If you read a few personal finance blogs in the UK, chances are at some point they will mention matched betting as a way of making money. Some of the UK money bloggers have made a LOT of money by doing matched betting. I’m talking 10s of 1000s!
So, why don’t I do it? If it’s that easy to make so much money, then why don’t I join the hoards of people who appear to do it, and do it very well?
Firstly, there’s one simple reason for it. I don’t understand it! I’ve read all about it, and it just seems so confusing. I’ve even done the beginner offers on Profit Accumulator which you can do for free and earn around £40 for. I followed the instructions and made the bets and came out with a profit, just. But, with all the different things you can put bets on, plus the odds and the two ways you do to cover your costs, it just seems so confusing to me. I suppose if I had more time to sit and take it all in, then I’d perhaps understand it better!
It also seems risky. After all, it has the word betting in the title. Somewhere, someone must lose. It can’t just be making profits all the time, otherwise how it is legal? How do any of the big companies make any money from it, if the loop holes are there to be taken advantage of? I suspect that if you can see it as just money, then perhaps it isn’t risky. But at any slight temptation or risk, I imagine it could become like ordinary betting. You are still chasing after the winnings, right?
It also seems too good to be true! And we all know the saying, that if it seems too good to be true, it probably is. I have seen screen shots of winnings through matched betting and it’s more than I earn in a month. Some of them are big wins and I do believe that these people have won these amounts. But I also think that perhaps they’re the lucky few, and not the norm.
I remember in primary school, whenever there was a school raffle to raise money for something, the same family would always win lots of the prizes. The bigger prizes; the ones people actually might want. Me, I always won nothing. Ever. Even a pencil case! Nothing. I know that matched betting is nothing to do with luck, supposedly, but I don’t see why this would be any different.
I mentioned before about doing the beginner offers on Profit Accumulator. I do recommend that people try these for free to see if you like the process (and understand it better than I do!) as it costs nothing for you to sign up. You might then actually enjoy it and decide to sign up for the bigger offers which can make you more profit.
I know I probably should give matched betting a proper go. If you have a pot of about £50 you can make a decent start with it, apparently. But I just don’t think that this time and place, that it’s for me. And that’s why I don’t do matched betting.
Have you tried matched betting? What has been your experience of it? I’d love to hear from you!
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I don’t understand it in the slightest either.
It’s risk free if you understand the maths behind it. Basically you are exploiting free bets that bookmakers offer to incentivise new customers into placing more bets with them. These cost the bookmakers money and will come from their marketing budget so that’s how you make the money. Some will ban you once they catch on to your betting patterns(i.e. only betting with bonus money etc). The profits can be staggering once you start building your own strategies
I’m personally not keen on the idea either. I’m definitely interested in earning extra pennies and pounds, aren’t we all, but I often find I could earn more putting in more time into my work than doing any of the millions of suggestions I’ve found so far. I should probably look at that in a positive light and be thankful I have a job that is suited to fitting in extra work when I can. There is no risk in it either…
Matched betting can be done 24/7 and you can choose to only do risk-free offers.
Plus its tax-free, whereas overtime for some isn’t.
I can understand why people are put off doing Matched Betting but it’s not risky or a scam, you just have to understand the maths and numbers behind it.
I appreciate it’s a lot more involved that just doing surveys etc but then the rewards are much higher too. However there are plenty of dedicated websites which hand hold you through the process like Profit Accumulator, as you’ve mentioned, which is an excellent resource. I also read The Money Shed forums for support.
Matched Betting is my number one side hustle.
You just need to understand the “lay bet” at the exchange to understand how it works. Even many seasoned gamblers won’t have come across “lay bets” so it really is new to the vast majority of matched bettors.
The “lay bet” is betting on an outcome not to win. So if you’ve bet on a horse to win at the bookie, you can then “lay bet” the same horse at the exchange and that bet is effectively betting on the horse not to win (and any of the other horses in the race to win). With all outcomes covered, you can’t lose. (but will incur whats known as a qualifying loss, which you aim to keep as low as possible, literally pennies).
Realistically, it’s better to start with £60-£100+ and from there you can make an easy £300-£500+ a month in a relatively small amount of time per day.
I’ve been matched betting 18+ months and any month I choose I easily make £500+
Just check reload offers in the morning and the evening.
I love that its tax-free (you can’t offset gambling loses, therefore you cant tax gains). Another bonus is no record keeping required for tax!
Bookmakers make hundreds of millions of pounds profit annually and in total matched betting probably costs the industry £20m a year, its peanuts to them spread across a vast range of bookies.
Once you get the hang o it, you can discover multiple other ways to make money matched betting, even without the free bets and even on accounts they stop your free bets (if you’re gubbed). Some methods are really easy.
There is plenty of training within Profit Accumulator, just take your time. Their forum support is excellent and is available for each individual offer.
I’m happy to freely support you or anyone who wants some advice.
As a former gambler, now a matched bettor, I can state that matched betting is not gambling and is entirely legal. I can also confirm that it is not entirely risk-free – you touch upon the fact that there’s the risk of temptation but there’s also the risk of making human errors (thus messing up bets/lays). It also relies on an element of luck, ie whether a free bet is triggered or not. That aside though, once you understand the mechanics, it is an easy way to make tax free money, if you put the time into it. More time put in = more profits.
I only do MB the odd evening and at weekends and have made over £4k profit so far this year. I also only do football and horse racing offers so kinda limiting myself to the offers, but that’s all I’m happy doing. The big earners do the casino offers.
Keep at it, be patient and you’ll reap the rewards. Good luck!
It isn’t too good to be true. In terms of the welcome Offers, it’s simple and straightforward and you will earn about £600 easy in about 6 weeks. Earning thousands though doesn’t come risk free. The simpler starter offers are definitely risk free, tax free and easy. It’s just a fact.