Following on from my Frugal February post I was going to write Money Saving March but as it turns out March has been the month of Matched Betting. As a result I’ve decided that instead of writing about how I’ve done this month, I’m going to write about how anybody can substantially top up their maternity pay with very little effort, through matched betting.
I cam across Matched Betting years ago when I read some posts on money saving forums about people making silly amounts of money for very little effort. If I’m honest, I didn’t believe it. There’s always a catch with these things so I didn’t allow myself to be drawn in. However, this month I decided to take £10o of the money from my car sale and give Matched Betting a go, the result was astounding. In just one month I’ve made over £900!
So, what is Matched Betting? In a nut shell, it’s a way of taking advantage of bookies who are trying to entice you into losing your money with them! There are masses of online bookies out there and they are all fighting over the same customers. In order to lure you in, they offer you free bets, for example, if you bet £10 with them they will give you another £10 to make another bet. Now, it’s not quite as simple as putting £10 into an account, them giving you another £10 and then you drawing £20 out (if only it was) you have to place bets worth the full £20 before you can draw any money out and if you were betting in the traditional way there would be a chance that you could lose the lot and end up £10 down.
Luckily with matched betting you’re not actually risking anything. When you place your first bet of £10 with the bookie you then go into an Exchange (Betfaire being the most reliable) this allows you to place a second bet called a lay bet. Lets say you’ve bet your £10 on Liverpool to win against Manchester United, can you tell how much I know about football? Luckily you don’t need to know anything about sport to do Matched Betting. You would then go into the Exchange and place a lay bet on Liverpool for the same game. What has this done? Well, when you bet on Liverpool with the bookie you were betting that Liverpool would win the match. When you placed the lay bet in the Exchange, you were betting that Liverpool would do anything except win the game (ie lose or draw). So now if Liverpool win, you’ll win with the bookie and lose with the Exchange or vice versa, cancelling the bets out so that you’ve neither won or lost any money.
The next stage of Matched Betting is where you actually make some money. You now have a £10 free bet, you have to bet it but you don’t want to risk coming away with nothing so you place a second bet in the same way as the first. This time we’ll use horse racing. You go onto the bookie and bet that Red Rum will win the Grand National… You guessed it, I know nothing about horse racing either. You then go into the Exchange and place a lay bet against Red Rum. Again, your bet with the bookies is that Red Rum will win the Grand National, your bet with the Exchange is that any horse except Red Rum will win. As a result the bets will cancel each-other out and whatever happens you will either end up with the free bet turned into money either in the bookies or in the Exchange. Either way, you can now draw it out as cash and all you had to do was place two quick bets.
Hopefully that explanation made sense but if it didn’t don’t worry, if I’m honest it didn’t entirely make sense to me to begin with so I signed up with something called Profit Accumulator. Profit Accumulator is a programme which makes it possible for anyone to do matched betting. It tells you what deals are available, how to make money from them and even has videos showing you exactly which buttons to press. It also has a look up system which tells you exactly which football matches or horse races to place your bets on to make the most money.
I admit that when I heard about Profit Accumulator I was hesitant to part with the £17.99 per month sign up fee in case I ended up losing that money but they have a free trial which takes you through your first two matched bets which they claim will earn you around £45 so I decided to give it a go and at the end of it I just couldn’t believe it had worked. I had literally watched the tutorial video for each match bet and done exactly as I was told. The only way it could have been simpler is if they had done it for me!
Because I was so impressed with Profit Accumulator I have become an affiliate of theirs. If you fancy giving Matched Betting and the Profit Accumulator free trial a go, please click the link above as I will get a few pennies for referring you.
So, that is how to substantially top up your maternity pay with very little effort with Matched Betting but before I end this post I do want to add two things you may want to keep in mind when you start.
Speculate to accumulate is the phrase that comes to mind when I think about Matched Betting. The more money you have in your matched betting pot, the more money you can make. I started with £100 but you can start with as little as £50 or as much as you like. The money you start with is safe, you do not risk it at all but the more money you have the higher odds you can take and the more bets you can place.
You cannot lose money with Matched Betting but you can with human error. If you forget to place both a bet with the bookie and the lay bet with the Exchange or if you accidentally place the wrong bet or lay and don’t realise until it’s too late, there is a possibility that you could lose money so do double check your bets and lays, just to be on the safe side.
If you’ve tried matched betting either in the past or as a result of this post, let me know how you’ve done. I’ve been told that my months earnings of £900 is quite conservative so I’d love to hear if you’ve beaten me!