My whole blog is focused on making money from Matched Betting. I do understand that some people will be reluctant to sign up to a service without knowing if it will make them money.
The idea of this post is to show you exactly what is involved and provide a step by step plan of how to make ?1,000 Matched Betting without signing up to any paid Matched Betting service.
I still recommend you sign up to a Matched Betting service such as Odds Monkey as this will make everything alot quicker and the training provided is much more detailed. The forum is also a big bonus as any questions will get answered quickly and you can learn so much just by browsing through it.
However, for now…. If you just want to make cold hard cash…. see below:
Before you start
I have a more detailed post about getting started here, but I have tried to break this down into a smaller summary:
- Set up a new email address: It makes sense to keep everything “Matched Betting” separate from your normal emails, it makes it easier to access and also easy to check if you have been sent any “exclusive” offers. I recommend you sign up for a gmail email account. It’s free and easy to use and it also means you can download a copy of the spreadsheet I use to get you started. Alternatively, you can sign up for a free outlook email account.
- Set up a new Bank Account: As with the above. I recommend you have a separate bank account for matched betting. This will make it easier to keep a track of everything.
- Transfer money into the new bank account: I recommend you start with about ?500. You can start with less (even as low as ?50) but it will take much longer to make ?1,000 profit as you will have to keep waiting on withdrawals to clear.
- Keep Good Records: As you will have money in different bookmakers accounts it is important to keep good records of everything you do and where your money is located. I have created a template of the spreadsheet I use, it is simple but I personally find it easiest t use.
Now you have your separate email address and bank account its time to get started. The first thing to do is to sign up to a betting exchange, I recommend you sign up to Smarkets. The reason is they only charge 2% commission (compared to 5% at Betfair) and by signing up with these first will mean you can still take advantage of the more profitable Betfair sign up offers.
- Sign up with Smarkets here
Now you have a betting exchange account with Smarkets you can get started on signing up with bookmaker offers.