Quick questions about starting matched betting

[Adventurer567]

1. Just watched the OddsMonkey video

• are they any good and do they charge for using them?

1. Do I need a separate bank account for matched betting? Eg should I open another current account with a different bank?
2. Can I do matched betting from my iPhone as I have a laptop but don’t use it and find things easier to do from my phone

Thanks! And any more info/ tips recommended!

Oh and any common pitfalls ? Thanks!

Anyone? Thanks

Ill be first to be actually ignorant of what matched betting actually is and foretell how youll lose all your money, family and friends because gambling is addictive.

Gambling is addictive and alters the neural pathways in the brain.
It's a mugs game and you will loose all your money, friends and family.
Spend you money on therapy instead find out why you need to hide from.

Cora1942 matched betting is not gambling. I am just over 5k in profit after a year of doing it - I first read about it on mumsnet.

Adventurer567 go to www.teamprofit.com

Matched betting is not gambling so ignore those comments from those that have never done it.

Oddsmonkey is a subscription service but easily worth it for the oddsmatcher alone let alone the guides and videos. You'll make well over enough to cover the cost of it each month and without it you'll spend hours and hours trying to find your own matches.
Look at team profit on Facebook, they have a newbies page and a regular page, both super helpful and free.

I set up a new bank account with my regular bank and also a new email address so all my matched betting is completely separate from the rest of my life. I put £100 in to start with and am about £4k in profit in 9 months. The 1st few months are slow as you build up your bank but if you follow all the guides and stick to the rules you can't lose.

If you don't understand something, don't do it. Go back and read the guide again, watch the video again, look at what you have to do, read it again, then only when you're sure, go for it! Placing those 1st few bets takes forever but you'll soon speed up when you get the hang of it.

I do all my MB and casino from my phone so yes that's fine. You get quicker and it gets easier the more you do it. I can do bets now while the kettle is boiling and casino/bets I spend about 45-60 mins a day on
It's not gambling, but you will get a million comments about losing money

Matched betting isn’t gambling but it can probably lead some people into gambling so it is certainly wise to handle it with care, and anyone with impulsive or addictive histories should steer clear completely.

I bloody love that the first two comments are

‘I dont know what the thing is but it’s definitely evil‘

Can I ask those who do it ... I was under the impression you used the introductory offers to place the opposing bet, so how is it sustainable in the long run?

(Im seriously looking into it, because im a maths nerd and love statistics and spreadsheets)

There are continuing offers on some websites but the problem is that websites are always trying to weed out matched bettors so you will be culled from free bets and promotions on most websites sooner or later. You can try to disguise your matched betting activity by placing ‘mug bets’ but this eats into your profits, which are IMO modest anyway, and there are lots of things and patterns they look out for. Almost any other way of making money is probably more profitable, but if you are housebound or are looking to do something while you are half-watching Corrie in the evenings, it will make you some extra cash. Perhaps with websites like Oddsmonkey you can make serious cash but I’ve never used the paid version.

Thanks so far...
-How much roughly would OddsMonkey charge per month as a minimum?

• Do they walk you through things or am I best to really read up and understand matched betting before I join them?
• Glad to hear I can do this from my phone.
• Wondering if I should use a different bank or just use my savings account with my own bank as there’s nil in it just now?

Also is it totally tax free re any winnings?

@Adventurer567 read up on it 100%. You can do it yourself by just using an odds tracker. Several are free.

Andysbestadventure- will I get caught out if I don’t use something like Oddsmonkey?
Can you easily explain how to find and use a reliable odds tracker?

join team profit first (it's free). odds monkey do a £1 trial which I would recommend when you're a few weeks in and are getting the hang of it.
you definitely need a separate bank account and email address. and photo id and proof of address.
I do it all on my phone no problem

Oddsmonkey have a free version which will take you through two offers for free, or they used to. Then you can do the £1 trial to consider whether to continue with it. I found Team Profit a useful alternative.

