This post was contributed by Jodie from Matched Betting Mum
Last time I was here I was offering some money making tips to help boost your holiday spending. In that article, I mentioned that one of the best ways was to do matched betting. I’m really grateful to Baby & Children’s Markets for having me back to provide a little more information about what matched betting is.
Matched betting doesn’t involve you betting or gambling in the traditional sense. Instead, it’s completely risk free. By following a set process, you place bets which cancel each other out. Therefore, instead of losing money, you simply get your money back. By using the free bets given to you by bookmakers, you end up being able to keep this money.
With more than £2000 worth of bonuses available for new customers, matched betting is a risk-free way to make a lot of money simply from opening accounts with different bookmakers.
The fact that matched betting had been tried tested out by journalists in national newspapers convinced me to give it a go:
“With bookmakers offering ‘free bets’ to tempt new customers, you can play the system and pocket hundreds of pounds – with little risk to your own cash” (The Guardian, June 2010)
How does matched betting work?
Matched betting is very simple. My guide to matched betting breaks down all of the steps for you in lots of detail. But here’s a summary of how it works:
- Open an account with an online bookmaker offering a free bet for new customers.
- Join a betting exchange. These are websites which allow you to bet against the outcome of a particular game or match.
- Place a qualifying bet. Instead of choosing a random bet, you place two bets both for and against the same outcome. This means backing a bet with a bookmaker and also laying against that outcome with the betting exchange. This means that when the match is finished, you will get your money back.
- You will then be given a free bet from the bookmaker. Repeat the same process, placing two bets both for and against the same outcome. Once again, you’ll get your money back. But as you have used free money given to you by the bookmaker you actually make the value of the free bet so will be in profit.
As you always back and lay against the same outcome you will always get your money back. This means it is a risk free way of making extra money. And, as a bonus, anything you make is also tax free.
How much money can I make?
By following this method, you can always make at least 70% of the value of the free bets offered by bookmakers.
With more than 50 bookmakers in the UK offering bonuses worth over £2000, there’s at least £1500 to be made simply by signing up.
Matched betting can also be an ongoing source of income for many people. With the competition between different bookmakers quite strong, they also give out lots of ongoing offers. Since starting matched betting a year ago, I’ve made more than £7500. If you can spare two hours per day, most people tend to make £500-£1000 per month.
I keep a matched betting diary showing how much I’ve made, the types of offers I’ve completed and how much time I’ve been able to spare.
How do I get started?
If you’re anything like me, the whole matched betting world can seem very daunting and intimidating. Before I started, my experience of bookmakers was also very limited. I didn’t really understand how the odds worked or how to place a bet.
So I use a matched betting service to help me do matched betting instead. There are lots of different companies to choose from but I chose to join the largest company with more than 20,000 members, Profit Accumulator. They spoon feed me all of the information I need to do matched betting. This includes telling me what offers are available, helping me find suitable bets, making the calculations for me and showing me how to place bets. There’s a full Profit Accumulator review on my blog.
They offer a free trial where you can access their training and tools for two offers. This is a great way to see whether matched betting might be for you, whilst also making £35-£40.
If you do decide to take the plunge and give it a go then check out my website for help and advice. There are some top tips for getting started, frequently asked questions and a guide to the terminology of this strange land.
Thanks once again to Baby & Children’s Market for having me.
Matched Betting Mum
A former career civil servant, Jodie took a break from Whitehall when her eldest daughter Lily was born just over 4 years ago. Since then, she’s had another baby – Oliver – and moved to the sticks. As a stay at home mum, her day to day life is very much dictated by the school run, toddler groups, clubs, feeding and the bed and bath routine.
Missing the freedom of earning her own money, she randomly stumbled across something called matched betting a few months ago. It offered an easy way to make money from home but it also seemed a bit too good to be true. Backed up by reviews in The Guardian, Telegraph and Huffington Post, though, she decided to give it a go. Five months later, she’s made nearly £4000 in her spare time, simply fitting it in when the kids allow.
Now she’s on a mission to tell other people all about it.
“When I started, it was really difficult to find information which told me how matched betting worked. It’s actually very simple but just takes a little time to get your head around it. I’m sure there are other people out there who are interested in giving it a go but are overwhelmed by the betting world and its technical jargon! My aim is to explain how it all works as simply as possible and give people the confidence to try it out.”
By sharing the experience of how she got started and manages to fit it in around her children, Jodie aims to help others who might be worried or nervous in taking that first step. Along the way, her blog also offers wider money saving tips and random musings about life with her two kiddies.