It’s time to find out how another of OddsMonkey’s Premium members has found matched betting success in our ‘Meet the Members’ series.
Meet the members: Jay
What is your average weekly profit? Does this include a partner’s profits?
Hard to say what my average weekly profit is as it depends on what offers are available and how much time I have but I aim for £50 per day. This includes my partner’s accounts too.
Every few days I’ll check by dividing my monthly profit by the date of the current month. If I’m below my target I’ll work a little harder to catch up.
The last few months have been very good with £3,271 in April and £1,485 so far in May.
The weekend profit makes up for less profitable days in the week.
What do you do with your matched betting profits? Any exciting purchases or stories to share?
The best part for me is just having extra income to make sure bills are paid. But it’s nice to treat the family when I’ve had a particularly good month. The most exciting part for me is to be clear of debt. I’d advise anyone with debts to focus on this first. Not only will you be avoiding more costs from interest and charges in the long run, but the positive effect on your well-being is also priceless. Keep in mind it’s important to have a decent amount of money available to make more money faster so try to hold off treating yourself too early.
I think the most fun thing I’m using my profit for is this…
I told my kids I’d give them £300 each if they practised 5 different skills per day. And bought them a diary and they have to record what they do. (Reading, juggling, boxing, ukulele, piano, guitar, exercise etc) 3 months in and they are actually learning stuff and really enjoying their new hobbies. Money talks! What they haven’t realised is that it’s less than £1 a day and I don’t give them pocket money so it’s a bargain for me.
What is your bankroll? How much did you start with?
My current bankroll is about £10k spread between exchanges and bookies. I started with £50 following the OddsMonkey welcome offers but after seeing the profit in a few days, I put another £200 in to speed things up and then any extra cash I had went into it as I took it more seriously
How long have you been matched betting?
I’m almost starting my 5th year since joining OddsMonkey.
How much time do you spend matched betting?
I probably do at least 3 hours per day. More in busy periods. For a horse festival, I’ll set up in the morning and hardly leave the room all day. Saturdays are the busiest but there’s usually something happening every day so I tend to do a lot during the day once the kids are at school.
If I’m working, I’ll be doing stuff in the van before I start my job. Once you get the hang of things, you can do a lot of it on the move.
My attitude towards learning something new is to immerse myself completely. Like an obsession, until things make sense and you can do much more in less time or even multi-task (while cooking etc) without making a mistake. If you treat it like a business and understand that every penny counts, you’ll start making good money. Just be careful not to let it consume you as it’s not worth missing out on time with your kids etc. Give yourself time off where you’re not holding your phone so you’re not tempted to do it 24 hours a day!
What type of offers do you focus on and why?
My main focus is on boosts, bet clubs and 2ups. I also do horse refunds whenever possible. The lean towards each of these depends on whatever is available. During football season I have the OddsMatcher open all day with the filter on ‘2upall’ and take any matches over 1.7 and 96% or higher. I take higher QL (qualifying loss) if it’s a high-profile match just to keep Bet365 sweet. I only do more obscure leagues if I already have a few bets on main leagues (English, Spanish, Italian).
If I see a heavy favourite with 0 or very small QL (ie 1.3/1.31) I’ll take that too. I mostly keep stakes to £50 and £100 or occasionally £200 for a low odds close match.
I only withdraw smallish amounts and only if the balance is getting too high.
Recently I’ve also been doing the football boosts on Bet365. If it’s a score, I underlay and hope for a bore draw.
Tell us more about your background and how you came across matched betting.
I’ve been a professional Magician and Juggler for the past 20 years, so the unusual working hours allow me to get some betting done during most days. I also do a bit when I arrive at gigs early. Another magician I met a while ago introduced me to OddsMonkey and helped me through the welcome offers. Since then I’ve done the same for others and made a little extra through their referral system. You can also make extra by referring banks and cashback sites to new people you introduce.
Can you give us a breakdown % of where your profits come from?
It changes month to month but in April and May I’d estimate percentages as:
- 2ups: 35%
- Boosts: 35%
- Horse refunds, free bets and low-risk casino: 30%
Do you do low-risk casino offers? If so, tell us more about that.
For the first 3 years, I did lots of casino offers and it made up a quarter of my overall profits. Absolutely recommend it and it’s worth the extra subscription for CasinoMonkey especially when there are a lot of welcome offers which are generally high EV (estimated value). This year I only do higher EV offers and avoid high variance slots as I don’t have time to do everything since they stopped the auto spins!
Do you have any advice or tips to offer to other members?
- Never gamble or chase losses. If you can’t help it, this is not for you.
- Accept mistakes as part of the learning process. You’ll make it back if you stick to the rules and keep going
- Ask questions and double-check everything
- Keep learning and diversify. None of it is as hard as it first appears and the more options you have the more money you’ll make.
- Join OddsMonkey. You’ll save time and make more money faster as well as avoiding errors.
- Look after your accounts. Keep bets consistent and don’t always take the top option on OddsMatcher if there’s another option that is from a more mainstream event.
- Pennies add up. Doing this has taught me to be more careful with money outside of matched betting.
- If a boost might not be around long, be aware that if you are on 0% with Smarkets/Matchbook just quickly underlay by backing and laying with the same stake so no need to use a calculator. This way you win if the bet wins but break even if it loses. I personally underlay everything as it saves time and is roughly the same EV over time.
- Be aware of other ways you can save or make money. Bank switches/referrals/cashback sites. Learn to cook and stop buying takeaways (takeout is only nice because of the extra sugar/MSG. Just add it yourself if you need a treat! )
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