Can a complete beginner use OddsMonkey’s matched betting tools to turn £0 into £500? That’s what Caan Berry has challenged newbie, Hannah, to try! In this challenge, Hannah was thrown straight into the deep end and given 30 days to make profit from the OddsMonkey matched betting software and information.
This challenge would mainly involve horse racing matched betting, which gave Hannah something to look forward to, as she both understands and enjoys horse racing already. The side of this challenge that is completely new is the matched betting itself, and this is where the challenge begins. Can Hannah do it? Keep reading to find out!
The Challenge Begins
Hannah clarified before the challenge that she was nervous to get started as she is completely fresh to the concept of matched betting. Caan addresses these concerns, and instils the fact that OddsMonkey provides targeted and detailed tutorials, specifically designed so that anyone can use them and get started.
On Hannah’s first day of the challenge, she looked at all of the sign up offers available on the OddsMonkey site, and was instantly overwhelmed with the plethora of options available. Each offer has its own dedicated video in order to explain how to use it and what the most effective method would be to guarantee maximum profit. Hannah reiterates her exciting and eagerness to get started with placing the matched bets, and everything is set in motion.
Understanding Matched Betting
Before we go any further into the challenge with Hannah, we want to explain matched betting to you in the same way it was explained to her. If you already understand matched betting, you can skip this section and go to the challenge itself. A quick interlude now for a flashback to before the challenge began; matched betting was explained in the simplest terms to Hannah.
Essentially, bookmakers offer a free bonus bet if certain criteria is met in order to qualify for the offer. You can use the huge list of offers from different bookmakers to place a bet on two different sites, pitting these bets against each other on the same outcome – one for the outcome to win, and the other for it to NOT win. Thanks to the fact you covered both outcomes, there is an additional safety net over these bets, and there is no chance of a loss. Either side of your bet will win, and you are then given free bets upon meeting the criteria of the offer.
Things Are Heating Up!
Moving into Day 3 of the 30 Day matched betting challenge, Hannah has seen her first bits of profit rolling in. While the start is slow, the initial profit is a positive sign, and shows that Hannah is coming to grips with the process. Hannah admitted at this early stage that she was occasionally missing parts of the offers because she was overly excited to place her bets with the new bookmaker, and that she would need to change this in order to maximise her profits in the coming days.
Hannah also made the decision to start using casino signup offers too, another section offered by OddsMonkey, and this would further expand her knowledge as well as her profitability. She again mentions the importance of reading the content and watching the videos provided. Caan further instils this point by mentioning that the process is simple enough, and risk-free, as long as it is followed properly.
The Halfway Point Check In
Upon reaching the 15th day, Caan checked in with Hannah to see how she was finding the process. She responded with mainly positive notes, saying that she has expanded her knowledge of the process greatly and was finding it much more free-flowing than when she started 2 weeks before. The main talking point was the confusion that arose after a bet was settled – where exactly was all of the money that had been won from the qualifying bets? This is a reasonable concern, as there are so many different bookmakers that Hannah will have signed up with at this point in the challenge.
Hannah’s Learning Process Update
Hannah addresses one of her personal issues within the process, and this could be something that other people relate with. She refers to herself as a “Doer”, which is quite a common attribute, meaning she and many others are more of a practical learner. For this reason, she found that watching so many videos was becoming a challenge, as she just wanted to get into placing each bet rather than following steps. She found that using the matched betting calculator and other matched betting features were very useful.
Hannah’s Profit Update
At the 15 day halfway point of the challenge, Hannah says she is happy to announce she is currently £120 in profits thanks to the sign up offers she has completed so far. Hannah said that she could have increased her efficiency by choosing bets that would have settled sooner; races or football matches that played same-day rather than later in the week. With some quick maths and guesswork, she concluded that she was spending around 2 and a half hours per day on the actual process, and the rest of the 15-day margin was made up of waiting periods. Of course, the challenge was to make £500, so being less than half of this at the halfway mark could be a call for concern. Will she do it? Keep reading!
A Bump in the Road
On her 17th day, Hannah caught up with the challenge and admitted that she had made a mistake that cost her a chunk of her total profits. The mistake? She got carried away with a casino offer and went off-track from the plan.
Sticking to the plan in matched betting is possibly the most important part – you cannot make profit if you are wasting your profit with extra, unneeded bets. Hannah said she played single deck Blackjack to qualify for her bet, initially placing £10 as the qualifying wager. She managed to make a fair chunk of money from this, but continued after she should have stepped back, and her balance went from £120, to just above £90.
Will she make it back?
The Final Day
At the end point, Hannah said she is pleased with how much her confidence has risen within the process, and that she feels “like an expert”! One pointer that Hannah made sure to get in the conversation was that her organisation of the process had improved – she now uses a spreadsheet to track what deposits she has made, and to which sites. This makes it much easier to visualise where her funds are, and is a great way for anyone to track the process better.
One of the other issues Hannah faced during the process was that she already had accounts for some of the bookmakers. This is another common issue matched bettors will face, especially as newcomers who already gambled before beginning. Due to missing out on some of these sign up offers, some great potential was missed.
So, what was the result? That is the question on everyone’s minds. Well, while Hannah did not make the entire £500, there is some leniency in the result because of her existing betting accounts. This challenge was a tall ask, but if she had gone into it with no betting accounts, she is confident that she could have made £500. Despite not hitting this target, she did still make £315 profit over 30 days – averaging out at just over £10 per day in risk-free profit! With a few more days, and the knowledge she now possesses, Hannah could have smashed the target with ease!
You can start matched betting today using the OddsMonkey Free Trial!