How I Discovered Matched Betting and How it Works: A Guide to Matched Betting
I first heard about matched betting from a friend on Facebook.
He posted about how he’d been making extra money online doing matched betting and was earning around a thousand pounds, or so, a month using a service called Profit Accumulator.
My first thought was one of apprehension. “Betting”? That’s a mug’s game isn’t it? How can someone consistently succeed when the bookies deliberately set the odds in their favour to make a profit.
I remember thinking this was probably another charlatan scam.
Another get rich quick scheme that was bound to end in disappointment!
I still remember vividly Googling “matched betting” . I’d never heard of it. I hardly ever bet. When I had bet before, I’d lost miserably and basically urinated my money up the wall and beat myself up about it later!
The Google result brought this Guardian article up which covers what it’s about.
I read it and was quite surprised as it was obviously legit. I mean, I don’t read the Guardian, but it seemed very unlikely they’d allow someone to post a scam in their newspaper. This would be against their journalism code of conduct for one.
Is Matched Betting Gambling?
The problem with the word “matched betting” is people see the word “betting” and immediately think of gambling.
The big difference is that standard betting carries with it an element of risk.
It’s a gamble, and that’s why it’s not a good way to make money.
Matched betting is different as you use the free bets that bookies hand out to new customers and to customers they want repeat custom from.
With those free bets you use them to place a “back bet” (a bet on something winning), whilst at the same time you place a “lay bet” (a bet on something losing) on that same thing you are betting on.
As you are using the free bet that the bookie has given you, you cannot lose. If the thing you have bet on wins, you make a profit. If that same thing loses, you make a profit.
Here’s a step by step guide how it works:-
Step-by-step Guide to Matched Betting:
1. A bookie offers you a £10 free bet to sign up to their online bookmakers.
2. You go to the website and sign up. Bingo you’ve got a £10 free bet.
3. You place that £10 free bet on a horse race. You place it on an imaginary horse I’ve made up, Rolo, who is 3/1 to win the race. You place a “back bet” on him to win.
4. At the same time you go to an exchange like Betfair and put a “lay bet” on Rolo to lose costing you £10, which would also have its own odds.
5. The race takes place. Rolo wins! You’ve just won your £10 free bet back plus your winnings at 3/1 on top. You’re in profit!
6. Alternatively, Rolo loses. Damn you’ve just lost your £10 free bet. But … your lay bet at Befair (the exchange) has won because Rolo lost. Great – you’re in profit as your “lay bet” has come off and you haven’t lost any money as the £10 bet for Rolo to win (which you lost) was a free bet.
Essentially matched betting is just a method of turning those free promotion bets into ready cash you can withdraw.
Without the matched betting process, yes, you might get a free bet from the bookie to sign you up but you have to bet on something to actually have any chance of seeing any of that money.
Matched betting is the process of turning that free bet into money you can withdraw without having to gamble first. It’s actually a very simple process when you think about it.
Do you Need to Know About Betting to do Matched Betting?
The short answer is no you don’t. Bar a few simple bets on the football from time to time, I hardly knew anything about betting before I learnt matched betting.
Like most things these days, there are guides and businesses out there devoting their time to assist you.
And that’s where Profit Accumulator comes in. They provide a service where their team find all the bookies’ offers for you and provide complete guides, including training videos, on how to profit from each offer that the bookie hands you.
They also provide a number of handy tools such as matched betting calculators, an application to track your profits and odds matching software to help you find the best odds, so you can maximise your profits.
They provide full online support and have a forum with a massive online community with a wealth of knowledge.
Is Profit Accumulator Legit or is Profit Accumulator a Scam?
Profit Accumulator is definitely legit and if you’re asking the question “does Profit Accumulator work?”, then I can say, yes, it definitely does as it’s simply based on the matched betting process and looks to guide you through it with easy guides.
