Concept
The concept of matched betting requires an account with a bookmaker who would offer a free bet with favourable conditions, and at a betting exchange, which is required to offset the loss made at the bookmaker. Generally, bookmakers would incorporate terms in which that individuals must first place a bet using their own money in order to qualify for the free bet. For this, a bet is placed on particular results occurring with the bookmaker and a second bet placed on the same result not occurring at the betting exchange. The latter is required to offset any loss in the event that the result does not occur, for instance, if a team loses. Once the free bet has been qualified, the same process is followed with the exception that a free bet is being used. No matter which result occurs, there will always be a guaranteed profit because the bet was made free of charge.
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Famous quotes containing the word concept:
“The concept of a mental state is primarily the concept of a state of the person apt for bringing about a certain sort of behaviour.”
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