Matched Betting: How Much I Earned in 1 Month
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If you’re looking for a tax-free side hustle then matched betting is worth considering. Matched betting is a way of profiting from the free bets that most gambling websites offer when you first sign up.
I can confirm that matched betting is 100% legal way to earn tax-free money. As long as you make sure to avoid mistakes this side hustle can be a great way to earn extra money in your spare time.
In this post I show you exactly how much I managed to earn from my first month of matched betting.
How much can I earn from matched betting?
How does Matched Betting Work?
To start your matched betting hustle, you will need to use mathematical equations to match a lay bet with a back bet, cancelling out any risk of losing money and profiting from your free bet.
The most effective way to find out which bets are going to maximise your profits and prevent you from making any mistakes is by using an odds calculator. Odds calculators speed up and simplify the whole process. I’d recommend signing up to OutPlayed; they can talk you through the process and guide you to making money quickly!
By following the process you are guaranteeing a profit from free bet promotions. There is no risk involved because you are covering all outcomes of the same event.
How Much Did I Earn in a Month of Matched Betting?
Using OutPlayed I earned £196.45 by signing up for 9 free betting offers and using the maths to place bets that cover the cost of any loses. Here’s a breakdown of the offers I signed up to as well as how much profit I earned from each one:
PaddyPower = £20.72
My first matched betting experience involved signing up to PaddyPower (who at the time were offering a £30 free bet). I placed my qualifying lay bet on PaddyPower and back bet using an existing Betfair account, resulting in a 78p loss. I then placed my free £30 bet using the same accounts and made a profit of £21.50.
Ladbrokes = £26.38
Next up: Ladbrokes £50 sign up offer. I placed my qualifying bet lay bet and back bet using my Betfair account again. This qualifying bet resulted in a £2.86 loss. Then using the free £50 bet I made a profit of £29.24.
William Hill = £14.81
At the time of signing up William Hill were offering a £20 free bet on all qualifying bets. My initial bet cost me 91p and after using my free bet I made £15.72.
Betfair Sportsbook = £23.43
For a while I was using Betfair (exchange) for all my back bets but for this one I decided to switch to Smarkets as they charge less commission. I placed my qualifying lay bet using Betfair Sportsbook and my back bet using Smarkets earning a £30 free bet and initially losing 91p. After placeing my free bet I was able to withdraw £24.34.
Betway = £23.37
At the time of signing up Betway offered a £30 free bet. My qualifying bet resulted in a 92p loss. And the free bet gave me a £24.29 profit.
10Bet = £32.56
I got a £50 free bet from 10Bet, I had to take an initial loss of £4.86 but after using my free bet I made £37.42.
BetVictor = £21.13
After placing the qualifying bet I lost 91p and gained a £20 free bet. Using this free bet I gained £22.04.
188 Bet = £15.94
After the initial 78p loss and using a £20 free bet I gained £16.72.
Tote Sport = £18.11
Tota Sport offered me a £25 free bet, allowing me to gain £18.11. These bets were settled within 8 hours (all placed on the same day).
Other betting sites that you can find free betting offers include bet365, Virgin Bet, Bet Bull, NoviBet, Uni Bet & Toni Bet.
My Matched Betting Top Tips
In my month of matched betting I learned a few lessons. I think that it is important to mention that you often need some money in your account to be able to place the qualifying bets – if you don’t have much money to spare then this side hustle might not be for you. I placed all my bets on football but it can be very stressful making sure that you have placed the right lay and back bets, here’s how I reduced the stress of getting my bets right:
- Make a spreadsheet to keep a track of all of your bets, when they settle and how much you have loss/profited.
- Sign up to OutPlayed – you’ll get a free trial and learn the basics.
- Check and check again that you’ve placed your bets on the right event, time and got your numbers right.
- Only do what you can manage. The beauty of matched betting is that you can stop and start whenever you like.
- Join a matched betting community. They can often be a great source of support and motivation if you begin to find it tedious.
- Make use of any other ‘free offers’ that the betting sites offer. I’ve won a fair bit of money from free betting offers.
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This side hustle isn’t for everyone as it does require some maths skills, patience and some initial funds. But should you have those prerequisites this can be a great way to earn some extra tax-free money in your spare time. If you’re experiencing gambling problems please visit begambleaware.org.