Some of the links in this post are affiliate links. This means that if you click on them and make a purchase I may receive a small amount of money at no additional cost to you.
After an expensive couple of weeks, I’ve discovered a renewed motivation to get my side hustle on. Therefore, I’m really excited that it is time for another edition of my Side Hustling series. This week we hear from another fellow blogger talking about one of my favourite side hustles – matched betting. I need to get back to this one!
My name is Grainne aka WannaBeDebtFree (which is a bit easier to pronounce, to be fair!). I started my blog last year when my partner and I decided to pay off our £16k debt in one year because we were sick of the stress of being in debt. In July this year, we officially became debt free and are now saving for the future; an investment property, our wedding, and just to have something to fall back on. These days, my blog is all about how to make and save money, and I also am pretty active on my Instagram page as part of the #debtfreecommunity, where I share my journey towards financial freedom and other aspect of my life, like our plans, health and wedding.
Matched betting! I absolutely love my side hustle; the money is great, it’s an easy earner and I actually find it fun. The process is quite complex, but in a nutshell, matched betting involves turning free bets into cash, without the risk of gambling (it’s completely legal also). For every bet placed, you place the exact opposite bet, so all bases are covered. When the bet placed has been placed with a free bet, this is where you make money. There are several different offer types out there, and I’m fairly new to the game, so I’m having fun learning as I go. It amazes me how people have come up with the methods we use as matched bettors- they are geniuses!
We were trying to pay off our debt with our disposable income but also had a holiday to Thailand coming up. Not wanting to pause our debt snowball, I was looking for ways to make money that suited our circumstances. When I started, I really enjoyed it and now that our holiday is over, I kept at it. I’ve now reduced my working hours and this helps to subsidise the shortfall.
Between one and two hours per week. I used to spend a lot more time on it; watching the events I’d bet on and getting into it. But now I really restrict my time; I pencil it on on Saturday morning, work through as many offers as I can, log them on my spreadsheet and I’m done.
I’ve made about £5,000 since starting in January this year. You can make a lot as a newbie because many bookies offer sign up offers. My earnings really lagged after the World Cup; I became accustomed to sign up offers and ones that bookies had emailed to me, and at that point, it was really quiet. Since then, I’ve had to learn new strategies to keep making long term profits.
The money I’ve made is totally tax free too, which is another added bonus.
Making £5,000! I didn’t expect it to be so profitable starting out, in fact I thought it sounded a bit too good to be true until I figured it out. It was great when we finally had the money in the bank to go to Thailand, I felt really proud that I’d learned a new skill that enabled it. Because of the nature of the process, you pretty much know how much you’ll make as you go, so there are no real surprises or highlights, day to day. However, I once won £175 but punting a bet because I was at a friend’s house and couldn’t follow the usual process (where I would have made £25-£30 following matched betting guidelines). I thought I was rich that night!
Learning the process itself! It’s quite easy once you know what to do, but it’s really hard to get your head around in the beginning. A lot of my Instagram followers contact me about starting and a lot of them don’t continue because getting over that initial hurdle is so off-putting. And I must say, placing the bets can be nerve-wracking at times too, which is what I would say to anyone thinking it sounds too good to be true; it can be stressful at times.
Go for it! Watch the online tutorials, get comfortable with it, and ask for help if you need it. As easy and profitable side hustles go, this is an excellent choice. But I would also say, if you find it too stressful then don’t sacrifice your mental health for it!
For newbies, it’s easy to make £1-2k doing the sign ups and then stopping. If you want to make long term profits, you need to learn new strategies. But there are always ways to make a decent income from it, and the site I subscribe to is always coming up with new ways to make profits, on top of hundreds of existing offers. While I don’t know how it will look in a decade, there is a lot of money to be made in it right now.
My blog is www.wannabedebtfreeuk.com and I’m always on Instagram, you can find me @wannabedebtfree! Come find me and say hi!
I love hearing about how people have made LOADS of money from matched betting. It really it is great side hustle and you can make thousands from it. Profit Accumulator helped me get started and is full of videos to guide you through. Thank you, Grainne! An excellent interview and make sure you check out her debt free journey.
Disclaimer: Remember the information you read here does not represent advice. Any ideas or suggestions are just that and may not work for you. Read the full disclaimer here.
Looking After Your Pennies is an eco-friendly personal finance blog written and managed by Charlotte Jessop.
I write on a variety of topics including frugal lifestyle, eco-friendly living, money making ideas and generally how to make your money go further.
Get all the eco-friendly personal finance tips straight to your inbox.
You have successfully joined our subscriber list.