Matched Betting has nothing to do with horse racing, but unfortunately the sport is not free of it. This system of arbitrage has permeated horse racing in a non-exclusive fashion ever since betting on the Internet became popular. Though valid reasons prompted President Bush to exclude horse racing from restrictions on other forms of online betting, an undesirable spin-off could be that elements with no commitment to horse racing, use events to further their nefarious activities. No horse racing enthusiast should support or indulge in matched betting, but you have to know about it in order to stay away!
Since various online bookmakers offer varying odds on the same horse racing event, it is possible to wager small amounts on a series of long odds in the hope that any one win will pay off for a number of other losses. Some websites in a hurry to gain custom even offer an initial free bet against any money deposited, so one can manipulate the system to place contradictory bets without a net loss. However, this is obviously not a sustainable approach, apart from the questionable ethics involved.
Betting against other horse racing punters is another form of online matched betting. A betting exchange is the kind of website where this happens. It is possible to place a series of bets mathematically designed to avoid losses, though the transactions may not be genuine. This practice, which is not exclusive to horse racing, promotes unfair practices in all sports.
Greed in trying to use online systems for matched betting can backfire with loss of significant sums of money. Websites may not have authentic owners, can abuse credit card information, and may become simply insolvent and unable to honor their commitments. It is therefore very important for horse racing enthusiasts to stay away from tempting offers of matched betting which they come across. Family members and trusting friends can also be misled if one member starts matched betting, perhaps with a chance win in the beginning, or with fables of imaginary achievements! Remember to look for hard evidence when someone you know praises the virtues of matched betting!
Matched betting encourages malpractices, and puts your capital at risk. The very status of horse racing is jeopardized by matched betting practices. Horse racing is unique in that you can enjoy it as a sport, pick winners and places in a systematic way, and make legal profits from your studious approach to the game. Pari-mutuel systems, and horse racing betting through reputed bookmakers, are the only two valid systems in the sport today. Horse racing betting is a long term activity, and requires a cautious approach to make sure that you remain on the right side of the financial equation. Do keep away from matched betting, and try soccer instead of horse racing if you cannot resist having a go!