If you live in the UK and you are not using Matched Betting to make extra money each month – you’re really missing out! In a previous post, I shared my first experience of Matched Betting where I made more than £350 (TAX FREE!) profit in less than 2 weeks.
If you need extra income to save for a holiday, or want some extra funds to start your own business, this is a realistic way of earning £150-£400 per month, tax free, working just an hour a day or less. If you want to make more money, you have to put in some serious hours to do it, but this is a fantastic way to earn money online in your spare time.
So I thought it would be a good idea to share my top 10 Matched Betting Tips for ensuring that you have a positive experience during your first month of Matched Betting, make a good profit and most importantly avoid the hidden pitfalls!
Disclaimer: This post contains affiliate links which means that if you sign up with Profit Squirrel or PA, I may earn a small commission, at no extra cost to you. I only recommend products or techniques that I have tried and tested, and that WORK! Read full affiliate disclosure here.
Tip 1 – Research Research Research.
Before you even start placing bets with real money, you need to research how Matched Betting works, how you make your qualifying bets and how you make a profit.
This is vital if you want to make a good profit in the early stages. I spent at least 3 or 4 days reading HOW to Matched Bet and watching training videos about it, before I even attempted my first sign up offer.
If you sign up to one of the subscription services they will not only have a few training videos to show you how it all works, but they will allow you to do a couple of sign up offers before you subscribe.
Profit Accumulator does this and you should be able to make approx £30-40 from your 2 free bets. So you will more than cover your 1st month’s subscription fee profit before you have to pay out any subscription charges.
If you decide Matched Betting isn’t for you, just cancel your subscription before the first payment is due – it’s that simple
You can also look on YouTube to find normal people doing Matched Betting, but I found that they were not as clear (or concise!) as the professional videos.
I’ve seen too many people in the forums that clearly haven’t done their research about Matched Betting because they are LOSING money. It’s quite complicated for beginners and you should really do your research before you even attempt your first bet.
Tip 2 – Don’t Do it alone
I have noticed on various forums that some people are reluctant to join a subscription service for Matched Betting (such as Profit Squirrel, Profit Accumulator or even the new Save the Student one).
This is a big mistake and the fastest way to lose money when Matched Betting.
If you are an inexperienced gambler like me, Matched Betting is complicated. Not only does it take a while to get your head around the concept of how it works, it takes even longer to find the events that are most suited to making a profit – a subscription service does all this for you and will save you HOURS a day.
During my 2nd month of Matched Betting I was contacted by a young man on Facebook that asked me to help him. He’d seen my post on a Facebook group about Matched Betting and wanted my help as he was losing money, and lots of it. I asked him if he was gambling or Matched Betting and he said that he wasn’t gambling, so I couldn’t figure out how he was losing money. But it turned out to be quite simple – he was doing it on his own and didn’t want to sign up for a subscription service. He lost hundreds of pounds because he wanted to avoid a subscription fee of £18 a month! Once I got him signed up to Profit Accumulator he started making money straight away.
There are a few good Matched Betting forums/websites that are free and yes, they will tell you where the offers are, but they don’t tell you which events to bet on to make the best profit and that’s what takes the most amount of time. If you are aiming to do 3 – 5 sign up offers a day, this would mean hours of work.
So for a few quid a month, it’s an absolute no-brainer. You will make more than a month’s subscription back within one day!
If you want to make money and avoid losing all of your profits with one silly mistake, sign up to one of the main Matched Betting companies (Profit Squirrel or Profit Accumulator).
Tip 3 – New Bank
Before you start, open a new bank account that you will use solely for Matched Betting. It gets difficult to track all of the money going in and out of your account, so if you have a new account that is only used for MB, you will be able to keep track of your profits easier.
Tip 4 – Get your ID ready
A couple of times I was stopped in my tracks by the bookies as they wanted to ID me. Firstly to make sure that my name matched my bank card (so that I wasn’t opening a duplicate account or betting on behalf of somebody else, which is a strict No-No in terms of betting) but also to ensure that I’m definitely over 18. Unfortunately for me my 18th birthday was many moons ago, but I still needed to prove it to them.
I just scanned a copy of my latest utility bill and my photo driving licence and had it ready on my email to forward to any bookies that asked for it. Within 12-24 hours my account was ready to place a bet. Make sure that if your bet is frozen (or you payout is frozen) that you contact them quickly to check why. It is most likely because they want to ID you first.
Tip 5 – New Email Account.
