Matched betting is a way of using bookmaker promotions and free bets alongside a betting exchange to potentially make a profit. Instead of trying to predict the winner of a sporting event, you're using opposing bets to reduce the impact of the result and take advantage of the bookmaker's offers.
OddsMonkey
All-in-one matched betting tools, offer guides, calculators and bookmaker offers in one place.
- Matched betting tools & calculators
- Potential £779+ in sign-up offers
- Step-by-step guides for every offer
- Bookmaker sign-up & reload offers
- Customer support
- 7-day free trial
Great for beginners & experienced bettors
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What is matched betting?
Matched betting involves placing a bet with a bookmaker and an opposing bet on a betting exchange. The two bets cover the possible outcomes, so you're taking advantage of bookmaker promotions such as free bets and enhanced offers rather than simply gambling on which team or horse will win.
The aim is to turn the value of those promotions into cash.
How does matched betting work?
- 1Find a bookmaker promotion.
- 2Place the qualifying bet required by the offer.
- 3Place the corresponding opposing bet on a betting exchange.
- 4Complete the promotional requirements.
- 5Use the free bet or promotional offer with another opposing exchange bet to convert the promotion into a potential profit.
The calculations and stakes need to be correct, which is why many people use a dedicated matched-betting service rather than trying to work everything out themselves.
How much can be earned through matched betting?
The amount you can make depends on how many bookmaker offers you have access to, how much money you have available and how much time you put into matched betting.
By working through bookmaker sign-up offers and ongoing reload offers, around £400–£800 a month can be achievable for an active matched bettor. This varies from person to person and isn't guaranteed.
There can also be a significant amount available from bookmaker sign-up offers when you first start. OddsMonkey is currently advertising £779 in sign-up offers, although the available offers and total value can change.
Once you've worked through the initial offers, reload offers and other promotions can provide further opportunities.
Why do bookmakers give away free bets?
Bookmakers use free bets and other promotions to attract new customers and encourage existing customers to keep using their services.
For a normal bettor, a free bet is an incentive to place another bet. For a matched bettor, the promotion itself is the opportunity.
By placing an opposing bet on a betting exchange, matched bettors can use the bookmaker's promotion while reducing their exposure to the sporting result.
How much money do I need to start?
You don't need thousands of pounds to get started. A betting bank of around £100+ is usually recommended for beginners, although the amount you'll need can vary depending on the offers you're completing and the size of the bets involved.
Starting with a smaller bank is possible, but you may need to work through offers more slowly. It's important to only use money you can afford to have tied up temporarily while completing offers.
Our view of matched betting
I've been doing matched betting for several years and I still make around £1,500 a month from it.
For me, that's what makes matched betting different from many of the other side hustles on this site. It isn't just about completing a few sign-up offers and then stopping. There are still bookmaker promotions and reload offers to work through once you've been doing it for a while.
That doesn't mean everyone will make £1,500 a month. Your results will depend on the offers available to you, how much time you put in, your betting bank and how accurately you complete the offers.
I also wouldn't recommend trying to do everything manually when you're starting out. There are a lot of bookmakers, odds and calculations to keep track of, and a simple mistake can turn a matched bet into a loss.
That's why I'd recommend using a dedicated matched-betting service such as OddsMonkey if you're serious about giving matched betting a go.