Profit Accumulator is actually a very innovative company and there is no wonder they have a 5 star rating on Trust Pilot. They are one of those companies like Uber that make you think, “damn”, why didn’t I think of that.
It even has a 5 start Trustpilot rating.
I think it’s easy to fall into a trap with Profit Accumulator when you hear people like me say they made £3000 in a few months with it.
I totally get that and I felt the same when I first heard about it!
It sounded way too good to be true!
But then I realised that it’s actually quite straight forward when you put your mind to it – it’s just simple maths.
Is Matched Betting Legal?
Match betting is completely legal! I work in the legal industry in my day job and my code of conduct requires me to uphold the law and to not do anything to bring the profession into disrepute.
Essentially, I can be debarred from practising for doing anything illegal or even immoral or unethical.
It would therefore be immeasurably stupid of me to promote scams on my own website.
Profit Maximiser vs Profit Accumulator
There are a couple of competitors to Profit Accumulator like “Profit Maximiser” but in my experience Profit Accumulator is miles ahead of its competition and is definitely the best matched betting site I have used.
How Much Does Profit Accumulator Cost?
Profit Accumulator offer a free trial which provides you with a few intro bets to help get you started. You’ll earn up to £45 with these intro offers.
Essentially you have nothing to lose, only gain, and by the time you’ve completed the free offers, you’ll realise how easy it is and you’ll be begging for more.
That’s how it went down with me anyway!
After the free trial (when you’re already around £45 up) you can then become a platinum member which opens up 100+ other bookie offers with “easy follow guides” to complete each one.
You just made £45 or so with the first two intro offers, so imagine the earnings potential of completing 100+ offers!
The platinum member ship is £19 per month at the time of writing this.
You might think to yourself – can I really afford £19 a month for this?
Well, you’ll make at least a £1000+ just with the initial offers, which you can probably do in a couple of months at a reasonable pace.
Therefore you’re paying £19 for a couple of months to earn £1000+
It’s a complete no brainer really unless you don’t like money!
You can also pay £150 for a yearly membership.
My recommendation is to go for this if you can afford it as matched betting will easily keep you occupied for a year and there are many members who have been doing it for 5 years+.
If you go yearly, you’ll be effectively paying £12.50 a month, rather than £19pm, which will save you £78 over the year compared to if you pay monthly.
If you do go for the monthly sign up, and after the initial offers are complete you’ve had enough, then you can just cancel your membership at any time.
It’s almost impossible to not be in profit unless you don’t do the offers.
How Much Money do you Need to Start Matched Betting?
You can start matched betting with very little money, although it is probably better to have around £50 – £200 available so you can do the first introductory offers a bit quicker.
But don’t worry, you’re not going to lose anything as this is not gambling. As you “lay off” the bet as well as “back” the bet you have both outcomes covered. You’ll learn about this more when you watch the training videos.
As above, the introductory Profit Accumulator sign up is free and you earn up to £45 just doing the intro offers.
How I Made £5000 in 3 Months
The first thing I did was read the videos and written guides on the Profit Accumulator website. It probably took me a couple of hours to get my head around how it works but as soon as I did, I just got stuck in.
I wanted to earn extra money so I just went for it.
A above, Profit Accumulator offer a free trial where you make up to £45 straight away. It basically offers you an introduction into matched betting and provides a few offers to get stuck in to.
I remember joining Profit Accumulator one afternoon and by the evening, I had made money and got really quite excited.
After I did the first introductory offers, I knew the method worked so I just signed up to a premium Profit Accumulator account straight away which was about £15 month when I joined. It didn’t really bother me as I had earned around £45 that day already.
When you join up to the premium account, it opens up tonnes of other offers with guidance for each one.
I slowly went through each offer committing about 2 hours per day. I couldn’t believe how easy it was to make money with hardly any effort. This is why it’s at the top of my top 10 ways to earn money.
By around the second month I had worked my way through most of the introductory sign up sports bet offers (i.e. offers on things like football and horse racing) and had made about £2000. I then started on the casino offers.
