You might be wondering if matched betting actually works? This tax free side hustle earned me £12,000 in my first 12 months and continues to be a source of income for me. Does matched betting work? Let's find out.
What is matched betting?
Matched betting is a tax free way to utilise bookmaker offers to make money from free bets. It can be really lucrative and a great side hustle for those looking to boost their income. It is becoming so well known that it has even featured in The Guardian.
How much money have I made from matched betting?
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
I was skeptical at first
If matched betting is so good then why doesn't everyone do it?
I hear you.
When I first heard about it, I thought that matched betting sounded too good to be true. I thought that it couldn't possibly last.
It wasn't until I started my free trial and completed two offers that I saw that matched betting does work, and I decided to give it my best shot.
It sounds too good to be true/it is a scam
This is one of the biggest setbacks that anyone has with matched betting – it simply sounds too good to be true so it must be a scam. That is normally a massive red flag for me too and how I usually spot a scam.
What I really liked about matched betting was that no one was asking me to pay them to get started, or promising me a life of riches if I signed up under them, much like a pyramid scheme. Instead, I was able to take out a free trial and decide for myself if it was worth it.
Of course, I read about matched betting a lot before taking the plunge and even spoke to my family about it. There are plenty of people making a significant amount of money every month but it's important to know how betting work.
- If matched betting is so good, why isn't everyone doing it?
- Can you do matched betting long term?
- 3 bank accounts for matched betting.
Can you lose money matched betting?
The nature of matched betting means that if done correctly, by following the instructions and terms and conditions of every offer, you shouldn't lose any money.
However, there are a few instances where you can lose money matched betting, such as gambling, not using your free bets in time and making mistakes. You shouldn't let these put you off – as you can see, I've made a lot of money from matched betting, even with a couple of mistakes along the way.