Matched Betting Guide: How to make money from matched betting
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The Ultimate Matched Betting Guide: Matched Betting Explained

*This post may have affiliate links, which means I may receive commissions if you choose to purchase through links I provide (at no extra cost to you).

 

If you are a regular reader, you will know how much we like matched betting. We think that it is the very best way to start earning money online and if you have never earned a penny online this really is the place to start.

It is an easy, tax-free, risk-free way to earn thousands every month that requires very little money upfront. How many other opportunities allow you to do that right from the very start?

We can’t think of any. Which is why we want to share the secrets of this money making scheme with you in our ultimate matched betting guide.

People from all walks of life make money every month through matched betting. It is very popular with stay-at-home parents who can fit it around their childrens’ schedules to earn an income from home. It is ideal for anyone looking to earn a bit of extra money from home, all you need is a couple of hours to work on it each week.

Don’t worry if you have no interest in sport or have no knowledge of sport, it doesn’t matter. All you need is the desire to make some money online in the easiest way possible.

In this post, we will explain all the ins and outs of matched betting and show you the easiest way to make money from matched betting. It is a long post (after all this is the ultimate guide!), as well as explaining what matched betting is all about we will run through an example where we earn £16 in 20 minutes. You can follow these steps yourself and start earning TODAY!

What is Matched Betting?

Matched Betting Guide

Matched betting is a technique used to profit from the free bets offered by bookmakers. It is considered risk free as it is based on using maths, rather than chance, to ensure a win every time.

We know that the terminology puts some people off. A lot of people just don’t associate the word betting with the prospect of making a guaranteed profit. This is entirely understandable and in most cases, it would be correct.

But matched betting is different. It is a way of making a guaranteed profit every time that you make a bet.

Matched betting takes advantage of promotions run by bookmakers offering free bets to their customers. They do this to attract new customers and to encourage loyalty and more frequent gambling from their existing customers.

As a matched better we know that we can guarantee a return of around 80% from every free bet that we gain. We do this by matching each bet with the opposite outcome at a betting exchange.

 

How Does Matched Betting Work?

Most offers require you to place a normal bet before you are given your free bet. For example “Bet £10 get £30 in free bets”.

This means that for most offers you will need to bet on two events, the first bet is a qualifying bet that will earn you the free bet. You will then repeat the process to realise the profits from your free bet. For each event, you must place a back bet and a lay bet to cover all the possible outcomes.

We will use a football fixture between Tottenham and Liverpool as the example, but the process is the same for all sports.

1. Back Bet

First, you place back bet using a bookmaker. E.g. Back Tottenham to win with a stake of £10. This means that you are betting with the bookmaker that Tottenham will win.

If Tottenham wins, the bookmaker will return your £10 stake with a bit extra depending on what the odds were. If Tottenham loses, you will lose your £10 stake. (Don’t worry, we win either way, keep reading as it doesn’t actually matter if Tottenham win).

2. Lay Bet

Your second bet will be on a betting exchange where you place a lay bet on Tottenham. This means that you are betting that Tottenham won’t win.

If Tottenham loses or draws the match, the exchange will pay you as a winner. If Tottenham wins the match you will lose your stake at the exchange. (But this will be covered by the first bet with the bookmaker).

It sounds complicated but it really isn’t and once you have done it a few times it will become second nature. The key thing is to find an event where the odds at the bookmaker are very close to the odds available at the exchange. You will also need to use a matched betting calculator to ensure that you place the correct stake for your lay bet.

 

How Easy is Matched Betting?

Matched betting is really easy once you get the hang of it but you will probably need to do a few offers before you start to feel completely comfortable with the process.

You will learn quickly though, before I started matched betting I had never made a bet online, within my first month I had made over £800 in risk-free profit.

This is probably a fairly standard amount to make, some people have earned far more quickly than that while others take it slow or have only limited funds to start off with.

To get you started we recommend the free trial at Oddsmonkey. They have tutorials (text and video) that will walk you through your first few offers so that it all begins to make perfect sense.

It’s free and you should make around £45 for about an hour’s effort. If you have read this far then surely it is worth giving that a go!

Once you have completed the trial you will need to do 5 main things to successfully make money through matched betting:

1. You will need to find offers.

2. You need to find a close match between the bookmaker and betting exchange on an eligible event.

3. You need to place a back bet.

4. You need to calculate the correct lay stakes and lay the bet.

5. You need to repeat steps 2-4 for the free bet.

It is perfectly feasible to do this all yourself by trawling through all the bookmakers’ websites and comparing their odds with the betting exchange, and you can use a free matched betting calculator to ensure that you get the stakes correct.

