When I find out people who live in the UK have never heard of matched betting, I cry a little inside. A way for people to make £1000s of tax-free income with minimal effort which is basically exclusive to the UK? It sounds almost ludicrous, but it’s really not! Everyone normally moans that people in the USA earn more money, but I know people who are making over 5k per month from spending 20 hours a week matched betting on the side of a full-time job. Couple this with the fact that it’s tax-free, that’s basically a 10k per month income. We Brits seriously shouldn’t be complaining!
A lot of people who haven’t heard of it think that it’s some form of gambling and that it’s a bit dodgy and risky; IT ISN’T! Matched betting is risk-free!
If all of this is sounding a bit too good to be true to you, I implore you – just give it a try. There’s virtually no risk in doing so, very little time investment (you don’t even need to understand it to make your first £50!) and the software is so good at doing things for you, my Grandma could even do it. So, if you fancy making potentially an extra 120k per year income on the side, read on!
Also a disclaimer, this post will include affiliate links to the matched betting software (OddsMonkey), but don’t let that put you off. I’m not pretending just to make a quick buck. This is the real deal guys, I make over £1000 (equivalent of £2000 pre-tax income) per month from this software and have been doing so for almost 2 years. This is the number one tool in the UK FIRE pursuers arsenal which we’ve got against the US. Matched betting enables minimum wage shop workers to earn as much as CEOs. It unlocks FIRE for anyone and accelerates it. Don’t miss out!
Matched betting is a betting technique used to profit from the free bets and incentives offered by bookmakers. The process involves the individual placing a bet and then laying the same bet in an exchange. This will result in a small loss of the initial bet but should have unlocked a considerable bonus from the bookmaker.
Example (Place an £100 bet to get a free £100 bet)
- Place £100 bet on any sport
- Lay £100 bet in the exchange for the same outcome
- Lose £1.20 when the bet settles (commission for the exchange)
- Repeat process with your free £100 bet
- Withdraw your £97.60 profit
The lay bet usually differs depending on the odds and involves mathematics to calculate, that and finding the best bookmakers and exchanges and odds is what made matched betting quite tedious in the past. But in the last few years software has immersed which basically does everything for you; from finding the best odds to doing all of the lay math. It even allows you to lay directly through the software so you don’t have to go to the exchange!
The software which is recommended is OddsMonkey. They offer a free trial so you can see if matched betting is for you without investing a penny. They even hold your hand through-out the whole process with videos and written guides. Matched betting is actually not recommended without software as you then become more prone to human error.
The amount of money which can be made per month will actually depend on the amount of capital you have. If you have only £200 you should not expect more than £400 per month of profit initially. With £1000-£2000 you can be expecting a profit of £1000+ a month but this will come with the increased time commitment. With a pot of £5000+, there are even some matched bettors making £5000-£7000 per month with ‘casino offers’ using software like Profit Maximiser. But this is not recommended until you have completed at least the sign-up offers on OddsMonkey. There will be a separate section for casino offers in the future.
One of the best things about matched betting in the UK is that all of your profits are tax-free under the gambling tax legislation. So as you can imagine there are some people doing this as a full-time job as the profit can be staggering compared to taxed income.
In this guide, we’ll be walking you through the process of matched betting from the absolute beginning to earning your first £100. We’ll be discussing the tools to use, the way to document, what to watch out for and how to continue to make monthly tax free income after you have completed your sign-up offers.
1. Before You Start
2. Prerequisites – Not Getting Caught
i. Blocking IE Snare – Windows
ii. Blocking IE Snare – Mac
3. Setting Up Your Accounts
4. Preparing Your Spreadsheet
i. Bets Tab
ii. Accounts Tab
5. New Account Offers
ii. Getting There
6. What Comes After New Account Offers – COMING SOON
7. Casino Offers – COMING SOON
8. Eachway Horse Racing – COMING SOON
Before You Start
To start matched betting you’ll need at least £100, this will cover you to do one bet at a time. The profits you make from these bets will soon multiply your pot of money so that you can start completing two or three bets at once and will enable you to earn faster. I recommend to only complete one bet/offer at a time until you are confident with the process, but after that, don’t be afraid to add more capital to allow you to earn quicker. If you really want no bounds, then you could complete all of the sign-up offers within one month with a capital of roughly £2000; this will net you a hefty £1000 tax-free income in your first month!
All matched betting requires software, the software will filter through thousands of sports bets and find the odds which match the best for you to lose as little as possible from your matched bet. It will do all of the maths for you telling you what to lay and what to bet (which is crucial as odds change quickly) and it will even list all of the best offers for you to complete with individual guides in writing and in a video. Matched betting can be completed individually but you will be open to human error and it will be so slow that it would almost not be worth it. We’re in this to make a profit, so this guide is going to assume that you’ve bought (what I think is the best software) OddsMonkey. Sign up through this affiliate link and you can even get a free trial and I guarantee you’ll earn your first month’s membership cost within one day of matched betting. So, go sign up now and then come back to this guide. You can cancel straight away if you think it’s not for you, what’s to lose?
