- Click here for Week 1’s Summary
- Click here for Week 2’s Summary
- Click here for Week 3’s Summary
- Click here for Week 4’s Summary and Final Results
Hi guys! Neal here.
So, I decided to set myself a challenge to earn £1,500 in 4 weeks from Matched Betting with OddsMonkey – a matched betting service I’ve been using for just over a couple of months now.
I’ve used another matched betting service provider since I started, but after using OddsMonkey for my review I genuinely believe it is the best one out there for anybody new to matched betting because of its:
- Low monthly and yearly subscription cost
- The amount of awesome matched betting tools it offers means it is great value for money
- They are a very reliable and reputable service having been in the matched betting industry since 2011
If you want to follow along on my challenge you can sign up for a free trial with OddsMonkey, by clicking the button below:
What’s My Background in Matched Betting?
I started matched betting around May 2014 so I’ve been at it a fair while and have made a lot of money from it. It has honestly been one of the most life-changing experiences i‘ve ever had. However, in June 2016 I started focusing my efforts on learning Sports Trading, and as the months went on I found myself less and less inclined to do any matched betting as I became obsessed with learning Sports Trading. (I’m a man and find it very hard to multitask, haha).
This meant that between pretty much November 2016 and now (Sept 2017) I stopped doing matched betting altogether. But now I have a reason to get back into it!
Why Am I Doing This Matched Betting Challenge?
I’m heading away to New Zealand in November and have a need to add to my savings before I land in the country. Whilst I know sports trading is going to take a while longer for me to become consistently profitable I thought I’d go back to matched betting for 4 weeks to make as much money as I can before I head off as it’s where I’m pretty much guaranteed consistent profits.
To be able to achieve £1,500 in the space of just 4 weeks (especially with so many sign ups already done and plenty of gubbings already handed to me) I’m going to have to have a strategy as to how to achieve this.
Here it is in all its (basic) glory:
First up, I wanted to talk about my bank. I’ve settled on the idea that a £500 bank will be fine. Although this makes me a bit nervous as I’m used to having a much larger bankroll! This is why i‘ve outlined a weekly strategy that can be seen below because, quite simply, I’m going to have to put this bankroll to good use and use it in a strategic manner.
My Tactics and Weekly Strategies
For this challenge, I’ll be using Smarkets for their 2% commission. This will help me make a few pounds extra profit towards my £1,500 target due to the money saved in the 3% difference in commission between Betfair and Smarkets. Every little helps, right?
I’ve already signed up to Smarkets so their offer won’t be including in my sign-up profits, but if you’d like to follow along you can sign up to them and get £10 risk free, here:
Week 1: Bank Building – A Focus on Sign Ups
Target – £250 Profit
I’ve been at Matched Betting for over 3 years now and I’ve signed up to quite a few bookies. But there was a tonne I never done because I took advantage of the repeatedly good value in reload offers provided by the main ones like William Hill, Paddy Power, Bet365 and such.
Because of this I got lazy with doing sign ups, so I still have a load that I can do. I’ve estimated that the ones I have left are worth about £600 – so that still leaves me with £900 to make….
In the first couple of weeks I will be focusing on the smaller sign-up offers such as 188Bet’s Bet £10 get £20 in Free Bets, and 888Sport’s Bet £10, get £30 in Free bets as these will suit my bankroll. For example, I have never done 10Bet’s £200 Sign Up Bonus, but there’s no way I could tackle it in the first week with a £500 bank. I’ll have to wait until late in Week 3 to even think about attempting it as I’ll have to be confident I’ll have enough money in the bankroll to cover the potentially huge rollover.
You can see a full list of the sign ups I’ve already done at the bottom of this post. I’ve also provided a list of the bookies I’m already gubbed by and won’t be able to use for sports offers (although some still allow me to do casino offers).
Week 2 – More Bank Building Through Sign Ups and Introduction of Casino Reload Offers
Target – £350 Profit
This will be more of the same as the first week – doing more sign ups. However, I may start introducing Casino reload offers if any come my way either through being sent promotional emails or if I spot any on the OddsMonkey daily calendar.
Throughout this challenge, I will only be focusing on low-risk and medium-risk offers as this is not the time or place to be trying to ride out the huge variance that comes with high-risk casino offers in a 4-week challenge.
Week 3 – Continued Bank Building, Introduction of Casino Sign Up Offers and Bingo Sign Up Offers, Plus Continuation of Casino Reload Offers
Target – £450 Profit
By this time, I’ll be able to take on some of the larger value sign ups that I have left to do, plus the ones which are a little more difficult due to the rollover wagering requirements stipulated in their T&C’s (for example, Royal Panda’s £100 sign up offer of which the OddsMonkey instructions for can be seen below).
Week 4 – Completion of Big Value Sign Ups, Continuation of Casino and Bingo Reload Offers and Introduction of Acca Offers
Target – £450 Profit
By this stage, this is where compounding will have hopefully worked its magic and my bankroll should be around the £1500 mark (Consisting of the £500 bankroll and the roughly £1,000 profit I’ll have hopefully have made).
This would allow me to take on the high value sign up offers such as 10Bet’s £200 deposit bonus. I will also continue doing the casino and bingo reload offers whilst also tackling a few Acca Offers (of which I’ve never done too much of before!)
Finally, I want to lay down some rules as to what I’m allowed to and not allowed to do. I want to make it clear that I will not be doing offers multiple times through what is known as multi-accounting/gnoming. Because if I was, and I had a large enough bank I’d probably be able to make £1,500 in just over a week.
- The challenge will run from today (Friday 8th of September until Sunday 8th of October)
- £500 Bankroll where I cannot overstretch my liability (I have a way of being able to ensure I can make the most of this and I’ll be sharing this tip with you in Week 1’s post)
- Can only use offers that I find on OddsMonkey’s website or forum
- No Skrill
- Must include a variety of offers – Accas, Casino, Sign Ups and Bingo
- Finally, NO MULTI-ACCOUNTING/GNOMING. I will not be doing any offer more than ONE time with any bookmaker
Bookies I’ve Already Signed Up To:
- Stan James
- Sun Bets
- William Hill
- Paddy Power
- Gala Casino
Bookies I’m Gubbed By:
- Ladbrokes (Just sports)
- Skybet (Fully gubbed)
- William Hill (Just sports)
- Betfair (Just sports)
- Bet365 (Just sports..I think, rarely used their casino stuff)
- BetVictor (Fully gubbed)
- Stan James (Just sports)
- Paddy Power (Just sports)