I have really missed writing income reports, so I thought it was time to come back with an income report from one of my favourite side hustles – matched betting! Keep reading to see how I made over £200 from this side hustle last month, completely tax free.
What is matched betting?
Matched betting is a legal and tax free way to utlise offers that bookmakers give to new and existing customers. These offers can be turned into a guaranteed profit thanks to matched betting. It has been around for years now, and even The Guardian have written about it.
The amount of money that people make from matched betting varies and is dependent on a few things. How much money you can put into your matched betting pot, how much time you have and how many accounts you are able to create all impact your matched betting earnings.
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
How much money did I make from Matched Betting in July 2020?
I made £201.59 from matched betting in the month of July 2020.
What happened in my life in July?
With matched betting you definitely get out what you put in, so I think it is really important to tell you what happened in my life last month so that you understand how much time I had for matched betting.
Firstly, I cannot believe that July 2020 has passed already! With lockdown rules lifting and gyms reopening, I feel as though I have been really busy in my personal life.
I have also had some pretty big business goals to achieve!
I managed to put in around 9-10 hours into matched betting in July 2020.
Get a Matched Betting Free Trial
When you're starting out Matched Betting, it's both easier and quicker to make money, with some harder offers left until you have gained more experience (and sometimes a bigger matched betting pot to help you to complete the offers).
I have been using Profit Accumulator to not only teach me matched betting, but also to keep me up to date with the best offers. They list all the offers known currently in the UK and spell them out with step by step instructions.
Profit Accumulator give you a free trial where you can earn around £45 (I think around £40-£60 is a fair estimate). This should cover your first month's membership and allow you to test the waters and understand what's involved with Matched Betting and decide if it is right for you. If it isn't, that's totally fine too!
Now you've got your account set up, you have access to all the offers, and you've completed the two free beginner offers. Where do you go from here?
I recommend working your way through the Beginner Offers section, where the offers range from £10 to £200. You'll need more money in the bank to complete the bigger offers, but hopefully by the time you reach them you will have the money needed to complete them.
Take your time going through our Beginner Offers section. There are lots of useful hints, tips and videos included along the way that will help you down the line. On completion of the Beginner Offers, you should have pocketed yourself up to £500.
During the Beginner Offers, you may find yourself waiting around for cash withdrawals from the bookies, this problem will go away over time as you build up cash in your bank account. If you started with a bigger budget, you won't have this issue.
- 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.
How to make money consistently from matched betting
In order to make money consistently from matched betting, there are some important things that you need to remember.
You need to get yourself into a routine of matched betting, making it a regular part of your week. Ideally, you should be matched betting for 1-2 hours a day to make £1,000 or more per month.
Keep money within your matched betting pot, that way you can complete offers faster and more easily.
Set yourself matched betting goals – you can have a daily target, a weekly target or a monthly target.
Take part in the community on Profit Accumulator – there is a massive support forum where you can ask questions, discuss offers or just talk about what you are going to do with your matched betting earnings!