You may have heard that matched betting can earn you a decent second income – and that’s true. Just look at some of our case studies to see what it can do for your lifestyle.
From paying for the deposit on a new house to earning enough to go on the holiday of a lifetime, it’s all possible – if you do it right. Learning a few expert tips on how to make money from matched betting will stand you in good stead.
How much can I expect to earn from matched betting?
How much money you make from matched betting depends on you. In our case studies you’ll see every one of those OddsMonkey members has a different lifestyle, goals, and amount of time available.
It’s fair to say that what works brilliantly for someone else may not work for you. Monthly earnings can vary based on the tools you use and the type and number offers you do, but average monthly earnings of £900+ are consistently reported in our forum. Depending on your lifestyle, it’s entirely possible to make a good living.
Matched betting is completely tax-free, which makes any monthly earnings your take-home pay. This could mean you’ll earn about the same per year as someone with a gross salary of over £20,000!
Can I earn a living from matched betting?
If you want to earn a full-time income from matched betting, you need a big enough bankroll.
This is the money you must spend solely on your betting activities, so it might be that opening a second bank account to keep your matched betting money separate is as good idea. This stops it getting confused with the cash you need for your mortgage or rent, bills and general living expenses.
To earn serious cash, you’ll need a bankroll of at least £4,000 – but don’t worry! You can start doing it part-time with just £100 and build your bankroll up over time. You can realistically expect to turn this £100 into £200-300 within the first month.
If you’re not lucky enough to have the kind of bankroll to start earning big money right away, we’d always advise starting slowly; be patient and you’ll be rewarded. When you’ve built up your betting profit, you’ll then be able to start earning a full-time income like Gavin, one of OddsMonkey’s Premium members.
To start, check out the list of ‘New Account Offers’ we have on the website and work your way through the guides. Most of the ‘Bet £X, Get £X’ offers are rated ‘Easy’, so you’ll be able to increase your bankroll in no time.”
Fortunately, OddsMonkey lists a host of daily offers, via our Daily Offer Calendar, to ensure you’re able to add to your coffers frequently.
It’s all low risk
Remember – there’s low risk involved in matched betting, so that £100 bankroll isn’t money you’re expecting to lose; it’s just there to make the most profit from your bets. Your bankroll also acts as a kind of safety net if the withdrawal process takes longer than expected. It shouldn’t be more than two to five working days for most bookmakers, so make sure you keep a note of all bets made and chase up if you don’t receive your free ones.”
How much time do I need to make serious money from matched betting?
How much time you have very much dictates the amounts you stand to make from matched betting. But the good news is that you don’t need to work 40 hours a week to earn a full-time living. In fact, all it takes is around two or three hours a day.
In another one of our case studies, Ailsa tells us that 40 minutes every day brings in around £500 per month. How much time you have will obviously be dictated by your lifestyle, but we do advise that you have a good schedule in place.
A good ‘full-time’ schedule
It’s fair to say that the more organised you are, the easier it will be to make the money you want to make. To maximise your profits, make sure you know when you’re going to take certain actions.
The morning is the best time to look for new offers. Using OddsMonkey for this is a great way to save time.
The OddsMatcher is particularly useful for finding matched bets at different bookies and exchanges, as well as for working out your profit for each bet.
Horse racing and tennis are two great sports to find matched bets during weekdays. On weekends, the afternoons are all about football.
Again, you’re likely to come across lots of matched bets related to football in the evenings throughout the week. You could also look out for bets (and related free offers) on darts and snooker.
If you’re looking to make a serious income, the weekends are likely to be your busiest time.
This is when you’ll find the most welcome bets, email reload offers and loyalty bonuses, purely because most sporting events occur over those two days. You should probably expect to make at least half your weekly earnings from matched betting over these two days.
For this reason, you should plan for your Saturday and Sunday mornings. Figure out which football promotions you want to bet on and which horse races are the best for getting refunds.
The weekends are so busy that it can all become a bit hectic, so getting ready early will make it easier later in the day. And the more organised you are, the more efficient your matched betting efforts will be and the more money you’ll make.
Keep your accounts open with mug betting
One of the biggest challenges to your ability to make a serious regular income from matched betting is the bookmakers. They make their money from punters losing bets and serial winners, like matched bettors, can make them nervous. Many people in the matched betting community believe the practice can lead to their accounts getting shut down or restricted in some way.
Mug betting is a way of making yourself seem like a ‘real punter’ who has no clue how to make money matched betting. The easiest way to do this is to place small bets on events without offers. You can still place lay bets to ‘cancel out’ your losses, but it makes it seem like you’re a normal punter and not an opportunist seeking to exploit the system.
As we say in our guide on what a mug bet is, there are those among us who believe bookmakers penalise regular matched bettors and there are those who think it doesn’t happen. But there’s no way of knowing either way as betting sites never disclose the reasons for shutting someone’s account. But with your future finances at stake, it makes sense to do everything you can to avoid this happening.