Earn More Money: Matched Betting

After I released the blog 3 Ways to Make More Money on the Side, I had a lot of feedback and messages regarding Matched Betting, and how you make more money through matched betting. 

To recap, matched betting is an easy way to make risk free money, from the free promotions offered by the betting companies, such a Ladbrooks, William Hill, Paddy Power etc. These companies offer a lot of free promotions, which you use to bet both ways on an outcome (i.e a horse race, football match, rugby etc).

This form of income results in tax free earnings; no self assessment forms are required, and no tax needs to paid; you take the guaranteed profit, and it goes into your bank account. You can make ALOT of money quickly and easily matched betting. 

Another typical question I have received is, is this legal? Absolutely! This topic is discussed on a multitude of money making forums out there on how to make more money. Please note that I do not promote anything illegal through this blog. 

Lets Start

There are a lot of tutorials and sites out there offering fantastic video's and super in depth analysis of why matched betting works. These video's will also take you through the specific steps you should take to win your first profit; they will then walk you through all the promotions out there, and if you sign up to their service they will send you daily offers provided by the gambling companies, and explicit instructions on how to make more money out of these.  

My favourite is MatchedBets.com; if you sign up here they will provide you with a guided step by step tutorial of how to make a £50 profit on your first attempt at matched betting. 

There are a couple of other sites out there including OddsMonkey (who I mentioned last time), and Profit Accumulator

Matched Betting when done consistently is a super lucrative way to earn more money on top of your salary; in the face of increasing inflation and stagnant wage increases, it's great to have a top up to your salary on a monthly basis. 

I Don't Believe You

I had a couple of doubters on the Matched Betting front...so I found an individual who has made enough money from Matched Betting that the day I met him for the interview he was just back from Southampton where he was looking at Catamarans to buy and sail round the world for the next 3 years. 

Here is Fraser Parker's story:  

1) Why and how did you get into matched betting?

At university I was trying to make extra money; one evening I had nothing to do, and I logged onto a bingo site that was offering a £5 introductory game to try out the platform. I made £40 which I assumed I wouldn't be able to withdraw from the site, but I could, and three days later it was in my account. 

I started doing some research and found a couple of forums on matched betting; there was a whole community out there making money from matched betting. I got involved from there; I did it as a hobby and carried on. 

I moved permanently to London 5 years ago, and I started doing matched betting full time. During the full time I've been matched betting I've stopped intermittently; the first time was to try and build a recording studio and the second time was to try and build a catering company.  I stopped two week ago now to buy the catamaran and sail round the world for the next couple of years.  

2) What were the first online sites that you used?

There are a lot of sites out there. I initially started by going into the gambling bookies for some of the deals; William Hill, Ladbrooks etc. 

The online gambling world is huge now, and in the UK it's very lenient; Labour deregulated the gambling regulations in 2005, which resulted in the UK being being one of the most relaxed places in the world to gamble and make money.  

Websites like Profit Maximiser and Odds Monkey were the first in their field to provide tutorials and videos, tutorials and offers to people to make money. 

(Wee Scot Speaking: I also use MatchedBets.com to get me started; it's a subscription based service which gives you deals etc; they give you three free trial bets where I could earn up to £50. Sign up here to try it out)

3) Did you have any mentors that helped?

I had no mentors, and non of my friends participated in matched betting. I followed a couple of online people. On Money Saving Forum, I followed someone called Dongle Mouse who wrote daily diaries of his matched betting successes; he no longer writes on the forum. 

Additionally there was a site called Beating Bonuses which provided the matched betting options available on casino websites; casino bonuses tend to be a lot more lucrative. 

4) Were any of your friends earning money in this way?

None were, no. It's quite a lonely experience matched betting as a career; you sit on your own looking for the deals and bonuses to place. I now have a small community of people that I teach how to matched bet; they come over to my house, and we sit and do matched betting together. That has provided more of the social element. 

5) How have you grown your matched betting business personally?

Last year I moved away from working on my laptop in cafes. Now I work in a more structured way with casinos; I need to track what I'm doing a lot more now as casinos games are more sophisticated. I bought a computer, and had an actual office for it. I've also taught people to match bet so we sit together; it create a work and social environment. 

6) What sites do you use, and why?

I started off with the sites mentioned above; they're low risk, guaranteed profit sites. I now use a lot more of the casino offers which are higher risk sites. 

7) Are there downsides to Matched Betting?

Yeah; it's boring and soul destroying when done over a sustained period of time as a full time job. It's like work where you don't have any productive value; there is no satisfaction other than your bank balance increasing. You're at risk of becoming quite isolated which is why I started to work in the company of others for the social aspect. 

It does take a little while to learn as well; it's a new skill you are learning. 

8) Do you perceive any issues with this form of earning money, going forward?

Not really other than the social isolation factor; I don't perceive any legislation coming into place around it. It's currently tax non declarable, and due to the gambling legislations, I don't perceive that changing any time soon. 

People think that earning money in this form is super exciting, but there is boring grind and repetition associated with it, and associated with earning money. You can earn a lot of money from it but it's hard to scale individually. 

9) What's next?

I quit matched betting two weeks ago and I'm buying a catamaran, either from Croatia, Italy or Southampton. I'm going sailing round the world for a couple of years with three to four other people; they're quitting their jobs and joining me. Dependent on when we start, we'll spend some time in the Mediterranean and then head out to the Caribbean. I've been sailing since I was a child but I've been having a couple of lessons in the last two weeks so that we are ready to go. 

Summary

Matched betting is a fantastic way to make more money, tax free. If you start with the in depth tutorials and guided videos you can build out a lucrative side business to earn more money. So lets get started with MatchedBets.com and earn your first profit, here

As mentioned, matched betting isn't for everyone; other ways I've highlighted to make money include blogging, which I covered in my post Earn Money from Blogging.

Beautiful photos by unsplash.com from @derek.thompson

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