Or you can do it the easy way, and have Oddsmonkey do all the hard work for you.

1. Best Offers

List all the best offers for new accounts and list new existing customer offers every day, They tell you exactly how much each offer is worth and explain how to profit from the offer.

2. Best Matches

Provide you with the best matches through their Oddsmatcher software with a direct link to the fixture you are betting on.

3. Do the Maths

Automatically calculate the correct lay stake and place the lay bet instantly through their integrated Oddsmatcher.

Oddsmonkey really makes the whole process far simpler and quicker. It is also more profitable as you can be sure that you are taking the best possible match and you can take advantage of the 0% commission rate with Smarkets.

The time saved will also allow you to complete more offers and further increase your profits. I don’t want to labour this point too much, check out our post on the best matched betting sites if you want to find out more about what makes Oddsmonkey so great.

It’s £17.99 a month or £150 for a whole year. This is easily covered by what you earn so for me it’s a bit of a no-brainer if you want to give matched betting a go.

 

Join OddsMonkey NOW and Start Earning EASY MONEY

 

 

How Much Money Do I Need To Start Matched Betting?

One of the great things about matched betting is that you need very little money to get started. Compared to other online money making ideas you do not need to risk your money buying a load of products that may or may not sell, and you don’t need to pay any sign up fees to get started. It is possible to start with as little as £10 but if you can put more cash in you will be able to earn a lot quicker. This is simply because will be able to do more offers at the same time. Most matched bettors work on building up a ‘bankroll’ that they use for taking up offers, this makes it an increasingly profitable hobby over time.

£100 is generally considered a good amount to get started but if you have more than this, you can really start to see a good return in the first couple of weeks.

 

How Much Can I Earn From Matched Betting?

This is the big question everyone wants to know the answer to when we talk about matched betting. The truth is there is no specific answer that will be true for everyone. So much of it depends on the time that you can put in and how many offers you take up.

Do you just want to do the big offers with guaranteed reward? Or are you prepared to take on the offers where you only win if a specific event happens? This is the secret to the eye-watering amounts that some people make each month. I am somewhere in the middle, I don’t have the time to get on every offer going so I hover in the £500-900 per month region.

There are other people making thousands each month but this involves some more complex offers such as 2-Up, 2-Clear and low-risk casino offers. These offers can involve taking on a small qualifying loss with no guarantee that you will win a free bet. However, mathematically the odds are in your favour and over time these prove to be highly profitable.

 

How Much Time Does Matched Betting Take?

This is directly related to how much you are looking to earn. If you are just looking to make a couple of hundred pounds each month then a few hours a week will be enough. If you are looking to push past the £1000 per month mark then you should be looking at spending 3 hours or more each day, probably more than this on a Saturday when there is much more sport going on.

 

Is Matched Betting Tax-Free? How Can That Be?

It is not often that you can earn money without giving a sizable chunk to the taxman, but this is one instance where it is possible. This massively increases your effective hourly rate and the return on your investment.

All we are doing is placing back bets and a bookmaker, and lay bets at betting exchange such as Smarkets or Betfair. Both of these bets count as gambling and are therefore not subject to any form of taxation.

Of course, we know that what we are doing isn’t really gambling, we have a guaranteed profit to make and we aren’t taking on any risk of losing. We often aren’t even interested in the result.

Nevertheless, for tax purposes, we are gambling and this gives us a nice income boost over other ways to make money online.

It also means that you don’t have to worry about how this might affect your tax status, you don’t have to worry about filling in forms and you don’t have to worry that what you are doing is in any way dodgy.

 

Can I Make Money Like This Forever?

Once you have done all the sign-up offers (there are loads!), you will still be able to earn a regular side income through the ongoing offers available at the bookmakers. These can actually be more lucrative than the sign-up offers, although some offers do not guarantee a payout every time. One of my favourite offers is with William Hill who will give you a free bet of up to £100 if your horse wins the race by 2 Clear lengths. There are all sorts of ways to make money, some best ways are:

  • Weekly bet clubs
  • Price Boosts
  • Reload offers

One thing that can stop this from being a long-term venture is what is known as a ‘gubbing’. If the bookmakers see that all you are doing is taking up the free bet offers, they might restrict you from being able to take part in such offers.

This doesn’t seem very fair – you wouldn’t expect Tesco to restrict you for buying too many special offers, but it is nevertheless part of the life of a matched better.

Gubbings are inevitable, but there are so many bookies that most people find a way to maintain their earnings through different bookmakers. It is a risk though and is one of the reasons that it is advisable to have other sources of income, whether it be a traditional job, or through another online venture.

