Matched betting comes with a lot of unique terminology that can confuse beginners. This glossary explains the most common matched betting terms so you can understand guides, calculators, and strategies with confidence.
Accumulator (Acca)
An accumulator bet is a single bet that combines multiple selections. All selections must win for the bet to be successful.
In matched betting, accumulators are often used for special bookmaker promotions such as “Bet £10 Get £5 Acca Free Bet”.
Back Bet
A back bet is a traditional bet placed with a bookmaker where you are betting for something to happen.
Example:
Backing Manchester United to win a match.
In matched betting, the back bet is always paired with a lay bet to cover all outcomes.
Lay Bet
A lay bet is placed on a betting exchange where you are betting against something happening.
Example:
Laying Manchester United means you win if they do not win.
Lay bets are used to cancel out the risk of the back bet.
Betting Exchange
A betting exchange is a platform where users bet against each other rather than against a bookmaker.
Popular exchanges include:
– Betfair
– Smarkets
Exchanges allow users to place lay bets, which makes matched betting possible.
Liability
Liability is the amount of money you risk losing when placing a lay bet.
For example, if your lay bet loses, the liability is what you must pay to the exchange.
Managing liability is important to maintain your matched betting bankroll.
Free Bet
A free bet is a promotional bet offered by bookmakers, usually after placing a qualifying bet.
Example promotion:
“Bet £10 Get £30 in Free Bets”.
Matched bettors convert free bets into guaranteed profit by hedging them on an exchange.
Qualifying Bet
A qualifying bet is the first bet placed to trigger a promotion.
Because you place both a back and lay bet, the qualifying bet usually results in a small controlled loss, which unlocks the free bet.
Odds
Odds represent the probability of an event happening and determine how much you win.
Example:
Odds of 3.0 mean a £10 bet returns £30 if it wins.
Matched betting works best when back and lay odds are very close.
Odds Matching
Odds matching refers to how closely the bookmaker odds match the exchange odds.
Example:
Bookmaker odds: 2.10 Exchange odds: 2.12
The closer the odds match, the smaller the qualifying loss.
Commission
Commission is the fee charged by betting exchanges on winning bets.
Typical commission:
2% – 5%
For example, Betfair usually charges around 5%, while Smarkets charges around 2%.
Lower commission improves matched betting profits.
Stake
The stake is the amount of money placed on a bet.
Example:
A £10 bet has a £10 stake.
Matched betting calculators help determine the correct back and lay stake.
Matched Betting Calculator
A matched betting calculator helps determine the correct lay stake, liability, and expected profit.
Many tools automatically calculate optimal values for both qualifying bets and free bets.
Gubbing
Gubbing happens when a bookmaker restricts or limits your account because they suspect matched betting activity.
This can include:
Stake limits Removal of promotions Account restrictions
To avoid gubbing, many bettors mix in normal bets and casino activity.
Matched Betting 101 