When you begin your matched betting journey you will come across a few words and phrases that you might not be familiar with. In this blog post we have explained the most important ones so you more easily can get started. We will also link to other blog posts where you can read about certain topics and learn more.
Step 1 – The Basics
Let us start with the most basic stuff:
Matched Betting – Using matched betting you will convert the bonuses that bookmakers offer to real money. The bookmakers offer different types of bonuses to customers in order to attract them to deposit money on their site. These bonuses can vary anywhere from 100 kronor up to 20.000 kronor and can come as a deposit bonus, odds boost or as a risk free bet. By using Betfair Exchange and our tools we will help you to make these bonuses risk free and convert your bonus into winnings that you will be able to withdraw.
Read more about matched betting here (https://www.oddstoincome.se/vad-ar-matched-betting/)
Betfair Exchange – To be able to wager your bonus that you have been given by a bookmaker you need to use an Exchange such as Betfair. An Exchange is a bookmaker that allows you to bet against other bettors rather than against the bookmaker itself. A big difference from your ordinary bookmaker is that you bet AGAINST an outcome. For example, instead of placing a bet that Liverpool would win the Champions League final you would bet on Tottenham NOT winning. This way you will win your bet on two outcomes, a draw or if Liverpool wins. Betfair takes out a commission of 5%, that you only pay if you win your bet. Using the Betfair Exchange and a bookmaker at the same time it will allow us to cover all the outcomes of a game. This way we will wager the bonus without risking any of our bonus money. Once the wagering requirements are met we can withdraw our winnings!
A LAY bet – On Betfair you will come into contact with the phrase ”placing a LAY bet”. This means you are placing a bet against a certain outcome. In other words you are betting that something will NOT happen. This is called a LAY bet.
A BACK bet – The opposite of a LAY bet is a BACK bet. This is also the most common bet available at the bookmakers and is when you are placing a bet of a certain outcome of a game or on a particular result. This is what you will be doing at the bookmaker that gave you a bonus.
Read more about Betfair and how to play a LAY bet here (https://members.oddstoincome.se/en/training/view-guide/guideid/2)
Step 2 – The Bonus
Rollover Bonus Offers – A bonus in the form of a rollover bonus means that you will be given an amount that matches the deposit you made at the bookmaker. It could be 100% up to 1.000 kronor which means that if you deposit 1.000 kronor you will be given additionally 1.000 kronor to bet for. With the bonus comes certain requirements, the wagering requirement is the one you really have to keep your eye on. The wagering informs you of how many times you need to bet you bonus money before you are able to withdraw your money.
Read more about Rollover Bonus Offers here (https://members.oddstoincome.se/en/training/view-guide/guideid/5)
Free Bet – A free bet is a bonus that you can be offered by some bookmakers. You will be given an amount to bet for from the bookie. But to receive this you usually have to place a qualifying bet first for your own money. A big difference from your rollover bonus offer is that you usually don’t get the stake back from a free bet but only the winnings of your free bet.
Read more about Free Bets here (https://www.oddstoincome.se/gratisspel/)
Risk Free Bet – A risk free bet is when you get your money back your first bet is lost. This is another bonus that bookmakers give out to new customers. A risk free bet is a kind of an insurance for you if you loose your bet. If your first bet is won you will not be given a bonus.
Read more about Risk Free Bet here (https://www.oddstoincome.se/riskfria-spel/)
Odds Boost – An odds boost means that the bookmaker has increased the odds for you as a bonus. This means that the winning part of your bet is enhanced. If a bookie is offering an odds boost of 100% the odds will be doubled, for example an odds of 5.0 will be 9.0 with the enhanced odds. This will give you a better chance of scoring big if your bet is won.
Read more about Odds Boost here (https://www.oddstoincome.se/oddsboost-eller-vinstokning/)
Good to know
Liability – The liability is the amount on Betfair that you expose and risk to lose if your bet is lost. The liability is also the amount that you have to have on your account so you can cover the bet. So, for you to be able to place a lay bet on Betfair your balance have to cover the liability of that bet.
Availability – The availability of an odds is the amount that is available to bet for at that particular odds. Obviously you can bet a smaller amount, you can also exceed the amount but for the bet to be placed someone needs to match your bet, which there are no guarantees for.
Read more about Liability and Availibility here (https://members.oddstoincome.se/en/training/view-guide/guideid/4)
Commission – The commission is the amount that Betfair charge you on the Exchange. Currently Betfair chargew you 5%, but only on your winnings bets.
SR and SNR – In our Calculator and in our Oddsmatcher you will come across the phrases SR and SNR. SR means Stake Returned and SNR means Stake Not Returned. SR means that your stake will be returned if your bet is won. SNR is the opposite; your stake will not be returned in case of a win. These will be commonly used when you are dealing with a free bet bonus.
Wagering requirements – When you collect a bonus at a bookmaker it will come with certain requirements, the wagering requirement is such a requirement. The wagering indicate what amount you need to bet for before your bonus is unlocked and able for a withdrawal.