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Do you want to make some extra money each week? Well, duh, of course you do! What a coincidence, because I have written a basic guide to Matched Betting, and how it can make you several hundred pounds a month.
So, Tell Me,What Is Matched Betting?
Matched Betting was something that I first heard about at the beginning of 2016. It sounded like a fantastic way to make some extra money, but I was extremely hesitant to give it a try initially. However, with Christmas coming up and four children, I decided that I would give it a go, and I honestly haven’t looked back since.
Matched Betting is a totally legal and risk-free method of betting, using free bet offers from bookies (e.g. Bet £50, get a £50 free bet)
How Does It Work?
Very briefly, the idea behind Matched Betting is that you take advantage of free bets that bookies regularly offer. There are usually two stages to each bet. Firstly, you would place a qualifying bet with the bookie, then, when that meets the criteria, (minimum bet, minimum odds etc) the bookie will give a free bet.
In order to make money from it, you must be sure to ‘match’ the bets on an exchange site (like Betfair). So, for example, you would bet on Liverpool to win on the bookie site, and bet against them winning on a betting exchange. You will then make a profit from this process.
Matched Betting is legal, and all money made is tax free. Bonus!
Quick, Give Me An Example!
Let’s take Ladbrokes as an example. They will give all new customers a deposit match up to £50. So, we deposit £50 and then hop over to Profit Accumulator to check out current odds, and to use their calculator. We need to find a bet that has close odds on Ladbrokes and the exchange. The minimum odds for this particular offer (at the time of writing this) is 1.5.
So we use the Oddsmatching software on PA to find a close match (you can totally do this without the PA subscription, but it will take a lot longer). With odds of 1.65 on Ladbrokes, and 1.67 on the exchange, we would make a loss of £1.62 on the qualifying bet. Not to worry though, because we will make a profit on the free bet!
We then place the bet on Ladbrokes, and the opposite bet on the exchange site and wait for it to settle. Ladbrokes will then credit you with a £50 free bet. This time we want odds that are a bit higher to make a good profit. Let’s say 5 and 5.1. With these odds, the free bet will make £37.62. Minus the qualifying loss, this makes £36 profit, for about 5 minutes work.
But How Much Can I Make?
So far I have averaged about £100 per week, and could be doing more. Spending a couple of hours a day can make you twice this, and taking advantage of the slightly riskier offers (e.g. casino bonuses) can earn you even more. The most I have made from one offer? £185. That was a good day!
I Want In – What’s Next?!
As I have mentioned, I use Profit Accumulator to find the offers and for their very handy calculator. There is nothing to stop you going it alone (although I wouldn’t recommend it, and certainly not as a beginner), and of course there are other similar websites that you could use instead. Entirely your choice, but if you decide to use Profit Accumulator, maybe you can use my link, and I will make a small amount from it (at no extra cost to you!) Also, I’ll totally love you forever.
Are There Any Risks?
No. As long as you check the Terms and Conditions of each offer (this is a quick process once you know what you’re looking for, don’t worry) and follow the instructions on PA carefully. I have made a couple of silly mistakes, and have made small losses. Fortunately, nothing major, but still very frustrating when it happens.
Of course there are some offers that are risky, but you don’t have to do this if you don’t want to. You can pick and choose which offers you take advantage of, that’s the beauty of Matched Betting.
So, there we have it, my very basic guide to to Matched Betting.
And don’t forget, if you have a Quidco account you can get cash back every time you open a new account with a bookie or casino. I stupidly didn’t do this, and have missed out on more than £100. (*cries quietly*). If you use my link to open a Quidco account, you can get £10 (and I will make a little money too – it’s win win).
As always, thanks for reading and I hope I will help at least one of you make some extra pennies in 2017.
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