Damon Mcknight
Matched betting is a popular betting strategy used worldwide that involves placing bets on all possible outcomes of an event, effectively canceling each other out. Despite its name, matched betting is not considered gambling and is, in fact, a legal activity in Australia. This strategy takes advantage of publicly available promotions and bonuses offered by bookmakers, allowing individuals to make guaranteed profits without taking on significant risk. While it may seem too good to be true, matched betting is a lawful staking approach that does not involve fraudulent or deceptive activities.
| Characteristics | Values |
|---|---|
| Legality | Legal in Australia |
| Tax status | Tax-free |
| Risk | Low-risk |
| Requirements | Over 18, proof of Australian address, some available cash |
| Tools | Matched betting calculator, HorsePower Chrome extension |
| Betting sites | Betfair, Sportsbet, Ladbrokes, Bet365 |
| Betting types | Back bet, lay bet |
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What You'll Learn
Is matched betting legal in Australia?
Matched betting is a strategy that uses offsetting bets (back and lay) to reduce variance and guarantee profits. It involves placing two or more bets on the same event, covering all outcomes, which effectively cancel each other out. This strategy takes advantage of the promotions and bonuses offered by bookmakers.
In Australia, matched betting is 100% legal. While it is a form of betting, it is not considered gambling as it is a mathematical strategy that carries little to no risk. It does not involve any fraudulent or deceptive activities and does not breach bookmaker terms as long as you play within their rules. There are no laws against placing bets with different providers.
To participate in matched betting in Australia, you must be over 18 and be able to provide proof of an Australian address. You will also need some cash to make initial deposits, with a recommended starting bank of around $250-$300, although more is better.
While matched betting is legal in Australia, it is relatively unknown, which means there are more opportunities to make money. However, certain restrictions have been put in place by the Australian government to regulate bookmakers' promotional activities. For example, 'free bets' and 'sign-up bonuses' are prohibited, but loopholes exist, and bookmakers continue to offer promotions in different forms.
Some popular sites used for matched betting in Australia include Betfair, Sportsbet, Ladbrokes, and Bet365, which offer reliable promos and liquidity.
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How does matched betting work?
Matched betting is a strategy that uses offsetting bets (back and lay) to reduce variance and profit from free bets and incentives offered by bookmakers. It is a no-risk technique that can be used to turn bookmaker bonus bets into cash.
The concept of matched betting requires an account with two or more bookmakers or betting exchanges where at least one offers the user a free bet. When placing a bet, all possible outcomes of an event are covered, which effectively cancels each other out. While you neither win nor lose anything, when combined with a bookmaker promotion, you can use it to claim bonus bets for next to nothing.
For example, let's consider the result of a football match. There are three possible outcomes – a home win, an away win, or a draw. If you back the home team to win at the bookmaker, this covers one outcome. You can then place a lay bet on the home team at the betting exchange (Betfair) against that same outcome (i.e. the home team does not win). By covering both sides of the market using a calculator, you can tightly control exposure and align returns across outcomes.
Matched betting is relatively unknown in Australia, but it is legal. To avail of these offers, you’ll need to be a resident of Australia and be over 18 years old with proof of your address.
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What are the best sites for matched betting in Australia?
Matched betting is a popular way to make money in Australia, and there are several sites that can help you get started.
Bonus Money and BonusBank are two of the most popular options. Both sites offer similar features, including tutorials, guides, and tools to help you get started with matched betting. Bonus Money is slightly cheaper at $49 per month, compared to BonusBank's $59 per month. Bonus Money also offers a unique Bet Finder tool, which is great for beginners as it allows you to start profiting from matched betting immediately without having to spend time reading guides or playing with odds matching software. BonusBank, on the other hand, boasts Australia's most active and experienced matched betting community, as well as the only Dutching software in the country.
Matched Betting Australia is another site that teaches you how to place matched bets and turn bonus bets and reload offers into profit, no matter the result of the event. They offer free guides and resources that can be accessed on any device, anywhere, anytime.
EdgeAlerter is a tipping site that uses promotions to gain an advantage over bookies. The racing tips are supplied via the Telegram app and arrive just before a race starts.
