Everyone has an opinion on matched betting. For some, it’s the greatest thing they’ve ever done. For others, it’s something to be avoided at all costs. Therefore, we think it’s important to look at both sides so that you can make up your own mind about matched betting! In this post, we’ll look at the main pros and cons of matched betting.<\/p>\n
One of the most obvious pros of matched betting is that it\u2019s a great way to make money online. Whether you have a specific purchase or event in mind, want a little extra in your pocket each month, or want to increase your savings, matched betting can help!<\/p>\n
Check out these OddsMonkey Premium member stories<\/a> to see some of the fantastic things matched betting has allowed people to do.<\/p>\n Even though matched betting is not gambling, the winnings are categorised in the same way. This means that they are tax-free and you don\u2019t need to declare your earnings to HMRC. Betting duty on bookmakers in the UK was scrapped in 2002.<\/p>\n Matched betting is risk-free when compared to the risks associated with traditional betting, or gambling. This is because it is done using mathematical calculations rather than relying on luck and hoping your bet wins.<\/p>\n However, there is another side to this point, which means it also appears on the cons list. We\u2019ll look at why this is, later on in the post.<\/p>\n One of the best things about matched betting is how flexible it is. It fits around any schedule<\/a> meaning that you can make money whenever it suits you. You can dedicate as much or as little time to matched betting as you want. And if you need to take a break for any reason, that\u2019s completely possible, too!<\/p>\n You don\u2019t need to have any prior knowledge or experience in placing bets. This is great, as it means that anyone can do matched betting! Well, as long as you\u2019re aged 18 or over in the UK. OddsMonkey\u2019s Free Trial<\/a> shows you exactly how matched betting works<\/a> through step-by-step written and video guides. We teach you all the betting basics and terminology you need to know. All you need to do is take your time and learn the process.<\/p>\n Once you\u2019ve learnt how matched betting works and you\u2019re familiar with the different types of offers, it\u2019s a relatively low-effort way to make money online. Obviously, it requires some level of effort, but the idea is that matched betting is something you can do as and when you have time. The more familiar you become with matched betting, the easier it is to do. At least in terms of the different methods becoming second nature.<\/p>\n Theoretically, there\u2019s no limit to the amount of money you can make with matched betting. With daily offers and advanced techniques, the earning possibilities are seemingly endless\u2026<\/p>\n However, there may be some instances where you find that you can\u2019t make as much money as you once did. We\u2019ll look at one of these reasons in the cons of matched betting section.<\/p>\n This leads us to the other side of the coin in our post on the pros and cons of matched betting.<\/p>\n One of the biggest reasons people are reluctant to start matched betting is that it sounds complicated. And if you have absolutely no prior experience with bookmakers, odds, or betting, it can seem a bit overwhelming.<\/p>\n But isn\u2019t that the case with most things you\u2019ve never done before? You can\u2019t expect to be an expert at anything the first time you do it. Take your time, read or watch the guides (available to all OddsMonkey members), and get familiar with the matched betting process.<\/p>\n If you\u2019ve got any questions about any aspect of matched betting, just ask! Our Facebook group is a great place to get answers and advice.<\/p>\n Matched betting relies on you having open, active accounts with numerous bookmakers. That way, you can jump on as many reload offers as you\u2019re eligible to do. Whenever they come up.<\/p>\n However, some matched bettors do find their bookie accounts restricted. This usually means that they can no longer take part in promotional offers. And sometimes, they may even find themselves stake-restricted, which means that they won\u2019t be able to place bets over a certain amount of money.<\/p>\n Unfortunately, there\u2019s no proven way to guard your accounts against being restricted. And the bookmaker\u2019s decision is usually final. Therefore, matched betting isn\u2019t always a long-term option for earning money. But it\u2019s definitely a great way to make money whilst your accounts are active.<\/p>\n For as long as matched betting has been around, there\u2019s also been someone lamenting \u2018the good old days\u2019 or \u2018the golden age\u2019 of matched betting. You\u2019re bound to see comments about how there aren\u2019t as many bookmaker offers as there used to be. Or that those that are around aren\u2019t as lucrative as they once were.<\/p>\n Who\u2019s to say for sure? The sooner you start matched betting, the sooner you can start earning! Our Community Forum and Facebook group are full of offers, matched betting techniques, and members\u2019 profits and success stories. There is definitely money to be made from matched betting.<\/p>\n Whilst you can start matched betting with pretty much any amount, you do need to give yourself a fair starting pot. And whilst you’re building your bankroll, it does make sense to put all of your profits back into matched betting, rather than spending them. Of course, it\u2019s completely up to you, but it will allow you to do more and bigger offers, more quickly.<\/p>\n Therefore, you may feel as though your funds are tied up in matched betting, and you\u2019re constantly moving money between bookie and exchange accounts. It could help to set yourself a goal amount at which you can start to withdraw money.<\/p>\n Unfortunately, matched betting isn\u2019t 100% risk-free. The methodology of turning free bets into real profit by covering all potential outcomes of a sports event does work. However, the Advertising Standards Agency (ASA) found that although the process of matched betting is theoretically sound, there is room for human error. Which can be costly.<\/p>\n This is why it\u2019s so important to take your time and follow instructions carefully. Especially when you\u2019re first getting started. All OddsMonkey members have access to in-depth written guides and video tutorials. Both our free trial<\/a> and Premium memberships will walk you through the best and most profitable bookmaker free bet offers. If you\u2019ve got any questions at any time, swing by our Facebook group<\/a> or Community Forum<\/a>.<\/p>\n Matched betting isn\u2019t about getting rich quickly. Mainly, because it isn\u2019t traditional gambling. You\u2019re not hanging all your hope on one horse (or team\/player, etc). And you aren\u2019t chasing The Big Win.<\/p>\n Instead, matched betting is a great way to build your bank over time. The monetary amounts may be smaller, but they\u2019re consistent and profits can definitely add up over weeks, months, and even longer.<\/p>\n \u201cMatched betting 20 months – just over \u00a35k in total. I treat it as an addition to my pension, this has always been the plan from day one, to treat it as a pension. It’s a great hobby.\u201d<\/p><\/blockquote>\nTax-free earnings<\/h4>\n
It’s risk-free<\/h4>\n
Flexibility<\/h4>\n
No experience necessary<\/h4>\n
Relatively low effort<\/h4>\n
Unrestricted potential earnings<\/h4>\n
Cons of matched betting<\/h3>\n
Difficult to understand<\/h4>\n
Limited shelf life<\/h4>\n
Not as many offers as there used to be<\/h4>\n
Funds are tied up<\/h4>\n
Not 100% risk-free<\/h4>\n
Not a get-rich-quick scheme<\/h4>\n