How to make money online by matched betting? As I have said in one of my previous posts, I was not a fan of online betting because I thought that it was impossible to make money from it.
However, my mind changed when I came across a betting system called Profit Maximiser. The system is actually genius as it gives you step-by-step instructions on what to do, and you don’t even need to do some heavy lifting because it will find the best bets for you. I was just so stunned by it.
But this post is not dedicated to that particular betting system. Here, we will talk about how to make money online by matched betting.
We will discuss what matched betting is, the basic terms that you need to remember, and some frequently asked questions that I am sure you are itching to know the answers to. Let’s start so that you will know if matched betting is for you. Are you ready?
Table of Contents
What Is Matched Betting?
Betting companies offer free bets that guarantee profits to lure new customers to place bets with their company. A sample offer can go like this: “bet £10 and get £30 free bet”.
When you take advantage of this offer and place two bets on different potential outcomes, that is matched betting. The result of the bet is no longer significant plus you are guaranteed with a win using this technique.
Below are the important types of bets that will help you learn how to make money online by matched betting:
- Back bet – this is when you bet on a particular outcome to come true. For example: “I bet Team A will win”. If Team A wins, you win the bet and the profit. But if they lose, you lose your wager too. Bookmakers such as Paddy Power, and William Hill accept back bets.
- Lay bet – “I bet Team A will NOT win”. This is a lay bet. You win the bet if Team A loses or draws. Betting exchange such as Betfair accepts lay bet.
Matched betting offsets the risk of your back bet at the bookmakers by laying a bet at betting exchanges. Simply put, you are just matching your bet.
The bookmakers will award you with a free bet after your first qualifying bet. You will make a profit here by using the free bet to make a back bet then laying the bet. Regardless of the result, you will gain profit from this.
Easy, right? Actually, no. There is math involved. Computations can be complicated and you can go terribly wrong. For this reason, people use betting systems such as Profit Maximiser
to help them stay on the right track.
This kind of system finds and flags the best bests for you. This is all you will ever need to make money online by matched betting.
How Much Will I Make from Matched Betting?
You will profit as much as 95% of the amount of the free bet. Where did the other 5% go? This serves as a commission for the betting exchanges.
You will also lose a little amount on your qualifying bet because of small deviations on odds per website. Don’t worry about this as it is totally normal. Anyway, you will recover from this small loss upon using your free bet.
You also need to know that gambling earnings are tax-free as of date. Plus, your credit rating will not be affected if you deposit on gambling websites. So double “yeah” for everyone, right?
What Am I Risking?
You are betting for and against the same team or event so there is little to no risk involved. Having said this, it is safe to say that anyone can do matched betting. You can learn this if you really want to.
However, you might make mistakes every now and then. This is where the risks come in. You will need to double or triple check everything to make sure that you are doing things right or choosing the best bets.
Additionally, you will need to be extra patient as free bets don’t come through immediately at times.
You can carry on with your matched betting using various bookmakers if you fully understand the process and taste your first success.
If you want to try the easy route and learn how to make money online by matched betting, you can always try Profit Maximiser.
Is It Illegal?
Matched betting is legal in the UK and some other countries. Before you decide to try matched betting, you should check if it’s legal in your country.
You need to be 18 years old or older to do matched betting. You are not scamming anyone with this activity. It might seem too good to be true, but don’t run away from it because, again, it is LEGAL.
Bookmakers in particular don’t like matched betting. Why? They won’t get rich with this betting technique. They might limit your account (if they find out that you are matched betting) by excluding you from promos or free bets as punishment.
How Do I Get Started?
You will need a computer with a stable internet connection. This is vital because you will have to switch tabs and windows rapidly every now and then. The odds quickly change so it is important to have a reliable internet connection.
We advise you to create a different email address that will only be used for matched betting alone. Doing so can help you organize and find all the offers sent your way. The offers will be easier to find this way.
There are various free email services you can choose from so we won’t have a problem here. Sync the email account to your phone so no offer ever gets past you.
If you have a bigger budget, you can opt for a smart phone and netbook combo, or even multi-screen setup so you don’t need to change tabs and windows. This all depends on your budget and experience.
How Much Do I Need to Get Started?
Prepare at least £50 to get started. But it’s better if you have more to spare because the more you have, the more you earn.
Having more money means that you can instantly wager without having to wait for your earnings to come in from your bookmaker, and betting exchange accounts.
How Do I Get Offers?
Bookmakers have welcome offers when you start using their service. They are usually generous to new customers because they want you to be loyal to them.
If you have exhausted all the welcome offers in every betting site, then it’s about time you get another source. I’m talking about Profit Maximiser here, by the way.
Is a Separate Bank Account Necessary?
Yes. This way, it is easier for you to track money that is coming in and out of the account. Plus, money intended for your basic and everyday needs won’t be “touched”.
In addition to that, withdrawal time varies from bookmaker to bookmaker and there will be delays. At times, you will not have your money on your expected date. It is best if you don’t rely heavily on this bank account.
Will This Affect My Mortgage Application?
Chances are your betting activities will appear on your bank statements. Therefore, it is best that you make a separate bank account for matched betting.
You need to take note though that financial gain from matched betting cannot be used as monthly income when applying for your mortgage. You cannot use matched betting to establish that you can pay for your mortgage payments.
Will This Affect My Credit Score?
No. You can sign up for as many accounts as you want because this will not appear on your credit reference. Lenders will not see this either, so you don’t have to worry.
The betting sites may (or may not) search of your credit report just to validate if the information you gave out is true and correct. They will not really check your credit because you are not appealing for credit anyway.
Did this overview clarify and answer all your questions about matched betting? I hope that by now you already know how to make money online by matched betting. If all else fails, you can always try Profit Maximiser
to save the day.