Matched betting is something that is always discussed when people are looking for ways to make money. So many people say they make money from it, but that makes you wonder if it is so good, why is everyone not doing it?
Firstly let’s address the first question, can you actually make money from matched betting? The simple answer to this is yes you can.
This is not a scam that people share, it is a genuine way to make a little money on the side, however, I think the word betting puts people off. I started matched betting many years ago when we needed some spare cash, although I don’t really do it much now due to gubbed accounts (I’ll explain that in a bit!), in the end, I made about £5000 from a starting pot of £110.
It is a bit daunting when you look into the whole prospect of it and there are so many questions that come up from it. In this post, I am going to answer some of those questions to help you make a decision on whether to give it a go.
Where to get started?
I wrote this post on my other blog a while ago, which gives you a good starting place for matched betting. I would recommend going with a company like Profit Accumulator as I have always found their site the easiest to navigate. They have a list of offers but more importantly easy to follow guides too. There are other companies too that offer the same thing, so it is worth looking around, especially as they all offer free-trials. Find the one that works for you and you find the easiest to follow.
It is important that you watch the videos and follow the steps carefully. Although it is relatively risk-free, if you don’t place your bets properly you are at risk of losing money.
Is it really risk-free?
Although it is fairly risk-free, you always need to do this with a clear mind and caution. As I mentioned above, if you don’t follow the steps there is a chance you will make a loss. Matched betting is all about backing the bet and then laying the bet, so you bet on a result both ways using bookies and an exchange. There will be a small loss of a few pence on this which will be made up when you get your free bet.
However, if you miscalculate by putting in the wrong odds or you are not paying attention, there is a chance you could lose more than the few pence expected and make an overall loss. This doesn’t happen to everyone and it just requires you to double-check your steps and figures before placing the bets.
I’m not saying this to scare anyone away from matched betting, I just want everyone to be aware you need to pay attention! It is worth tracking every bet you place too, just to make sure you don’t forget about them.
There are also non-risk free bets such as casino offers etc, these I would steer clear off until you are confident in how these work and you have built your pot.
How do you actually make money from matched betting?
Money is made via taking advantage of offers that betting companies give you, for example, place a bet of £10 and we will give you a free bet of £10. Now you use a technique called back and lay on the first bet to minimise the loss as mentioned above. Then with your free bet, you will use a different calculator that will help you place a bet that will win you £6-8 on that free bet.
Do that a few time a day and you are going to build a nice pot.
Obviously the starting offers from bookies are great, then you move onto reload offers, just be careful not to get your account gubbed.
What is a gubbed account?
Bookies are all about making money, they love it when your bet losses with them (although it would have won at the exchange so you are fine!). However, they don’t particularly like people making lots of money from them or taking advantage of every offer on.
Once you have done the starting offer with bookies, it is worth just doing some low-cost bets with them on other events without offers. Like when you are matched betting, you will back and lay these bets to reduce your costs. It will, however, help keep your account open for longer as you will look like a “normal” punter.
Sometimes though, no matter what you do you will still be gubbed and this is just the nature of matched betting.
Is it worth the effort?
For me personally, absolutely! Other than blogging, matched betting has always been one of my biggest earnings outside of my job. Once you get into it you can spend a few hours a week on it and still make money.
Once you have done all the starting offers it is up to you how far you go, there are more complicated offers and ACCA offers.
If you are considering it, I would recommend doing a little reading up on it and seeing whether you think you would be able to understand it. You don’t need a huge pot to start with, in fact, you can get going with about £50-£60. Then just take it slowly and see how you get on.
If you have found this post helpful, why not check out our other great posts on how to make extra money.
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