I have an email account that matches my username for most things I sign up for. But this isn’t ideal for Matched Betting. I strongly suggest that you think of another email + username for your MB exploits. I have an email address that I only use for Matched Betting, when I am too busy to Matched Bet I ignore my emails and I know that I won’t miss anything that is important.
As the email will be new, you will be able to spot all of the emails from the bookies. Some of them will
spam email you a lot, this is GOOD thing for matched betting because when they are emailing you, they are usually emailing you with reload offers (more free bets is more profit!).
Tip 6 – Avoid Distractions
Did I mention that Matched Betting was complicated? I am not kidding. This is no time for showing off your multitasking skills.
Mistakes happen when you are distracted.
I know this is difficult for some people. I have busy household with a partner, 2 children and a dog all desperate for my attention, especially when I am busy, so there is rarely peace and quiet in our house! As soon as I need to concentrate you can guarantee that somebody will suddenly ‘need’ me.
But if you want to avoid losses, you need to be strong and tell your family (or flatmates) that you are working and cannot be distracted. Find a quiet place to work. You’ll need somewhere that is free from distractions, but still has access to WiFi and a flat surface (for note taking).
Tip 7 – Smartphones Are Dumb
There are times when you are trying to match a bet that you will have 5 or 6 different tabs open.
Your fancy smartphone may have the capabilities of a supercomputer, but it is not suitable for Matched Betting for one simple reason – the screen is too small and some of the websites you will be using are quite wide with lots of columns of information, ALL of which are important and you don’t want to miss anything in any of these columns.
I tried to do it using my tablet once as I couldn’t get into my office to use my laptop. It was doable on a 9” tablet, but not as easy as using a laptop and unless you have no other choice, I honestly wouldn’t recommend it. Save yourself the stress!
Tip 8 – Be Realistic
I started out thinking that Matched Betting would be my key to giving up work and replacing the income from my job. It’s tax free and (relatively) easy to do, I mean…what’s not to love?
Turns out I was wrong. Although the initial sign up offers are fruitful and easy to do, doing this long term takes serious dedication and if you are doing this to make £500+ per month, you can’t withdraw your money because you’ll need a big float to do the big offers.
There are still people that do this for a living, although they are much rarer these days, but the vast majority of people do it as a way to earn a bit of extra cash on the side. Many of them, like me, do it to raise cash for a specific event such as a holiday.
So think about the figure that you want to earn this month, set a goal, and go for it. Worry about what happens after that once you have done all of the initial sign up offers.
Tip 9 – Learn From Your Mistakes
I made mistakes. Even though I was super careful, avoided being distracted as much as possible and read up on how to do it before I even started. I still made mistakes.
Some of them were totally my fault, a couple of them were not my fault, but they still resulted in lost profits. Because I was focused and I had researched (a lot!) I was able to get myself out of a couple of tricky situations without too much trouble and avoided a more serious loss.
Those mistakes helped me as I went through the other offers. I was more careful about changing odds, making sure to place my back bet before laying the bet.
After a particularly scary moment when a sneaky Ladbrokes glitch meant that I suddenly had two x £50 bets rather than one, I also made sure that I was careful to withdraw my winnings from the bookies, before I placed my free bets to avoid the bookies using MY money and not my free bet.
A word of warning about Casinos: I learned the hard way that even when Bookies tell you that you have ‘free spins’ some of them will use YOUR money in the casino, rather than the free spins they offered. So if you have money in your account, avoid the casino or bingo free offers! It will drain your profits faster than the blink of an eye.
Tip 10 – Enjoy Not Gambling
I am not a gambler. I hate the thought of my money being wasted, even if I am really sure that my favourite football team will win, I wouldn’t bet on it. I don’t even have a flutter on the Grand National. In fact, I would go as far as saying that I am completely risk averse and the least ‘gambly’ person that I know.
The beauty for me is that Matched Betting wins no matter what the result. If you are doing it right it will not matter if the back bet wins, loses or draws – you will always make a profit.
But a word of caution. Know your limits. If you like a gamble, you could be tempted to have a punt on a football game that you think is a ‘dead cert’ and THIS will be your downfall. This is what the bookies want, and it’s why they offer free bets – they want you to be tempted in and to place your winnings on another bet, and then another.
Don’t fall for it. The only way that you will ever beat the bookies longterm is by matched betting, not gambling. If you do get sucked into to gambling rather than matched betting, you will lose all of your hard earned profits.