Matched betting a relatively new concept in India where gambling is heavily restricted. Betting is illegal in most parts of the country, but there are no specific laws that outlaw the activity. Customers with betting exchanges can lay bets, which means residents of India have access to matched betting. The activity involves taking advantage of free bets from sportsbooks based in India through no risk matched betting. And several operators offer new Indian customers free bets. As part of this matched betting guide, here are also the betting sites that provide the best odds for matched betting in India.
Matched Betting India Guide
Matched betting is one of the ways to make money online in India. The first online gambling licenses were issued in 2010. Residents of India are not banned by law from registering with fixed odds bookmakers and betting exchanges. That means no risk matched betting India is not illegal, so there are betting opportunities. However, you should bear in mind that the leading betting exchange in the world does currently not accept bets in India.
Nonetheless, the law does not prohibit online sports betting, so betting sites are not doing anything illegal. A betting industry in India must have active bookmakers and betting exchanges in order for matched betting to work. Bettors must be able to place a back bet and a counter lay bet.
Here are our guide and Frequently Asked Questions about matched betting in India:
What is matched betting?
Matched betting is a universal concept that is not just for bettors in India. No risk matched betting is feasible where online sportsbooks and betting exchanges are legal. The activity uses free bets to make easy money. It involves placing bets and counter bets to guarantee a profit whatever the outcome of the betting events.
“It involves placing bets and counter bets to guarantee a profit whatever the outcome of the betting events.“
The following terms are important if you are embarking on no risk matched betting in India:
- Bettors bet on something to happen when they place a back bet.
- Bettors bet on something not to happen when they place a lay bet.
- Bookmakers accept back bets.
- Betting exchanges accept back and lay bets.
You have to be able to match a lay bet on a betting exchange to profit from matched betting India. Exchange bookmakers provide the platform for peer-to-peer betting. It brings together backers and layers at a mutually beneficial price. The second element of betting type is placing the counter lay bet to the initial back bet.
How to do matched betting?
Here is a step-by-step guide to utilizing matched betting as one of the ways to make money online in India.
- Open an account with any of the online fixed-odds bookmakers that is legal in India, listed above.
- Open an account with a betting exchange that is legal in India.
- Select a betting site that offers a free bet as part of the welcome offer.
- Place a qualifying back bet.
- Place a counter lay bet.
- Claim the free bet.
- Use the free bet to back something to happen.
- Place a counter lay bet on the same thing not to happen.
A matched betting calculator, available to residents of India, determines the stakes for the lay bet. The most popular calculators are available on OddsMonkey and Profit Accumulator. These resources do not tailor their services to bettors in India. However, residents of the country can take advantage the betting opportunities in the UK. We can expect the activity to develop as betting becomes less restricted.
“Qualifying and free back and lay bets can be on cricket markets, as long as customers can place counter lay bets on a betting exchange.”
Betting sites in India focus on cricket, which is the most popular betting sport in the country. Operators in India do take bets on other sports such as soccer and tennis. However, cricket is huge and the IPL (Indian Premier League) generates a massive amount of betting turnover. Qualifying and free back and lay bets can be on cricket markets, as long as customers can place counter lay bets on a betting exchange.
How does matched betting work?
Matched betting has little risk because the mathematical equation behind it produces profit regardless of the outcome of the event. Back qualifying and free bets can be manipulated through counter lay qualifying bets and free bets. The calculator works out the lay stake based on the lay odds, back bet and back odds.
Matched Betting Calculation
The best way to illustrate no risk matched betting India is by way of the worked example. In this betting guide, we will display how to make money by placing two types of bet, in the back and lay markets:
5,000 INR back at odds of 3.0.
4,688 INR lay at odds of 3.25.
There are 2 potential outcomes:
- If the bet wins, you win 10,000 INR from the back bet but lose 10,548 INR from the lay bet for a net loss of 548 INR.
- If the bet loses, you lose 1,000 INR from the back bet but win 4,688 INR from the lay bet for a net loss of 322 INR.
So, there is a small loss regardless of the outcome but you have unlocked the free bet.
5,000 INR back at odds of 5.0.
3,670 INR lay at odds of 5.50.
There are 2 potential outcomes:
- If the bet wins, you win 20,000 INR from the back bet but lose 16,565 INR from the lay bet for a net profit of 3,485 INR.
- If the bet loses, you lose the free bet but win 3,670 INR from the lay bet for a net profit of 3,670 INR.
Hence, the guaranteed overall profit is 3,485 INR or 3,670 INR, regardless of the outcome.
What is no risk matched betting?
No risk matched betting is possible because the calculator works out the stakes for the counter lay bet. There are no inherent risks in this process. However, you must enter the information accurately into a calculator. The tool can only calculate the correct lay stake based on the bet information that the bettor in India enters. Mistakes with bet entry will negate some of the benefits of no risk matched betting India. The net guaranteed profit will be of less value.
“No-risk matched betting is possible, if you eliminate any errors and place the lay bet in a timely fashion.”
You must place the lay bet without delay. There is only a small time frame to place the lay bets because the odds will soon change. The matched betting opportunity from free bets will soon disappear as the lay odds respond to weight of money. You could place the back bet and, if the odds change before you place the lay bet, the overall profit will be less. So no-risk matched betting is possible, if you eliminate any errors and place the lay bet in a timely fashion.
How much money can you make from matched betting?
It is difficult to say how much money you can make. Exploiting all the sign up free bets offers from leading operator in India could potentially net about 50,000 INR. Matched betting can bring in about 2,000 INR per hour, but it is not possible to be active for more than two hours each day. Another added benefit is that matched betting can generate a tax-free second income. However, the rewards are modest and not life changing. It is only one of the ways to earn money online!