When I started this blog it was because I had helped a friend of mine make a few hundred spare pounds by doing matched Betting. The one thing that struck me was although I found it relatively easy, my friend was struggling with some of the basics. The main one being how to use the matched betting calculator. He was constantly asking me matched betting questions at all times of the day and evening.
This reminded me that everyone learns at different rates. Some people struggle with the simplest tasks in matched betting even if in their day to day life they are super intelligent.
So seeing as matched betting is kind of my forte in Side hustles I thought I would put together this list of my top 10 most asked Matched betting questions. This way they are all in one place for everyone to look at in their own time.
If you have no idea what Matched Betting is and wish to know more, Specifically how to earn anything from £50-1000 per month extra cash tax-free then have a look at my in-depth guide to matched betting here.
Ok, so here we go with some of my most asked matched betting questions. I hope these give some of you the answers you have been looking for. It certainly beats scouring the internet searching for them.
Is Matched Betting Gambling?
Not the easiest first question to answer as it is Yes and No. Technically you are on a gambling website and yes you are placing bets so you could say this is gambling.
What you are doing though is placing 2 bets to cover every single outcome of a football match for example. By doing this you not only have no chance of losing but you are gaining free bets from the bookie for doing so. This leads to earning profit by simply repeating the process.
So, on the whole, I would say matched betting is not gambling as you are taking no risks. All Matched betting blogs would say the same thing.
The only risk would be from you placing the wrong amount of money. Incorrectly entering figures into a special matched betting calculator could also lead to you misplacing a bet.
You are essentially only betting for profit.
How Do I Find The Bets?
There are a few ways of finding the bets you need to place in order to make your nice little profit.
You can find the free bets by simply looking through all the bookies on the web. See what free bets they have to offer that day. All of them do a free sign-up bet for new members.
There are also continued free bets for existing members, these are called reloads.
Now once you have found these free bets on the various bookie sites you can then search online for some free calculators. These will help you work out how much you need to place in order to open the free bet.
Now if all of this sounds like a pain (It Is!!) then there are better ways of doing it. I used this way for a few months and did make around £300. The only issue was it took time and I could have made mistakes if I wasn’t careful.
Matched Betting Membership Services
The absolute best way and number one way of finding the bets you need to place is to join a premium matched betting service.
Now I can hear your mind ticking over. Yes, it costs a little each month to join. The time saved and the money you will earn plus all the extras joining one of these sites gets you it is well worth the money. Take that from someone who has tried matched betting both ways.
The site I belong to and wholeheartedly recommend is Profit Accumulator. They are number one when it comes to matched betting. They have the best walkthrough guides for your first few bets and indeed every signup offer after that. See the below link for more info on the amazing work done over at the profit accumulator site.
Not only do they have all the best in one handy place. They also have a free matched betting calculator that you will need and instructions on how to use it. They also have a very handy forum for members. This will help you chat amongst like-minded people who are all out to make some decent profit.
Below are some of my matched bets from one month last year.
Will Matched Betting Affect My Mortgage Application?
Easy one this. Yes, it can. There is no use trying to explain on your mortgage application that you are using tactics designed to fool the bookies and take their free bets for profit.
The best thing for you to do before you start matched betting is to set up a separate bank account with a debit card. This can be done online in a matter of minutes. This way when you are giving over bank statements on your mortgage application then there are no incomings or outgoings from any betting sites.
Use a separate email as well to sign up with. This will stop you from getting spam email in your normal email address.
Can I sign Up My Partner To My Betting Accounts?
Generally no. Your thinking Ive made a few hundred pounds wouldn’t it be nice if my partner could do the same. We could afford that holiday in no time.
I’m sorry to say that 95% of bookies only allow one sign up per household. There are however some bookies that are partner-friendly. Here is a list of some of those at the time of writing.
Skybet, Ladbrokes, Betvictor, Bwin, Coral, and Unibet are the more popular partner bookies. Please check the individual rules for each site as they may differ. Out of all of these Skybet is my favorite one. I do a lot of my matched betting on that one in particular.
Do I need To Know Anything About Betting Or Sport?
Not really. As I have stated in some of my other matched betting posts I stumbled across matched betting on Mumsnet. (Dont ask why I was there) So many single mothers were telling each other about how they were making a few hundred pounds a month while their children were at nursery.
The main thing was although a few of the ladies knew a little about football the vast majority didn’t and not only that had never placed a bet in their life.
Obviously signing up with a matched betting membership service will certainly help. This will give you access to a matched betting calculator as well as other handy tools to maximize your profit.
I had a friend at work who had placed bets on the grand national. That was it and he knew little about football but was soon matched betting every weekend and making around £300 a month.
How Much Money Can I Make?
Ahh the big question and one of the first that most people ask me. I have made over 4 figures and I have not invested as much time as I would have liked to. When I do spend some time with it and spend maybe 30mins per day plus a couple of hours each weekend day I can make around £300-400 per month but some people can make much more.
You used to be able to earn around £2000 per month but that is far less common these days. £1500 seems to be the reasonable ceiling of earnings at the moment.
When you have finished all the sign up offers you should have £1200 or more. Then you can move onto the reload offers and a few hours per week should bring you £300 upwards easily.
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Are There Risks?
Another big question that people want to know. When they hear the word betting they wrongly assume you are risking your cash.
There is only one risk from matched betting and that is the human factor. You can only lose money if you enter the wrong amount into your bet slip or make a mistake with the amount you enter into your matched betting calculator.
There are no other mistakes to be made. Oh unless you actually start gambling for real because then that would be a big mistake.
How Much Do I Need To Start?
It depends is the honest answer. You can start with as little as £50. It just means that when you have won your first bit of profit you have to wait for the bookie to pay out to your bank account before you have the funds to move to your next sign up offer.
This can take as long as 5 days. So the best answer is the more you put in the quicker you will make it.
I initially started at around £150. There was even a point where I had to wait for funds to clear before proceeding.
Do not let this put you off however £50 is adequate. As long as you are patient this is fine.
Do I Need To Be Good At Maths?
Another popular question. Most people look into matched betting and see that it involves figures and odds This scares them thinking they need to be some kind of maths whizz to make a profit.
If you do happen to be great at maths then this is certainly going to help you out along the way but to be honest you can usually find a good free matched betting calculator online to help you work out how much money to place etc.
If you are members of one of the matched betting membership sites such as profit accumulator then there are going to be more calculators than you can shake a stick at to guide you along the way so no need to worry if you are not great.
I got a C grade in maths and although I’m not completely rubbish I’m no whizz either and yet I have managed to make a steady profit through matched betting for years.
Is Matched Betting Legal?
Another big question as to when people start to look into matched betting and see the kind of profit to be made each and every month they wonder if all of this is either a scam or somehow illegal.
The answer is no, It is not illegal. Not only that but any profits from matched betting are tax-free!
Dont get me wrong, the bookies hate matched bettors as we drain away their profit. What they are after is what we call Mug Bettors which are the guys and gals that you see in the bookmakers on a rainy Tuesday afternoon when they should be working.
So although the bookmakers dont like you very much as a matched bettor there is nothing you are doing which is illegal or frowned upon.
The worst that can happen is the bookie will GUB you which means limiting your account or in some cases closing it to stop you taking more of their free bets.
So there are my top 10 most asked matched betting questions, I hope some of these have helped you out with your matched betting journey. If you are just starting out then brace yourself as it will be a mix of confusion and questions but then smiles when the profit rolls in.
If there are any other questions not listed here then I am happy to hear them in the comments section and I will try my best to answer them in a way that makes it understandable for all.