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Matched Betting Guide 2024: Your Comprehensive Guide to Mastering Matched Betting!

Last Updated on 09.04.2024
Fact checked by: Alex Cabal

Want to turn sportsbook gambling into a legitimate side hustle? Then stick with me as I introduce you to the wizardry that is matched betting – including what it is, how it works and whether or not it’s 100% risk-free.

Free matched betting sure attracts some scepticism, so it’s high time for an honest chat about it. In this guide, I’ll bust some of the myths surrounding placing matched bets, giving you the confidence to try it for yourself. Plus, I’ll be sharing some of my top free bet bonuses – perfect for getting started placing free matched bets in Canada.

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Discover the best matched betting sites for Canadian players in April 2024

Players accepted in the US US Flag
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Matched betting explained: Everything you need to know

First things first: let’s take a look at the basics of what matched sports betting is.

Essentially, it’s when you place bets on sports in such a way that you have low risk of losing money. That might sound implausible, but it centres on making clever use of sportsbook free bet bonuses while wagering on two outcomes in a single sporting event.

With me so far? Good, because the dynamics of free matched betting online do get slightly more complicated from here on out. I’ll try keep things as layman as possible so matched bet newbies can keep up.

How matched betting works

As mentioned, placing free, no-risk matched bets is all about utilising free bet bonuses from the best sports betting apps in Canada. The tactic works on pretty much any sportsbook offering free bets as part of its promotions lineup, so be sure to check out the deals featured in the banners on this page to get started with a new brand.

So, how exactly does getting a free bet bonus relate to matched betting? And what do you need to do to ensure your wagers are risk-free?

Here’s a step-by-step look at how a free matched bet might unfold.

  • Step 1: Find a Canadian sportsbook that offers free bets as part of its promotions offering. For instance, you might find a site offering CA$10 in free bet credit when you bet CA$10.
  • Step 2: Register your details, pass verification checks, and make your first deposit. Ensure that the deposit meets the minimum amount set out in the free bet bonus T&Cs.
  • Step 3: Now it’s time to place your free matched bets. You’ll need to select the right odds and wager on two opposing outcomes. For instance, you may place a match bet on the Maple Leafs to win and a second match bet on the Maple Leafs to lose. It’s all about selecting the best odds that will drive profitability and ensure you have a low risk of losing money.
  • Step 4: Since you’ve placed bets on two opposing outcomes, you effectively can’t lose your matched bets. The free bet credit will then be added to your account, ready to use again in exactly the same way.

I know what you’re thinking: matched betting sounds a little dodgy. But trust me when I say that it’s a 100% legitimate and legal Canadian sportsbook gambling strategy, even in the case of high stakes online sports betting with serious $$$ on the line.

Sports bettors have been placing matched bets for decades and the tactic is universally acknowledged as an effective no-risk gambling strategy around the world. Sure, the betting brands themselves don’t like it but they have no way of stopping you (although I should note that some sites have been known to block the accounts of serial match bettors in the past).

Do you need to use a matched betting calculator or exchange?

It may come as no surprise to learn that some savvy start-ups have caught wind of the growing popularity of matched betting and have recognised it as an opportunity to make some cash. There are now several online tools and calculators designed to help players find the best matched bet odds, so you don’t need to spend an age researching the best betting opportunities yourself. The question is, should you use them?

Here’s a quick look at the advantages and disadvantages of matched betting calculators and tools so you can decide if they’re worth using.

Advantages of matched betting toolsDisadvantages of matched betting tools
Find the best matched bet odds at the touch of a button.Most pro matched betting calculators and tools charge a fee.
Track your profit with integrated profit tracking tools.Free trials of match betting tools often have a payment gateway before you can get full use out of them.
Access video guides, tutorials and other helpful resources to become a better matched bettor.Using a tool to place matched bets can remove some of the fun from sports betting online.
Get support from a specialist matched betting expert.Some matched betting services are known to overpromise – be careful about making lifestyle changes to pursue matched bets.
See how much you will win before even placing your bets.My advice is to understand the basics of sports matched betting; don’t rely solely on tools and calculators to dictate your bets.

Can you combine free matched bets with parlays?

Absolutely – it’s 100% possible to combine matched bets with parlays on a single betslip.

If you’re not adverse to a little risk when placing free matched bets online, you may wish to consider combining them with parlays. In doing so, you can maximise potential winnings with the compromise being that you could lose some cash in the process.

Sat there thinking, what is a parlay in betting? Tap the link and I’ll get you up to speed in my dedicated parlay betting guide.

What are the pros and cons of matched betting?

Advantages
  • Place free sports bets in such a way that they’re 100% risk-free
  • Make use of the best free bet sportsbook bonuses in Canada
  • Use a matched betting calculator to easily find the best odds
  • Supplement your income with a legal and legit side hustle
  • Enjoy complete flexibility with the latest matched betting apps for your smartphone
Disadvantages
  • Matched betting can be complicated to understand as a complete beginner

3 top tips for matched betting in Canada

If you’re a Canadian sportsbook bettor that’s researching matched betting websites and tactics for the first time, here are three essential tips that could help you get off to the perfect start.

Tip #1: Get to know the basics of sports betting first

If you have limited experiencei in placing sports wagers online, might I suggest you spend a little time on bookmaker sites before you start making matched bets? That way you might not need to resort to using an expensive tool or calculator.

Tip #2: Stick with match bets until your experience grows

Match bets – bets placed on the outcome of a game – are the bread and butter of matched betting, so I’d recommend sticking with this type of sportsbook bet initially. When you’re more up to speed on how everything works, then you can move on to making other types of matched bets, including props and parlays.

Tip #3: Wait to place your opposing bet

Bookmakers may improve the odds for underdog bets if moneyline favourites prove extremely popular. So, be sure to wait a little while to see if the odds increase for your opposing underdog bet, as this could ultimately improve profitability.

Are free matched bets worth it in Canada? Hell yes!

Even though betting on sport is super fun, losing money isn’t. If you feel the same then online matched betting could be for you.

Unlike some of the big-name matched betting tools and calculators out there, I’m not going to make any grand claims that free matched bets will transform your life. But if you’re looking for a low-risk way to enjoy sports betting online while also making a bit of cash on the side, I see no reason not to give matched sports betting a go.

If you’re looking for your first matched betting opportunity, be sure to take a look at the free bet bonuses featured in the banners on this page. I’ve hand-selected some top deals from Canadian bookmakers, so you can get started placing free matched bets with tried-and-tested brands.

Betting bonuses not to be missed in 2024

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Matched betting FAQs

Yes, there are no rules against using placing matched bets online. Make sure that sports betting is legal where you live before accessing any free bet bonuses featured in my full guide.

🏑 Can you place matched bets on hockey in Canada?

Yes, hockey is the most popular sport for matched bets in Canada, followed by football and basketball.

⚖️ Is matched betting no-risk?

The nature of matched betting means you’ll cover all outcomes of a sporting event, so yes, it is risk-free. However, you will need to place the right bets at the right odds for it to work.

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Our Team
Adan CabalAlex CabalAngel C. Noriega
Adan Cabal
Editor - Esports Journalist
Alex Cabal
Editor - Casino Expert
Angel C. Noriega
Editor - Responsible Gambling

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

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