14 Biggest Beginner Matched Betting Mistakes To Avoid

To err is human. But still, we’d prefer not to.

And when you first start Matched Betting, you’ll probably be particularly worried about screwing up. One of the biggest advantages of Matched Betting is that it’s risk free, so long as you follow the instructions correctly. So what if you make a mistake?

In most cases, there are ways to correct an error, so there’s probably no need to panic! But the best option is simply not to make an error in the first place, and the best way to achieve that is to be aware of the potential pitfalls in advance.

We’ve compiled some of the most common Matched Betting mistakes and explained what they are, why they’re a problem, and how to make sure you avoid them.

The 14 Most Common Matched Betting Mistakes

1. Placing your lay bet before your back bet

New matched bettors often wonder why exactly this matters. You’re placing two bets designed to cancel each other out - aren’t they roughly equivalent?

Not really. As a general rule, you’re placing a fixed amount (say, £5 for a qualifying bet, or a £5 free bet) as your back bet, and your lay bet is calculated based on the odds to match it.

Odds can sometimes change quite quickly, however, and inevitably at some point you’ll find that the odds have changed between the placing of your first bet and your second.

If you’ve placed your back bet first, you can simply adjust the lay odds in the calculator and place your lay bet with the updated odds without any difficulties. If you’d placed your lay bet first, however, it would be far more difficult to adjust the back bet to avoid excess losses.

Solution: Don’t forget always to place your back bet first.

2. Forgetting to check the terms of an offer

Bookies will often place restrictions on the terms of an offer, and you need to know what they are before you go ahead and start placing bets.

The most common things to miss are the minimum odds and the number of selections for a bet builder or accumulator bet. You may also need to have made a deposit with a particular payment method (usually a debit card).

It sounds straightforward enough to check the terms and stick to them, but we’re all human, and capable of doing incredibly silly things from time to time. I once opted in to a snooker-based offer and, with great confidence, went on to place a qualifying bet on darts, then wondered why my free bet hadn’t been credited.

There can also be quite narrow restrictions for the promotion dates, or a requirement to place your qualifying (or free) bet on a particular event - but so long as you’ve paid attention, you’ll know exactly what you need to do.

Solution: Always double check the terms of an offer before you place your qualifying bet.

3. Mixing up the names of events/competitors (especially horses)

This may sound like too basic a mistake to make, but you should always double check both the event and the competitor you’re betting on, particularly with horse racing.

There are a number of races at each racecourse on race days, and it isn’t difficult to mix up a 15:45 and 17:45 race, or even to mix up similar courses like Newbury and Newmarket (that’s one I’m definitely guilty of on occasion).

And with the sheer number of race horses competing in races, sometimes their names will be similar enough to cause confusion. Always check that both the name of the horse and the odds match up with what you’re expecting, and you shouldn’t ever end up placing a bet on the wrong one.

Solution: Double check the details of your bets before you place them.

4. Forgetting to change the calculator settings between Normal and Free Bet mode, or using the wrong calculator

Hopefully, you’d notice before actually placing your bets if the calculator was in the wrong mode - the qualifying loss/profit figures would look quite odd - but nonetheless, it’s best to double check.

When moving on to using the advanced calculators, you should always make sure you understand exactly what they’re designed to do before using them. Newer matched bettors should work through the easier offers to build their confidence before moving on to more challenging ones that require advanced calculators.

For example, the Racing Refund, Bonus Lock-in and Refund If calculators all cover fairly similar situations, so it’s important you understand the differences between them. Each calculator has its own guide, which we strongly recommend reading in full before you begin.

Solution: Make a habit of selecting the calculator mode every time you use the calculator - even if the default ‘Normal’ mode is the right one - so you can’t forget to change it when you need to.

5. Forgetting to check the available liquidity in the exchange

When you find a really close match at great odds, it can be all too easy to get carried away and place your back bet before you’ve checked the availability in the exchange.

It’s such a disappointing moment when you attempt to place your lay bet only to discover that there’s a total of £2 available at those perfect odds, meaning you have to settle for worse odds and less profit, especially when it was so easily avoidable.

To avoid similar small tragedies, use the ‘Availability’ filter in the Oddsmatching tool, and set it to something comfortably higher than the rough amount you want to lay. There’s always a chance that the availability will decrease just as you’re trying to bet, especially on very popular events, but this is much less likely to happen with a healthy amount of liquidity in the market.

