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After doing matched betting full time for several years, it’s one of the things I am asked about most often after Amazon FBA. The main question I get is if there is still money to be made. The answer is yes. It may not be as lucrative as it once was but whilst bookmakers offer promotions there will always be money to made using the technique.
You can see in the above image the bonuses the mainstream bookmakers offer in just welcome bonuses ALONE. That’s without ongoing offers and free bets.
What is matched betting?
In it’s most simple form it is taking advantage of promotions offered by bookmakers trying to entice customers. What a matched bettor will do is go through each of the bookmakers and take their welcome bonus and then from there use ongoing promotions that they offer to extract a guaranteed profit.
After you have a wide range of bookmakers open, you then start getting emailed what are called ‘reloads’ which are designed to entice you back to bet with them, which again you can usually extract a guaranteed profit from.
There are other ways to extract value from offers and promotions such as casinos and value betting but I will stick to pure matched betting for now.
Pro’s of Matched Betting
- It’s TAX FREE.
- It’s risk free. If done properly and you follow all of the rules and don’t start gambling, there is no risk, you are covering every outcome.
- You can spend as little or as much time as you want on it.
- Flexible hours. If you want to do it during the day or during the weekends, its flexible and can be fit easily around when you have some free time. You do not have to be at your computer when the events you are placing your bets on are on, you don’t have to watch the event. You place your bets and then leave it.
- Low start up costs. You don’t need thousands of pounds to begin making money and can start with as little as £100
- You don’t need to know about sport, you don’t need to know about betting, you just need some free time, a small float and to follow the instructions and calculators.
Is it gambling, how does it work?
If done properly it isn’t gambling.
The way it works is, bookmaker A will have a welcome promotion along the lines of…
Join our site and bet £50 for a £50 free betBookmaker a
So what happens is, you open an account, deposit your £50 and once you’ve bet £50 they will give you a £50 free bet.
To take the risk out of it, you use what is called an exchange where you can basically sell your bet. So you would back for example, Manchester United for £50 at bookmaker A. You would then go to the exchange, find that exact football match and LAY (bet against) Manchester United.
What happens with the football result here is:
- Manchester United Win = you win at the bookmaker and lose at the exchange
- It’s a Draw = you lose your bookmaker bet but win at the exchange
- The other team win = you lose your bookmaker bet but win at the exchange.
Generally this overall would leave you a couple of pounds DOWN. So out of your £50 you’ve lost maybe £3. However, you now have a free bet to do exactly the same thing with and if you lost say £5 on this bet after backing and laying, you have the following result.
First Bet loses £3
£50 free bet added by bookmaker
Free bet loses £5
TOTAL = £50 – £3 – £5 + £50 = £92 – Once you take off your initial £50 you have made £42 PROFIT
And then you simply go through each bookmaker and do each sign up.
Where can I learn matched betting?
I’m not going to lie, you can learn it and do it absolutely free, find your own offers, learn the ropes and not pay any subscriptions perfectly fine, that’s the way I did it around ten years ago. However, it is time consuming and you do need a bit more of an understanding. If you want to take this route, you can look at sites like Moneysaving Expert who had a free forum with guides and such.
Personally I think sites like Profit Accumulator are the best way forward now, especially if your time is limited. They guide you through each offer, tell you what bets to place, check the terms and conditions for you, post the offers daily to save you going through each site manually and just generally make it so much more streamlined. For the £24.99 a month you pay them they will make you that money back tenfold in the time they save you and the offers you may have missed otherwise.
Currently they have a free trial giving you the first 2 offers and everything you need to get started for FREE. I recommend you do this, you should make around £30-40 profit and this will then cover your first month subscription where you will have access to all the sign ups and all the reloads if you wanted to continue. If not, you’ve made an extra £30-40, bonus.
If you do use my link, thank you and feel free to drop me a DM on instagram @ukmoneymaker1 and I’ll be happy to double check anything for you before you place bets etc or if you have any questions on anything matched betting, any time.
Is it legit?
It’s totally above board and it’s even been written about in many national newspapers, just google Matched betting and you will see a plethora of articles regarding it. You are opening accounts with regulated bookmakers and simply using their promotions. These sites are regulated by gambling commissions and authorities so your money is completely safe.
My Matched Betting Tips
These tips are things I did when matched betting, they just make things a bit more organised and easier to keep track of. I always tried and suggest you run your matched betting like you would a business, stay organised, stay focused and have a plan and you’ll see the rewards.
- Open a new email address, hotmail or gmail will be fine. This just saves your normal inbox getting full of marketing from bookmakers. You do want to leave the contact by email options on as this is often how you will get emailed offers.
- Ensure to have a copy of your driving license or passport and a utility bill less than 3 months old either scanned into your computer or at hand to scan in. Bookmakers can and will ask for this when you need to withdraw and you don’t want to have to delay it by not having the documents.
- If you can, have a separate bank account to use. Just a standard current account is fine, It just makes it much easier to keep track of what withdrawals are in, what money you are making and generally a good overview of how you are doing.
- Keep track of where your money is. A basic spreadsheet or just even notes in your phone so you can tick off what withdrawals are due and when they have been paid. You can download ready made ones. A popular one used to be called Ultimatcher and was free if it is still around, just give it a google.
- If possible, keep the profits in the matched betting account to reinvest. The more money you have available, the more you can make as you can be doing bigger offers and more than one offer at a time (for example at weekends when there is so much sport on). I know this isn’t possible for everyone but it just makes it so much easier if even for the first few months you just do this until you have a good float to comfortable do the offers you want.