If you are wondering what matched betting is, but are not one who likes to take risks in life, then this article could be of interest to you. This is especially if you are need some extra income. We take a good look at how to make money from matched betting.
How To Make Money From Matched Betting – What Is It?
Essentially, matched betting is making money by gambling on bookmakers’ sites, but without the risk normally associated with gambling. Sound too good to be true? Well, it isn’t, though there are obviously rules and caveats to us all making our fortunes!
How It Works
The key to matched betting is not to go into a bookmakers and make a normal bet. No, the key is to use the offers that they offer to make your profit. This starts with their welcome offers to attract new customers, then the offers they will offer periodically to existing customers. By betting on offers alone, you are not putting yourself at risk as much as by traditional gambling.
How To Make Money From Matched Betting – The Mechanics
The way it works, in the simplest terms is as follows. Let’s use an example of a bookmakers site offering a free £10 bet to anyone who joins their site, and places a £10 bet first. The key is to release that free £10 bet without losing money. So you simply place a £10 bet on whatever you choose, but you also “lay” it off, which means you act as the bookmaker too, offering the same bet to someone else. By doing so, whether the bet loses or wins is irrelevant, as you will win one bet and lose one, and thus be back at zero. However, you will now have a free bet to use, and that is where your profit lies. By laying it off again, you should be able to extract £8 profit for every £10 free bet. Repeat and rinse!
How Much Can You Make?
After being made redundant, I relied on such earnings for over a year. Winnings from gambling do not count as earnings either as far as HMRC are concerned, so they are not taxed. At least not in the UK! I earned over £10,000 per year, for as little as 15 hours work per week. And it did not really feel like work to be honest.
How To Make Money From Matched Betting – Don’t Attempt This Alone
There are sites that can help you make a lot of money, for a modest fee. I used profitaccumulator.co.uk for just £18 a month. You will make that back within 20 minutes. It is well worth doing as they provide the software to tell you all the offers and scour sites to find the best odds. It saves you time and money. They have a separate site for casino offers if you so desire, but they tend to come with more risk. These sites come with full video tutorials that run you through what to do from scratch.
Need To Know Information Before You Begin
You will need a modest bankroll to begin, though it depends on what pace you wish to go at. If you go slowly, you won’t need much. Most of the bankroll is needed for the “lay”. For example, if you need to lay £10 on a 10-1 horse, you need £100 in your account in case it wins. Though of course you would win £100 by backing it at the same odds elsewhere. Finally, be aware that you may use full use of the accounts you set up. Bookies are of course well aware of matched betting, and may restrict accounts if they feel a customer is betting abnormally. You may wish to do a few normal bets too to make you look like a normal punter.
