Matched betting full-time
This article discusses matched betting full-time. How much income can you make doing matched betting for a living?
Let’s see how to approach matched betting full-time, plus useful hints to maximise your profits.
Matched betting is using free bets and bonuses to make money. Backing and laying to extract a profit from bookmaker offers.
Place a bet at a bookmaker and a matching bet at a betting exchange. This qualifies your for a free bet or bonus. Simply repeat the process using the free bet – to make a tidy profit.
Check out What is Matched Betting? for more details.
If you’re considering going full-time with matched betting, ask yourself: How much money do I need to earn from matched betting?
A few hundred pounds a month is achievable, up to £1,000 per month with consistent dedication. Remember, these figures are a guideline and profits can vary.
The more experienced and advanced players often expect to earn £1,000 each month. Remember that matched betting income is tax-free.
This is a good amount of money, but is it enough to replace a stable full-time income? Let’s consider the potential good and points of going full-time.
How much money do I need?
You will need enough money available to earn a full-time income from matched betting. Your bankroll is the money that you will use only for matched betting. This is separate to the rest of your finances.
It is advised to use a separate bank account for your bankroll. This can be with your existing bank or even a new app-based current account such as Monzo.
You will need at least £5,000 to go full-time. A bigger bankroll would be ideal. However, regular matched betting can increase your bankroll in the period transitioning to full-time.
If you’re ready to make the leap – what are the good and bad points to consider?
Here is a comparison of the main pros and cons of going full-time.
|Tax free earnings||No regular income from a stable full time job|
|Set your own schedule: 2 to 3 hours a day||Possible unsocial hours and impact on social and family life|
|Get involved in online matched betting communities, share tips and strategies to enhance your profits||Lack of regular routine could affect your motivation. Will you be self-disciplined?|
|Freedom to be your own boss & no commuting to work||Potential gubbings could affect your earnings. Also, matched betting earnings do not count as income for a mortgage|
Advantages of matched betting full-time
- Flexibility: New full-time matched bettors often enjoy their new-found flexibility. No more 9 to 5 job, being able to plan each day according to your needs.
- Tax-free profits: Simply dedicate a few hours each day to your new routine. This should yield £500+ per month – equivalent to £10,000+ gross salary. Remember, all matched betting income is tax-free.
- Online commnunities: The biggest change from a regular job may be the change of routine and lack of colleagues. Fortunately, there are plenty of thriving matched betting communities on OddsMonkey and similar services.
Disadvantages of matched betting full-time
It may not be all positives. There are a few negatives to consider – both financially and socially.
- Mortgages: Matched betting earnings cannot be used when applying for a mortgage. You’ll need another source of income.
- Motivation: Self-motivation is important to ensure that you complete offers. With no boss watching, will you suffer from a lack of motivation?
- Unsocial hours: Most sporting events are at the weekend. Can you adjust your social life around matched betting offers? Consider the possible impact on relationships with friends and family.
- Gubbings: Also, completing a large volume of offers is likely to lead to quite a few gubbings. Ensure that you diversify with a variety of offers – including sports, casino, bingo
Full-time matched betting schedule
When starting full-time matched betting, what will a typical week look like?
Start of by searching for offers. Complete the basic “low hanging fruit” offers – bet X get Y, free spins, money back specials, price boosts.
Horse racing refund offers, ACCA insurance, daily casino offers.
In-play offers, more casino, and finally update your daily records. Also, look out for other sports such as darts, snooker and evening horse racing. Perhaps some free bingo and poker promotions.
Often the busiest time. Use Saturday mornings to devise a plan. Decide which football, horse racing and casino offers to complete based upon the highest EV first.
As your schedule evolves, you will find a balanced schedule.
Ongoing matched betting strategy
Clearly, you will want to maintain a good set of accounts. Try to avoid getting your most valuable accounts gubbed. Also, do some mug betting – i.e. backing and laying when there is not an offer involved.
Bookmakers do not like customers that take too much value, so consider giving a little value back every so often.
Full-time matched betting resources
Personally, I think that matched betting full-time is a big leap. I view this as an extra income alongside my day job. Please consider the various factors before making any big decisions.
In the mean time, it is woth signing up to a matched betting site to enhance your profit making:
These specialist matched betting services have lots of tools and customer support.