Matched Betting Blog: How I got started and made 100% tax free cash in weeks.
I’d heard about matched betting a few time over the last year. So, with a small space of time in my diary, I decided to give it a go. Essentially matched betting is the process of playing of two competing bets. Betting on both outcomes of a game, event or scenario. Now, obviously in general there would be little point to this as winnings and losses would wipe each other out. In fact, due to the betting odds, you’d lose a small amount each time.
To make betting profitable you need to apply matched betting offers and matched betting reload offers. I’m sure you’ve seen banners on various sites across the internet offering “Place a £10 bet, and we’ll give you a £30 bet free” etc. These are matched betting sign up offers. These are the bread and butter of someone matched betting.
The reason these sign up offers are great is you’ll happily lose a small amount on an opening bet. Why? Well, because the small loss on the opening bet gives you the “free” offer bet. In the bold example above you’d get access to a free £30 promo bet. You’d then use that promo bet as another matched bet, make a small loss on the “free” money and pocket the left overs.
For example (based on the offer above):
- Bet £10 at the offer bookies, and bet against this (a “lay” bet) at another betting exchange, for example betfair.
- Either the bookie bet wins, or the exchange bet wins. Either way you’ll have a net loss of around 20p-£1, so far…
- Use the free £30 bet to place another matched bet, again “lay” the bookie bet at an opposing exchange.
- One bet will win, one will lose, either way you’re taking the best part of a FREE £30 away.
- End result for 10 minutes work, is around £25, with no risk…
Matched Betting Blog: Is matched betting risk free?
This is the part I was dubious about. Is matched betting truly a risk free option for generating an additional income? After a month of trialing it, I can honestly say it “should” be. Essentially if you’re double checking that your matching bets correctly, there is very little room for error. The only risk is human error. You need a reasonable maths brain on you to go it alone. But for most, there’s plenty of forums and guides out there. I used a free trial from the fab people at Profit Accumulator to try out a few bets. Not only do they literally guide you step by step through your first bets, they also have all the matched betting calculators, tools, spreadsheets and video guides you could hope for.
Their free trial will give you a fool-proof feel for matched betting and allow you to see if it’s something you could do. You can then either go it alone, or choose membership with them for a year (currently £17.99 per month). I’d highly recommend using their full Platinum membership if you get on well. You’ll get support by phone, all the latest offers, a brilliant forum and even a money back guarantee. You can easily make back you yearly membership fee in a few weeks if you have and hour once a week.
The only other thing to consider is if you’re planning a credit application (ie. a mortgage etc.) either put matched betting on hold, or use a different bank account. This is because the betting accounts can show on lenders finance screens.
Matched Betting Blog: How to find matched betting offers, tips, guides and reload offers.
Lots of the big money saving forums online have matched betting sub-forums. With newbies and veterans alike sharing tips and guides. Just Google “MSE matched betting” or “The Money Shed Matched Betting” for an idea of support. However, I’d suggest services like Profit Accumulator first. Profit Accumulator will give you more focus and understanding than a crowded and confusing forum. You’ll pick up the jargon as you learn at your pace with PA. Then, after a year with Profit Accumulator, you’ll know weather you have the confidence and time to source your own offers. Even with my growing confidence, I’d stick with the clarity of Profit Accumulator for now.
Matched Betting Blog: How much is it possible to make?
The big question. The honest answer? Well, it truly depends on two factors.
- How much time you have – 10 to 15 minutes is all it take to carefully place the right bets. I liked to start slowly with a few offers, other will prefer to hit it big time and do multiple offers at once. It’s entirely up to you, but make sure you do it in line with your confidence level until things are clear. Some pro-matched betting friends make £500+ regularly per month by putting in a few hours per week, and then checking for reload offers (offers for ‘existing’ customers)
- How much you put into it – This is important because to offset bets at an exchange you’ll need to have more in the account to ‘cover’ you’re bets. The bigger the pot you have to start with, the quicker you can move onto larger offers and money making sides. I started slow and low to get used to it; about £80. Now, I’m up to a pot of £500 by doing just a few offers per week for a month or so. Profit Accumulator themselves suggest it’s possible with 1-2 hours per day to make £2000. That seem’s realistic, ‘if’ you have the time and funds.
It’s worth noting that winnings can be added to via freebies you’ll get along the way like free slots and casino games, but it is vitally important to distinguish these freebies from risk-free matched betting. The slots and such are straight up gambling in most cases and you should not be lured into that side of the betting industry. Use your freebies, maybe get some lucky wins from them, but don’t buy into more.
Let me know how you get on with your own matched betting journeys. I’d love to hear if you find it clear or confusing, easy or hard. Are you looking for other ways to make money on the side? Try looking into cashback apps and sites that can help your savings, or even learn to play the Asda Price Guarantee game.