Gambling Kiwis who've heard about matched betting as a successful sports betting strategy to earn risk-free money may wonder how it works and if it's legal in New Zealand.
This article delivers answers to this question in detail. We'll also shed light on several surefire tips to winning top dollar on matched betting.
Excited yet? Let's dive in!
What Is Matched Betting?
Matched betting is a two-bet system involving betting on probable outcomes of sporting events to get decent to astronomical wins regardless of the game's result.
This betting format typically requires taking advantage of sign-up bonuses, reload bonuses, or other available offers from a bookmarker guaranteeing free bets.
Typically, you'll need to place a standard wager — the qualifying bet — to earn the free bet offer.
Then, you'll stake the free bet on one sporting outcome (i.e., Auckland City to win). Now, place an opposing bet (Auckland City to lose) at another betting exchange to contradict the initial bet, guaranteeing you'll walk away with money irrespective of the match's outcome.
Matched betting doesn't qualify as gambling. Instead, it's a no-risk strategy covering all possible outcomes of a sporting game and involves expert calculations.
Matched Betting in New Zealand
Kiwis would be excited to learn that matched betting is legal in New Zealand. In fact, you can place matched bets in jurisdictions where sports betting is legal.
Kiwi gamblers can facilitate these bets across limitless bookmakers and betting exchanges licensed in NZ.
Pros and Cons of Matched Betting
Pros of Matched Betting
- Risk-Free: Perhaps the most significant benefit of matched betting is its low-risk nature. Unlike gambling, matched betting involves minimal risk with high rewards. As long as you research and pick the right bets, you'll walk away with top dollar in your bank account.
- Tax-free Earnings: Matched betting earnings are classed as gambling winnings. Thus, every amount you win from a matched bet is tax-free — no need to file a self-assessment. If you've got a full-time job, you don't have to inform your employer about the income derived from matched betting.
- Limitless Winnings: There's no cap on the amount of money you can earn from matched betting. You can place bets on diverse outcomes of a sporting event and win big. You could be a full-time matched bettor or employ the strategy as a side hustle makes it even better.
Cons of Matched Betting
- Challenging to Understand: A major reason why most bettors don't place matched bets is that the concept is challenging to understand. Placing successful matched wagers requires research, and you may struggle to learn the strategy on your own without professional help.
- Winnings Depend on Free Bets Availability: Matched betting depends on the availability of free bet offers from bookmakers. If you can't find one, it'll be difficult to earn money. Thus, you'll need to spend significant time researching possible free bet offers. While you can place matched bets without free bet promos, the risks are substantially higher.
Matched Betting Tips and Strategies
- Use a Separate Bank Account: You shouldn't use your main bank account for matched betting transactions for several reasons. For one, it's more challenging to track how much you're spending and winning when your matched betting earnings are mixed with your everyday transactions. Secondly, some banks restrict gambling transactions to protect people from gambling addictions or scams. Also, if you intend to get a mortgage, gambling-related payments in your main bank account could hinder your application.
- Use a Matched Betting Calculator: If you're new to matched betting, you'll struggle to do the math alone. A matched betting calculator is vital to determine how much you should bet and your potential profits.
- Get Expert Help: Matched betting can be complex if you're a first-timer. You may struggle to learn the strategies independently. Thus, you'll need expert guidance, such as a matched betting site offering a daily dose of tips and strategies.
Matched betting is an excellent sports betting strategy to get seismic wins at your favorite bookmaker.
However, it requires more than placing opposing bets at a sporting exchange. You'll need to do your research and learn the tricks and hacks.
When done right, it can guarantee a massive payday!