Solution: Use the ‘Availability’ filter whenever you use the Oddsmatcher, so that only matches with enough liquidity are shown.

6. Trying to bet with insufficient funds in your account

This one almost seems too obvious to mention, but nonetheless it does happen. Experienced matched bettors tend to keep significant sums in their exchange accounts, so it can be easy to forget that you might run out if you place several bets with large liabilities.

Given the speed at which odds can change on some events, you really don’t want to have to top up your exchange account having already placed your back bet, causing a potentially unprofitable delay. So, always do a quick check that you’ve got plenty of cash available in your exchange account - handily confirmed for you on the Outplayed Oddsmatcher if your accounts are linked - before you start placing your bets.

Solution: Keep track of your cash, and top up your exchange accounts if they get too low.

7. Placing an unmatched or partially matched bet

Placing an unmatched or partially matched bet can be a consequence of number 5 - there being insufficient liquidity in the exchange. An unmatched or partially matched bet occurs when you go ahead and place your lay bet at those odds regardless.

Your bet is unmatched because there isn’t currently anyone who’s placed a back bet at those odds to match your lay bet to. It’s possible that your bet will be matched as the event draws nearer, but it’s safer to cancel the unmatched portion of your bet and try again, placing the remainder at whatever odds have enough availability. Otherwise, you risk your bet remaining unmatched, which could result in an overall loss from the bet.

Solution: Ideally, use the ‘Availability’ filter to avoid placing an unmatched bet - but if you do end up with your bet not fully matched, our Fixabet tool can help rectify the error.

8. Being too obvious as a matched bettor

Matched bettors aren’t too popular with bookies, funnily enough, and they use every tool at their disposal to detect behaviour indicative of Matched Betting.

So don’t make it easy for them! Focus on popular events that you’d expect genuine punters to be betting on. You may have found an incredibly close match on Swedish second division football, but the small amount of extra profit you might make on that particular game isn’t worth potentially losing your account.

For more tips on how to blend in, take a look at our guide to avoiding being gubbed.

Solution: Stick to major events as far as possible. If you don’t already support a particular football team, it’s not a bad idea to start supporting one - and placing bets on them every so often.

9. Not keeping track of your bets

It may not sound very exciting, but it’s important to keep a record of all the bets you make, whether you use Outplayed’s handy Profit Tracker or a spreadsheet of your own.

It’s easy to become confused if you’re betting frequently, and having detailed records ensures you never miss any free bets you’ve earned, or forget to check on the outcome of an event. Especially with horse racing, it’s important to have a record of your bet, so you can go back to the bookie and check the results.

If your horse ended up not running, for example, your bet would have been voided both at the bookie and the exchange - for a free bet, you’d usually need to place it again. Meanwhile, in the event of a Rule 4 deduction, your profits may have been a little lower than expected - or in the case of Best Odds Guaranteed being invoked, they could also be significantly higher.

Solution: Use either a Profit Tracker tool or your own spreadsheet to keep track of your betting activity.

10. Not keeping track of your cash

Similarly, you need to know where your money is. Although it can be a pleasant surprise to find an unexpected tenner lurking in one of your little-used bookie accounts, it’s far more sensible to ensure you have a record of all your deposits.

As you become more experienced, you’ll probably end up maintaining a reasonable sum in all your most-used bookie accounts, to save yourself having to make constant deposits and withdrawals, but you’d be wise to keep a note of how much you have with each of them nonetheless. To make this easier, Outplayed include a balance sheet in your account to keep track of exactly where all your money is.

Solution: Use a spreadsheet or our handy balance sheet to keep your records up to date

11. Trying to win all your lay bets

Winning too much can be a trigger for gubbing, so some matched bettors reason that the easiest way to avoid this is never to win your back bets. After all, if your matched bets always win on the exchange side, the bookie will only see that they’re making money from you, and consider you a good customer.

The problem with this is that it means you end up placing all your bets at very high odds, in order to reduce the likelihood of the back bet winning. But that doesn’t mean that the back bet never wins, and when it does win at high odds, a large chunk of your money has gone straight back to the bookie, leaving you at square one.

Although you should be careful about behaviours that might identify you as a matched bettor, you should bear in mind that real gamblers will win at least some of their bets, so you don’t always need to lose to blend in. You’re better off placing a few mug bets to divert bookie suspicion.

