What is Matched Betting?
Matched betting is a risk free way to take advantage of bookies’ free bet offers to make some easy, tax free cash for residents of the United Kingdom. This Profit Accumulator review will show you how it’s done and what tools are used. Matched betting is not a scam! Now this may sound too good to be true but it really isn’t, profits made from gambling in the UK are not taxed and there are hundreds of offers to take advantage of from a wide range of different bookies. There are people that make upwards of a few thousand pounds each month tax free through matched betting and it’s so easy you’ll have wished you started sooner!
Many people are sceptical of the idea of matched betting and think it seems too good to be true, which is understandable but once you read into it a bit more you’ll understand it isn’t, it’s just a great way to make some extra money. Now, I emphasise that this is completely risk free if done correctly, and completely legal too! It will also have no effect on your credit score, which is what worries some people.
How Does Matched Betting Work?
You may recall seeing an advert for a sports betting site every now and then when Googling and a lot of them say something like ‘Bet £10 and get a £30 Free Bet’ or something along those lines. Below is what Coral’s website shows you when you land on it.
What matched betting is about is taking advantage of those free bet offers by putting yourself in a position where you can’t lose the bet. This is done using one of the many betting exchanges you can find online, my favourite is Smarkets but Betfair is good also. What you can do on a betting exchange is bet against a certain result rather than just for it like with a normal bookie like Bet365 or Coral. Let me demonstrate using a simple example. Say England are playing against Spain and you are betting on the result, it can only end as a win, loss or draw for each team, right? So to guarantee that you don’t lose your stake when you bet, you would lay (the term used for betting against a result) the result you placed a bet for on the bookie site. If you had an account on Coral and you bet for Spain to win, on Smarkets you would lay Spain to win (betting against a win for them). This means you win whatever outcome it is. So if Spain win then you win money with Coral and lose with Smarkets and vice versa. Because of the way the odds are and commission charged by the exchange you rarely make back the entire amount, you may lose a tiny percentage of the stake, but that is the extent of your loss but what this does is unlock the free bet for you.
Now I will show you a real example of how I took advantage of an offer with Bet365 using Smarkets to lay the bets. The offer from Bet365 was that when you sign up they will credit you with a 100% bonus of up to £200 so I deposited £200 taking the total to £400 after I got my bonus as you can see in the screenshots below.
After I got the bonus I had to place some bets, so I bet £70 for Stirling Albion to draw with East Fife on Bet365 at odds of 4.2 and layed the draw on Smarkets to win £73.87 (I had £221.61 in liability to pay if the Smarkets bet lost) before commission.
So whatever the result I will either end up with an extra £224 in the Bet365 account or I would win £72.39 in Smarkets (after the 2% commission fee). The Smarkets bet is the one that won.
Matched betting is essentially moving money around between betting companies to free up offers and then move the ‘free money’ offers into your betting exchange account. When matched betting, it is best to try and have the exchange account win as it can cut down time and saves you money (you lose a few percent on each bet generally so you want to do as few as possible) on offers if there is a certain amount of rollover you have to do before freeing the funds. After these bets I placed a few more and before I knew it I had made about £180 from the initial £200 bonus. In my above bets I was using a fair bit of money as liability but you don’t always have to use that much. The more the use, generally the more you will make, as you can make bets with higher odds which free up more of cash in the free bets. When I started out I was using just £25 in the beginning and I turned it into over £1500 in a few months, who wouldn’t be jumping at an opportunity to do that. How much you make is dependent on how much time and effort you put into this but it is possible to make £1000+ per month with just an hour or two a day.
You may be thinking can I ever lose money doing this, you can but only through not being careful and making sure the bets are lined up correctly and the amounts are correct etc. If done correctly, this is risk free and is always completely legal.
Profit Accumulator Review
In order to do matched betting you need to somehow find all the offers and work out how much to bet to make sure you win the same amount in the exchange as you would in the bookie and many other complicated problems. Profit Accumulator solves all of these problems and more that you haven’t even thought of! I’ve been a member with Profit Accumulator since September 2015 and I honestly have no complaints about it. Any problem you have with matched betting you can get an answer on the forum, either someone else has asked or you can start a new threat and ask people about it.
To help streamline the matched betting process, Profit Accumulator provides an offers list all of the free bets and bonuses divided up into beginner, advanced, reload offers (which are offers that bookies have to keep customers interested and it keeps the money flowing for matched bettors) and a few others. In each offer it will also outline any terms and conditions and dos and don’ts specific to that bet to make sure you are free of all risk. Once you find an offer you like you will need to find the event you want to bet on and the odds of both the bookie and the exchange. To do this, you go to the Oddsmatching software and look for an event that has your bookie listed. Once you find it you open up the calculator and put in the odds for your exchange, the amount you are betting and what type of bet it is. Selecting whether it is a free bet or a qualifier is very important as it will change the amount you need to lay so make sure you remember to check it. Once all that is done the calculator will tell you how much you need to lay which is calculated on the size of your back bet. It will also show your profit at the bottom so you know exactly how much you will make.
That is all there is to placing a simple matched bet. Profit Accumulator does offer tools to help you place accumulator matched bets too with their new Acca Catcher tool, this will require some more training though.
To help make sure you smoothly place your bets there are video walk-throughs for the first few (and an entire training library of 16 videos) to help you get into the swing of it and they really help walk you through the entire process, they’re a brilliant resource provided by Profit Accumulator. As I mentioned before the forum is there to help with any problems and also to celebrate your milestones like joining the £50K club. One thing I will recommend you do when you start matched betting is creating a spreadsheet to keep track of all of your money and bets. Here is what mine looks like:
You can add in a notes section to write in any open bets and make it very easy to keep track of your money, which is very important.
All you need is some time and a small amount of money to get started and possibly make £1000+ per month tax free and risk free. It all depends on how much time and effort you put in. The Profit Accumulator subscription is £22.99 per month which you will more than make back on your first two bets. There really is no reason not to try it! I cannot recommend it enough, it is a great service provided at a brilliant price. I hope this Profit Accumulator review made you want to start earning a side income, click the button below to sign up now and start making some extra money!