Matched betting is one of my favourite side hustles. This article explains why matched betting is still worth it in 2023.
Lately, I’m being quiet about it since this blog has other topics to discuss too. But if you have been reading Foxy Monkey for a while, then you know I’m sitting on a nice £500-600 monthly income from matched betting.
It’s been almost 5 years since I started matched betting. As we enter a new year I feel like sharing my thoughts on whether matched betting continues to work in 2023 and how to make the most out of it.
Not sure about 2023, but it has clearly worked in the past!
Take that “matched betting profits aren’t realistic” naysayers. Yes, it takes some time. Yes, £500 a month may be a small amount if you are making much more on your day job. But nothing beats making money from the comfort of my sofa 🙂
If in 2016 you had told me that I can make £13,203 in 26 months by placing bets, I wouldn’t have believed you.
That’s £508 per month extra for growing my savings pot, helping with regular bills and sometimes not having to worry about buying a ticket for the next concert. There are times that I indulge myself in extra spending thinking “Oh I better work harder on matched betting this month”. Of course, that never happens, but it’s wishful thinking anyway!
Is matched betting worth it right now?
I still get many e-mails from readers thanking me for introducing matched betting to them. Money is not everything, but it certainly helps.
But what about now? Have offers dried up? Will matched betting stop working in 2023 and beyond?
It has become so popular that people are not surprised when I mention it anymore. That gets me (and the bookies) worried. I believe OddsMonkey played a huge role in making it popular and super-easy to do once a week.
When people can find a few daily offers every Saturday and secure £200 a month spending 2 hours a week, then everyone is jumping on it. But here’s the thing.
Most people quit. They gamble instead. Other people I know have heard about it but don’t have the energy to try it out.
I don’t blame them. There are more fun things to do in life than matched betting! And as my friend Araminta pointed out, matched betting won’t improve your personal skills in other areas. It’s cold hard cash.
This is why I strongly believe matched betting has a bright future. Bookmakers will always issue offers to attract customers. There will be many more punters than advantaged players. It’s why I managed to make a profit over the past years. And it’s why casinos keep making big money on Blackjack when the game is beatable with simple math.
Do you think bookmakers don’t know about matched betting? They certainly know but they don’t care. They know that even matched bettors will take an occasional punt and that matched betting is not the standard way people bet. That’s why we have an edge. Consistency and discipline are the two most important aspects of it.
How to make the most out of matched betting in 2020
1) Sign up to all bookmakers
Here’s an offer that popped into my inbox 3 days ago.
From time to time, bookmakers run “invite-only” deals. These offers are specific to your account and are not available to the general public.
By signing up to all possible bookmakers you increase your chances of getting one of those freebies every week.
This offer was stunning. I went for the middle-tier and placed 3 x 100 bets for -£6.20 qualifying loss. I got a £50 free bet the next day for a £40.20 profit 🙂
Total time spent? 10 minutes. I account for reading the offer, finding the best games on OddsMatcher and placing the four bets. OddsMatcher (another OddsMonkey tool) is what I use for finding the games with the smallest difference between bookmaker odds and exchange odds. Therefore, keeping my qualifying losses as low as possible.
2) Use a professional service
In my opinion, the £17.99 a month is a steal for the value OddsMonkey provides. I bought the annual package because it comes much cheaper monthly (£12.50 per month). I have been using them since the beginning of my “matched betting career”.
There’s a special offer: £1 premium access for 10 days if you want to give it a go and support Foxy Monkey while doing it.
OddsMonkey has tutorials on how to start, one-to-one training, live support, daily offers by bookmaker, expected value per offer, horse racing offers, casino offers and much more advanced stuff.
I have helped them grow since I was one of their first subscribers!
3) Keep your accounts open
Bookmakers are not charities and they will go after you once you start systematically take money from them. A term also known as “gubbing”.
Being able to take advantage of offers is very important. That’s the most common tip I give to people when asking for matched betting advice.
How to keep your bookmaker accounts open and avoid gubbing
- Bet on high-profile events
You know… Premier league, Champions League, UK horse racing. Avoid 2nd division Russian football. Please.
- Avoid arbitrage betting
Sometimes the OddsMatcher tool may display red odds – 101% or higher. Avoid making arbitrage bets otherwise you raise red flags.
- Bet around your average stake
Gamblers usually bet similar amounts unless it’s a very big event (e.g. World cup final). Bet around £20-£50 or if you wanna play the high-roller, stick to high amounts but be consistent.
These 3 tips alone are good enough to let us fly under the radar. Otherwise we risk receiving one of those e-mails…
So it’s matched betting still worth it in 2020? Absolutely. I will keep doing it as long as my accounts stay healthy and will always look out for new opportunities. I have lost a few accounts but there are new ones coming up.
It’s certainly not as profitable as 5 years ago but I still think it’s a great way to make money from the comfort of your sofa.
The easiest way to get started is to watch a video (scroll down this page) or follow a tutorial. I have also written a guide on How to Boost your side income with matched betting which is still being read a lot.
I think now is one of the best times to start doing it with the Premier League / Champions League having a long way to go.
Are you already into matched betting? If no, what is your biggest struggle? Or if you are doing it already, what are your most profitable months?