Solution: Place a mug bet, that isn’t tied to an offer, from time to time, to look more like a regular punter.

12. Withdrawing too much too soon

When you start seeing profits from your Matched Betting, it’s very tempting to spend them right away. However, it’s a much better strategy to build up your bankroll first. With a larger bankroll, you’re able to make the most of whatever offers come your way, which will add up to significantly higher profits in the long term.

It’s up to you to decide the point at which you feel you’ve got enough money built up to be worth withdrawing it and spending it on whatever you’ve been working towards - a holiday or a car perhaps, or just extra funds to tuck away for a rainy day - but whatever you decide, make sure you leave enough in your bankroll to make more profits in the meantime.

Solution: Set yourself a minimum threshold for your balances (for example, £300 in an exchange) and only withdraw when you’re over that balance. This will allow you to enjoy your profits without harming your ability to make more of them.

13. Rushing, or complacency

If you’re new to Matched Betting, the idea of becoming complacent is probably quite hard to imagine. When they first get started, most people double, triple, quadruple and quintuple check everything before they bet, just in case they missed something on the first four passes.

But as with anything, the more Matched Betting you do, the easier it gets. The vast majority of mistakes, including most of those listed in this article, stem from rushing, paying insufficient attention, or becoming complacent. No matter how experienced you become, it’s important to remain careful, and not to place bets when you’re distracted or in a hurry.

Solution: No matter how experienced you come, remind yourself regularly to be careful! And don’t carry out your Matched Betting when you don’t really have time for it.

14. Gambling for real

This is perhaps the biggest potential danger, and the most important thing to avoid. Matched Betting is not gambling, but it does put you in touch with the gambling world, and for some people that can be a strong temptation.

If you’ve placed a back bet at high odds and it ends up winning, it’s easy to look at the comparatively small profit you’ve made from the matched bet and reflect that if you hadn’t matched it you’d have ended up much, much better off. But you’d be forgetting about all the high odds back bets that didn’t win, which is exactly the trap the bookies are hoping you’ll fall into.

Bookies make money because real gamblers pretty much always lose. If that weren’t the case, they wouldn’t be in business. As a matched bettor, you have to be disciplined to avoid becoming just another punter yourself.

If you’ve struggled with a gambling addiction in the past, we strongly advise against taking up Matched Betting. It may not be a form of gambling itself, but it’s close enough to be unsafe for anybody at risk of falling prey to a gambling addiction.

Solution: If you find that your Matched Betting is tipping into gambling for real, get help. GamStop are a great place to start if you feel as though you’re losing control and need to get back on track.

Tips To Reduce Your Chances Of A Mistake

1. Keep good records

2. If you’re a member of a Matched Betting site such as Outplayed, follow the step-by-step instructions for an offer closely. They check all the terms such as minimum odds on your behalf, so if you follow along you won’t go wrong.

3. Don’t bet when you’re pushed for time

4. Double check the odds before placing a bet

5. Make use of the filters on the Oddsmatcher (especially Availability and Minimum Odds)

6. Keep track of your available funds

Can A Mistake Ever Go In Your Favour?

It does occasionally turn out that an error will work in your favour. For example, you might find that you’ve made an unlayable back bet that ends up winning, resulting in pure profit.

However, the likelihood is that a mistake will be to your detriment, not to your benefit. Even if you discover a mistake that’s resulted in a greater profit than expected, you should never rely on getting lucky. Just be glad that you escaped without losing any money, and take extra care not to let it happen again!

What To Do If You Spot A Mistake

If you realise that you’ve made a mistake, don’t panic. A lot of mistakes are fixable, especially if you’ve followed our general guidelines.

Our Fixabet calculator allows you to fix any mistakes with overlaid or partially matched lay bets, so in the majority of cases you’ll be able to salvage the situation. And if you find it tricky to work out what you need to do to fix your mistake, our expert customer support agents are available every day to lend you a hand.

Summary

Now that you’re aware of the most common pitfalls when Matched Betting, you’ve got all the information you need to avoid them.

Of course, everybody makes a mistake from time to time, and even the most experienced Matched Bettors aren’t immune. The most important thing is always to pay attention to what you’re doing - and don’t forget that in most cases a small error isn’t the end of the world.