Matched Betting with OddsMonkey
So, if you read my latest income report then you will of no doubt seen the dramatic increase in my earnings.
This huge increase has come from Matched Betting with the help of Odds Monkey.
I know. I had never heard of it before either.
Once you understand the premise it is extremely clever.
Even better no former knowledge of betting is needed (remember we are not actually betting).
OddsMonkey makes it easy with guides, OddsMatcher and Odds Calculator.
Get started today with a free trial at OddsMonkey
What Is Matched Betting
Before I explain, let me tell you what Matched Betting is not. It is not, I repeat NOT gambling.
Matched Betting has a few basic steps. At least all the easy signup offers do, that’s where the really easy money is.
What we are doing is exploiting the free bets sign up offers and reload offers the countless bookmakers out there offer us.
The offers just keep coming once you are signed up to a few bookmakers.
It is always recommended to stick to football when doing Matched Betting and stick to big league games, not obscure South American games for example.
The Reasons for this are all explained in the guides, but simply, we want to appear as a normal ‘mug’ gambling with the bookmaker.
How Matched Betting Works With OddsMonkey
It goes like this. As a basic example. Signup to OddsMonkey and select one of the first signup offer guides. It will playout as follows.
- Sign up to a Bookmaker and deposit £10
- Place a £10 bet on a football match using the OddsMatcher
- Lay the bet off on Smarkets Exchange or Betfair Exchange
- You then get a free bet (say £10)
- Place your £10 free bet again using OddsMatcher
- Lay this bet off using the OddsMonkey Calculator to lock in profit
- Profit and Repeat.
Those are the basic steps for most Matched Betting you will do. Pretty straight forward right!
Matched Betting Trigger Bet
After your first couple bets it will become second nature. It now takes me less than 5 minutes to signup and place the trigger bet.
Once you have watched a couple of videos and read a few guides on OddsMonkey it will all become clear and make perfect sense.
Your initial bet is known as a trigger bet (as it triggers the Free bet).
We use the OddsMonkey, OddsMatcher to find a bet that is close in the back(for, or a normal bet) and lay odds (against).
When these odds are sufficiently close then it does not matter if the bet wins or loses. It will cost you around £0.15-£0.30 to place the trigger bet. The OddsMatcher does all the work for us finding a close match.
After inputting the back and lay odds into the OddsMonkey Calculator we know how much to the penny to lay.
If the bet wins the money will be in the bookmaker’s account, if the bet loses then the money will be in your Smarkets account (Exchange) or Betfair Exchange account.
Our Smarkets account is similar to a normal bookmaker but allows us to lay bets rather than back. Smarkets charge 2% commission whereas Betfair charge 5%. Whilst it is only a few pennies, I choose to exclusively use Smarkets.
Matched Betting Free Bet
Next comes the clever part…
Once the FREE bet lands in our account we do the same again but using the OddsMonkey Calculator in Free Bet mode.
What we are doing here is laying of part of the free bet.
In doing so we guarantee a profit. With Matched Betting, we normally lock in around 75% of the free bet value as seen in the example below.
Note the FREE BET in the bet type and the exact amount to lay. Also, note how close the back (for) and lay (against) odds are, this is to maximise profit.
It then gives us our profit on either the back or lay – It does not matter if the bet wins or loses, we win either way.
OddsMonkey Makes It Easy
OddsMonkey makes the whole process a breeze. No knowledge of betting is needed. There are easy to follow guides for each and every sign-up offer.
Using the OddsMatcher saves so much time and effort, making each offer just a few minutes to complete.
Even with just an hour a day you could make some substantial profits.
My first month I made £377.41 and this month already I have made £388.84. Needless to say, this is a very nice bump to my income, all tax-free as well as all betting income is.
How much you earn is entirely up to you, £100 a month easy with next to no time invested, £300-£400 with a little more time invested as I have done.
There are many tools and even an active community forum within the OddsMonkey platform that really make it easy to get started.
I am getting so many free bet offers come through on bookmakers I have already signed up its hard to keep up!
While it is not passive income, it requires very little effort to see impressive results. I suppose you could label it as a side hustle or semi-passive as I choose to label it.
My ‘Semi Passive/Passive Income total’ has surpassed £500 as of the 22/09/2020 largely due to Matched Betting with OddsMonkey. £388.84 solely from Matched Betting
Leave a comment below if you have any questions or concerns and I shall do my best to help.