Getting into matched betting can feel a bit scary, especially if you’re anxious about making mistakes. Matched betting is risk-free if done right. Platforms like 20Bet Casino make it easy to start with many offers. Learn about common pitfalls first. This will help protect your bankroll and lead to steady profits.
1. Not Keeping Track of Your Bets
It might not seem thrilling, but tracking your bets is key. Track your bets with a tool like Outplayed’s Profit Tracker—or set up your own spreadsheet.
Betting often can be confusing. Keeping detailed records helps you track free bets and remember to check event outcomes. In horse racing especially, having a record helps you double-check results with the bookmaker later on.
If your horse doesn’t run, the bet is voided at both the exchange and the bookie. Free bets often require you to place them again. Rule 4 deductions can reduce your profit. Yet, Best Odds Guaranteed might increase your returns.
Tip: Keep organised records of every bet, whether through a tracking tool or a simple spreadsheet.
2. Not Keeping Track of Your Cash
It’s just as important to stay on top of your cash balance. Finding an unexpected tenner in a rarely used bookie account can be a nice surprise. Yet, it’s wiser to keep a record of all your deposits.
As you gain experience, you’ll likely keep a good amount in your main bookie accounts. Maintaining a clear record saves you from making endless deposits and withdrawals. Still, it’s smart to track how much you have in each account. To make this easier, Outplayed even includes a balance sheet in your account for quick reference. It helps you track where all your money is.
Tip: Keep your balance sheet updated—whether that’s your own or the one provided by Outplayed.
3. Trying to Win All Your Lay Bets
Winning too much can lead to gubbing. Some bettors try to avoid suspicion by ensuring their back bets never win. If all your profits come from the exchange side, the bookmaker may see you as a “profitable” customer.
The issue here is that you end up placing all your bets at high odds. This often means betting at higher odds on purpose. It helps lower the chances of a back bet winning. But the back bet can win. When it does, especially at high odds, a big part of your money goes back to the bookie. This leaves you right where you started.
But watch out—patterns like this can make it obvious that you’re matched betting. Remember, real gamblers win some bets. You don’t have to force every back bet to lose. Mixing in the occasional mug bet helps you blend in as a regular punter.
Tip: Place a casual bet now and then, unrelated to offers, to appear more natural.
4. Withdrawing too Much Too Soon
When the profits start adding up, it’s tempting to cash out immediately. But growing your bankroll first is a smarter long-term approach. With a bigger bankroll, you can take advantage of more offers. This will lead to much higher profits over time.
It’s ultimately up to you when you withdraw—but having a well-defined plan helps you stay focused. It could be for a holiday, a vehicle, or rainy-day funds. Whatever your choice, be sure you leave sufficient in your bankroll to keep making profits.
Tip: Keep a minimum balance in your exchange account, like £300. Only withdraw when your balance is above that. Only withdraw when your balance is above that amount. That way, you can enjoy your winnings while still keeping enough aside to generate more profits.
5. Rushing, or Complacency
When you start out, complacency isn’t a problem. You’ll probably check everything several times before you hit “place bet,” to make sure you didn’t miss anything.
In time, though, as you gain confidence, the procedure appears simpler and it’s only human nature to let your guard down. Most of the errors in this article are due to rushing, lack of attention, or complacency. No matter how much of a routine it becomes, never drop your guard. Do not wager when rushing or distracted.
Tip: Keep reminding yourself to slow down and pay attention, even if you’ve been matched betting for a while. Never place bets when you don’t have the time to do it properly.
Summary
Mistakes happen, even to experienced matched bettors, but most can be fixed. Stay focused and keep good records. Use the right tools. By staying disciplined, you’ll sidestep avoidable errors and keep your profits safe.