So, we’ve covered the first 3 questions in Step 1’s email:
1. Who Recommends It as A Legitimate Second Income?
“I’ve taken up 31 offers so far – and I’ve made in the region of £770. The money I have made has been absolutely risk free, it’s not been about gambling but about playing the system – and it was inspired by Guardian Money. I don’t even have to pay tax on my winnings.”
“I recently came across this thing called matched betting on a student forum, which appeared to turn the odds in your favour. In the past few years, it has become increasingly popular as a way for students to boost their income at university.”
“The money is there, and could be a welcome boost to your Christmas spending, if you’re willing to follow the instructions and put in the effort.”
2. What Do the Bookies Think of It?
As explained in the email – they don’t exactly love with the idea of matched betting.
Why would they be when we’re beating them at their own game. Something most of us have wanted to do ever since we discovered gambling.
…but they live with it as part and parcel of the game. Matched bettors are only a small group of people when you look at the betting industry as a whole. We only put a small dent in the huge profits of these giant corporations.
Just look at what William Hill’s spokesman said about it back in 2010:
3. How Does It Work?
Here is a brilliant example tutorial video from OddsMonkey that talks users through the sign-up process with Betfred. In it they’re able to make £24.98 profit in under 15 minutes:
4) Is Matched Betting a Con or a Scam & Is Matched Betting Illegal?
No. It’s been around for well over a decade now.
As the quote above, by former Media Relations director for William Hill, Graham Sharpe explains: “there’s no illegal element.”
What’s Wikipedia’s take on it?
“Matched betting is legal.“
Short and sweet, eh?
As long as you’re over 18 and reside in the UK or Ireland then there’s nothing to worry about.
5. Do I Have to Pay Tax on Any Earnings or Winnings?
No. Matched betting is tax free!
“Matched betting, along with all other betting, is tax-free in the UK.”
See? Even Wikipedia says so.
6. Why Do Bookmakers Have These Bonuses and Promotions for People to Take Advantage of?
Quite simply it’s a marketing strategy to get people to sign-up to them instead of using one of their rivals. There’s been a fierce fight for online customers as betting and gambling in general has become more accessible through technology such as mobile devices and apps.
They then continue to offer customers reload offers to keep current customers up betting with them.
7. Is It Truly Risk Free?
In essence – yes. Pretty much every offer you do at the start of your matched betting journey will be entirely risk free and there is no way you can lose money – these are normally sports sign-up and reload offers.
There is a certain element of risk involved in the more advanced level of doing casino offers, but this is controlled risk. Matched bettors never play casino games unless they have the mathematical edge in their favour. There are a few other methods of doing matched betting that also include no risk, but these again, are at a slightly more advanced level.
Once you sign up to a matched betting provider, such as OddsMonkey, they will teach you how this works and show you how valuable it can be long term.
8. How Much of a Starting Bank Do I Need to Get Going?
I’d advise a minimum of £100. I personally started with £300. If you have more then that’s fine too, the only downside to having a smaller bank is it will take you longer to complete the initial sign-up offers as you wait for withdrawals form the bookies and/or Betfair to come through – these usually take 3 working days.
9. Once I’m Done with Sign Up Offers, Is That It?
No. There are well over 100+ online bookmakers to take advantage of and most of them offer recurring offers known as ‘reload offers’. As explained above, these are ongoing offers that are sent out to customers who have already signed up with them.
Some of them have these promotions running every day whereas some only show their faces for the bigger sporting events of the year – such as Euros, World Cups, Horse Racing Festivals, Tennis Majors, Golf Majors and such.
There’s many other ways you can profit from matched betting which whatever service you sign up to will teach you how to do.
10. Will Matched Betting Affect My Credit Rating?
No, credit ratings are calculated on the basis of how well your bank accounts are kept – for example, if you didn’t pay your monthly bills on time then your credit rating would be penalised. Bookmakers don’t offer credit, so you can’t be penalised.
The other thing to note is that the type of transaction doesn’t matter – so just because it’s a gambling transaction it has no bearing on your credit rating at all.
I had the same concerns when buying a new car but the dealer ran the card through and there was absolutely no problem. My credit score was perfect even after having used that card for matched betting for over a year at that point.
Looking for some further info to tide you over ’til Step 2? Check out the STT ‘Which Service Suits You?’ table below.
|Which Best Describes You?||Service Which Suits You||Reason You Should Use It|
|Complete and utter newbie who has never even placed a bet before||Bonus Bagging|
Read the full review
|Perfect for beginners who have never used a bookmaker website. |
Has a £1 trial so you can dip your toes in first and receive literal step by step instructions to make your first £360-£430.
(Get the £1 Trial Now)
|I’m a regular punter but have never used a betting exchange before||OddsMonkey|
Read the full review
|Nicely designed website with outstanding user experience in terms of training and support.|
(Sign-up to the free version and earn your first risk-free cash of up to £45)
|I understand value betting or have used a betting exchange for sports trading||Profit Maximiser|
Read the full review
|The original matched betting provider that has a wealth of experience. If you want more substance in order to make more money and don’t mind the style then PM is for you.|
(Get the 14-day trial for £1)
|I understand matched betting and really want to make some seriously life-changing money||Betting Mastermind (with free Project Prosperity training in which Mike shows you how to turn £500 into £15,000 in the space of 8 months)|
Read the full review
|As a weapon of matched betting destruction it’s the tool that bookies do not want you to get hold of. Access to Mike Cruickshank’s Betting Mastermind (with free Project Prosperity training) will seriously change your life. |
Click here if you are serious about taking the opportunity Matched Betting presents.