Matched betting (also known as back or lay bet matching, or double betting) is a betting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered risk-free as it is based on the application of a mathematical equation rather than chance. The concept of matched betting requires an account with two or more bookmakers or betting exchanges where at least one offers the user a free bet. When the free bet is placed the other bookmakers or betting exchanges are used to hedge all the possible outcomes so that no matter what happens the value of the free bet is retained. No matter which result occurs, there will always be a guaranteed profit because the bet was made free of charge. At the time of this writing matched betting is not legal in the US, but is widely practiced in the UK and other parts of Europe. Here are some sites that list the available matched betting opportunities:
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