Again I used Profit Accumulator to show me these offers. Casino offers are the ones the bookies give you to use in their online casino sections on slots, roulette, black jack and things like that.
I remember Sky bet were offering free spins on a slot as part of their introductory offer at the time and, after a few unproductive spins, I struck the jackpot and won £2000. About 4 weeks later I did the same using free spins provided by Bet Victor and won £1000.
As you can see, my matched betting monthly profit was well over £1000.
The best thing about making this money was that it was tax free under UK law. All the money you make through matched betting is tax free.
Using Profit Accumulator is exclusively a method of making money in the UK as it is a UK company and uses the UK’s bookmakers. However, I don’t see why the principle of matched betting wouldn’t work in other countries.
How Much Can You Make Matched Betting?
If you go on the Profit Accumulator forums, which can be accessed when you sign up, you will see that there are various groups like the £10,000 club, the £50,000 club and even the £100,000 club.
Basically this is where people share within the matched betting community the level of earnings they’ve made since they started.
I mean, £100k through matched betting!! That is ridiculous and is probably a massive slice out of most people’s mortgages. And there’s actually a fair few who have reached this level as well!
To get to those levels (even £10,000) it will take some time but I made £5000 within 3 months so getting to £10,000 is probably realistic within a year or so.
Allocate a specific part of your week to matched betting. That could be an hour when you get in from work or 30 minutes when the kids have gone to bed. My strategy was to match bet in the morning after a good night’s sleep when my brain was at its sharpest.
Matched Betting Long Term
So, is matched betting sustainable?
There are about 70 bookies across the UK, most of which provide introductory offers of some kind. After I had done most of the introductory offers that Profit Accumulator had shown me, things did slow down slightly, but I carried on making money through “reload offers“.
Reload offers are the offers that bookies give out to retain customers. There are plenty of them too.
Profit Accumulator continue to provide you with details of these reload offers while you’re a member. One of the best things is that they have complete guides on how to keep making money each month using reload offers even after you have used the introductory offers.
They provide a guide for you to consistently make £300 a month and one to make £1000 a month. Obviously it does take more time if you want to make £1000 a month but ultimately it’s up to you. You get out what you put in as the saying goes.
Can You Make a Full Time Living Matched Betting?
It is possible to make a full time living matched betting but you do need to be dedicated.
It’s not a side hustle where you could work on it 2 days a week and make a full time income.
I have seen first hand on Profit Accumulator’s forums that people do make a living from it but the impression I get is they work full time.
One way of making a lot more money with matched betting is to open up multiple accounts with the same bookmaker.
This means you can run their offers twice or more depending on how many accounts you have set up with them.
Bookies do not usually allow multiple accounts so you will need to convince a friend or family member to let you manage their account for them.
Many bookies only allow one account per household so if you do manage someone else’s account, make sure they live at a different address.
Word of warning – if you get caught running multiple accounts, in most instances, you can say good bye to your bookmaker account!
My Top Tips for Matched Betting
I am the sort of person who likes to not only know that something works, but also why it works. Whilst I find this attitude does assist me from time to time, I would try and not get too hung up on why matched betting works as you will pick this up as time goes on.
If you think too much about it, it ultimately slows you down. Profit Accumulator have done a great job in ensuring you don’t need to think that much about why it works, as their guidance is in plain English and there’s plenty of support in case you do get stuck. So be cautious but not over cautious.
My tip is to just get stuck in. There is a temptation to want to think about whether you should do it or not and whether it works. I can guarantee you it does work. That’s why Profit Accumulator have the rating they do on Trust Pilot and why they are one of the best matched betting tools available.
That’s why they have thousands of happy customers who have all made money.
That’s why there are hundreds of people making a full time living from matched betting and even more who just use it to earn money as a side earner.
FAQ’s About Matched Betting
Can matched betting go wrong and can you lose?
