I’ve written many posts and shared many videos on Matched Betting, however there are some smaller questions on the topic I’ve yet to cover. These questions don’t require an individual post on their own. Which is exactly why I’ve decided to create this Matched Betting directory / Matched Betting FAQ.
As the Matched Betting industry continues to grow I’ll be adding and updating this post to ensure it’s kept as up to date as possible. An so, as always, if you have any questions in regards to Matched Betting then be sure to leave me a comment in the comments section below.
What Is Matched Betting
So, let’s start with the basics. What is Matched Betting? How does it all work? For this I turn to one of my very first Youtube videos.
Can Anyone Start Matched Betting?
Provided you’re over the age of 18, yes.
You’re required to be over the age of 18 to open betting accounts in the UK.
If you’re from outside of the UK and online gambling is legal in your country then leave me a comment below and I’ll do my best to point you in the direction of the best person to speak to on getting set up.
Is Matched Betting Legal?
Yes, Matched Betting is completely legal.
It’s still fairly new, but has been covered by major news organisations as it’s popularity grows.
Are There Any Risks?
Because you are covering all possible outcomes by both backing and laying your bets. You’re effectively removing any risk that’s associated with traditional betting and gambling.
The only real risk is human error. This can include not checking the latest odds, entering an incorrect amount etc.
It’s for this reason that I always suggest purchasing a subscription to a dedicated Matched Betting website such as Profit Accumulator. Which provides detailed walkthroughs of every single bet you’ll be placing. As well as taking things slowly and at your own pace. This isn’t a race, and more often than not by rushing you’ll make mistakes.
Do I Need To Know Anything About Gambling or Sports?
When I started out I’d never placed a bet in my life and the last thing I wanted to do on a Saturday was watch the football. Yet I went on to make £20,000 in tax-free cash thanks to Matched Betting in 2016.
If I can do it, you can too…
What If I’ve Already Got Betting Accounts?
That doesn’t matter… With more than 50 UK licensed bookmakers and new ones appearing all the time there are plenty of sign up and reload offers you’ll be able to take part in.
What Happens After The Sign Up Bonuses? – Surely It’s All Over Then?
Far from it, in fact that’s when you move on to reload offers. Reload offers are promotional offers by the bookie to incentives people to keep coming back and playing more.
Websites such as Profit Accumulator update the different reload offers for more than 50 bookmakers multiple times a day. Which means there’s always an offer to be taking part in.
How Much Can Earn From Matched Betting?
I mentioned previously that I managed to make £20,000 in a year. However, I’m not the only one… In fact people have earned more than £100,000 from Matched Betting.
Profit Accumulator has ‘clubs’ within their forum for people to join when they reach particular financial milestones. You can also share all the things you’ve been able to purchase as a result of Matched Betting.
However, don’t just take my word for it. Check out what other people have to say…
If Matched Betting Is So Good Why Isn’t Everyone Doing It?
This is a question I get asked a lot, and peoples reasons often vary. Although these are just a selection of the most common;
I don’t have the time
It’s a scam
It’s too hard / I don’t understand
I’ll probably loose money
I don’t have the cash to start
It will affect my child tax credits
It will affect my pension
All of these aren’t true. It’s tax-free because you’re technically winning from ‘gambling’ despite being risk free. It’s not a scam, it’s no illegal. It can take you as much or as little time as you like, and you can start with as little as £50.
But still, try telling that to some people who only complain how broke they are in every other sentence…
Will Matched Betting Change My Credit Rating / Chances of Getting A Mortgage?
This question has been debated on matched betting forums for as long as I’ve been taking part. So, let me share with you what I know;
In some cases bookmakers may run soft checks on your credit report. This is pretty much the same s when you use a car insurance comparison website such as Go Compare or Compare the market.
However, the mortgage part is a little more complex. For a new mortgage applications you’ll often find that you have your bank accounts reviewed. To do this the bank may ask for your bank statements.
There are two ways of getting around this;
Firstly, stop matched betting prior to applying for a mortgage. You’ll need to stop anything between 12 months to a year before applying.
Alternatively, you could look to use a Skrill account. This should allow you to continue matched betting.
Finally, remember Matched Betting isn’t classed as an income and you therefore can not declare it as such when applying for a mortgage.
How Much Money Do I Need To Start Matched Betting?
You can start Matched Betting with a float of as little as £50.
However, the more money you have set aside the better as you’ll be able to steam through the offers without waiting for the cash to move from your betting account back into your bank account.
How To Get Started Matched Betting
This free trial will teach you how to make £45, and then it’s up to you if you want to continue with Profit Accumulator and Matched Betting on other offers.
Matched Betting Terminology
When you first get started, Matched Betting can seem like learning an entirely new language. Especially in the forums. However, as with any forum it’s easy to decode with a little practice. In fact before long you’ll be doing abbreviations of your own. However, in the meantime, to get you started. These are some of the most commonly referenced terms and their meanings;
365 – Bet365
888 – 888 Sport
Acca – Accumulator bet
Arb – Arbitrage Bet (Back odds higher than lay odds)
Bfex – Betfair Exchange
BFSB – Betfair Sportsbook
BoG – Best Odds Guaranteed
BTTS – Both Teams to Score
BV – BetVictor
Cheltmas – The Cheltenham Festival
DD/HH – Double Delight, Hat Trick Heaven
EV – Estimated Value
EW – Each Way
FB – Free Bet
FGS – First Goalscorer
Gubbed – Promo banned at a bookie.
HT/FT – Half Time/Full Time
Lads – Ladbrokes
OLA – Override Lay All
PA – Profit Accumulator
PP – PaddyPower (Can also mean 888sport Premier Player)
PPM – PaddyPower Messenger
QL – Qualifying loss
RTP – Return to Player
SMM – Super Monopoly Money
SNR – Stake not Returned
SR – Stake Returned
WH/Hills – William Hill
WWGI – Win, Win, Get in (Coral offer)
I hope you have enjoyed my selection of Matched Betting FAQ. As I mentioned earlier in this post I’m looking to update this and answer any questions you might have about Matched Betting so feel free to leave me a comment below and I’ll get back to you as soon as I can with an answer…