Matched betting is easily one of my favourite side hustles, and one I rave about a lot. However, how much money can you make from this tax-free side hustle? Let's take a look at my matched betting income.
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 a tax free way to make money.
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 way to do it, but whatever you choose, matched betting can be really lucrative and it is a great side hustle to consider.
How is matched betting tax free?
Currently, gambling winnings aren't taxed in the UK.
That means that if you win the lottery you get every penny that you have won.
Matched betting, despite not being gambling, is classed as gambling income, and therefore you don't have to pay tax on it.
My matched betting income
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
Average matched betting income
The great thing about matched betting income is that you can do as many offers as you like, depending on the time and the bankroll you have available to you.
Because of this there is no average matched betting income.
Some people look to make a few hundred pounds a month, and others look to make a living from matched betting.
- If matched betting is so good, why isn't everyone doing it?
- Can you do matched betting long term?
- Bank accounts for matched betting.
How much time you need to spend doing matched betting to make a full time wage?
For the purpose of this blog post, let's classify a full time wage as £1,000 – £1,500 a month.
In order to earn that from matched betting you can expect to spend 2 – 3 hours per day matched betting.
Remember that because matched betting is tax free, £1,500 is equivalent to a salary of over £20,000 before tax.