If you need help matched betting, you’ve come to the right place. I have been scouring the Outplayed forums and have come across a lot of the same questions being asked repeatedly. This article will answer some of the biggest concerns and misconceptions about matched betting.
I have been matched betting for over eight years. In that time I have banked tens of thousands of pounds that I put almost exclusively towards our travel fund. Before we start, if you’d like to know more read Matched Betting: How to Save Thousands for Your Travel Pot.
Let’s get on with the matched betting help and answer some of the top questions.
Is Matched Betting Allowed/Legal?
Yes, matched betting is allowed and 100% legal. Some betting sites do not like punters doing it and will eventually cut off the free bets, thus stopping you from making money from their site. When this happens, you simply move on to one of the other hundreds of bookies available.
Is Matched Betting Risk-Free?
When it is done correctly, matched betting is risk-free. However, I strongly advise you to follow all the guidance and tutorials of an official matched betting platform like Outplayed before you get started.
Understanding how everything works can take time but once you know how it’s done, matched betting becomes second nature. Only through making mistakes and human error is matched betting not risk-free.
Is Matched Betting Tax-Free?
Yes, matched betting is tax-free, UK citizens do not pay any tax on gambling profits. Although you are not technically gambling when you partake in matched betting the proceeds are viewed as profits from gambling and are not subject to UK taxation.
How Much Do I Need to Get Started Matched Betting?
One downside to matched betting is that you need a small float to get started. Without this, you won’t be able to back and lay your first bets, and lay off your first free bets in the exchange. I recommend a figure of around £100 as a good starting figure. To note, this money is never at risk and will produce thousands!
If you are starting small, build your bank by doing one offer at a time. Then keep the profits you make in your matched betting accounts allowing you to do more offers and make more money.
Can I Do Matched Betting Abroad?
Yes, you can do matched betting abroad but I have found it is not as easy as when you are in the UK. I use a great VPN when traveling but even with this, many of the betting sites are inaccessible or slow and unusable. These kinds of conditions are not great when you have free bets to use and bets to lay off.
Different countries have different laws about gambling, in the USA it varies from state to state. Therefore accessing betting sites from outside their original jurisdiction can pose problems. A VPN may get you around it, but you can’t ever guarantee it.
Some free bets are also time-sensitive which is not conducive if you are on the other side of the world. In-play bets need doing while the game is happening so with a significant time difference this can cause an issue.
What’s the Most Money I Could Lose Matched Betting?
Matched betting is risk-free when it’s done correctly, so you shouldn’t anticipate losing any money. Having said that, a couple of mistakes and greed have led to me making errors that caused a financial hit. Thankfully I had already banked thousands in profit from matched betting and it didn’t hurt too bad,
A great offer from a new bookie came online and being stupid and greedy I signed up twice to try and double the money I could get out of it. When it came time to withdraw cash from both accounts, they spotted they belonged to the same person and kept the money!
I lost about £140 in profits I had produced by working through their free bet promotion. It sucked at the time but like I said, I was already thousands of pounds up, so I learned my lesson and moved on. Click here to read my matched betting story.
How Much Time Should I Dedicate to Matched Betting?
How much time you spend matched betting depends on how much profit you want to make and of course how much time you can spare each day to do it. I recommend giving it a few hours each day when you are getting started. Learning the ropes can take some time but it’s worth the commitment.
As you become more proficient at matched betting you will need less help. Working through the processes is quite simple once you know how. Backing and laying a bet will become second nature and you can simply spend minutes a day sourcing free bets and pulling cash out of thin air.
Saturday and Sunday are generally the busiest days for matched betting as this is when most of the football happens. I budget around an hour on weekend mornings to place my matched bets.
How Much Money Can I Realistically Make Matched Betting?
You can expect to make between £500 – £1000 a month matched betting. I easily hit these figures for years while completing the hundreds of sign-ups and reload offers that were at my disposal.
Years in, things do taper down as you get gubbed off the bookies, and profits become dependent on new bookies coming online. But even now, eight years in, I can still make hundreds of pounds a month matched betting.
What’s the Catch? What Am I Missing Here?
The only catch is that this isn’t a long-term job solution. It’s a cash cow for sure, you will make thousands by matched betting. But giving up your job to do it just isn’t feasible in the long run.
As per the previous question, years in, the profits will start to slow down and you become reliant on new bookies opening up. It’s still a great way to earn lots of extra cash as a side hustle.
Having gambling sites on your bank statement can look bad in the eyes of mortgage lenders and credit brokers. Therefore you should have a separate, isolated account for your matched betting finances. Gambling sites are not linked to your credit score and have no impact on your rating.
Where Can I Find the Best Matched Betting Help?
I have always belonged to Outplayed, even when it was previously known as Profit Accumulator. They have always had a fantastic catalog of resources and all the matched betting help anyone could need.
The forum is excellent for peer-to-peer help but is overseen by senior matched bettors and Outplated staff who are quick to answer any concerns or issues you may be having. As a matched betting resource you need look no further than Outplayed!
Conclusion
I hope these FAQs have given you all the help you need to kick-start your matched betting career. There are tens of thousands of pounds to be made in risk-free, tax-free, legal cash just by using your laptop and learning how to bet a certain way. Go get it!
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