I think this is something we have all wondered at some point: Is there a way to make free money in the UK? Well, the good news is that there most certainly is, and you can start right now to earn yourself some cash in the next hour. In this post, I will outline my favourite way to make money online instantly.
If you follow along, you will make about £45 in an hour and if you keep at it for the next 7 weeks (an hour or so per day), you should be around £2000 up by Christmas. I am sure that could come in handy!
How Can I Earn Extra Money Online?
You will have heard the saying, “it takes money to make money”, well, sadly it is true, but in this case, all you need to get started is £10. That is not too much is it? Not when you know that you will be getting your £10 back anyway. In this short post, I will be outlining how you can turn that £10 into £55. It should only take you about an hour’s work overall to secure this profit. After that, you will have learned how this strategy works and can decide if you want to carry on and make yourself thousands of pounds.
This is a completely legitimate way of earning extra money that is open to all adults in the UK and Ireland, it is called Matched Betting.
Don’t stop reading, I am not suggesting that you gamble your way to riches. This is a no risk, tax-free way to take advantage of free bet offers from UK bookmakers. In essence you back both outcomes from a sporting event to guarantee that you will profit from the free bets no matter what happens.
When you get started these free bets will be earned in the form of a ‘Sign- up Bonus’ from numerous different bookmakers. Your first £45 profit will come from welcome offers at Skybet and Betfred.
I have written an Ultimate Guide to Matched Betting that explains fully the ins and outs of this money making strategy and shows you how it all works and the different types of offer that can make this an ongoing earner, so have a read of that if you would like to learn more.
In this post, I simply want to show you how you can turn your £10 into £55. It is quick, it is easy and it is fun! And don’t worry there is no need to know anything about sport.
Matched Betting: Getting Started
The first thing that you need to do is sign up to Oddsmonkey for free. This site really takes all the hard work out of matched betting. They have a free trial to introduce you to the concept and walk you through your first few offers, they only need an email address, no other details, so there is no reason not to give it a go.
By the end of the free trial, you should have earned around £45, and will be in a position to continue with matched betting in order to earn big money.
Once you have signed up you can read their introductory content and navigate to the first offer which is with Skybet. This requires you to place a £5 bet at Sky, and you will need to lay this bet with another (approximately) £5 at a betting exchange (this bet is for the opposite outcome to your original bet with Sky). Oddsmonkey give step by step instructions and even have a video tutorial to clarify things further.
So this is why you need about £10 to get started, but once the sporting events have played out you will have your £10 back and you will have made around £16 profit. You will have more than doubled your money for a few minutes effort. Are you starting to see why I love this so much?
Step 1: Sign up to Oddsmonkey (Free)
Step 2: Read the tutorials under the START menu.
Step 3: Follow the link in the tutorial to sign up and deposit at Smarkets betting exchange.
Step 4: Follow the link in the tutorial to sign up and deposit at Skybet.
Step 5: Use the Oddsmatcher to find the sporting event with the closest odds match (closest to 100%)
In this example, we will go for the Draw in the Gillingham vs Blackpool match (it is second on the list but a more straightforward example). If you click on the blue circle with an ‘i’, you will get the calculator screen like the one below.
This shows the calculations to ensure that you match the bet properly. Follow the link and place your bet at Skybet (in this example it is £5 on the draw). Then follow the link to Smarkets and lay the bet with a stake of £4.89 as shown on the calculator. As you can see we have made a loss of 21p, but we have now been credited with a £20 free bet.
Step 6: Use the Oddsmatcher to find the best match for our free bet. You should be able to make around £16 from the £20free bet.
As you can see it is a pretty straightforward process. With the tools available at Oddsmonkey you can easily find the best matches, calculate the correct stakes and use the direct links to the bookmaker and exchange. They even have a profit tracker that will record your bets and track your profits for you.
The only way to learn is to give it a try. It is much easier to do than it sounds!
How Much Can I Earn?
Oddsmonkey has an ongoing thread for people to share their profits every month. If you read this you will see that the sky really is the limit. Some people report average earnings over £6k per month with some individual months breaking over £10,000.
These people are working on it full time, have a lot of money to put down and are taking on more advanced offers that carry an element of risk; so please don’t expect to make this right away. Still, this kind of profit is mind-blowing and is achievable over time. Don’t forget that it is all tax-free.
Despite my love for matched betting I have never got close to these kinds of numbers. I don’t have the time to take on every offer and I haven’t really explored all the more advanced techniques. Despite this, I regularly earn in the £600-900 range each month and this has a significant impact on our monthly income.
This is a very achievable figure to aim for, how long it takes will depend on whether you have more than £10 to invest or not. This is simply because if you have more money at the bookmakers, and at the exchange, you can take on more deals at the same time.
Matched Betting: Your New Side Income?
If you like what you have read in this post then you should take a look at our two pronged approach to establish an online business. This utilises matched betting in combination with building your own website to build a sustainable online business. For other great money making ideas please check out our Best Ways to Make Money Online.
We really hope that you have enjoyed this post and have followed along to earn yourself £45. It really is like getting free money and we think it is an unbeatable opportunity to earn yourself some money online.
It is a really flexible way to earn as you can match bet from anywhere that you have your phone whether that be on your lunch break or whilst watching TV on the sofa. The feeling of earning money without actually having to go to work is fantastic.
Have you started your matched betting career? How is it going? Please let us know in the comments below, we love to know that we have helped others to take a small step towards a more comfortable life. Whether you use the extra funds for travelling, Christmas, days out with the kids or to pay the bills, a little extra money can make a big difference!