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 lose or draw, you lose your stake. You can place a back bet at any bookmaker, such as Paddy Power, William Hill, Ladbrokes etc.
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.
Matched betting works by cancelling out the risk on the ‘back’ bet at the online bookies by betting against yourself at the same odds (know as ‘laying’ a bet) which you can do at a betting exchange. In other words, you are ‘matching’ your bet.
A bookmaker’s office is a gambling house that accepts bets. The bookmaker evaluates the probability of one or another outcome of the event and sets a coefficient for each of the possible outcomes – a numerical value by which the bet is multiplied in case of success.
The main direction of work of pinnacle brasil reveja of the majority of bookmaker’s offices is acceptance of bets on sports events. The number of sports offered for betting can reach 30 and includes not only popular football, tennis, basketball and hockey, but also something more “exotic” like golf, darts or cricket. All bets on sports are not limited: some betting offices offer to guess the outcome of landmark events, including the world of politics and culture.