Matched betting has been a great side hustle for me over the years, and if you are looking for a bank account just for your matched betting then I have some great suggestions for you.
What is matched betting?
Matched betting is a way to make some serious guaranteed profit by utilising the free bet offers that bookmakers offer to both new and existing customers. It has turned into one of my favourite side hustles because it is tax free.
You can do matched betting in one of two ways – you can complete all of the matched betting offers in a month or two to make £1,000 – £2,000, say for a holiday, Christmas or anything else you are saving for, or you could look to do matched betting long term. There is no right or wrong, but whatever you choose, matched betting can be really lucrative and it is a great side hustle to consider.
How much money I have made from matched betting?
Matched betting has been a great side hustle for me! By completing matched betting offers I've made a fair amount of money.
You can see all my previous matched betting income below. Please note that from January 2017 I have been focusing on growing my business with a provable income, with a lot less time to dedicate to matched betting:
- Month 1 earnings – £1,430
- Month 2 earnings – £1,619
- Month 3 earnings (including a Q&A) – £849
- October 2015 earnings – £1,105 (Remember that month 3 also overlaps into October 2015 as I switched to reporting it per calendar month.)
- 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
- October 2016 earnings - £691.85
- November 2016 earnings - £773.74
- December 2016 - £0.00 (took a break)
- January 2017 - £473.43
- February 2017 - £514.97
- March 2017 - £214.12
- April 2017 - £394.76
- May 2017 - £481.25
- June 2017 - £249.68
- July 2017 - £158.73
- August 2017 - £301.58
- September 2017 - £427.61
- October 2017 - £203.83 (away for 2 weeks)
- November 2017 - £45.84 (away for most of the month)
- December 2017 - £187.24
- January 2018 - £349.54
- February 2018 - £223.39
- March 2018 - £493.01
- April 2018 - £189.31
- May 2018 - took a break
- June 2018 - took a break
- July 2018 - £139.32
- August 2018 - £301.65
- September 2018 - £121.94 (on holiday)
- October 2018 - £328.51
- November 2018 - £459.31
- December 2018 - £258.45
- January 2019 - £148.37
- February 2019 - £199.84
- March 2019 - £579.54
- April onwards - paused for a mortgage application
Why do you need a different bank account for matched betting?
You don't have to have a different bank account in order to complete matched betting offers, however it is really helpful if you do have a bank account dedicated to matched betting.
Matched betting involves doing a lot of transactions, and keeping track of your deposits, withdrawals and profits is a heck of a lot easier when you aren't contending with your usual banking transactions. Knowing that your entire matched betting pot is in one bank account helps out a lot of people and saves them time.
Lots of matched bettors prefer to have a bank account solely for matched betting.
High street bank accounts for matched betting
You can get a current account at high street banks, although these usually take extra time to set up because you need to go into a branch with your ID, and sometimes even need an appointment to open a new account.
- If matched betting is so good, why isn't everyone doing it?
- Can you do matched betting long term?
- Matched betting & mortgages – what you need to know.
Monzo bank account for matched betting
Monzo is an app based bank, and you can be set up very quickly.
Simply sign up, upload your ID and you will be ready to go. Your card will be sent in the post within a few days and you will be ready to go.
You can top up your Monzo account at any time by bank transfer.
With Monzo you can also set up different savings pots using the app. This is great for budgeting, but it can also help your matched betting record keeping or savings goals.
Monzo benefit: If you sign up for Monzo using my referral link then you will get £5 once you spend on the card.
Monese bank account for matched betting
Monese is an app based bank account that you can set up quickly (again you will need your ID).
The downside to Monese is that the card will cost you £4.95, but if you use my referral link you will get £10 when you first spend on the card (this has been down to £5 in the past so please double check when you click through what today's rate is).
You can top up your Monese account by bank transfer or card payment (with a small fee).
Monese benefit: If you sign up for Monese using my referral link then you will get £10 after you have made your first transaction on the card.