In my opinion Matched Betting as a side hustle is by far one of the most profitable you can do with fairly low start up costs. In this post I’m going to explain what it is, how it works and a few things you may want to consider before starting.
I’ve done Matched Betting myself and did very well out of it – I worked out I was averaging around £46 an hour for the minimal time I spent on it!
What is Matched Betting?
Matched Betting is a tax-free way to make a profit from free bet promotions that are offered by betting companies.
How does Matched Betting work?
Pretty much all bookmakers advertise promo deals of free bets to get new players to join up and start playing with them so there is a whole host of offers to get started with. Then, once you have signed up with various bookmakers they will send through offers for more free bets and offers as a way to keep you playing on their platform. With the help of some clever calculators from websites such as OddsMonkey, Team Profit and Profit Accumulator you can use all these free bets to make guaranteed profits.
Companies to use for Matched Betting
- OddsMonkey – this is the company we do our Matched Betting with, you can read our How to start Matched Betting with OddsMonkey post (including a weekly diary of our profits) here
- Team Profit – read our How to start Matched Betting with Team Profit post
- Profit Accumulator – read our How to start Matched Betting with Profit Accumulator post
Isn’t it gambling? Is there a catch? Is it legal?!
Matched betting is not gambling, it is one of the one surefire ways to ‘beat the bookies’ and guarantee profit from bets – if they’re placed correctly. There is a lot of money to be made using this technique and you can profit long term from it, too. There isn’t a catch and it is 100% legal, it’s even had a write up in The Guardian!
RELATED – Is Matched Betting Legal and other FAQ’s
It sounds too good to be true…
I know but I promise you it isn’t! If you follow the walkthrough guides fully and take you time with it there really isn’t a risk to Matched Betting.
How much does it cost to get started?
You can do the OddMonkey free trial (no need to enter payment details to access it either!) and see how you get on, if you don’t like it then fair enough you can walk away with your profit and be done with it but if you understand it and like it then you can sign-up for the premium membership which is £19.99 a month or pay upfront for the year for £150. It’s easy to make the cost of the monthly membership in 1 day once you’ve got started and I’d say its definitely worth the investment.
How much can you earn?
It all depends on how much time you have to dedicate to it! Some people just have the evenings spare and can still make over £500 a month doing it, others do it full time and earn £2.5k upwards a month. I think the best way to go about it is to set yourself some goals of how much you’d like to try to earn each week or month
Things to consider before you start Matched Betting
Start-up Cost – You can start a free trial with OddsMonkey where you can earn up to £63 with 4 starter offers BUT you will need a small pot of money to start off with. The more money you can start with the better but I’d say £60-100 is a good pot to start with
You’ll need a bit of time to get your head around it/concentrate on the first few bets – Once you’ve got the hang of the tools on OddsMonkey then it really does become second nature but when you are starting out I’d recommend making sure you can set aside some time to really go through the tutorials and get used to what you’re trying to do.
Are you currently looking for a mortgage? – If so then it might not be the best time to look at starting Matched Betting. Although it is 100% legal, above board and tax-free it still utilities Betting sites and any kind of betting sites showing up on your bank statement is going to raise a flag to the as your outgoings tend to get scrutinized when applying for a mortgage. Hold off until you’ve got a mortgage sorted and then you can start Matched Betting and use your profits to overpay it!
Have you had an issue with gambling in the past? – Matched Betting isn’t gambling BUT if you have had issues with gambling in the past it is worth thinking about if you can handle being on the bookies websites, they are designed to draw you in. If you think it could trigger old habits then don’t attempt it.
Ready to get started?
Matched Betting as a side hustle may not be for everyone but if you are willing to put the time into getting your head around the basics then it is a sure-fire way to make good profits quickly! If you’re ready to take a closer look into what it entails then have a look at our post Matched Betting with OddsMonkey which gives you info on and access to the walkthroughs of your first 4 free offers.