One of the main questions we get asked at Oink Odds is “how do I know what to bet on?”
The great thing about matched betting is that it doesn’t matter what or who you bet on, because when you back and lay your selection, you end up covering all outcomes!
There are however, three key things you need to think about when choosing your bets, if you want to maximise your profits and avoid getting gubbed…
Are you betting on a major event?
The Premier League, Champions League, FA Cup and even Championship are the most popular and regular competitions in the sporting calendar. When you’re starting out, we advise that you should stick with backing a team to win or draw in one of these competitions – just keep it simple. You don’t want to be betting on a 3-1 win in the German 4th division, as you’ll end up sticking out like a sore thumb!
During the summer months when there isn’t any regular domestic football you may have to look to other sports to place your bets on. International football, horse racing, and cricket are all good options.
Are you placing a Trigger Bet, or a Free Bet?
If you’re placing a trigger bet you want to try and bet on markets with lower odds. This will keep your liability low and leave you with more money in your betting exchange if you want to attack multiple offers.
With a free bet you want to be betting on higher odds – this’ll make you more profit when taking advantage of your free bets! Check out the table below to see how backing at laying at odds of 5 will make you an extra £5 profit compared to at odds of 2.
|Lay Odds (+10%)
How far apart are the back (bookies) odds from the lay (exchange) odds?
The closer your back and lay odds – the more money you’ll make from matched betting! The maximum difference between your back odds and lay odds should be +10%, so if your back bet is at odds of 3, your lay bet odds should be no more than 3.3! The lower the lay odds the more money you’ll make from your free bet, and the less you’ll lose when placing trigger bets.