There is scope to make mistakes when matched betting but if you take your time and follow the guides Profit Accumulator give you, it is fairly hard to mess up.
Some common mistakes in matched betting include inputting the the wrong odds or stake into the matched betting calculator which can mean your profit is affected.
Another is forgetting to lay the bet off in time which can happen if you don’t get your lay bet on before, say, the horse racing you’re betting on starts.
Other mistakes can include doing things to give the game away so the bookie knows you are matched betting and aren’t a regular punter.
Whilst matched betting is not illegal, bookies are in the game to make money and they take exception to people playing the system (which most of them consider matched betting is).
If you make it obvious that you’re matched betting by always playing for bonuses or betting on horses with certain odds to maximise your profits for example, it can look suspicious and can lead to your account getting “gubbed”. This just means the bookie cancels your account and suspends any bets you’ve placed.
I have been matched betting for around 6 years now and I have only lost around £50 or thereabouts, mainly from inputting the wrong figures into the matched betting calculator. I have made thousands of pounds over the years so losing £50 isn’t even worth thinking about.
As above, matched betting is not gambling so provided you follow the guides Profit Accumulator provide, you cannot really lose.
Does matched betting affect your credit score?
Your credit score is based on the health of your credit/bank accounts and not on the types of transactions you make, so matched betting shouldn’t affect your credit score at all.
It will only do so if you borrow money from your bank or use your credit card to do matched betting and fail to pay it off.
However, it’s important to mention that matched betting is generally risk free. As long you don’t make the mistakes mentioned above (which are hard to make), you’re always going to be in profit. It is not gambling and does not have the risks associated with it where you can lose all your money.
Can you do matched betting on a mobile phone?
You can do matched betting your phone and pretty much all bookies have a mobile app.
However, it is much easier if you have a desktop or laptop computer. Even a tablet like an iPad will do.
I match bet on my desktop computer because the big screen makes it easier to navigate around the bookies and around the pages on the Profit Accumulator pages.
Can you do matched betting for someone else?
Yes, you can do matched betting for someone else provided you have their permission.
However, bear in mind that most bookies only allow one account per household so the other person usually has to have a different address to the one registered to your bookie account.
Can you do matched betting abroad?
You can do matched betting approach but a lot bookies track your IP (which is the unique code your computer is assigned when on the internet).
Bookies do this as most of them are restricted by geography. In other words most of the UK ones only allow UK customers. This means if you try and sign up or use your account in, say, Spain, you may not be able to use it.
To get around this you can use a VPN (virtual private network) which allows you to connect to a computer in the UK so to the bookie it looks like you’re logging in or using your account in the UK and not whichever foreign country you might be in at the time.
Does matched betting affect Universal Credit or other benefits?
Most benefits in the UK are means assessed which means the amount you receive depends on your income or the savings you have. If you have too much income or too much in your savings account, this can mean you are not eligible at all.
You usually have to declare your income and savings when you apply for benefits which means any money you have made matched betting will usually need to be included.
So, in short, the answer is yes, matched betting can affect your benefits if the money you make or have saved takes you over the income or savings threshold for the benefit you’re applying for.
You can check the means test for Universal Credit here.
Does match betting still work in 2021?
It certainly does!
Matched betting isn’t going away any time soon. Bookies are competing against each other and need to offer promotions to attract new customers, which includes free bets.
Whilst ever bookies hand out free bets, matched betting will be a thing!
Is matched betting dangerous?
This is a bit of an open question with a wide range of answers and much depends on what you mean by dangerous.
I think it’s best to deal with this as follows:-
- It’s perfectly legal so you cannot be arrested or charged with any crime
- It’s not gambling so the risk of addiction and losing your money is low
- It’s fairly straight forward and the guides Profit Accumulator provide are easy to follow so the chances of messing up are low.
In summary, I don’t think matched betting is dangerous at all.