Although matched betting is a low-risk strategy, there are indeed some things that could potentially go wrong. I’ve listed the most common problems new matched bettors tend to experience.
Placing the Wrong Bet
Major sports events often have dozens of betting markets related to them. A typical soccer game has Match Odds, Correct Score, Over/Under 2.5 Goals, Next Goal, Half Time, Corners Match Bet, and other betting markets.
Make sure that you place both bets in the same market of the same event! If you accidentally make a mistake, it can almost always be corrected with little or no loss by placing the opposite bet in Betfair, assuming that you’re aware of it.
Always correct such mistakes and don’t rely on luck.
Also, make sure that you’ve actually placed a bet – the majority of bookies ask you to confirm the bet you want to place.
A Bonus or Free Bet is not Awarded
Although problems with getting bonuses or free bets occur rarely, there have been such cases. They usually arise from not reading the T&C’s of bonuses and free bets, which leads to not meeting their requirements. If that is the case, you only have yourself to blame.
It is possible that a bonus or free bet can only be seen when you attempt to place a bet. If you’re sure that you do qualify for a bonus but you still don’t have it within 48 hours, contact bookie’s customer support.
Don’t leave an impression that you’ve only registered with the bookie to get the bonus; some bookies may not like it. If you still experience problems, leave a comment below. In some cases, I might be able to help you.
Suspended Account
Some bookies may suspend accounts of new customers if their identity hasn’t been verified. If that happens to you, contact the customer service to find out what documents they need to verify your identity.
Technical Failure
A breakdown of your computer or Internet connection can expose you financially if you’ve only placed one of the two bets.
As a precautionary measure, I recommend placing the back bet first as it can potentially lose less than the lay bet if the odds are above 2.0. It’s also safer to avoid betting in the very last minutes before the event starts. You’ll be more likely to solve any problems if you have some time left.
Gambling Risks
Matched bettors who lack discipline might be tempted to gamble as they are constantly exposed to online bookies. I don’t want to sermonize gambling or reproach gamblers, but I have to let you know that in the many years I’ve spent in the betting market I’ve never seen a gambler who could profit consistently.
All sports betting addicts that I know say that they know how a sports event is going to end. And all of them lose in the long run. Some are in debt; some have ruined their families, lost their jobs and their friends.
What makes you think that you would be different? Stick to matched betting or stay away from bookmakers!
