Matched Betting Tips for beginners
I recently wrote a post on how I had already made over £4,000 with Matched Betting. I’m so happy I gave Matched Betting a try as it by far the easiest and most profitable way of making money online that I have tried so far. Even better is that it is tax free and you can start with as little as £50 -60. It can be daunting at first to understand how it works but there are many sites out there that talk you through everything you need to know ( I recommend signing up for a free trial at Profit Accumulator). I have learnt many things during my time doing Matched Betting so I thought I would share my 5 Matched Betting Tips for beginners…
Sign Up for Bookies through Cashback sites
Cashback sites are great for matched betters as so many bookmakers and bingo sites are listed on them. You receive cashback whenever you sign up for a bookie via a Cashback site such as Topcashback or Quidco. That means you are receiving money in addition to the money you make from the sign up offer! Always check whether the bookie you are about to sign up for is listed on a cashback site before you do so. They are usually listed under Entertainment and Leisure on most cashback sites. Don’t forget to check the requirements for qualifying for cashback, they will usually require you to deposit and place a bet which is fine as that is what you were going to do anyway as part of the sign up offer. There are also many bingo offers on cashback sites that require you to spend a certain amount of money to qualify and if the cashback amount is equal or greater than the required spend then they often worth doing. When I first started Matched Betting I completely forgot about signing up through cashback sites and I could kick myself for all the extra cash I missed out on!
Mug Betting is so so important when it comes to Matched Betting! Mug betting refers to the fact you need to place regular bets that aren’t part of any offer so you look like a regular punter. You don’t want to look like a customer who only signed up to take advantage of the bookies free bets and other promotions (Even though that’s exactly what you are!). If a bookie suspects you are only using your account for promotions then you might get ‘gubbed’ which is when the bookie restricts you from taking part in any of their offers. You are normally notified about this by email. Once you are gubbed then you essentially need to kiss goodbye from that Bookie as there is no more money to be made with that bookmaker. I’m not sure exactly how they notice people only doing promotions but I guess they use some sort of algorithm. Unfortunately I was not careful enough about mug betting when I first started Matched Betting and so lost some of my accounts. It is therefore vital to do mug betting as the longer you can hold on to a Bookie the more profit you can make! Mug betting is like placing your qualifying bets when you do an offer as you are placing a bet and then laying it on a betting exchange. You only make a very small loss with each bet so there’s no excuse not to be mug betting.
Use a Separate Bank Account
I would definitely recommend using a separate Bank Account for Matched Betting. It makes it easier to keep track of money to and from bookies and to for knowing how much is in your Matched Betting float. Another reason for using a separate account is that you may not want transactions to bookmakers to show on your main bank account, for example if you plan on applying for a mortgage in the near future. Many banks offer basic bank accounts that you can use for Matched Betting, I myself opened one with Barclays which was easy to do.
Track Earnings and Bets with a Spreadsheet
I personally would be lost without my Matched Betting Spreadsheet! Every bet I place I will record on my spreadsheet which allows me to see my profit. There’s nothing better than seeing my total profit cell increasing each week! With Matched Betting you will be placing a lot of bets so its very important to keep track of everything or you may forget about an upcoming free bet or to finish an offer for example. I downloaded a spreadsheet already set up for Matched Betting called Ultimatcher. You can read a useful guide to getting started with Ultimatcher here on The Money Shed Blog and then follow the link to download.
Check Junk Email Box
When you sign up to the many Bookmakers and Casino Sites you will need for Matched Betting, you will inevitably get lots of emails. Whilst you may already know about an offer from whichever Matched Betting platform you use, sometimes additional or invitation only offers are sometimes emailed to you. I found that some emails would go to my junk email folder so it’s a good idea to check regularly in case you’re missing out on making even more money.
I hope these 5 Matched Betting tips for beginners have been useful. Please also check out my post for getting started with matched betting here. I wish you good luck on your Matched Betting journey!