Making extra money with Matched Betting is one of the best things that you can do for yourself. It can be a bit difficult to get your head around at first but I promise once you’ve got started, it’s really straight forward.
Matched Betting is NOT gambling.
I just want to make clear that matched betting is in no shape or form gambling. Gambling by definition is the wagering of money or something of value (referred to as “the stakes”) on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods (Wikipedia).
Matched betting is not gambling because we don’t care if we win or lose, because we will still get some money. Confused yet?!
Matched betting is betting one way, then on another betting site – betting the other way – so they cancel each other out. The way that you make money on this is by using free bets that are offered by betting sites. Because when you use the free bet when betting both ways, you will end up winning a small part of the free bet.
When I first looked into matched betting, the terminology really confused me. I went on a bunch of different websites and it just wasn’t clicking for some reason – so I hope that I can explain it in easy to understand language – but please feel free to ask any questions as I am happy to clarify anything or run through it with you.
Back bet – This is a normal kind of bet that you would do such as ‘I bet England will win the football match against Slovenia’.
Lay bet – This is where we bet the opposite way to cancel the bet out. So ‘ I bet that England WON’T win (whether this mean lose or draw)’.
Betting site/bookmakers – there are various betting websites that offer free bets.
Betting exchange – these are websites where we place our ‘lay’ bet. The most common one is Betfair.
With me so far? So just to re-iterate, we place a backing bet on a normal betting site, then we place a lay bet on a betting exchange to cancel each other out.
Betting companies offer free bets as an incentive to get you to join up. By doing the backing bet and laying bet, you end up getting back a percentage of the free bet (usually 70-90%. So if the free bet is £20 then you get 70-90% of £20).
If this still seems confusing for you or a lot of hard work, I recommend signing up to Profit Accumulator. It is a website which guides you through the process, and collects all of the offers for you. There are a lot out there so this is the best way to save you from doing a ton of work. It will save you a lot of time!
Profit Accumulator have a free trial whereby they help you complete 2 bets and then you can cancel it if you wish. Then if you are happy to continue you can sign up to their membership which is £22.99 per month currently, or £150 annually (£12.50 per month). They also have a 30 day money back guarantee.
Matched Betting is a great way to make at least £1000 extra cash per month.
I can whole-heartedly recommend matched betting because the extra money that I have received has been so helpful to me with paying down my debt. What could you do with extra hundreds of pounds per month? Pay off debt, go on holiday, buy a car, invest in some stocks?
You will need some money to start off with
If you have around £60-£100 that you can start with, this is the minimum kind of amount that you will need. The reason that you need money to do this with is because when you go on the exchange site, you will need to put money in there to lay the bet. Don’t worry you will get this back because you are cancelling each bet out, but the website doesn’t know that!
Some points to note are:
- There are only so many free bet offered on sign ups, but there are a lot of reload offers from the betting sites so this won’t ever dry up.
- It’s worth doing some small real bets as well because you don’t want the gambling sites to become wise to your matched betting as they could stop giving you free offers – called ‘gubbing’.
- Some betting sites do soft credit checks when you sign up. Some don’t!
- If you are going to be applying for a mortgage any time soon, set up a different bank account for your matched betting. Even though it is not gambling, it will look like it is to the bank when they see your statements.
- Matched betting is tax-free because it is classified as gambling income.
- It is not a scam – matched betting is a totally legal thing to do, and Profit Accumulator is a genuine website.
- Make sure that you double check everything before placing your bets. The only way that you can lose money on matched betting is by following the steps wrong.
- If you have had a problem with gambling in the past, please do not go on any betting sites.
This is one of those things that people think is too good to be true, or a scam. It’s most definitely not. I do it and I know other people that do it and have been doing it for years. It’s actually brilliant – it’s a little known side hustle that can be a really lucrative earner depending on how much time you spend on it.
If you are reading this you are more than likely thinking that maaaaybe you’ll give it a go one day but not right now because you don’t really understand it. And that is completely understandable! If something appears too good to be true, us humans we can be wary (and rightly so). But if you sign up to a website like Profit Accumulator, you can do the free trial and just cancel if you don’t get on with it. They will explain it with guides and videos – just make sure that you double check everything and you will be fine.
I was so nervous when I first started out and I read as much as I could, but just going for it is the best thing that you can do in all honesty.
Don’t forget that any money you get from matched betting is tax free, and any bit of extra money is helpful. The hourly rate from matched betting is pretty good!
Here’s an article from The Guardian covering Matched Betting in case you’re wondering how legit it is.
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