Matched betting is a great side hustle; being both completely tax and risk free. It's an often debated question, however, if matched betting is something that you can do long term, so here's my verdict.
First of all, what is matched betting?
Matched betting is a way to make some serious guaranteed profit by utilising the free bet offers that bookmakers offer. A lot of people think it's too good to be true and wonder “why isn’t everyone doing it?” – which I decided to answer in this blog post.
Common questions about matched betting
The most common questions I find are:
- How much money should you start out with?
- How much money can you make?
- How long will it take?
They can all be answered differently depending on what your goals are and how much time you have available. Some people want to really focus on matched betting to make some money for an upcoming holiday etc., and others want to have a regular income from matched betting, long term. There is no right or wrong way to go about it – either take a quick cash hit or go slow and steady for more regular earnings.
It's recommended to start with at least £60 and complete the first two offers in your free trial. This should see you make as much as £60 back on top of your original £60. If you decide that matched betting isn't for you then just enjoy that money which will go straight back in your bank (including your earnings!) within 5 days. As for how much time it will take, that depends on you and how much time you have to dedicate to matched betting.
Won't bookies shut down your accounts?
No, they will not, unless of course, you are doing something fraudulent (such as having more than one account at a bookmaker). What you have probably heard about it called “gubbing” or “being gubbed” which is a term bookies use to say you cannot get any more free bets from them. You can still place bets and withdraw your money, but you won't be eligible for their offers. Gubbings do happen, and it is important not to take them personally. There are still plenty of bookmakers with daily offers.
What about after the sign up offers?
The sign-up offers are where the majority of the money is when you first start out. After completing the sign up offers you can decide to move on to the reload offers, or stopped matched betting and withdraw your earnings. There are new reload offers every single day and there are also big events throughout the year when there are lots of offers on.
Can you make money with reload offers?
Definitely! Know though, that it does get harder than the initial sign up offers were. It can become more time consuming and sometimes there just aren't as many offers. However, big events such as the Cheltenham Festival, have lots of offers to choose from. I keep paying for my Profit Accumulator subscription because of the reload offers. Every single day there are new offers posted, with a rating of how profitable they are. If you're short of time, you can look for the best offers to complete using the star rating.
What about mortgages and matched betting?
Matched betting is a great way to boost your income, however, does it affect any mortgage applications happening in the distant future? Many people are put off by matched betting because they are planning on applying for a mortgage within the next 2 years, but if you find yourself in this situation you don’t need to worry! Here’s what you need to know about matched betting and mortgages.
Can you do matched betting long term then?
YES! Although the amounts get less than when you initially started matched betting, it's still possible to do it in the long term. It does get harder and you need to learn more to keep your earnings going long term but it is absolutely possible. It is also perfectly okay to stick with matched betting for a month or two and make a quick buck before stopping.