How much money can you make matched betting?
When introduced to matched betting, and the realisation that you can make guaranteed profits every single week, the single most common question is:
“How much money can I make with matched betting?”
A sensible question to ask, before you decide if it’s worth investing your time and money.
You can make a realistic £500+ a month (sometimes much more).
Without even leaving the house, spending around 10 hours a week you could make enough money to potentially cover your rent or mortgage.
However, its important to understand there are several factors that determine how much money you can make matched betting each month.
The more time and effort you put into something the better results you are going to see.
At the same time, the amount of time you are willing to dedicate, does not solely correlate to how much money you can make matched betting.
Lets take a look at how much money you can expect to make, including an estimated earnings per hour, depending on the type of promotion on offer.
One time Profit: £800+
Hourly Rate: £30+
The most obvious way to make money with matched betting is with the welcome offers.
With welcome offers alone, there is no reason why you can’t make over £800 in your first month.
There are well over £1,000 worth of free bets in the market. With a basic matched betting strategy, extracting 80% cash from these bets gets you to this target with minimal effort.
Right now, welcome offers in the online gambling sector are more generous than ever. With the majority of bookmakers, you can make £15 to £20 profit per welcome offer.
Assuming you have an oddsmonkey premium account, the welcome offer itself can be complete in less than 10 minutes.
The signing up process takes the most amount of time, when cashing in on these welcome offers.
To stay organised and save time, make sure to check out the getting started check list .
Once you’re organised, including the sign-up process, making £15+ with a welcome offer will take around 30 minutes of your time.
That’s a return of around £30 per hour.
A great hourly return I’m sure you’ll agree.
If that wasn’t attractive enough, all the income is completely tax-free and there are no petrol or bus fares to pay for.
You’ll be pleased to know, matched betting doesn’t stop once the welcome offers are complete.
In fact quite the opposite. Consistent weekly promotions, available to existing customers, is where the long term matched betting profits are made.
Existing customer offers
So how much can you make matched betting now that the welcome offers are finished?
A realistic number, on average, over a calendar year, would be around £500 a month.
You can see in the image below. Using the Oddsmonkey profit tracker, I made £6,008 profit over the year. ( averaging £500 a month)
This was all done in my spare time, along with working a regular 9-5 job.
An average, of around 30 hours a month spent matched betting.
That would make the hourly rate £16.70 an hour. Not bad at all, tax free, working from home.
Personally I only complete quick and easy offers that offer a good return for the time spent. £10 per hour is a good target.
If you have the time and desire, you could make considerably more money than £500 per month.
It goes without saying, that the number of offers that you complete, will impact how much you can make from matched betting each month. But be cautious as some offers just aren’t worth your time.
Here’s a break down of popular matched betting offers, and how much money you can expect to earn doing them:
Monthly Profit: £200
Hourly rate: £12.50+
A great way to make a guaranteed income every week is with the bookmakers that offer weekly Loyalty promotions. These promotions are so simple and you can often unlock the bonuses without making any additional effort.
There are a few variations of these:
“Bet £25 from Monday – Sunday, receive a £5 free bet the following week”
“Place 5 x £10 bets and receive a free £10 bet”
All essentially fighting for your weekly custom.
By completing regular matched betting promotions throughout the week you will often find yourself unlocking this additional bonus without even trying.
These weekly offers vary in difficulty from bookie to bookie, but in general are good income generators, especially considering the time spent.
At the time of writing (November 2020) there is a guaranteed £50 profit to be made every week completing these offers.
If you’re using matched betting software like Oddsmonkey completing all of these offers shouldn’t take longer than 4 hours a week.
Bet and Get
Average monthly profit: £175
Hourly Rate: £20+
These types of offers are a matched bettors dream. Easy, simple and quick profits.
However, these promotions are often seasonal, around sporting events with a lot of media attention and customer interest.
As mentioned earlier, how much you can earn matched betting, depends on the number of offers available.
Months with big sporting events like Cheltenham horse racing festival or the FIFA World Cup will see a huge up lift in these types of offers as bookies jump on the media bandwagon.
Any time bookmakers are fighting with each other for our custom is a great opportunity to make some quick profits.
