I discovered matched betting about a year ago. At first, it sounded too good to be true, but after doing some research on the topic, I could see that I could make some easy, and fast money at it.
I was earning around £150 per week matched betting over the space of around 2 months, it was free money, that required basically zero work. I thought I could scale this up, and be a full time matched better, but, I was wrong. At first, things where easy, the bets where simple, but, as time went on, the bets got more time consuming, and complicated, I was spending an hour placing a bet to make £5, which in my eyes was not worth it.
I stopped matched betting at this point, and kept my profits to reinvest in whatever else I could come up with.
Is Matched Betting Worth it
Yes, matched betting is definitely worth a shot, there are plenty of people who are full time matched betters, they make a living from it, and from what I hear, they make good money too, around £1000 a week, though, this would require a lot of time and effort.
Matched betting is a great way to get some money saved up, fast, and can produce quite a rewarding hourly rate, though, it is not the type of business I would want to expand on, I will explain why below.
So, why do I think it is not worth it in the long run?
Matched betting can make you very healthy profits, and fast profits at that, which are tax free, and basically rick free, but, the more offers you complete, the harder it becomes to get easy, high paying offers to complete. Starting out, you will get loads of offers, such as free £10 welcome bonuses, which you just have to place one bet with to get the money out, but, the further on you go, the harder the offers get, for example, you may have to wager £300 worth of bank roll just to get a free £5 bet, placing this £300 worth of bets might take you a week, and by the end of it, you might come out with £3 profit. For me, this was not worth the time and effort.
Should I start Matched Betting?
Yes, you should give it a shot, like I have said before, it is very easy money at the beginning, and you can easily make yourself £1000 in the space of a few months, maybe even a month, depending on how much time you put in, and how much you invest.
If you are trying to start a business, and need some startup capital, matched betting is a great way to get that capital.
Can I loose money?
The short answer, yes, you can loose money matched betting. You will only loose money if you make a mistake placing your bet, I actually only lost money once, and it was about £10, not too much compared to the profit I made. I didn’t place an opposing bet correctly, and the bet I placed, lost.
If you are careful when placing bets, and don’t rush things, you will not loose any money.
How does it work?
Once you understand how matched betting works, it is a very simple process, though, getting your head around it at first can be quite tough. The easiest way to explain how it works is by showing you an example.
If you are from the UK like myself, you are bound to have seen adverts from bookies offering things like:
Sign up to William Hill and get a £50 free bet.
Apply to Bet365 and get a £200 bet.
It is these free bets that we use to make money. You sign up with a bookie in order to get a free bet, but to withdraw the money, you must first place a bet with the free money. To do this and make money from it, you must to sign up to a betting exchange, such as Betfair. A betting exchange will allow you to bet against the bet you have placed with your free money at the bookie (lay bet), so, if the free bet looses, the bet on Betfair will have won, and you will be able to collect your profit.
That is the simple explanation of how it works.
How To Start Matched Betting – Make £15 Right Now
What I have explained above is all you really need to know to get started, but, if you want to take it a little bit more seriously, then you will have to do a little more research on the topic. I didn’t really dive too deeply into matched betting, as I found, for me, it wasn’t worth it, but, you may have a different opinion.
To give you a better understanding of how matched betting works, it is best to actually work through an example. Go signup with OddsMonkey to start with, then head over to the Start page, you will see this at the top of the website, on the left hand side.
Now, take a read through the tutorials, to get yourself familiar with the phrases that you will need to understand.
After you have read through them, you will be able to make yourself some tax free money. There are 2 free matched betting opportunities in the Start section of OddsMonkey that you can make some money with, so, my advice is, make that money, then use it to pay for the Premium service, if you don’t like it, you can always cancel it.
I strongly advise that you signup to OddsMonkey premium service, as it gives you access to hundreds of matched betting opportunities that would otherwise take you days to find, they also have some really handy tools that you can use. If you decide not to sign up with them, you will have to manually search for offers from hundreds of different bookies, then search for bets that have very close odds, in order to be able to make a matched bet.
I really hope this article has been of some help to you, I know I didn’t really dive too deeply into how matched betting actually works, I didn’t spend that much time doing matched betting myself, so I am just covering what I know about the topic.