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If you’ve been reading my articles or following my social media channels for a while, you will know that I have made good money from no risk matched betting. I think it is a fab side hustle that you can earn good money from.
I’ve been doing it for about three years now and have made thousands in tax-free money. But some people are nervous about starting. The questions that I commonly get are: “is it really risk free?”, “is it legal?”, and “what’s the catch?” This article is here to address those questions.
If however, you want to know more about how it works and how you can get started, then you should check out my matched betting for dummies guide. It is very thorough.
What is matched betting?
I’ll start with a brief description of what it is, as I think that it’s name is actually quite misleading. Firstly, it is not betting. You won’t be gambling. But you will be using betting and gambling sites.
These betting sites (or bookies) regularly have offers that they use to get people to head over to their websites and place bets. Now some clever sausage realised that with a bit of smart maths that they could profit from these free bets.
Typically, a bookie will have an offer that says something like “bet £10 and get a £10 free bet.” What you will do is place that first bet with your own money, but also place the opposite bet with a website called an exchange. Meaning that you’ll lose one and win the other, so essentially nothing lost.
But it will unlock that free bet. This is where you make money. You do the same thing again, but this time using the “free money” with bookie rather than your own. With the exchange you stake a lower amount, because you don’t need to cover the original bet. Then if you win with the bookie, you’ll lose a bit at the exchange, but not the full amount. If you lose with the bookie, you lost nothing, but you did win at the exchange. Profit either way.
Matched betting just involves doing this over and over again, and taking advantage of the endless free bets that bookies churn out.
No-risk matched betting sounds complicated
I know it sounds that way and it can take a bit of time to get your head around, but thankfully there is a website that helps you through the entire process. I’ve been using Profit Accumulator since the start. They have a free trial that can make you up to £45. If you don’t like it, then you can stop.
But they have videos that talk you through the entire process. They collect up all the free offers for you, so you don’t have to search for them, and they have a calculator that does the smart maths for you. All you need to do is go to the right websites and type the numbers in.
Is it legal?
This is a big concern. People are worried about the implications of doing this. Are they going to get in trouble for doing? The answer is that it is completely legal, but obviously the bookies don’t like it. You are taking their money after all.
For me, I’m not too worried if the bookies don’t like me. They hardly seem like the good guys of the world. If they suspected you of matched betting, then they may close your account or limit the amount of offers that you receive. Although, this may reduce your earning potential from matched betting, it is hardly the end of the world. Plus, there are new bookies with new offers opening up all the time.
Low risk matched betting
Now there are other forms of matched betting that involve using casino offers, which come with a small risk. You have to put some of your money at stake, but occasionally you can get a big pay-out which more than compensates your losses.
Unlike traditional matched betting, where your profits have a steady upwards trajectory, with the slightly riskier casino version your profits can be more volatile. But generally you will see a profit over time. Plus, I know people who have had 5-figure pay out from this.
If you want to get started on this, then the same people that run Profit Accumulator also run a casino focused site, called Bonus Accumulator. With videos and guides to talk you through how to make money from these offers.
Other risks to consider
Unfortunately, we are human. That is the biggest risk when it comes to matched betting. The human error. I have made a couple of mistakes when doing this, however both turned out fine. One I didn’t realise I had made and it worked out in my favour. The second I realised straight away and use the tools available on Profit Accumulator to fix immediately.
Something else to consider is that you will be regularly exposed to gambling sites. If you have a previous negative experience with these services, an addictive personality, or think that you won’t be able to avoid the temptation to actually gamble, then this might not be the side hustle for you. But don’t worry, I’ve got lots of other side hustles that you can try to make money.
The final risk is how it may look on your bank statements if you start applying for mortgages or other loans. Mortgage providers might have some questions if they see multiple payments to bookmakers. The way around this is to either avoid matched betting in the six months before applying, or to open a seperate account for matched betting.
How to start matched betting
If you are convinced, then the best place to start is with Profit Accumulator. You can watch their videos and try it out with two bookie offers for free. If you decide it is not for you, then you can go ahead and access their full range of resources and materials to start making the big bucks.