What is Matched Betting? Only the best side hustle of all time.
I can’t recommend this enough. If you want to earn an income from the comfort of your home, if you have kids, if you are saving for something big, or just want to increase your earnings.
You may wonder what Matched Betting is maybe or worry that you have never placed a bet in your life. It doesn’t really matter, as you will learn everything that you need to know by doing it.
OK, so a few months ago I was looking through twitter, keeping up to date on tweets from other money savers, and the same theme kept popping up. It was Matched Betting. To be honest I had never heard of it before but thought I would take a look. This has got to be one of the best things that I have ever done. It was a genuine thing. A real amazing way to make money, with so many perks.
Will I lose money doing Matched Betting?
I found that Matched Betting was ‘risk free’ and that you don’t need to pay tax on the profits that you make. This is because, in the UK we don’t pay tax on winnings. Matched betting is also legitimate and not illegal as you may wonder. The best part is, you can make between £500 and £1000 per month as a side hustle!!!!
I really did a hell of a lot of research in to this before I attempted to start doing it, as I had no one to ask for advice.
I Matched Betting the same as gambling?
Now let me start by saying that this is NOT gambling. The majority of offers are risk free and you should only do these ones if you don’t want to chance any of your own money. You will need to use a little of your own money, maybe £60 to £100. Don’t worry too much about this though as you will be making the money straight back on your bets.
How does Matched Betting work?
As a basic introduction, Matched Betting involves using all those ‘FREE BET’ offers that you see advertised. We will be extracting the cash from them by placing a qualifying bet and then a free bet. This free’s up the cash and you can transfer it to your account. By doing this you will be earning hundreds of pounds across many bookies.
You will start doing this by placing a ‘qualifying bet’ which uses your own money. We first register with an exchange, I will use Betfair as an example of an exchange that you can use. By using an exchange you can place a ‘lay bet’ which is a bet against an outcome e.g against Manchester United to win. We will then be looking for a ‘bookie’ such as Coral. Coral will offer a sign up such as ‘place a £5 bet and get a £20 free bet’. To extract the money from the free bet we need place the initial £5 qualifying bet without losing money. When I say that you won’t lose money, I mean that you won’t lose much on this first ‘qualifying bet’. Usually you lose a few pence, but make up for it further down the line.
I would suggest writing down some of the terminology that I am using, and taking time to understand what it means. Especially if you have never placed a bet before. The key to nailing this, is to make sure that you understand it properly first. Luckily for us there are several companies out there that will help us learn and find some fantastic offers. I use Profit Accumulator for this, and I couldn’t recommend them enough. They provide training videos, profit trackers, signup offers, reload offers, casino offers and all types of calculators to help you.
Signups will be what you will be concentrating on to start with as they are big money earners.
Now, when placing you qualifying bet, you will be looking for something with odds of around 2.0 to place your ‘back bet’ on. A back bet is when you back a team or outcome such as Manchester United to win. When using the tools in Profit Accumulator, they will also find the matches for you with the closest odds, which can be a godsend. As you have backed Manchester United to Win at odds of 2.00 (decimal odds always if possible), then you now need to place a bet against that outcome, this is your ‘lay bet’. We go over to the exchange (betfair) and place a bet against Manchester united to win. The odds need to be as close as possible, so around 2.1.
Using this example you would lose around 37p on this bet. Do not worry about this as you will be making it back, plus more profit from your free bet. The outcome on the calculator will be the same whether Manchester United win, lose or draw. You will still lose 36 or 37p. You will need to have money in the exchange to place this ‘lay bet’. The stake is the amount shown on the calculator (£4.88). This bet will actually cost you the ‘liability’ amount shown on the calculator (£5.37). The match rating for this is actually 92.64% which you could improve a lot by getting much closer odds. This is where the software on Profit Accumulator helps as they will find better matches for you. In total, this has cost you £10.37 so far and you will see a £10 return. The commission at Betfair is 5% so we take this in to account in the calculation.
When this bet settles, you will have your money back in either the bookies (Coral) or the exchange (Betfair), minus the 37p. This will unlock the free bet from the bookies that you have been waiting for. If it is a £20 bet then you will then need to find something to bet on. On this second bet, we need to look for higher odds. I usually try and stick to higher odds of around 4.0. When I put this in the calculator, it shows that if I have a £20 free bet (select free bet snr) and the odds to back are 4.0 with a lay bet of odds of 4.05 then my return will be £14.25, regardless of the outcome. The ‘lay bet will cost me £45.75 but the back bet is free. The winnings from my bets will more than cover the costs. When I minus the 37p loss, I come out with £13.88 profit from these two bets.
Once you have managed to get to grips with the process of ‘backing’ and ‘laying’ then you will do this a lot quicker and this could be done in minutes. Matched Betting provides an amazing wage for a few minutes work. Your money will be paid in to your account with a couple of days after you decide to withdraw it, or you can use it to fund other bets.
Profit accumulator have been amazing for me and guide you every step of the way. There are so many tutorials to get your head around this like I had to. Step by step guides so that you know exactly what you are doing and to ensure that it is ‘risk free’.
They are offering a free trial, and say that they can make you £45 from this trial alone. I used the free trial and its definitely true, you can make £45 straight away or as quick as you can take in the process. Once your free trial is up, then you can cancel or carry on at £17.99 per month. I would carrying on as the £17.99 will be a small cost when you are making £500 per month on this. Without the guidance of Profit Accumulator, then I wouldn’t be aware of the numerous offers that are available.
Using Top Cashback with Matched Betting
I would also recommend using Topcashback to open your Betfair account as they offer £20 cashback on signups. If you don’t yet have a Topcashback account then sign up here as they also offer signup offers themselves which are also very good, such as free Mac makeup, free petrol or free cinema tickets.
*The information in this post is correct to the best of my knowledge and the opinions stated in this post are my own. The actual figures are for example only, and are not the offers that are available from that particular company. Please check this with the individual company and always read the terms and conditions of the offers.
If you have enjoyed this post, then you might want to take a look at how I save money every week.