What is Matched Betting?
Matched betting is the ultimate side hustle. It involves profiting from the free bets and incentives that bookmakers offer to entice you to use their gambling services. It is a completely legal, effective and risk-free way of making money (when done properly). With a few hours of effort a week, I managed to earn £400 within the space of 3 months.
How much can I earn?
Earnings vary depending on how much time you put in. The bigger the offer the more profitable they are, and after that you move onto the reload offers. These are offers that bookmakers give out to retain customers.
For each matched bet, you will be left with up to 95% of the free bet amount as profit (e.g. a £25 free bet could earn you £23). You are likely to make a small loss on your first bet, but will make this back up once you claim your free bet. It’s also worth pointing out that earnings from the gambling industry are currently tax-free in the UK!
Tons of people report earning a full-time income from matched betting. But if you don’t have that much time to dedicate to finding the offers and placing your bets, you can still earn a substantial amount of money. Odds Maker report that with as little as 3 hours worth of work a week you can earn over £300! You can increase your profits even more by signing up to the bookmakers through Topcashback (and earning cashback for signing up too).
How long does it take?
One of the best things about matched betting is that you can fit it into whatever time you have spare. Of course, the more time you put in, the more offers you can do and the more money you will make.
Matched betting is something that I pick back up when I have a spare weekend or a couple of days off work and I want to earn some extra money.
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 (or similar incentive). The best way to ensure that you don’t make any mistakes is by using an odds calculator. Odds calculators often come at a small cost but will speed up and maximise your profits. I’d recommend signing up to Profit Accumulator; they can talk you through the process and guide you to making money quickly! Here are the two types of bets you need to place to cash in on your free money:
The ‘Back’ Bet
The back bet is the most traditional form of bet, essentially you’re backing your predicted outcome and saying “I think this will win”. If the team, horse, or whatever else you place your back bet on wins, then you’ll win your bet and the profit along with it.
The ‘Lay’ Bet
The lay bet is the exact opposite to the back bet, you’re betting on every eventually other than a specific outcome and saying “I don’t think this will win”. If the team that you bet on don’t win the match (they draw or lose), you win your lay bet.
Betfair is the most commonly used betting exchange website that allows you to place ‘lay’ bets. Keep in mind that you’ll be charged 5% commission on your winnings from Betfair.
The Free Bet
Following your ‘qualifying’ bet, you are then given the free bet (or similar incentive) to play with. This is where you make your profit! Repeat the process of placing your back bet and lay bet using your free bet and cash out your winnings!
Matched Betting Tips
- Keep it simple. Start with the sign-up offers and only do the offers you understand. When your confidence grows, you can start looking into some of the more complicated offers.
- Record your bets. Often your money will be spread across several accounts and it’s easy to lose track.
- Stay secure. Keep a list of your accounts, logins and passwords. This will save you time and keep your details secure when logging into all your bookmaker accounts.
- Don’t be afraid to ask for help. If you think you’re due a refund or a free bet, use live chat to ask the bookmaker where it is.
Looking to Earn More Money?
Matched betting is a perfectly legitimate way of earning some extra money. But please please please be cautious when signing up to bookmaker (betting) websites. Once you’re signed up they will try their best to encourage you to keep spending your money on their site! Always be GambleAware.