. Note, you won’t technically lose this money when you usethe back and lay technique. How To Do A Matched BettingMatched betting at first looks impossible and difficult, but it is something you can grasp easilythrough practice. We used the scenario below to explain how to do a matched betting:● A known bookmaker is offering you a £25 free bet when you bet £25 of your ownmoney.● You sign up and deposit £25.● Next, you use an oddsmatcher to find a good event to bet on. Choose a bookmaker andthe minimum odds you want to bet on in the oddsmatcher filters, to get a good range ofbet choices.If the oddsmatcher says that Manchester City have back odds of 2.0 to beat Tottenham, the layodds for the result are 2.02.You place your £25 bet on Manchester City, then go to Betfair Exchange and LAY ManchesterCity not to win at lay odds of 2.02.So, how do you know how much to lay? Simply use a lay betting calculator. In the calculator youinput the information you already have to calculate your lay stake:● £25 stake● 2.0 back odds● 2.02 lay odds● 5% lay commission on Betfair ExchangeWhen you put all of this in, the calculator will tell you what your lay stake should be. If you laidfor example – £25.38, that’s what your lay stake is.The calculator also shows your liability will be. In this case, at odds of 2.02 with a stake of£25.38 your liability is £25.89. That is the amount you must have in your exchange balance toafford this qualifying bet you want to lay.You can expect two possible outcomes: ● Manchester City wins and you get a £25 profit from the bookmaker and lose £25.89 onthe Betfair Exchange.● Or Manchester City draws or loses, and you lose £25 from the bookie, but gain £24.11profit on Betfair Exchange which is the lay stake, minus commission.● Either way your bet goes, you’ll lose 89 pence. This loss is known as a qualifying loss. What is a qualifying loss?A qualifying loss is the money you lose in a matched bet to unlock a free bet. In the example weexplained above, you lost 89 pence, but gained