Ah, my third month and matched betting is over and I still love it! If you remember, month one saw me earn £1,430 and month two saw me earn £1,619. Before I tell you month three's earnings, let me tell you a little bit about month three…
Month three has been extremely hard on me. I have lost a few days to depression, my husband is signed off work with an injury (which means I am spending more time with him and less time doing productive things) and I also made the very big decision to quit my job. I released my first e-book titled 50 iPhone Apps To Earn cash which has been launched on Amazon. This is my long winded way of saying that I have not dedicated as much time to matched betting as I should have, and it shows in my earnings.
In month three I made £849, bringing my total over three months to £3,989.
I am really annoyed not to have hit £4,000 by 3 months, but at only £11 short I think I shall let myself off. These earnings are an accurate reflection of the amount of time I have been able to commit to matched betting within the past month and unfortunately I can see the next month being the same because of how busy I will be.
I am still using Profit Accumulator.
By the end of October I am going to need to make a withdrawal from my matched betting pot – Tony only receiving statutory sick pay has been tough and I am hoping that by dipping into the matched betting pot we won't need to delve into our savings. Only time will tell – we are trying to live very frugally in the mean time.
I asked you on Twitter to send me some questions you might have about matched betting so that I can answer them. If you have any questions that you would like to appear next month then please let me know.
How soon can you start withdrawing money?
You can withdraw your winnings at the bookies immediately and they take around 3 days to land bank in your bank account. As for withdrawing money from your “matched betting pot”, you can do this whenever you want! The more money you have in your pot then the faster you can earn money AND you can earn more (by being able to back and lay at higher odds) but there are no rules. This is the first month that I am taking money out of my pot – in an ideal world it would have stayed there to build up a nice nest egg, but Life and Things have happened.
You could choose to immediately withdraw all your earnings, leaving your originally pot there, or you could choose to withdraw 50% off your monthly earnings. You can do absolutely anything you want!
One strategy you can use is to put aside a high amount of money (over £1,000), sign up for one or two months of Profit Accumulator and plough through the sign up offers before cancelling your membership. This should see you earning around £2,000. But after paying £17.99 x 2 you might as well pay £150 for the year and have access to the reload offers. Even if you completed reload offers just once a week you'll still earn a lot more than the £150 you paid out.
What are your strategies on the inplay reloads?
I wait until half time and then I look at close matches. Waiting until half time means that the odds settle for around 15 minutes, giving me a chance to find decent odd matches. Just before half time I will have a few tabs open – the bookie, my exchange (usually Betfair or Smarkets), the PA calculator and the PA forum. A lot of the time the forum members will share their brilliant matches, meaning I can use those matches. If not, I usually look at Team A to win, a draw or Team B to win, purely to save me time. If there isn't a close enough match there then I immediately look at the under/over goals (if football) and the correct score markets.
Why aren't I making more money/how did you make so much money?
I have had so many people ask me this so I thought I would share my tips:
- I track my money – I have a bank account dedicated to matched betting so that it isn't getting confused with my own money. I also use a spreadsheet to track my earnings – by each bet that I place and by the amounts of money I have at each bookmarker, exchange, in play and my bank account. That takes about an hour a week to update the second spreadsheet.
- I have a massive pot! I started with £1,000 (you can start with around £60) and I haven't withdrawn any money until this month. That means that I have had over £4,000 available to play with – which means placing bets at much higher odds. This has really helped me to accelerate my earnings, but please don't let this put you off! You do not need mega money to make money, it has just helped me to make more.
- I don't do casino offers – they are not risk free and at the moment I am not cool losing up to £100 or so to potentially win something. I know lots of people who HAVE won massively, but it just isn't for me. I stick to the completely risk free matched betting.
- Time allowing, I do it a lot. My 3rd month of earnings are down because I just haven't had the time – some times it has been 5 days between bets and that is reflected in my earnings. Before that I was placing anything from 5 – 20 bets a day.
- I am fast – with the help of Profit Accumulator I have really sharpened my skills since started matched betting. I can now spot a great odds match manually pretty quickly, and I have learned so much about sports betting that I am no longer reading and re-reading everything before I place a bet.
How is it tax free?
Although matched betting is a risk free way of making money, it is still seen as income from gambling, which is non-taxable.
How much time does it take?
As much or as little time as you want it to take. The more time you put into it then the more money you will make. You can do as little as 15 minutes a day and still be earning £100s every month.
Can you make a mistake and lose lots of money?
Matched betting is risk free but there are a few mistakes that you can make. To date I have made 3 mistakes that haven't cost me a grand total of £5. This is because you aren't typically placing very high bets – usually amounts from £5-£25. You are then laying them at your exchange to make a small loss (you are aiming for under £1.50 for a £25 bet). Remember that I have made almost £4,000 now, so any small mistakes are pocket change to me.
Is joining Profit Accumulator worth it?
110% yes! Without Profit Accumulator I would still be sitting on the sidelines wondering what matched betting is all about. Instead now I have made almost £4,000 in 3 months, completely tax free. This is a life changing amount for us to have on top of our usual income and has allowed us a lot of freedom. Profit Accumulator have taken a lot of time to create videos that explain matched betting in an easy to follow way. They provide you with all the tools you need to be successful at matched betting. You can join for FREE and try out two offers before deciding whether you would like to take out the platinum membership. The membership is either £17.99 per month or £150 per year and it gives you access to the sign up offers worth around £2,000, daily reload offers and a support forum available 24/7.
Changes in my matched betting income reports
To help keep things more consistent, I will now be recording my matched betting earnings by the month e.g. October, November etc. instead of reporting them in the middle of the month to reconcile with when I started matched betting. This will help me to better track my earnings as well as publishing them on Make Money Without a Job.
Well there you have it – a not so great month 3 but I am still thrilled at what I have managed to achieve. If you are matched betting then how did this month look for you?
Previous matched betting income reports
- Month 1 earnings – £1,430
- Month 2 earnings – £1,619
- Month 3 earnings (including a Q&A) – £849
- October 2015 earnings – £1,105 (overlaps with month 3)
- 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 (on holiday)
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