Prerequisites – Not Getting Caught
Matched betting is fully legal, but as you can imagine, the bookmakers don’t want you to do it. They’re giving you promotions in the hope that you’ll spend more money with them. If they find out that you’re a match better, they’ll stop your account from getting promotions, this is what’s referred to in the matched betting community as ‘Gubbing’. It effectively means you’ve taken a pay cut as you can no longer get any tax free money from that bookie anymore. If this happens for one of the bigger bookies, you can potentially be down £100s per month.
A lot of Bookmakers use a web tool called IE snare. They market it as ‘reputation management’ in order to counter ‘fraud and abuse’. It tracks information about your computer and browsing habits. This tool would be able to detect a match better in a heartbeat due to them going to different betting sites and exchanges, and even matched betting sites. The first thing that I recommend doing before you even go onto any bookmakers website is to block IE snare!
How To Block IE Snare
Blocking IE snare via your firewall will stop it from being able to connect to the internet and send reports back to the bookies. To block it, we’ll need to edit your host file.
This is for a WINDOWS computer. Have a Mac? Click here.
1. Run Notepad as an administrator
2. In the ‘File name’ input field paste
and click ‘Open’
3. Ensure that ‘All Files’ is selected
3. Right click on the ‘hosts’ file and click on ‘Properties’
4. Ensure that ‘Read-only’ is un-checked
5. Click ‘Apple’ then ‘OK’ to save your changes
6. Open the hosts file
It should look something like this (if you haven’t edited it before):
7. Copy and paste the following text to the end of the hosts text file
Your file should now look something like this:
8. Save the file (File -> Save), close Notepad and restart your computer
You’re done! You should now be safe from IE snare reporting your sharp punting ways to the bookmakers. Let’s start making a profit!
Click here to skip blocking IE snare on a Mac
How To Block IE Snare – On A Mac
1. Launch your Terminal and enter the following text:
sudo nano /private/etc/hosts
Enter your password if prompted. This should open your hosts file.
2. Navigate to the bottom of the hosts file and then copy and paste the text below to the bottom of the file
O and then
ENTER to save your changes
X to exit.
Setting Up Your Accounts
Before you get stuck in, you’ll need to create the accounts below (in this order). You’ll need all of these accounts to help you stay organized and lay your bets.
You’re going to be signing up to hundreds of bookmakers, you will not want to do this on your personal email address. The email of choice for speed and the handy ‘promotions’ tab is Google Mail. Make sure you do not name your new email address something like ‘[email protected]’ as this is something the bookies will spot and they won’t hesitate to ban you.
You’re going to want to create a new LastPass account, ensuring you sign up with your new matched betting email address. You will be signing up to hundreds of bookies with different usernames, so, you’ll need something handy to keep track of all of your credentials, and you won’t want it mixed with your own personal password keeper.
Smarkets (<- register through this link to get £50 risk free!) is the number 1 matched betting exchange. It also has the lowest commission. You’ll be using this exchange where possible to maximize your profit.
4. Betfair and Matchbook
Betfair and Matchbook charge a higher commission than Smarkets. But sometimes you’ll need to use these exchanges as they’ll offer odds which more closely match the bet which you’ve placed. It’s good to create an account for each exchange so that if you need to make a quick lay bet, you won’t be stalled by not having access to a certain exchange.
Preparing Your Spreadsheet
I currently have 60 bookies in my matched betting spreadsheet. You’ll have bits of your money throughout a lot of these bookies. You’ll need to know how much less you have in your bank account, what bookies are still transferring money out to you and of course – how much profit you’ve made. For all of this, you definitely need a spreadsheet.
You can download my matched betting spreadsheet here. Grab it, and we’ll go through it below.
This is where you’ll be recording all of your matched bets and free bets. For a lot of your bets, you’ll need to ‘qualify’ for the free bet by placing a normal bet, when that bet settles, you’ll then be able to go back and use the free bet.
The bet section is the perfect place to write what you have to do next for that specific free bet. For example – if the bet hasn’t yet been settled, I may add in the date and time that it’s going to be settled next to the bet description. You should also write the free bet in bold underneath along with any restrictions that it has so that you know to go back to that bookie and claim it.