Example of these offers are
“Bet £10 on the England game and receive a £5 free bet”
“Bet £10 on the first race and receive a £10 free bet on the next race”
These offers are so simple, and take no more than 10 minutes to complete. You should do your best to make the most of these super easy money making offers.
Over the calendar year the amount of profit you can make each month from matched betting offers, like these fluctuates drastically.
Bet and Get – “If”
Average monthly profit: £75
Hourly Rate: £10+
These types of offers have seen a rise in popularity over the past months.
Whilst they are not as good as the standard “Bet & Get” there is still a significant amount of money to be made completing them.
The difference is, these offers are not always guaranteed profit. This is because to receive the free bet a particular outcome has to occur.
Examples of “Bet & Get If” offers:
“Bet £10 and get a £10 free bet IF your horse finishes second”
“Bet £10 and get a £10 free bet IF Player X scores”
How much money you can make with these offers depends on a little bit of luck. But there are ways that you can lock in smaller profits with these offers.
I would advise that you’re a bit more selective on which “Bet and Get – IF” offers you spend your time completing. Not all of them will return goof profits.
This is where some sporting knowledge might come in handy. Money back if a goal is scored in the 90th minute is less likely to happen than Money back if Ronaldo scores at any time. You may find yourself constantly qualifying for these types of promotions but receiving no free bets.
If that’s the case, pause and revaluate if these offers are worth your time.
The oddsmonkey daily offer calendar is a brilliant resource that helps show the expected profit per offer.
Whilst some matched betters might avoid these offers, because there is an element of luck involved. In some instances we can remove the need for luck and lock in a profit each and every time.
Here’s a great example of a “Bet & Get IF” offer, that can be used to guarantee profit:
“Bet £10 on Liverpool against Arsenal, and receive a £5 free bet for every goal scored in the game”
With this offer, how much money you can make depends on the number of goals scored in match. If there are no goals scored, then we receive no free bets and therefore make no money, right?
That’s right, the offer itself will not make us any money, but we can still make money.
For us to receive no free bets, there needs to be no goals, meaning that the final score would have to be 0-0.
The odds for the final score to be 0-0 in any game is normally at least 10/1
We can therefore place just a £1 bet on the final score to be 0-0 and find ourselves in profit.
If the game finishes 0-0 we win £10+ from our bet. And if there are any goals in the game we will receive at least a £5 free bet, which we can then turn 80% into withdrawable cash.
The worst case scenario would be 1-0. We lose the £1 bet and only receive £5 free bet (£4 cash).
With experience you will quickly learn, which offers are worth your time, and which look good, but show no or little returns.
Average monthly profit: £50
Hourly Rate: £30+
Taking advantage of enhanced odds is probably the quickest way to make some fast easy money.
Unfortunately, the bookmakers know this, and have restricted the amount of money we are able to bet on them.
(Max Bet £10) is usually shown next to the enhanced odds.
When answering the question:
How much can you make matched betting? Particularly with enhanced odds, really depends on your preference and risk tolerance.
There are 2 ways to complete these offers:
1. Guarantee small profits consistently each week.
2. Have a bit of fun and potentially make a medium to large sized profit. Risk-free of course.
Here is an example of the same offer, but with the amount of profit to be made, considerably different.
A standard enhanced offer at the weekend from one of our favourite bookmakers. “The Price Boost”
Switching the matched betting calculator to advanced mode, we now have 3 different options. All of which will make us profit.
Underlay, Standard and Overlay.
The Standard option is the same as easy mode. It has calculated the perfect amount to lay, so that you make the same amount of profit no matter the outcome of the event. This is Matched betting 101. The ability to make a profit, regardless of the outcome is what attracts the masses to start matched betting in the first place.
But sometimes, there is a better way. And certainly a more interesting way to make money with these types of offers.
I see no advantages in Overlaying. The maximum profit to be made is only slightly higher than the guaranteed profit using the standard method. And there’s a chance of making no money at all.
However using the Underlaying option looks attractive
Underlaying, is a technique I myself like to use. It’s my way of gambling, without risking any money.
It’s a very simple concept.
Rather than guaranteeing a small profit, the calculator highlights an alternative method, so that if the back bet does win, they I win considerably more money.
This method is not for everybody, but as you can see in the calculator, It is a risk free way of potentially making a sizeable profit.