Our two-pronged approach to earn money online in the UK shows you a way to take some of your matched betting profits and put them towards a real online business.

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Did You Enjoy Our Matched Betting Guide

We hope that you did!! If we have inspired you to give it a go, please let us know in the comments below. Matched betting is fun and gives instant cash rewards. It is not like other options for making money online where you have to invest lots of time or money before seeing a financial reward: you will earn from day 1.

You can earn good money too. Definitely enough to fund some extra family travel adventures and put More Life in Your Days. Maybe you will even like it enough to consider it as a genuine part-time or full-time income stream and use it as the first step to build an online business.

Either way, if you want to earn some money online we think that this is the best place to start. So what are you waiting for?

Click Here to Start Earning Real Money NOW!

 

OddsMonkey

 

Matched Betting Guide

 

30 Comments

    • Chris

      Thanks, I am glad you enjoyed it. Matched betting is currently not really available in the USA but there were some gambling laws changed just a few weeks ago (August 2018).I think that this will allow matched betting to catch on in the USA very soon.

      It is already very popular and easily accessible in the UK, Ireland and Australia.

  • LYNNE

    Hi, this was all news to me! I have never heard of it before and I’m not much of a better either 🙂 I will take a look at Oddsmonkey because this is a really cool system if it works!

    • Chris

      Hi, I am glad that you enjoyed my post and have learnt something new! I can assure you that this absolutely does work! How much you earn varies a lot due to the amount of time you put in and the amount of offers you do, but some people earn incredible amounts. I think its a good idea to check out Oddsmonkey as they really make the first few steps simple, especially for a non-better such as yourself (and me before I got into this). Good Luck!!

    • admin

      That is brilliant! Glad that you have already made some money! That is just the start, you could earn yourself a few thousand no problem. Let me know how you get on! You’ll find me on the oddsmonkey forum if you have any questions(or just ask here). Good luck!

  • Christen Thomas

    Very interesting topic – I learned about a whole new activity today :). Looks like a really cool tool to use and an interesting way to make money. I will share this post with some of my friends!

    • admin

      Thanks, I am glad that you learnt something new and thanks for sharing the post! Best of luck if you decide to give matched betting a try, it is a great way to make some many fast!

  • Ralph

    I’ve heard a bit about match betting, but I really wasn’t sure what it was about. After reading this, It’s clearly something I need to learn more about. Not much of a gambler, but I’ll admit that this does peak my interest a bit. Do they have a free trial for anyone looking to try it out? Seems very interesting.

    • admin

      Thanks for your comment Ralph! Yes, you can get a free trial, just visit this website. As I am sure you can tell, I am a big fan of matched betting and really do recommend that you give it a try. 

  • Vicki

    I love to have a bet on the Melbourne Cup every November and I am going to take a look at this site as it looks like fun

    Can people from all over the world use it or is it strictly limited to Britain as I see you are using pounds within your article

    Be good to know this 🙂

    • admin

      Hi, this article is mainly focussed on matched betting from the UK and Ireland. It sounds like you are in Australia, so take a look at this site: https://bonusbank.com.au/ which is focus on matched betting from Australia. The principles of my guide will be the same, so it should be a great way for you to earn some extra cash. Best of luck!

  • Alenka

    Matched Betting sounds really interesting! 

    I’ve read about so many easy to make money online ways, that this sounds almost to good to be true. 

    If I understand you correctly, there is very little chance to lose money? Especially if you go through your suggested site, Oddsmonkey? I would really like to know more about this. 

    Learning about matched betting is really worth it, if one can make a reasonable income. Will check out Oddsmonkey and hopefully make some cash!

    • admin

      You are right, there is very little chance of losing money. The only way is if you make a mistake which could prove costly. That is one of the reasons that I recommend Oddsmonkey. 

      Firstly their training will ensure that you know what you are doing and will help walk you through your first few bets to ensure that you dont make a mistake early on.

      Secondly, their software will minimise that chnce of making a mistake. They will calculate the correct stakes, and the intigration with the betting exchanges will put it on for you to remove the chance of you betting on the wrong outcome etc. 

      It is still worth taking it slow to begin with, just to be extra sure that you understand the process.

  • Tower Bridge Consultants LLC

    This is very interesting stuff. I am in the USA so unfortunately for the time being this is not too feasible. It is amazing how clever this approach is. It does not seem to be against the rules where you are as you are just taking advantage of what is given to you.

    Do you think that the betting laws in the USA are going to continue to loosen up in the next couple of years?

    Look forward to finding out more information in the future about this strategy.

    – Jay S.

