I’m not a gambler. In fact, I’m very cautious about taking risks! I always play it safe with my investments and ventures, and the idea of losing money makes me very anxious. Despite this, I’m a huge fan of a money-making method called matched betting.
Now, I know it has the word ‘betting’ in it, but it’s not gambling. This technique allows you to make money from betting sites without actually risking your own cash. It might sound too good to be true, but stay with me. If you’re curious about how to make money online through betting, keep reading to learn how to earn a legit extra income with this method!
The way to make money without gambling is called matched betting. Unlike gambling, you’re not playing to win. With matched betting, it doesn’t matter who wins the game—you’ll make money regardless of the outcome.
Here’s how it works: you ‘match’ your bets across two different sites, ensuring you never lose. For instance, if you bet on a football match between England and France, you place a bet on one site for England to win and a ‘lay bet’ on another site that England won’t win (covering both a France win and a draw). No matter the result, the two bets cancel each other out, so you win one and lose one.
So, where does the profit come from? The profit in matched betting comes from the free bet offers that bookies frequently run. You’ve probably seen ads like ‘Bet £10, get a £20 free bet.’
In our example, we didn’t profit from the initial England-France bet; that was just to qualify for the free bet. The bookie then gives us a £20 free bet as a reward. Instead of gambling that £20, we place two more bets on different sites—one for and one against a particular outcome. This time, since we used a free bet, we make money regardless of the result.
There’s a bit more to it than just placing random bets. We use special matched betting calculators and software that tell us exactly how much to bet and where, based on the odds. To access this software and get more advice and guidance, I’m a member of the matched betting tutorial site Outplayed.com (formerly known as Profit Accumulator). This software is crucial because the method relies on mathematical accuracy.
You can make up to £40 with a free trial of Outplayed this weekend.
How much can you make with matched betting? It depends on how much time you put in. You’ll be slower at first while learning the ropes, but you’ll get faster and complete more offers in less time.
In my first month of matched betting, I earned £266.52 and made my first £1,000 in just under 12 weeks. I continued to match bet regularly and made between £200 and £600 each month, depending on the time I invested. I usually spent a couple of hours on Saturday mornings and did a few more offers during the week.
I’ve taken a break from matched betting since last year because I bought a house and didn’t want any betting transactions on my bank statements for the mortgage application. For a while, I used PayPal for matched betting, but many bookies didn’t accept it, so I paused. I’m planning to start again when I go on maternity leave later this year and will update you on my progress.
Other people also make good money from matched betting. It’s motivating to see how much others earn, and you can find this information on Outplayed’s forums and blog posts. Some people claim to earn over £1,000 a month, although this often involves spending a lot of time on it or making money from casino offers, which are based on luck.
For someone with a full-time job, earning £200-300 a month is realistic. However, there are no guarantees, as it depends on how quickly you pick things up and the seasonal offers available.
If you’re a member of Outplayed, there are forum threads with daily updated lists of offers to help you meet your earnings goals, whether it’s £300 or £1,000 a month. These threads are great for saving time and showing what’s possible.
Matched betting income is tax-free in the UK because gambling winnings are not taxable. Even though matched betting isn’t considered gambling due to its low risk, HMRC doesn’t tax it as it’s not seen as trading income.
Matched betting is legal and simply involves placing bets on betting sites and taking advantage of special offers. However, bookies may stop sending you special offers if they figure out what you’re doing, a process known as ‘gubbing.’
Matched betting is safe as long as you follow instructions carefully to avoid human error. Joining a training service like Outplayed can help you learn the ropes and minimize risks. They offer step-by-step guides, videos, and support to ensure you place your bets correctly.
Matched betting is suitable for anyone looking to make extra money online, whether to top up their salary, maternity pay, or pension. It’s also a relatively fast way to see results compared to setting up a business. You don’t need to know anything about sports or be good at math; just follow the instructions provided by the software.
However, matched betting isn’t for everyone. It’s only open to residents of the UK and Ireland, and you must be over 18. If you have a history of gambling problems or addiction, it’s best to avoid matched betting.
To get started, you need an internet connection and around £60-£75 for your first bet. I recommend joining a matched betting training service like Outplayed for guidance and support. They offer a free trial where you can make up to £40 with your first two bets. After the trial, membership costs £29.99 per month or £199 per year, but you’re likely to make back the fee in just a few bets.