I get a lot of questions about matched betting so I’ve decided to write this blog post to try to answer them all for you. Here are the answers to your matched betting FAQ’s.
The answers to your Matched betting FAQ’s
Matched betting is one of my favourite side hustles, I’ve made over £10,000 in 18 months which has really helped boost our savings. It’s helped pay for family holidays, many birthdays and Christmas a couple of years running.
If you haven’t heard of matched betting before then it’s essentially a way to make money on the free bets the bookmakers offer. You can check out this handy matched betting guide which may help you understand a little more.
This post came about after an influx of questions all about matched betting, so I hope this post answers any questions you have.
Are there any videos I can watch that will walk me through the process?
Yes, there are some great videos online to watch that walk you through the process. Matched betting can look very confusing if you’ve never done it before. It’s one of those things that you have to start doing to understand it.
The best videos that I’ve found have been on the Profit Accumulator website. Their videos walk you through the process step by step and the best bit is that these videos come with a free trial of Profit Accumulator.
How much money can I realistically make?
This depends on the amount of time you put in and the amount of money you start with in your matched betting pot. I would recommend starting out with around £200 in your pot although you can get started with as little as £60 and build up from there.
Here is a rough guideline from Profit Accumulator for time spent/money earned.
15-30 minutes a day – £500 per month
30 minutes-1 hour a day – £1,000 per month
1-2 hours a day – £2,000 per month
As you can see the more time you invest the more money you will make. I tend to spend a couple of hours each week these days and make between £300 and £500 each month.
Are there any risks involved?
No, it’s entirely risk free, you’re not actually gambling with your money. The only real risk is that you may possibly make a mistake, although most of the time you’re able to fix this.
If you do find you make a mistake then the Profit Accumulator forum is full of others who would be more than willing to help you out.
Is matched betting legal?
Yes of course it is, I would never promote anything illegal or dodgy. When I first heard about matched betting however I had the same doubts. When I first looked into it I thought it was one of those ‘too good to be true’ dodgy schemes you find online. But since starting I’ve realised that this isn’t the case. It’s even been written about in The Guardian!
Do I need to pay tax on my earnings?
No, you don’t need to declare your earnings, matched betting earnings are tax-free.
Will Matched Betting affect my credit rating?
No, bookmakers don’t perform credit checks so matched betting won’t affect your credit rating.
If you don’t see your question here then please feel free to pop a comment below. Or you can email me and I will get back to you as soon as I can.