A different bank account with a different bank is better. I set up a new email and got a new pay as you go sim for an old (second) phone.

I started matched betting 3.5 years ago with 10. It’s definitely not gambling but I can see how some people might get drawn in as offers and bookies reduce- bookies hate matched bettors and will gub (ban). That said I still do a mix of bets and low risk casino and make at least 2k every month, usually a lot more.

Id recommend using one of the paid subscriptions, the first two offers are free and you’d cover the first months payment with that alone.

I only match bet on my phone.

I didn’t set up a separate account when I started but I wish i had. You need to move money around a lot especially to start with and it takes days to show back in your account so it’s easy to accidentally spend it!

Oddsmonkey is good but it depends how much you’re doing. I’ve not got much free time to do it just now so I’ve cancelled for now as it wasn’t worth the £18 a month for how much I was using it.

And is it tax free? Thanks

I’ve been Matched Betting for 18 months. It is not gambling. I’ve made £13,500 in that time (started with £25).

I second joining Team Profit, they have a website and a private Facebook group that are both free of charge. I’m on there and honestly the camaraderie amongst the members is great, with the vast majority of folk pitching in to help each other out and notifying of offers when they appear.

My key advice:

1. Take it slowly, there is no rush and you are more likely to make mistakes if you don’t take your time at the start.
2. Set up a separate email address just for Matched Betting, that way your offer emails won’t get lost amongst your day to day stuff.
3. A dedicated bank account will make life a lot easier when tracking your money. A basic current account is all you need.
4. OddsMonkey is great. The OddsMatcher alone will pay for itself within a day or so every month. Subscription is £17.99 per month but I’d say you don’t need it right away, particularly if you follow the Team Profit guides which literally hold you hand every step of the way.

And yes, it is all tax free money!

Matched betting definitely is gambling! It is just gambling against other people and not a bookie.

The difference between matched and normal betting is that the middleman is taken out and, for every loser, someone else wins. However there is generally a (smallish) administration fee.

For example, if I think that Manchester United has a 3/4 chance of beating Southampton, a 3/16 chance of drawing and a 1/16 chance of losing, I can offer you 1/4 (say) on Manu, 12/1 on Southampton winning and 4/1 on a draw. All of these are below my theoretical probabilities and if people take all of them (in the right ratio) I am guaranteed a profit.

Effectively I have become a mini Ladbrokes.

However, it takes immense discipline to make a little money, and it is very easy (and sometimes inevitable) to often end up taking a view (ie gambling).

Unless you love that kind of thing and have a facility with ratios, I think you would have to work immensely hard to make not much money.

Use the team profit guides, they are really easy to follow and explain everything re different bank accounts etc too.

I started just under 2 weeks ago on a whim and am £130 up already for maybe a couple of hours input. It’s not going to make me rich and I’m not planning on doing it long term once the welcome offers are done but I reckon I can easily make £500+ in the next few weeks for minimal effort so why not when it’s free money?

I did open a new account just to keep it separate from my main account but it’s all in the team profit guides. You don’t need to subscribe to anything to get started.

To those saying it’s gambling, evil etc...you place bets on both outcomes of an event so there is no luck / chance involved as you win either way. But, if you’re someone who tends to get carried away or may get led in to gambling (& that’s what the casino stuff is, as far as I can tell) you want to tread carefully.

Is matched betting something you have to devote much time to, or can you do it alongside a full time job?

@RevealTheLegend you make your initial fast profit in the first few months doing Welcome Offers (usually about £1000 in the first 3 months if you follow the Team Profit “Start with £25 Guide”). After that your profits come from what are known as Reloads, that is regular offers that most bookies run. Some of these are guaranteed profit (Bet £x get a £y free bet) and some are offers like William Hills “2nd Place Refund” where you get your money refunded if your horse finishes second in a certain race that day.

I highly recommend that anyone interested signs up to TeamProfit, it is totally free and full of invaluable advice and videos to walk you through the offers.

www.teamprofit.com/