With so much uncertainty happening in the world right now you might be holding off starting your matched betting journey – let me tell you, I get it! Is now a good time to start matched betting? Let's take a look.
What is matched betting?
Matched betting is a legal and tax free way to utilise 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 it 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 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
Is it worth starting matched betting right now?
With lots of sporting events cancelled or postponed, you might be wondering if it is still worth doing matched betting right now.
My short answer is this: as part of a diversified stream of income, YES it is worth starting matched betting right now!
The basics of Matched Betting
Bookmakers are always looking at ways to entice new customers and to keep people betting – one way they do this is to offer free bets. We can use these free bets to cash out bonuses with no risk and a guaranteed profit.
By matched betting you will open a new account at a bookmakers, deposit and make your first bet – the qualifying bet. You then go onto an exchange, such as Betfair, and “lay the bet”. Laying the bet means you are betting on a different outcome to whatever you bet on at the bookmakers.
For example, if you were betting on a football match between Team A and Team B, with your bet being for Team A to win, laying the bet elsewhere means you bet that Team A don’t win. Note that you aren’t betting on them to lose, but rather that they won’t win. Because of the way that exchanges work, plus the commission they take, on this qualifying bet you will be losing up to 10% of your original bet. So if you are betting £20 then you will lose £2 – this is totally fine and a part of the process.
Now you are £2 down, but you then have your free bet. If the bookmaker offered you a free £20 bet once you place a £20 bet, you now have £20 to play with, free! You then find a place a bet on something else, remembering to lay the bet at your exchange of choice.
Once that bet is settled and accounting for your small loss in the qualifying bet, you should walk away with 70-90% of the free bet – in this case you will be getting between £14 – £18, completely free!
Why it is a good time to start matched betting
The tax-free income from matched betting can be really helpful, especially as the UK has officially entered a recession.
You can use your matched betting income for anything you want – it might be to continue to save towards a long overdue holiday, or perhaps you want to squirrel it away into your emergency fund.
The bookmakers still have plenty of offers available for you to make money from.
At the time of writing there are:
- 73 new customer offers from bookmakers
- 99 reload offers (for existing bookmaker customers)
- 58 casino offers
That's a heck of a lot of offers to sink your teeth into!
Get a free trial
If you are ready to start learning more about matched betting then click here to take up your free trial. Complete two offers with support, including training videos. This trial is a great way to see if matched betting is really for you – and make around £40 in the process.