    Tower Bridge Consultants LLC

    • admin

      Thank you for your comments. It does seem that the gambling laws are being relaxed in the USA and I know a lot of the big European bookmakers are looking to get involved, (their share value shot up when the news for the US came in). Hopefully I can do an update for our American readers with some good news soon…. 

  • Genesis

    This was a really interesting post. I’d never really read up on matched betting and didn’t realize it was something that was so risk free. I’ve always avoided betting because when I tried it when I was younger and didn’t do well at all. This seems like a really good alternative to regular betting options.

    • admin

      Thank you for your comment, it is great when I hear from my readers! Yes, this is a much better option than just straight gambling. As long as you are careful it is totally risk free and you can guarantee a profit every time you take on an offer. The profits can really make a difference to your lifestyle.

  • Strahinja

    Hi Chris,

    I never heard of this, but it looks legit and fun! I really apriciate your detailed explanation, especially on how to use it and what to expect. For £1000 per month,  I think that 3 hours everyday is well invested time. Of course, that is ok if person is not planning to do something else serious, because it takes time, like in any business. People that love this type of earning would probably invest even more hours, I persume. Although I’m into affiliate marketing the most now, I will check out their site and maybe consider trying this.

    Thanks,

    Strahinja 

    • admin

      Remember that the earnings are tax free so that £1000 per month is actually earned at a very good hourly rate. 

      You may want to consider combining matched betting with your affiliate marketing work, thats what we do and we have made a post about the benefits of this approach. 

      You can read it here

      This approach works really well because matched betting gets you money really quickly and can cover the costs of your affiliate marketing business whilst you build it towards profitability. 

  • Holly

    Very interesting!  I see in the other comments that it is not currently available in the USA.  I was actually  going to ask the same thing 🙂  The tax laws are so different in US that I suspected as much.  But I will say that your article has made me very curious about the subject and has definitely laid out some solid information. 

    • admin

      Sorry, you cant get involved just yet but maybe things will change soon! All of the other ways to make money online in this post are open to residents of the USA so maybe you could find something in there that takes your fancy. Our top recommendation if you cant use matched betting is using Wealthy Affiliate to build a website that can earn you good money. Its a longer process than matched betting but the rewards can be immense.

  • Lee

    great article. to be honest i’ve done matched betting and made money with it, however other business plans took over and i left it. (also hammered all the free offers) I really enjoyed the process of it, however found myself having the occasional cheeky punt (didn’t lay) which was ok when i won but not good when i didn’t. great way to make some side money and more. thanks again for the article. 

    • admin

      It can be hard to resist the occasional punt. I used to do it with the low value free bets, but not with my own real money. It is still dissapointing when it loses and you know you could have guaranteed profit but simply matching the bet so best avoided. Matched betting may not get you the huge wins of an outside bet coming in, but consistent small profits really do stack up to good sums.

  • DaYanna

    Hello- this is a VERY interesting topic, I never knew there was anything like that around. I have had a look at Oddsmonkey and they explain everything so clearly. One question though, if you place the bet how would you receive your income and are there only specific  companies that you can bet on? Thank you for all that you do 

    -DaYanna 

    • admin

      Thank you, your profits will initially be in your account at the bookmaker or the exchange. You can simply withdraw when you need but if possible you should leave some money there so that you are ready to get on all the latest deals. Not all companies offer free bets, stick to the ones on Oddsmonkey and you will be fine. Good luck!

  • Dale

    This was an interesting read on something I had never ever heard of before.  I have to be honest I have never been a fan of betting especially when Im spending my own money.  However I do have to say the way you explain things almost wants me to try something like this.  However I wouldn’t even know how or where to get started.  Is this something that can be don anywhere?

    • admin

      Don’t worry, if you follow the link for the free trial it explains exactly how to get started. I was in the same boat when I started, I had never done any betting, you will soon get the hang of it! You can do it from anywhere but you need to use a VPN or similar trick to make it look like you are in the UK.

  • KerryAnn

    Thank you for this information.  I have heard of this type of betting before but never really had it explained properly. Your post made it very clear.

    The odds do sound so much better than playing a lottery ticket each week, or playing the pokies. Maybe I shall put it on my bucketlist for next year.  Unfortunately this close to the holiday season, spare time is at a premium and I expect that one does need to study the odds, not just rush in head first.

    • admin

      Thanks for your comment. You do need to be able to dedicate a bit of time to matched betting if you want to make a good amount of money. But there is no need to study the odds, just go for the best option on the oddsmatcher. I would say to give the free trial a go. And see if it is something that you would like to take further. At worst you will have made £45 for about an hour of “work”. Good luck!

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