Matched betting has been a great side hustle for me – I earned £12,000 in my first 12 months, completely tax free and risk free. However, lots of you are wondering if matched betting is something that you can do long term, so I have put together this post to help you out.
What is matched betting?
Matched betting is a way to make some serious guaranteed profit by utilising the free bet offers that bookmakers offer. It has turned into one of my favourite side hustles because it is tax free and risk free! Even The Guardian have written about matched betting. People often ask me “if matched betting is so good, why isn’t everyone doing it?” – and I have addressed some of the popular questions in a blog post.
You can see all my previous matched betting income reports by clicking on the links below:
- Month 1 earnings – £1,430
- Month 2 earnings – £1,619
- Month 3 earnings (including a Q&A) – £849
- October 2015 earnings – £1,105
- November 2015 earnings– £915
- December 2015 earnings – £1,347
- January 2016 earnings – £777
- February 2016 earnings – £393 (on holiday for 2 weeks)
- March 2016 earnings - £701.64
- April 2016 earnings - £622.36
- May 2016 earnings - £1,019.16
- June 2016 earnings - £447.18 (away for a week)
- July 2016 earnings - £689.52
- August 2016 earnings - £491.86
- September 2016 earnings - £279.29
Common questions about matched betting
I get emails every single day about matched betting, and I love helping others figure out if it is for them. The most common questions I am asked are:
- How much money should you start out with?
- How much money can you make?
- How long will it take?
All of these questions can be answered differently depending on what your goals are and how much time you have available. Some people want to hammer matched betting hard and make some money for an upcoming holiday, and others want to have a regular income from matched betting, long term. There is no right or wrong way to go about it – either take a quick cash hit or go slow and steady for more regular earnings.
I would recommend that you start with at least £60 and complete the first two offers in your free trial. This should see you make as much as £60 back on top of your original £60. If you decide that matched betting isn't for you then enjoy your extra £45-£60 and you will have all the money back in your bank (including your earnings!) within 5 days. As for how much time it will take, that depends on you and how much time you have to dedicate to matched betting. I had my first bets on within one hour, and that included registering for my free trial.
Won't bookies shut down your accounts?
Nope, unless you are doing something fraudulent (such as having more than one account at a bookmaker). What you have probably heard about it called “gubbing” or “being gubbed” and it just means that the bookies say you cannot get any more free bets from them. You can still place bets and withdraw your money, but you won't be eligible for their offers. Gubbings do happen, and it is important not to take them personally. There are still plenty of bookmakers with daily offers. I have been gubbed by a handful of bookies and I am still earning a nice amount of money every month.
What about after the sign up offers?
The sign up offers are the low hanging fruit – this is where the majority of the money is when you first start out. After completing the sign up offers you can decide to move on to the reload offers, or stopped matched betting and withdraw all of your money. There are new reload offers every single day, so there is always something to make money from. There are also big events throughout the year where there are lots of offers on.
Can you make money with reload offers?
Definitely! However, it does get harder than with the initial sign up offers. It can become more time consuming and sometimes there just aren't as many offers. However, big events such as the Cheltenham Festival, have lots of offers to choose from. I keep paying for my Profit Accumulator subscription because of the reload offers. Every single day there are new offers posted, with a rating of how profitable they are. If I am short of time (which is pretty much always), I can look for the best offers to complete using the star rating.
What about mortgages and matched betting?
Matched betting is a great way to boost your income, however one of the most common questions I get asked when it comes to matched betting is how it will affect any mortgage applications happening in the distance future. Many people are put off by matched betting because they are planning on applying for a mortgage within the next 2 years, but if you find yourself in this situation you don’t need to worry! Here’s what you need to know about matched betting and mortgages.
Can you do matched betting long term then?
YES! I have been matched betting well over a year now and I am still making money. I am not earning as much as I did when I first started matched betting, however I am still earning money. I need to focus on taxable forms of income to help us to get a mortgage in a few years, so I have cut down on my matched betting significantly.
It does get harder and you need to learn more to keep your earnings going long term. It is also perfectly okay to stick with matched betting for a month or two and make a quick buck before stopping.
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