This article discusses matched betting full time. How much 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.
What is matched betting?
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 you 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 Â£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 Â£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.
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 Â£5,000 to go full-time. A bigger bankroll would be ideal. But, regular matched betting can increase your bankroll while you transition 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: Dedicate a few hours each day to your new routine. This should yield Â£500+ per month, or equal to Â£10,000+ gross salary. Remember, all matched betting income is tax free.
- Online communities: A new routine and lack of colleagues may be the biggest change from a regular job. Thriving matched betting communities on OddsMonkey and similar services can help..
Disadvantages of matched betting full time
It may not be all positives. There are a few negatives to consider – both financial and social.
- Mortgages: Matched betting earnings do not count 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 getting gubbed. 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 off 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.
Inplay 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 for football, horse racing and casino. Use Saturday mornings to devise a plan. Based on the highest EV first, decide which offers to complete.
As your schedule evolves, you’ll find a balanced schedule.
Ongoing matched betting strategy
You’ll 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 don’t like customers that take too much value. So consider giving a little value back every so often.
It would be a big leap to start matched betting full time. Matched betting is best viewed as a way to make extra money.
In the meantime, it is worth signing up to a matched betting site to enhance your profits:
The specialist matched betting services have lots of tools and customer support.