Making a Living From Matched Betting

Most people who get into matched betting do so to make a little extra cash on the side. It’s really popular with stay at home Mum’s and Dad’s as they can make money in a couple of hours a day around looking after children.

I started doing it around a full time job and combining the earnings from matched betting with my salary gave me a much more comfortable lifestyle. First of all you might be wondering, what is matched betting? Go read our post on that subject if you are completely new.

Some people have taken matched betting to another level though and it is their sole form of income. Some people have been able to make themselves very wealthy from matched betting with some making over £4000 per month.

A lot of people would love to work from home and get out of the daily commute and the 40 hour week. Who wouldn’t? Let’s be clear though, to make the kind of money you will need to quit a full time job you will need to put the hours into your matched betting. 1 hour a day won’t cut it.

We’ve all ready written a detailed post on this subject so won’t go into too much detail here. However £1000 a month is a very realistic target and something I have achieved more often than not.

Once you get comfortable with the techniques and become faster at getting your bets placed then £2000 per month can be achieved.

Occasionally it is possible to make even more than this. When Cheltenham is on or there is a big event like a World Cup there are so many betting offers you can make a small fortune. In our opinion though anyone making more than £3000 a month every month is gnoming. Gnoming is when someone has multiple accounts to the same bookie so they can take advantage of the same offer many times over. This is an extremely risky thing to do as it is against all online bookies terms and conditions and if they catch you they will close your accounts and may even confiscate any funds in the account. We do not recommend doing this. Try not to get greedy.

Matched Betting is also 100% tax free in the UK as it is all classed as gambling winnings. This means that earning £1500 a month would be the equivalent of working a full time job earning £20,000 per year as there is no tax.This is achievable for anyone with 1 bookie account at each bookmaker so no Gnoming!

Matched Betting Schedule

Time is money. The more time you spend matched betting the more money you will make. So you need to get origanised and stay on top of your game. Write everything down or use a spreadsheet to keep track of your money and all your bets. The last thing you want to do is forget to lay a bet and end up losing your days profits because of one mistake.

Always lay immediately after you place a back bet. If you wait and hope the odds will change in your favour you are gambling. They could go the other way and cost you money or even worse you will end up forgetting to lay and it will cost you your back bet stake.

This is how we make the most of matched betting.

Mornings: Log on to Oddsmonkey and check all the available offers that are on that day. Identify the ones you want to do. Do as many risk free offers as you can.

If there is a risk free casino offer get straight on it as they don’t always last all day.

Dinner Hour if at work: Check Oddsmonkey again for any updates, check the forum. Place our back bets and lay bets for the afternoons horse racing.

Evenings: Check the horse racing results and use any free bets we have accumulated. Start planning for the evenings football offers. Check the Oddsmonkey forums to see if there any first goal scorer offers worth getting on. First goal scorer offers are great but often the odds are rubbish and getting a good match impossible. We need to make sure the qualifying loss is good value.

Update our spreadsheets and lay off any accumulators that we still have running after the football is finished.

Place some mug bets. Keep your accounts healthy and place some none offer related bets. Always lay them off.

Weekends: This is where the big money is made. Lots of football and lots of horses.

Saturday mornings: Get up early and get on Oddsmonkey forums for around 8:20am. A lot of bookies will have boosted horse odds starting at 8;30 am, these don’t last long at all. Sometimes they are available for a couple of minutes at most. The bookie will decide how much money they are willing to accept at the boosted odds and then that is it. So we need to be online. Often we can get many no loss horses backed and layed in this time.

Once the rush has settled down we check the forums and Oddsmonkey for any other offers. There will be a lot on the football. Some of these are on every week so you will get in a routine of getting on these regular offers.

Look out for price boosts on posted by users on the forums. These can be backed and layed for an immediate profit.

Sundays: Lots of horses again so get on them. There’s also usually a big football game on and there will be plenty of offers across all the bookies on the Sunday big game.Weekends are where most of your money will be made. If you want to make the £1000+ sums every month then weekends cannot be ignored.

At the end of the week calculate your earnings and write it down in a journal or cash book. We find this incredibly motivating.

Mug bet again!

Conclusion

So making a living from matched betting is very possible and anyone can do it if they are committed to learn the process. If you are completely new to matched then check out the free matched betting trial at Oddsmonkey.

Let us know in the comments about your success stories and let us know if you are a full time matched bettor.

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