CK Sports is a subscription service that offers basic educational content, matched betting calculators, a calendar of upcoming promos, and suggested bets to take advantage of those promos.
With so many options available, it's important to do your research and choose a site that best suits your needs and preferences.
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How much money can you make matched betting in Australia?
Matched betting is a strategy that uses offsetting bets (back and lay) to reduce variance and profit from bookmaker offers and bonuses. It involves placing bets on all possible outcomes of an event, which effectively cancel each other out. When combined with a bookmaker promotion, you can use it to claim bonus bets for next to nothing.
In Australia, there are no ‘sign-up offers’ due to legal restrictions on advertising gambling. However, many bookies still offer bonuses to new accounts. Bookmakers are aware of matched betting and that customers can abuse their promotions this way. They make a long-term profit for a short-term loss and accept matched betting as an unavoidable consequence. While ‘free bets’ and ‘sign-up bonuses’ are prohibited, several loopholes exist, and bookmakers continue to provide promotions in the form of ‘bonus bets’ and ‘money-back specials’.
The amount of money you can make from matched betting in Australia varies. In their first two months of matched betting, more than 50% of Bonusbank members make over $2500, with almost 20% making $5000+ and 4 out of 5 new members making at least $1000. Some members have made tens of thousands of dollars in a year, while others have made over $30,000 over several years. It is possible to make $1000+ every month from existing customer promotions, with an additional $1000+ per month from horse racing promos.
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What are the requirements for matched betting in Australia?
Matched betting is a popular betting strategy used worldwide and has gained considerable traction in Australia in recent years. It involves placing two or more bets on the same event, covering all outcomes to guarantee a profit no matter what happens. While it is a lawful staking approach in Australia, it is relatively unknown, making it a lucrative opportunity for those in the know.
To get started with matched betting in Australia, there are a few requirements you need to meet:
- Age requirement: You must be over 18 years old to participate in matched betting in Australia. This is a standard legal requirement for most gambling activities in Australia and worldwide.
- Proof of address: You need to provide proof of an Australian address to access Australian bookmaker sites. This requirement may be fulfilled by providing a valid residential address or any other form of accepted identification that establishes your residency in Australia.
- Initial deposit: You will need some cash to make your initial deposits into your chosen betting platform, such as Betfair, and the bookies. It is recommended to have at least $500 for this purpose, but having more is advantageous as it allows you to take advantage of more opportunities.
- Betting tutorials: Familiarize yourself with matched betting tutorials to understand the process thoroughly. Websites like Bonusbank offer free tutorials that teach you everything you need to know to start matched betting in Australia. These tutorials can guide you through the mechanics of placing back bets and lay bets, calculating stakes, and managing your risk.
- Betting calculator: Utilize a matched betting calculator to simplify your workflow and improve execution. This tool helps you size your stakes, factor in commissions, and calculate potential profits more accurately. The Bonus Bank Calculator is a popular choice among matched bettors in Australia.
- VPN for overseas access: If you are an Australian resident wishing to access bookmaker sites while abroad, you will need to use a VPN to bypass geo-blocks and access the sites from your location. This requirement ensures that you can continue your matched betting activities even when you are not in Australia.
By meeting these requirements, you can start matched betting in Australia and take advantage of the various bookmaker promotions and bonuses to turn them into risk-free profits. Remember always to comply with local regulations and bookmaker/exchange terms when engaging in matched betting activities.
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Frequently asked questions
No, matched betting is 100% legal in Australia. It is a low-risk, tax-free strategy used to profit from bookmaker promotions.
Matched betting is a strategy that uses offsetting bets (back and lay) to reduce variance and guarantee profit. It involves placing bets on all possible outcomes of an event, which effectively cancel each other out. When combined with a bookmaker promotion, you can use it to claim bonus bets. You then repeat the process to turn that bonus bet into cash you can withdraw.
To participate in matched betting in Australia, you must be over 18 and be able to provide proof of an Australian address. You will also need some cash to make your initial deposits and a matched betting calculator.
