Not the be all and end all, there is always something new to learn, but if you tick off these 10 rules to matched betting then you'll be well on your way to an extra income from betting. Much better than being a mug punter....................................
1. Only bet money you can afford to lose
This is key. Follow the rules and there's money to be made, but you might make a mistake, or something bad might happen like the bookie going bust. Never bet your last pound on something, that's gambling not betting. |
2. Separate your float from your day to day expenditure
Get an e-wallet like Skrill immediately. Deposit an amount your comfortable not seeing again for a while and do as much of your betting using that account as possible. This will separate your day to day expenditure and have other knock on benefits like cashback on your transactions. |
3. Do your sums
Learn how to do the calculations yourself and don't rely on a spreadsheet or website to do it for you. This will help you identify possible mistakes and potential additional profits which in the long term is going to be better for you than the quick win of a calculator. |
4. Devote some time to it
The more you put in the more you'll get out. This goes for the initial float (making it easier to get some of the bigger sign ups done immediately) as well as your time. It will take time to find the right odds, and time to review the T&Cs for the offers, but it's worth it for the hourly rate that's possible. |
5. Find someone that's done it before
Matched betting is a difficult subject to broach with the uninitiated, but there are plenty of people out there for whom this is a profitable side line or even career choice. MSE can help with the basics, but they only allow risk free discussions, in addition they don't have a review of all the online bookmakers. Try Profit Accumulator. The reviews are useful, most of the forum is free and it's all friendly. |
6. Learn the terminology
Check out a betting dictionary. It's like a whole new language. Anyone would think the bookmakers don't want you to know what they're doing! That said, there's also a lot of terms for the would be matched better and knowing them can really help to maximise your profits. |
7. Don't trust a tipster
A wise man once said, if a tipster new which horse was going to win in every race, or who would win a football match, they'd be so rich they'd have no need to sell tips. If it's too good to be true then it is. Matched betting doesn't fall under that bracket, it's about statistical certainty you can calculate yourself, not a magical horse picking system. Do matched betting correctly, and you don't care what the result is, you'll have both sides of the equation. |
8. If you haven't heard of a bookmaker find someone that has
If you're new to this it'll probably take you a few weeks to run through all of the highstreet bookmakers, then another couple of weeks to go through each of the ones associated with a premier league football team. From there you're looking a bit more into the unknown, there are hundreds out there and not all of them are reputable. Use a review site with forum to find unbiased reviews. Anything else is just taking unnecessary risks with your hard earned (or won) money. |
9. Know when to quit
Along with bookmaker sign up offers there are also some casino bonus offers out there as well. The majority of these are more than likely going to lose you money, but there are some, such as the William Hill risk free offers, which have potential to make you money. If you're playing casino games always know when to quit, just because the spin came up red doesn't mean the next one's black. Place a specific amount of money into the casino, in full knowledge that the variance could wipe it out, and be happy to walk away regardless of what you have left after the wagering is done (whether that's up or down). |
10. Don't expect overnight success
Be sensible and you can, and will, earn some extra money. It's not going to let you retire, but it'll be a useful amount so think of it as a hobby that pays you. I'm not going to give you a figure here, but just check out the bonus information for Ladbokes. That's just one site, and there are hundreds more bookmakers. And when the sign up offers are done there are plenty of reloads and other enhancements that can keep the money rolling in. |
If you're happy with the rules, have a read of some of the common matched betting mistakes now.