top of page
  • lukeparsons5

How To Earn Tax Free Income From Matched Betting!

Updated: Nov 11, 2021


Some links in this article are affiliate links, whereby if you sign up through my link, I will receive a commission at no extra cost to you!


Matched betting is one of the most lucrative side hustles out there. I started Matched Betting in 2018 and have earned over £3,000 from it since, even with a significant break in that time of about 18 months.


And these are the two best things about it:


Your income from matched betting is completely tax free.


You can earn profit consistently every month.


In this article I will explain the basic concepts of matched betting, recommend the best online service that is fundamental for matched betting success, and finally share with you how I am using matched betting as a way to build wealth.


Grab a cuppa and lets get started!


What Is Matched Betting?


Matched betting is a strategy to guarantee profits on the special offers that bookmakers give out to new and existing customers.


We do this by "backing" and "laying" bets on the same event, using special offers such as free bets or price boosts to earn money.


Here's a simple example of a Matched Betting offer:


Step 1


Bookmaker A gives you a welcome offer of Bet £10 get a £10 Free Bet


You place a £10 bet with Bookmaker A for Man United to beat Liverpool, to qualify for the £10 free bet.


You then place a bet with Betting Exchange B AGAINST Man United beating Liverpool. So if its a draw or a Liverpool win, your betting exchange bet wins, and your bookmaker bet loses.


Once you've done this, you will initially make a small loss due to the spread of the odds, which is normally called a qualifying loss


Step 2


Once the bookmaker bet has settled, you will be given the free bet. Which we then use to generate profit from this offer.


Place the £10 free bet with Bookmaker A, for Tottenham to beat Arsenal


Place another bet with Betting Exchange B AGAINST Tottenham beating Arsenal (so a draw or Arsenal win), using your £10 free bet.


Once these bets have settled, you will have made a profit!


Important note: I didn't set an amount for either of the betting exchange bets, that is because you need a bespoke calculator to work out what your stake is, which is provided by the online service I will talk about below.


Don't worry if this seems a little complex at first, once you get your head around it, it's very easy to understand.


This was just a simple example of a sign-up offer, however there are many, many other types of offers that enables you to make a consistent profit every month.



The Best Website For Matched Betting

With Matched Betting you are going to need some help finding all the offers and working out your bets, and Profit Accumulator is the biggest and best for that.


Profit Accumulator was founded in 2014 and has over 100,000 members. There are hundreds of offers on the website and there is a community forum and Facebook page to ask questions and share your successes!


You can start for free and earn your first £40, this will only get you two offers though.


Profit Accumulator have two membership plans, Platinum and Diamond. Platinum is recommended to those with a small bankroll (under £100) or are new to the concept of Matched Betting. The offers available are easier to do and are either risk-free or low-risk. The membership costs £24.99 per month (or £180 if you pay annually).


Once you are comfortable and have found your feet, you can then take advantage of their Diamond membership which grants you full access to every offer (including casino offers) and this is £39.99 a month (or £300 if you pay annually).


Considering the first two offers are worth £40, you will have paid off at least a month already before you've even got started!



How I'm Using Matched Betting To Build Wealth

As I spoke about earlier, I started Matched Betting in 2018 and made some serious cash within the first year. However at that time I was making money just for the sake of it, and ended up quitting for 18 months.


However in August 2021 I initiated "Project Restart" because I had a reason to make money now, so I can invest my profits and build long term wealth!


My initial aim is to make £300 profit per month with Matched Betting, spending roughly an hour a day on it. I may make more or less than that, but that is my target.


And after I've built up enough of a bankroll, I will start investing my profits every month, to build wealth even quicker!


You don't have to limit yourself though. Depending on how much time you can put into it, it's possible to make thousands of pounds every month. Some of the more advanced offers carry higher risk but also higher returns, however don't consider looking at those until you are super comfortable with the basics and have a big bankroll (over £10k)!


The Risks of Matched Betting


Theoretically, there are risk-free offers with Matched Betting, due to the fact that if you do the offer correctly you are guaranteed to make money.


However there is of course an element of human error, so you could lose money if you do it wrong.


Also, there are Matched Betting techniques that do involve an element of risk, such as casino offers or 2Ups. Having said that any offer on Profit Accumulator has a positive estimated value (+EV), which means that every offer they post is profitable in the long run. (If you do 30 offers that are +EV, you may lose money on 15 of them but gain it all back and more on the other 15)


Think of it this way, if you go to a casino "the house" has a positive estimated value, the casino is always going to make money out of their customers whether you win big or not. With these Matched Betting offers it's the other way around. We hold the advantage with these offers, not the bookies!


One final risk to be aware of before you start, is bookmakers gubbing you. This basically means bookies will restrict your account so you can no longer do their special offers which you are profiting from. And sometimes they go as far as to restrict your stakes.


These are whole topics in themselves, but I just wanted you to be aware of potential problems you may face during your Matched Betting career before you start.


Matched Betting Is Worth A Try, It Could Make You A Lot Of Money


Matched Betting is often labelled as too good to be true by those who have not yet tried it, but it isn't. I was sceptical at first, but took the chance. It is not "free money" as some people put it, but it is as close to it as it gets!


It's great you can sign up for free and do their first 2 offers, especially for those who are sceptical (which is most people). But once you see you've made money out of it, I'm sure it'll give you the confidence to get stuck in!


If you have any further questions on Matched Betting and how it can help you build long term wealth, you can email me contact@metalheadinvestor.com or alternatively, reach out to me on Twitter and I'll be happy to DM you about it!


Comments


bottom of page