A few days ago I hit a major milestone in my side hustle journey…
I made my first £1,000 from matched betting!
Matched betting is a way of making money from home using bookmakers’ special offers.
It took me just under 12 weeks from placing my very first bet to reaching the £1,000 mark.
The power of extra income
This is just a phenomenal feeling for me. Before I started my side hustle journey and learned about matched betting – just three short months ago – I worried about money all the time.
I was always stressed, always moaning about being underpaid, and did not know of any other way to make money. I basically felt completely powerless when it came to money.
A few weeks after hearing about matched betting and here I am:
£1,000 is a serious amount of money to me and it literally feels like I pulled it out of thin air. It is the best feeling to know that I have taken control of my financial situation and that I now have a regular source of extra income each month, so long as I keep putting aside a few hours a week in my evenings and weekends for it.
Making money every day
The crazy part is…
£1,000 in 12 weeks is not a lot of money by matched betting standards.
Some people in the forums of the matched betting service I use (Profit Accumulator) are regularly making over £1,000 every month. In fact, Profit Accumulator has a members-only forum thread where the staff post exactly which bets you need to place each day to make £1,000 each month.
The Profit Accumulator forum is my favourite matched betting forum by far, by the way. There are always experienced betters and staff on hand to talk you through any questions or confusion. It’s also a great way to stay up to date with special offers.
Anyway, the main reason I didn’t hit the £1,000 mark quicker is that I am only using PayPal for matched betting, to keep bookie transactions out of my bank statements until I get a mortgage.
A lot of bookies don’t accept PayPal, which means I have only actually been able to take part in about a third of the offers out there. I’m looking forward to getting the mortgage sorted so I can take advantage of the rest of the sign up offers!
Oh, and by the way – matched betting earnings are all tax free in the UK! 😉
Although matched betting is not gambling, the money technically counts as ‘winnings’, which you don’t have to declare.
What is matched betting?
In case you haven’t heard of it before, matched betting is an amazing way to make money from home by taking advantage of the free bet offers that all the bookies do. You know – things like ‘Bet £10, get a £30 free bet’.
Matched betting is NOT gambling.
If done correctly, you should make money each time.
It’s completely legal, and what’s more, it’s tax free.
How to take advantage of free bets
The thing that makes matched betting different from gambling is that we balance out each bet we make by placing an opposite bet (this is called a ‘lay bet’) on a different website.
We use special software available from a service like Outplayed (the one I use; previously known as Profit Accumulator) to calculate exactly how much to bet and where.
This means that our two ‘matched’ bets balance each other out, so we don’t lose any of our own money. But we do make profit from the free bet.
If you’re interested, I recommend heading over to their website and having a look at the free training videos.
Let me know how you get on, and I hope you see your first £1,000 soon too!
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