A number of people are looking to matched betting for extra income, but many are also looking to it as their sole source of income.
These people include those that have already started matched betting profitably, but also those that are looking for ways to make money online with just a couple of hours work each day.
This lifestyle is particularly popular at the moment.
Many students are becoming matched bettors in their spare time instead of seeking a job to pay off their entire tuition fees in just a year.
It’s also increasingly popular with stay-at-home mothers and fathers who need a way to make money online easily whilst managing the difficult task of parenthood.
The reason you want to make a living with matched betting is simple:
It’s incredibly easy and can be done by anyone.
The income can be SO great.
In this post, we’re going to tell you everything you need to know about making a living with matched betting – just like we do.
Table of Contents
Before We Get Started…
If you’re looking for ways to make money online fast but you don’t yet know what matched betting is, then we absolutely recommend you check out our definitive guide: What is Matched Betting?
If you want to carry on reading this guide, we are going to make the assumption that you are familiar with the concept of matched betting and that you understand it’s entirely possible to make a living online with betting.
Let’s get started!
How much are you planning to earn from matched betting?
You need to be realistic in the figures that you think you can achieve, based on the hours you put in.
We’d suggest that an average of £1,000 profit (tax-free) each month is achievable for full-time matched bettors, with £1,500+ profit capable on good months.
These are just hypothetical examples, please note.
Our best month since turning full-time is well over £6,000 in profit – that’s one person.
What do we mean by ‘full-time’ anyway?
In matched betting, we’d say full-time is 2-3 hours a day.
Matched betting is 100% tax-free, meaning that a £1,500 monthly profit is actually equivalent to a taxed salary of over £20,000.
Not too shabby for a couple of hours at a computer from home each day.
If you’re able to break that £2,000 profit margin each month, you’d earn a minimum of £24,000 in a year – which is the same as having a salary of over £30,000 in a regular job!
This is all achievable with just one account with each bookmaker and casino.
Matched Betting Bankroll
One thing that will be essential for matched betting to earn a full-time income is your bankroll.
Your bankroll is the money that you will solely invest in matched betting, not all of the money that is in your bank.
In fact, we’d recommend you actually use a separate bank account for matched betting; this will really help you become more organised, but it isn’t essential.
A separate bank account will also be useful if you have a few, or many, outgoing payments each month such as rent or mortgage payments, along with direct debits.
Ensuring you have more than enough money set aside to pay your bills is of course a fundamental part of ‘turning pro’.
If you’re looking to earn a full-time income, you’re going to need an absolute minimum of around £4,000-£5,000 in your bankroll. Ideally, you’ll need a little more than this.
This can of course be earned by steadily building your matched betting profit over the course of a few months, before going full-time.
You only need £100 or so to start matched betting in the first place.
You should easily turn this into thousands of pounds within just a few short months if you put the work in.
If you’re lucky enough to already have a few grand spare then you will be able to make the bigger money instantly, as long as you put the work in and follow instructions carefully, although we’d still advise getting in slowly rather than diving in head first.
It’s important to note that you will rarely need to use all of your bankroll in one go.
However, in the event that you ‘win’ all of your money out of your betting exchange into bookmaker’s accounts or vice versa, you’re going to need to be able to deposit extra funds when necessary whilst you wait for withdrawals to process.
The withdrawal process typically takes 2-5 days with most bookmakers, just as it would for any refund from any shop.
Your bankroll is more of a safety net than anything.
Matched Betting Schedule
In order to make the most amount of money from matched betting, you’ll need to have a pretty good schedule in place.
A lot of people ask me what my typical day looks like, but I’ll say this:
Following someone else’s exact schedule will never be for you, so you’ll need to find a good balance of what works for you.
Everyone has a different life, everyone has different commitments, so figuring out what works for you through trial and error is a big part of the fun when you go full-time.
However, a common routine is something like:
Mornings: look at any new offers for the day ahead – after your lie in, of course! Jokes aside, lie-ins should be used sparingly in our opinion. Getting up and being active is a great thing to recommend when you’d otherwise be stuck at the computer for large chunks of the day.
Afternoons: bet on the horses trying to earn refunds or free bets from these. Look into accumulators to place. Tennis is another event that can often be matched bet on during the day. Fire up some casino offers. Always try to use your free spin offers, no matter how tedious. On quieter days, look to improve your Betfair trading knowledge.
Evenings: bet on the football, trying to earn refunds or free bets from these, lay off accumulator matches for the next day. Horse racing and greyhounds are also possibilities on some evenings, along with sports such as darts and snooker. Again, casino is always a possibility, there are also outside shouts to look into like bingo, poker tickets & trading.
Weekends: these will be your busiest days by far.
For most matched bettors, it’s not unrealistic to hit 50% or more of your weekly profits from the weekend alone.
Because most football takes place in the day on weekends, and there are usually an increased number of other offers available too, it can be a bit of a frenzy.
This is where it becomes important to map out your day ahead.
On Saturday and Sunday mornings, map out the best horse races for hitting refunds.
Also, plan the football promotions that you’ll definitely want to be betting on.
The more bets you can actually place earlier on in the day, the easier it will become later on.
However, it’s not always possible to find good matches between the back and lay bets until closer to the event.
The more organised you are and the more you stick to a schedule, the more efficient you’ll be with finding, placing and tracking bets.
Keeping Accounts Healthy
An extremely important part of matched betting is a technique known as mug betting. Mug betting is what makes you look like a regular punter in the eyes of bookies.
Bookies are relatively happy for you to do matched betting, as long as you don’t take too much value.
Mug betting is the way you give a little back to them, without actually giving anything (or much) back.
The process of mug betting involves betting on races or matches that won’t qualify you for offers.
To the bookie, this stops you looking like a ‘bonus hunter’ as you clearly want to bet on all events and not just ones that might qualify you for a free bet.
We’ve covered advanced mug betting if you want to learn more about the intricacies of keeping your bookmaker accounts healthy.
The Tools You’ll Need
If you’re familiar with the Beating Betting website, you’ll probably know that we recommend using Oddsmonkey for most matched betting needs.
Side note: you can sign up to them for free, if you still haven’t, via this link.
However, if you’re planning on trying to use betting for your sole source of income, it is definitely advisable to consider adding another tool or two to your arsenal.
For the most part, another subscription will only cost a couple of day’s worth of profit at most and it could only take one great offer to recoup the cost of it.
The number one alternative tool that we recommend is Profit Maximiser, and this is because they cover such an alternative area to Oddsmonkey. Profit Maximiser specialise in casino offers, meaning they’ll list a significantly higher list of offers in this area and they can be incredibly lucrative (although higher risk).
For finding other potentially valuable tools, you can check out the review section of our site.
If you have any questions about earning a full-time living online with matched betting, please don’t hesitate to drop us a comment below and we’ll be sure to answer any queries you may have.