A word of warning, and some advice that you should not ignore, especially when it comes to making money from enhanced odds:
Make sure that you mug bet.
What I mean by this, is don’t just use a bookmaker for their enhanced odds promotions.
If you log in every weekend and put £10 on the enhanced odds and nothing else, you will have your account restricted in no time at all.
You need to make the bookmaker think you are a regular customer. If you’re unfamiliar with why, you can read more about that here.
The amount of money you will make will fluctuate using the Underlaying method, whilst consistent using the standard method.
Over the long run, how much money you can make with both systems is likely to be similar.
The 4 methods above are your bread and butter, money-making strategies. After matched betting for a week, you will be able to complete them with your eyes closed.
If you’ve done the maths, you’ll notice that these offers combined put us at the £500 a month target.
The following matched betting strategies are slightly more advanced. Unless you are maths genius, they are extremely difficult to complete without an Oddsmonkey premium account.
However, if you’re looking to increase how much you can make matched betting every month, then they’re certainly worth doing.
Extra Place Offers
Average monthly profit: £100
Hourly Rate: £12+
To stay competitive, bookmakers will regularly run promotions offering “Extra places” on selected races.
Instead of paying 4 places, they might pay 5, 6 or even 7 places.
If you are unsure how each way bets works, and how places are paid then check out the article here.
Its important to note that these extra place offers are not a guaranteed way to make money. But the risk to reward ratio can be huge.
On the surface, making money from extra places is relatively simple.
If our horse finishes in the extra place, then we’re in the money.
Matched betting at its core, is all about making money from bookmakers promotions and offers. With regular matched betting offers, the goal is to pay out less on the exchange than the bookmaker pays us.
Extra place offers, with a bit of luck, we can get paid by the bookmaker, without paying any money on the exchange.
Please be selective when completing these offers. Not every race offering extra places is worth completing. If there isn’t a horse that doesn’t fit your criteria, then don’t try to force it. Wait for a race that is more suitable.
The Oddsmonkey Extra Place Matcher tool is an absolute must have if you would like to try this advanced matched betting strategy. As well as a calculation, highlighting the lay stake for both the win and each way market. You can find optimal horses for all the days extra place offers in a matter of seconds.
How much money can you make with extra place offers? This depends on luck as well as time spent completing them.
Some extra place winners can bring home over £100 profit, most around the £20 mark.
If you are patient, and only complete these promotions when good value opportunities present themselves, you will complete around 1 a day. (More during popular racing festivals)
The potential hourly return on these types of matched betting offers is huge. They’re attractive because you can often make £50+ profit when it goes your way.
However the realised hourly return isn’t as attractive, when you consider the number of attempts that not only showed no return, but a negative one.
Matched Betting Accumulators
Average monthly profit: £200
Hourly Rate: £5+
Here is a disclaimer right from the start,
when it comes to completing Accumulator offers:
I’ve successfully completed this type of offer once, and don’t plan on doing it again. Don’t let me put you off experimenting with accumulator offers, there are thousands of people making money from these offers every week.
Here’s how they work, and why I personally stay away from them:
“If one team lets you down, we’ll give you your money back as a free bet”
Just like the Extra Place offers, you have 2 options if you’re looking to make money from these types of promotions:
Option 1: Be a Maths genius and spend hours calculating the odds and lay amount.
Option 2: Follow the step by step instructions on the accumulator tools, that come standard with the premium membership.
My issue with the accumulator offers is that they require my free time after the bet has been placed. You will need to monitor the results throughout the day and ensure you are available to lay the next section of your bet.
If your goal is to make a full time income from Matched Betting, then the extra income from these offers will be attractive.
If you’re like me and just looking for the easy money, you will probably avoid.
Is Matched Betting worth it?
The answer to that question will be dependent on your circumstances.
It is more likely to be yes, if you make the most of purpose built matched betting software like Oddsmonkey.
Without Oddsmonkey, the time you spend searching and completing offers will translate into a poor hourly return.
Another look into how much money I made matched betting last year:
This profit took me less than 10 hours a week, with the help of Oddsmonkey. Without a premium account, £500 a month would likely take closer to a 100 hours a week.
The purpose-built software helps you find daily offers, with step by step guides on how to complete them.
We can also find the most valuable bets with a single click of a button. Saving you a tremendous amount of time and maximising your profits.