Matched Betting: A Beginner’s Guide – With Results

Are you looking for an easy way to make some extra money every month?  Most of us are looking to increase our basic income as much as possible in the most straightforward way. There are many ways to achieve this, but I have not come across anything that has made me money as quickly and easily as matched betting. 

I was definitely sceptical to begin with. Although I had been aware of it for a number of years, I was hesitant to jump in.  I thought it would be hard.  It would be time consuming.  I would lose money.  A few weeks ago I started seeing more and more about matched betting on Instagram in the financial community. A large number of people were making a good amount of money as a side hustle.  I decided to bite the bullet and give it a try so I could share the results with my readers.  I cannot tell you how pleased I am that I went for it!

Want to learn more?  Keep reading to the end to find out how much I have made in just over a week!  You will not believe it!

What is matched betting?

Matched betting is a strategic approach to profit from the free bets and incentives offered by bookmakers. Unlike traditional gambling, where you rely on luck, matched betting involves placing multiple bets to cover all outcomes, ensuring a profit regardless of the result. It’s essentially a risk-free way to make money from bookmakers’ promotions.

Is it legal?

Yes, matched betting is legal in the UK, where it originated. It’s based on the principle of using free bets offered by bookmakers, which are essentially promotions to attract customers. As long as you’re of legal gambling age and follow the terms and conditions set by the bookmakers, matched betting is a legitimate way to earn extra income.

Is it difficult and time-consuming?

While matched betting may seem complex at first, especially to those unfamiliar with gambling concepts, it becomes easier with practice. The initial learning curve involves understanding the basic principles and terminology of matched betting. However, once you grasp the fundamentals, the process becomes more intuitive, and you can complete bets more efficiently. As for time commitment, matched betting can be as time-consuming as you make it. Some people dedicate a few hours a week to it, while others treat it as a part-time or full-time income source.

Do I need to know anything about sport?

No! You will not need to know anything about sport or who is likely to win. You don’t even really need to understand how odds work. The tools and calculators take all of the hard work and guessing out of placing your bets. I certainly have no idea about football or horse racing, which are two of the main sports that I bet on.

How much can I make?

The amount you can make from matched betting depends on several factors. These include the amount of time and effort you invest, the size of your initial bankroll, and the availability of bookmaker promotions. On average, beginners can expect to make a couple of hundred pounds per month, while more experienced bettors can earn upwards of a thousand pounds or more. It’s important to note that matched betting is not a get-rich-quick scheme, but rather a consistent and sustainable way to generate extra income over time.  There are no income guarantees, but if you read on, you will see how much I have made so far.

How do I get started?

Getting started with matched betting is relatively straightforward. First, you’ll need to sign up with a reputable matched betting service or platform. These platforms provide guidance and tools to help you navigate the process Oddsmonkey. These platforms typically offer tutorials, calculators, and support forums to assist beginners. Next, you’ll need accounts with several bookmakers to take advantage of their promotions. A couple of my favourites so far have been Betfair and Paddy Power.

Finally, you’ll follow the step-by-step instructions provided by the matched betting service to place your bets and lock in profits.

How much do I need to get started?

How much you’ll need to get started with matched betting depends on your individual circumstances and goals. Generally, you’ll need a modest starting bankroll to cover initial bets and build up your profits. Many beginners start with around £100 to £200, although some choose to invest more for faster returns. Keep in mind that your bankroll serves as a safety net to cover any potential losses and ensure you have enough funds to take advantage of lucrative opportunities. As you gain experience and confidence in your matched betting skills, you can gradually reinvest your profits to grow your bankroll and increase your earning potential.

What happens when I’ve used up all the sign up offers?

Once you’ve exhausted the sign-up offers provided by bookmakers, there are still plenty of opportunities to profit from matched betting. While sign-up offers typically offer the largest returns, ongoing promotions such as reload bonuses, free bets for specific events, and loyalty rewards continue to provide avenues for profit. Additionally, matched bettors can explore more advanced strategies such as accumulator refunds, extra place offers in horse racing, and price boosts. By diversifying your betting portfolio and staying updated on the latest promotions, you can continue to generate consistent profits even after the initial sign-up offers have been completed. Moreover, as you gain experience, you’ll become more adept at identifying and capitalising on profitable opportunities, ensuring a steady stream of income from matched betting.

Where can I learn more?

There are numerous resources available for those interested in learning more about matched betting. Online forums and communities dedicated to matched betting are great places to ask questions, share tips, and connect with other bettors. Additionally, many matched betting services offer comprehensive guides, tutorials, and customer support to help you get started. Some popular matched betting websites include OddsMonkey and Outplayed. These platforms provide everything you need to succeed in the world of matched betting, from beginner-friendly tutorials to advanced strategies for maximising profits. Oddsmonkey also has a Facebook group where you can ask any questions and get quick answers for any queries you have.

Results

I started matched betting on Monday 15th April with a bankroll of £300.  It is now Tuesday 23rd April and I have made a profit of £213!! 

In my time I have tried a number of side hustles and can quite confidently state that I have never made anywhere near as much as this in such a short space of time!  I have not found it time consuming or difficult.  I can place a bet here and there when I have a spare few minutes. The thing I find slows me down is having sufficient bankroll to cover the bet. I have also already started getting more offers from bookmakers whose sign up offers I have used.

It is generally recommended that you don’t use your main current account for matched betting.  This is because it makes it much easier to keep track of your profits.  I use Monzo for this as the account is easy to manage.  If you join via this link, you will get £5 free! Having a separate account also keeps bookmaker transactions away from your main bank account, which some people worry will affect their chances for getting a mortgage or remortgage.

Next steps

If you want to give matched betting a go, click here to try out the Oddsmonkey free trial. Sign up via this link you will get £25 if you take out the membership after the free trial. I took out the full annual membership and have nearly made all of that money back in just over a week, so after that, everything will be pure profit! I am definitely going to keep this as a very lucrative side hustle and hope that I can keep the momentum to make a little extra each month.

Do you think you might give matched betting a try? Let me know in the comments? Don’t forget to share this post and subscribe to my newsletter.

Disclaimer 

I am not a financial advisor and this post does not constitute financial advice. I am solely sharing my own opinions based on my own experiences. It is recommended that you seek the advice of a financial professional before making any financial decision.