Matched Betting
Extracting promotional value by covering all outcomes — back the bonus at the book, lay it at an exchange, keep the difference.
Matched betting hedges promotions into cash: back a qualifying bet at the bookmaker, lay the same outcome at an exchange, and the free bet’s value survives whichever result lands.
Industry posture
Not illegal, definitionally against promo intent: books detect hedged patterns (exchange-mirrored stakes, promo-only activity) and restrict accounts — the gubbing cycle. An entire affiliate sub-industry teaches the technique and monetizes exchange referrals. For operators, promo design (wagering the bonus, odds floors, staged release) prices out most hedging; for content sites, the topic pulls sophisticated traffic that regular bonus pages never see.
See this metric live in your own program: explore iGamingXpert browse the full glossary