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This matched betting guide will help you to get started with matched betting, including learning how much you can earn and the best tool to use.
If you’re looking for a way to make extra money in your spare time, let me introduce you to matched betting. I’ve made around £600 in 3 months which has helped me to fund a new car. The great thing about matched betting is that your earnings are tax-free so you don’t need to declare any money you make via this method.
What is matched betting?
Matched betting is a way of making money by using the free bets offered by bookmakers. Most online bookmakers offer free bets as a way of enticing you into signing up for an account. For instance, Betfair are currently offering £40 in free bets after you have placed a £10 bet.
Matched betting is a completely legal way of making money. You can’t lose money with matched betting – it’s not gambling as such – but, just a little note that I wouldn’t recommend matched betting to anyone who is struggling with gambling addiction.
How much money can you make?
I’ve earned £600 in 3 months with minimal effort, but there are others making higher amounts. Emma made almost £1500 in just one month, while Ruth made almost £400 in her second month. Ultimately, it depends on how much you have to invest in matched betting, and how much time you can devote to it. If you’re looking to make and save some extra cash each month, then matched betting is a great way to do that.
What risk is involved?
Essentially, there is no risk is involved as you’re laying and backing your bets (don’t worry I’ll explain this in a second) so you’re not losing any money. However, you need to ensure you take your time when placing your bets so you don’t make any mistakes.
Placing bets online wont affect your credit rating but if you’re worried about the transactions showing on your account, you could always set up a separate bank account solely for betting purposes.
Matched Betting Guide for Beginners
Matched betting involves laying and backing bets to make a profit from your free bets.
Back bets – this is when you ‘back’ for an outcome to occur. For example, you back a certain horse to win a race. If the horse wins, you win!
Lay bets -these bets involve betting against an outcome from occurring. For instance, if you place a bet on a horse losing and the horse loses a race, you win the bet.
With matched betting, you place both back and lay bets on one event to cancel out the risk. So, you would place a back bet at a bookmaker on a horse winning and you would place a lay bet at an exchange (like Betfair) on the horse losing.
Once your first bet at the bookmaker is placed, you’ll then receive a free bet and can make a profit.
You repeat this process at varying online bookmakers and build your profit up!
How to Get Started
Before you make your first bet, its important to ensure you that know what you’re doing. In the next steps, I’ll go through how to get started with matched betting so you can place your first bet with ease.
1.Sign up to Profit Accumulator
I always use Profit Accumulator when I’m betting as it helps you to find the best free bets, the most profitable bets to place, and there’s a handy calculator so you can keep track of how much each bet will make you. The profit tracker will allow you to note down all your earnings so you don’t need any additional spreadsheets or documents.
Profit Accumulator costs £17.99 per month (reduced to £14.99 per month after 12 months membership) which is a small investment when you consider that you’re potentially going to be earning hundreds per month. This cost covers use of their oddsmatcher tool to help find your bets, step by step guides and videos, an online community and 7 day a week customer support.
The offers section is updated daily so you can always discover free bets and promotions. I 100% recommend signing up – you can receive a FREE trial and make up to £45 straight away! If you find its not for you, you can simply cancel.
2. Profit Accumulator will show you exactly how to get started with training videos. Once you sign up, you can start working through the beginner’s section. I definitely suggest watching all the videos before you place your first bet. Take your time to go through each website.
The offers in the beginner section should help you make around £500, but this really depends on how much you want to bet with. Some people start matched betting with a large amount. I only ever deposit the minimum and I’ve still made money.
3. Once you’ve completed the beginner offers, you can start making your way through the advanced section. At this point, some of your money may still be tied up in your betting exchange account. As you complete each offer, you’ll find that your bank begins to build up.
4. So, what happens after the advanced offers? Once you’ve joined several bookmakers and betting sites, you’ll start getting reload offers. These offers differ, depending on the site. For example, some sites offer a free bet for placing a bet during a specific football game.
Are there any other offers I can complete?
Yes, there are also offers with an amount of risk involved. I personally don’t recommend completing these as you could end up losing money. Sticking to risk-free matched betting offers will help you to stay in profit.
How much time do I need to spend on matched betting?
This is completely up to you. I’ve only spent a minimal amount of time on matched betting and made a decent profit. If you’re serious about making cash or have a specific money goal in mind, spend an hour each night placing and matching bets.
What if I need more help?
Profit Accumulator offer dedicated support and a members only forum so if you need assistance, there is always help on hand.