This tab is pretty important as it will tell you where all of your money is. All you need to do is fill in the bookie/exchange name on the left and make sure you update the “Amount Paid Into” section each time you make a deposit. The “Amount In Account” section can be filled in weekly or monthly, this will be the fun time where you can see how much profit you’ve made for the week. “Amount Transfering Out From” and “Amount Paid Out” should be filled in whenever you request a withdrawal and when they do pay out. Some bookies may stall paying out to you, so you’ll definitely need to be referring back to this to see if you need to chase any of them up.
This section appears to the right of the Accounts tab. It will update automatically and tell you how much money you have in your accounts and exchanges. It will also help you to see what the difference in your bank is as you may want to know how much money you started with and withdraw that after your profits grow.
There are also two other tabs which you don’t have to worry about as a beginner. This is the ‘Schedule’ tab and ‘Casino’ tab. You will only use these tabs after you’ve completed all of your [link]signing up offers. There will be an addition to this guide at some point down the line explaining how to take advantage of a weekly schedule and casinos at a later date.
New Account Offers
Now you’ve put in all of the ground-work, you’re finally ready to start making a profit! Now, as I stated at the top of the guide – you need software to matched bet…But it’s worth it. This isn’t a get rich quick scheme or a course that I’m trying to get you to sign up to. This is guaranteed money! It’s also cheap and monthly, you can sign up to just the first month, make your money back in 5 minutes (not even joking) and then cancel your membership and not pay another penny; there will be no monster 12-month contracts here. Even if you don’t think matched betting will really be your cup of tea, I’d still implore you to sign up just for the first month, make £100 and try it out. At least then you’ll know what it’s all about and will be able to adequately decide if it’s for you. You can even sign up for a free trial, make some money and cancel! There really is nothing to lose, but so much to gain!
So – go and sign up to OddsMonkey via the link above, either pay the £17.99 for the first month (you can cancel, it’s not a contract), or sign up to the free trial if you’re still unsure, then come back here and I’ll walk you through the software and how to get started.
A new account offer is when a bookmaker gives you free money for signing up to their bookie. This is guaranteed profit for matched bettors and will be some of your most profitable offers. Completing all of the new account offers on OddsMonkey alone, will net you over £1000 tax free cash. In order to receive the new account offer, you must not have had an account with the bookmaker before. These offers are also limited to 1 per household, so, ensure that no-one else in your house has recently claimed the offer.
MatchedBetting has many facets and trying to understand all of them can be quite complicated at the start. It’s recommended to complete all of the new accounts offers when started out. This is for two reasons:
- They’re the easiest and most profitable offers to do, so they’re good for learning the ropes.
- You’ll need the accounts open anyway to do other Matched Betting activities, so after the new account offers, you’ll have them all created and ready.
After logging into OddsMonkey, navigate to the ‘OFFERS’ menu item, then click on ‘New Account Offers – Bookmakers’. You do not want to do the new account offers for casinos and bingo until you have finished all of the bookmakers new account offers and are sufficiently ready to learn another dicipline.
You’ll then be presented with a categorized list of new account offers. Make your way down the list from top to bottom. OddsMonkey will walk you through the process of matched betting and hold your hand through your first bets.
- Click on ‘Mark as complete’ next to the ‘View Guide’ button when you’re done. This will help you know which ones you still need to complete. Don’t worry, you can still mark them as incomplete again in the ‘Completed Guides’ tab.
- Remember to fill in your spreadsheet after each and every matched bet, it’s important to keep track of your free bets.
- Save filters on the Oddsmatcher as you search for certain bookies, this will speed the process up the next time you use that bookie.
- Make sure you hook up your exchange accounts to the Oddsmatcher, this will allow OddsMonkey to lay the bet for you. Just click ‘Lay the bet’ when in the calculator instead of going to the exchange and it will walk you through the linking.
What Comes After New Account Offers
Eachway Horse Racing
Sorry for the boring post if you’re already using OddsMonkey to make a second income. I just had to do a post about it as I believe that it’s the UK FIRE pursuers number one tool and that everybody should be utilizing it.
If you’re still thinking about whether you should give it a try – that maybe you don’t have the time, or it sounds like gambling. Please, just give the trial a go, it’s free! After you’ve passed the initial learning stage (and netted about £1000 tax-free profits), there are a plethora of other matched betting techniques which you can utilize, some of which barely takes any time at all. I am actually only matched betting between 30 minutes and 1 hour per work day and I’m banking over £1000 per month. I’d have to get a pay rise of £30,000 per year to earn the same amount of after-tax money per month extra which matched betting is getting me. All for a meager few hours a week. It is truly life changing.
I’d like to offer any of my Ninja followers to comment below if they have any questions or get stuck with anything! All questions are OK, I’ll get back to all of you as fast as I can. I’ll even help you through your first steps if you’re struggling.
Matched betting is making me rich, I want my Ninja’s to be rich too! We are a clan after all ;]