Matched betting — an intriguing method of exploiting bookies’ promotions, that promises ‘risk-free’ profits. Let’s face it, the whole concept can appear pretty complicated from the outside. It’s no wonder that many people wonder if it’s worth the time and effort.
It’s also true that matched betting has become less profitable over the years. As with any method, the more people catch on, the harder it becomes to exploit.
But here’s the thing: even though it may not be as lucrative as it once was, matched betting still has the potential to put hundreds, if not thousands, of pounds in your pocket. And the best part? It’s completely tax-free!
So, you might be wondering, is matched betting worth it in 2023? Well, my answer is a resounding YES. Despite the challenges and evolving landscape, matched betting is still one of the best side hustles out there, for those willing to put in the effort.
Let’s dive into the details and explore why matched betting is still a worthwhile pursuit in 2023.
IMPORTANT NOTE: while I do believe matched betting is one of the most effective ways to make extra money in the UK, it’s not for everyone. If you have a history of gambling issues or you feel you could get addicted, steer clear! Matched betting is not gambling but it obviously exposes you to the world of gambling, and some people find it difficult to stop. For support, contact GamCare for free.
Is matched betting a waste of time?
Well, average hourly earnings from matched betting are estimated at between £10 and £30 per hour (tax free!) so it depends whether you call that a waste of time or not 😉
Of course, if you’re not familiar with sports or betting, it can feel like a bit of a hassle initially. The whole concept may seem intimidating and confusing. But don’t worry! You don’t actually need to be a sports expert or a betting guru to succeed in matched betting.
When I started matched betting, I had zero knowledge about betting or sports. It was an entirely new world to me. But guess what? It doesn’t actually matter. I signed up with Outplayed (formerly Profit Accumulator) and worked my way through the step-by-step video tutorials available on Outplayed. Everything falls into place when you follow the tutorial.
At the end of my first bet, I had made around £12 for maybe half an hour’s work. I still didn’t really understand everything at first but the money was there in my bank account, so you can’t argue with that!
Outplayed currently have an offer where they guarantee your earnings up to £250 when you take out a paid membership. Also, you could earn up to £40 this weekend with a free trial. So why not try it out for yourself and see if you think it’s worth it?
Remember also that matched betting is tax free. So if you’re in the standard 20% tax band, £200 from matched betting is equivalent to £250 extra in your pay cheque before tax. This fact alone makes it worth it for me.
It’s also a great choice if you’re thinking about a side hustle but you don’t want to bother with registering with HMRC and filing a tax return. Although matched betting is not gambling, the money counts as gambling wins which is why you don’t have to declare it and pay tax.
Is matched betting still worth it in 2023?
You might have come across seasoned matched bettors who claim that the offers aren’t as lucrative as they used to be. And they’re right, to an extent.
As more people discover this method, the bookmakers have become savvier and the offers have evolved. It is harder to make money than it used to be. When I started in 2016 I knew lots of people regularly making over £1,000 per month. I would say that is very tricky these days (unless you’re multi-accounting – a grey area legally and ethically that I would not recommend).
That being said, despite the diminished potential for sky-high earnings, matched betting still works and you can still make money!
Matched betting offers flexibility and the ability to work from home or anywhere with an internet connection. It can be an excellent way to generate additional funds for savings, paying off debt, or funding those little extras in life.
It’s vital to approach it as a side hustle—a way to supplement your income—rather than relying on it as a sole source of financial stability. By treating it as a part-time venture, you can still enjoy the benefits of extra money without putting all your eggs in one basket.
How much can you make matched betting in 2023?
How much can you make matched betting in 2023? Let’s break it down and set realistic expectations.
If you can spare around 30 to 60 minutes most days, a reasonable goal would be to make around £200 per month. That’s a nice little boost to your income without dedicating excessive time.
If you’re willing to delve deeper and master some advanced techniques, such as Extra Places, Price Boosts, and 2-Ups, you could potentially earn even more. Some people reportedly are making £400 to £500 or more per month with these strategies. It may require a bit of additional learning and practice, but the payoff can be well worth it.
For a more detailed exploration and further insights on maximising your earnings through matched betting, be sure to check out my full post How Much Can You Make From Matched Betting.
Remember these figures are just a rough guide and there is no guaranteed income in matched betting.
Has matched betting got harder?
Sadly, yes. Matched betting has got harder over the years.
I have been matched betting on and off and following matched betting online communities since 2016. Bookies are quicker to restrict accounts these days, and they aren’t so generous with the offers. There used to be £20 or even £50 free bet offers all over the place and now it’s more common to get offers in the range of £5.
On a personal level, you will probably find it gets harder over time as you get gubbed from multiple bookies, and also you need to put in the effort to learn advanced strategies.
But don’t lose hope! While matched betting is harder than it used to be, profit is still there to be made. It’s all about adjusting your expectations and adapting to the changes. The key is to remain flexible and open to learning new techniques that can help you maximise your earnings, if you want to keep this going in the long-term.
Even if you can’t be bothered learned the ‘advanced’ techniques, you could just do the sign ups over a month or two, make an easy £600ish tax free, then call it quits. I don’t know many people who would turn their noses up at that kind of free money.
But with the right approach and a willingness to adapt, you can still make a worthwhile income through matched betting in 2023.
So, is matched betting worth it?
In conclusion, matched betting is still worth it in 2023, but with some caveats. While it’s true that making money from it has become harder, it can still bring in extra cash. You can expect to earn around £10 to £30 per hour, tax-free, which is not too shabby.
Keep in mind that matched betting has become more challenging. Bookmakers are quicker to restrict accounts, and the generous offers we once saw are now rarer. But don’t fret! By adjusting your expectations and putting in the effort to learn advanced strategies, you can still make a profit.
So, if you’re looking for a legitimate way to earn money from home, matched betting is worth a shot. Just remember to treat it as a part-time gig and not rely on it as your main income. With the right mindset and some dedication, you can still enjoy the benefits of matched betting in 2023.
If you haven’t got started yet with matched betting, Outplayed.com are currently guaranteeing your earnings up to £250 when you take out a paid membership. Alternatively, make up to £40 with a free membership.