Like most people I wanted to find a way to increase my income (as a married man with two very young children things can often be tight), after chatting to a colleague at work I was pointed in the direction of something called “Matched betting”, something I had never heard of before. I was told it is was an easy way to make an additional income. Firstly I laughed at the idea thinking it was a scam/too good to be true etc etc. (Looking back now….. I wish I had started years ago!)
My friend pointed me to a website (OddsMonkey), this explained in great details how to make a tax-free second income, they provide all the tools required. I still thought it was too good to be true, but later that evening I followed their free starter guides and within a couple of hours I had already made £32! I was hooked!
Basically…. Matched betting is a term given to making money from bookmakers offers, for instance lets look at the book-maker Coral, they offer new customers a £20 free bet when you bet £5. So….. using the software available on OddsMonkey (remember you can do this for free to start with using their guides) you can find an event to place a £5 bet on, for this example I’ll use Manchester United vs Tottenham, so we put a £5 bet on Man Utd to win, we then place another bet with an exchange (these are places where you can bet against an event), I often use the company called BetFair, so we are placing a bet on the exchange for Man Utd not to win. Doing both of these tasks is called a “Qualifying bet”. From this initial £5 bet we expect to loose perhaps 50p. But…. we then receive our £20 free bet. Using the same method as before (using the tool provided by OddsMonkey) we then place a £20 bet and a bet on the exchange against the result, as we are using free money now (the £20) anything we make is a profit, from the £20 free bet you can expect to make £16 from it – by betting on both outcomes (to win and not to win) you are guaranteeing you win (profit)!
So… I signed up to OddsMonkey (a small reoccurring monthly fee) and within 1 year going at a steady pace I’d made in excess of £1000. As of today my profits can be seen below (a screen shot taken from my OddsMonkey account on 30-1-2018). Roughly £2307 in total – the best part is it’s all tax free too!
When I say I’ve been progressing at a steady pace…. I really have, my life if fairly busy with working full time and having a family, so the only time I can sit down and do any of this is during my lunch break and the odd hour or so on an evening. Some people are earning in excess of £2000 per month, I think I’d struggle to put in the hours to achieve this but certainly £500 is very achievable.
The site points you towards all of the offers, guides you through them step by step, gives you the calculators to work out what bets to do etc – It really is very good! There are other sites out there offering similar but in my experience (I’ve used a few) OddsMonkey is the best in terms of value for money, information and help.
This is essentially free money being given away by many many bookmakers! Why not extract a large proportion of it for ourselves? Hence why I am sharing this with you all.
I’ve been using the money I make to pay for the services and repairs on both our cars (the puncture on my Scirocco again this-morning is now less-painful to the wallet!). The good part is I actually enjoy doing it!
03-12-18: Bit of an update, nearly 1 year on from when I wrote this post (well…. 10 months actually) I’ve made another £6000.