Matched Betting in Canada: A Step-by-Step Guide

Matched Betting
Matched Betting in Canada: A Step-by-Step Guide

What is Matched Betting?

Matched betting is a great way to turn the free bet promotions offered by online bookmakers into real money.

Most reputable bookies offer sign-up bonuses designed to encourage you to open an account on their website. Unlike traditional betting where punters are required to predict an outcome, matched betting takes advantage of these incentives.

How to Start Matched Betting?

Simply place a bet with the bookie who offered you the free bet and then lay, or bet against, the same outcome elsewhere. Instead of placing just one bet with a bookie you actually place two by ‘matching’ that bet with another one at a betting exchange. This allows you to cover every potential outcome and secure a profit regardless of the final result.

With matched betting, you’re not putting your money at risk as it is a technique based on the application of mathematics rather than chance. A typical return for a matched bet where the stake is returned is more than 85% of the free bet offer amount, and over 70% where the stake is not returned. Most free bets do not return your stake. More advanced versions of matched betting Canada strategies involve placing bets with multiple bookmakers to avoid the commission charged for using an exchange.

There are several common strategies for matched betting including manual and assisted betting. The former is where the individual finds the offers, markets and odds themselves and also makes the relevant calculations. Matching the right odds requires a high level of numeracy and in-depth betting knowledge.

Assisted matched betting refers to software packages or websites that provide comparison tables of markets for individuals to bet on. These are known as ‘auto-matchers’ which provide people with a matched betting calculator to be used in conjunction with the comparison table allowing the user to select the type of bet, stake, bonus and timeframe.

You can get involved with matched betting with as little as $50.00 and build up your bankroll as you complete the welcome betting offers. Once you’ve completed those, you can tackle the reload offers for existing customers. Monthly profits of $500.00 are achievable, although this is dependent on your starting bankroll and the amount of time you are willing to commit. Matched betting is a great way to boost your income from just a few extra hours of work.

How does Matched Betting Work?

Matched Betting Canada

Understanding matched betting takes a little time, but the process is actually quite simple. You start by signing up for your chosen bookmaker, make an initial deposit and placing a qualifying bet.

For instance, a bookmaker has an offer to ‘Bet $50, Get $50’ in free bets. To get the $50 bet from the bookmaker, you have to place a bet of $50.Next, you must choose an event to wager on. Using the Premier League game between Tottenham Hotspur and Manchester City as an example you decided to back the away side.

The odds for City are 1.53 (back) at your bookmaker and 1.57 (lay) on your chosen betting exchange. You now place a bet of $50 on City to win with the bookmaker.
To calculate your optimal lay stake on the exchange, use this simple equation:

  • Lay stake for an even profit = back odds / (lay odds – exchange commission) * back stake. For this example that is 1.53 / (1.57-0.02) * 50 = $49.35.

To complete the qualifying bet lay City for 1.57 on the exchange and enter your stake as $49.35, which will mean your liability is $28.13. You will need to ensure your account has that amount in to cover the liability if City win, but remember you have won with the bookmaker if that happens. So if you placed this qualifying bet, you would lose $1.63. However, you will receive your free $50 bet and can now place your matched bet.

The process is now similar to the initial qualifying bet – back the outcome with the bookmaker and lay on the exchange. In this example, you decide to place your bet on City of Love to win the 7.15 at Woodbine.  The odds on City of Love are 7.00 (back) with your bookmaker and 7.50 (lay) on the exchange. As previously, place a $50 back bet on City of Love win at odds of 7.00 with the bookmaker, and work out your lay stake for an even profit on the exchange using the calculation below:

  • Lay stake = (back odds – 1) / (lay odds – commission) * free bet value. For our example that is (7 – 1) / (7.50 – 0.02) * 50 = $40.11.

To complete the matched bet lay City of Love at odds of 7.50 on the exchange and enter your stake as $40.11, leaving you a liability of $260.71. You will need to ensure your account has $260.71 in to cover the liability if City of Love wins, but you will have won with the bookmaker if that happens. Regardless of whether City of Love wins or loses your matched betting strategy will return over $39 profit.

Now you understand how simple matched betting is to make a profit from, you can use it to grab extra income every month. 

Start Your Matched Betting:

Sports Intercation
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$400 Welcome Bonus + 50 Free Spins
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Matched Betting Guide

Matched betting infographic

Step 1: Sign up for Sports Interaction and get up to $500 In Free Bets.

Step 2: Sign up for Bodog and get $400 Welcome Bonus + 50 Free Spins.

How does matched betting work?

Firstly, you don’t need to know all the betting terminology if you follow the steps below, but it’s important that you know two types of bet which allow matched betting to work:

A ‘BACK’ BET: Betting for a certain outcome to come true. Eg. “I bet England will win” is a backing bet. If it comes true, you win the bet and the winnings. If England loses or draws, you lose your stake. You can place a back bet at any bookmaker.A ‘LAY’ BET: Betting against a certain outcome to come true. Eg. “I bet England will not win” is a lay bet. If they lose or draw, you win the bet. You can only place a lay bet at a betting exchange such as Betfair.

How much profit can I make?

For each matched bet, you will be left with up to 95% of the free bet amount as profit. This is because betting exchanges usually charge a commission of 5% on winnings. You may also make a very small loss on the qualifying bet due to the minor difference in odds on each website. And it’s worth pointing out, earnings from the gambling industry are currently tax-free.

What’s the risk?

Anyone can learn how to do matched betting and, in theory, there is no risk involved because you are covering yourself by betting for and against the same event
However, the risk comes when mistakes are made so, once again, you need to double-check everything and follow the steps exactly. It’s also worth knowing that depositing at gambling websites does not affect your credit rating.

Your first profit in 7 steps:

  • STEP 1 – Sign up for Sports Interaction
  • STEP 2 – Sign up for Bodog
  • STEP 3 – Use decimal odds
  • STEP 4 – Find & place your qualifying bet
  • STEP 5 – Claim your free bet
  • STEP 6 – Find & place a new bet
  • STEP 7 – Withdraw the profit

Our Goal at BettingTop10

Whether you’re an occasional bettor or a regular punter, BettingTop10 has something for everyone. Our goal is to provide the latest odds, predictions and analysis for all of our visitors. We also continue to ensure that all of our recommended bookmakers are safe, reputable and trustworthy.

If you’re in two minds about whether to join one of our online bookmakers, our aim is to help you make a decision and take advantage of the sign-up bonus on offer. There will be a bookmaker to suit every single punter and we will aim to help you find that perfect provider.

We also want to keep you in the loop when it comes to sports news and views and this will hopefully help you improve your betting results.

What You Will Find at BettingTop10

Sports Betting Sites Reviews – Finding a new bookmaker can be a minefield and our comprehensive reviews will enable you to find a trusted, reputable and generous online bookmaker. Our reviews factor in a number of elements including customer service, promotions, offers and usability.

Sports Betting Guides – Ranging from hockey through to horse racing, our sports betting guides: NHL betting sites, NFL betting sites, NBA betting sites and UFC betting sites offer advice and strategies on how to improve (or begin) betting on some of the most popular activities with information on how to find the best prices and keep across the latest games.

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