3. I Got Questions, Yo!
matched betting FAQ
– Understanding matched betting series part 3 of 4
You’ve arrived at this page because you have some questions or concerns about matched betting, or you want to learn more about matched betting. Please watch the video above and read the below matched betting FAQs which I hope will answer all your questions.
Is matched betting a scam?
No. Matched betting has been around for a long time. People have been making money from matched betting since around 2005.
I am a matched better myself. Check out my matched betting blog here.
Is matched betting illegal?
It is legal and is not against the law. We are simply taking advantage of offers from the bookies. All winnings from matched betting are also tax-free.
Is matched betting a get rich quick scheme?
No. You will not become a millionaire doing matched betting. It is not a get rich quick scheme.
Matched betting is a steady 2nd income. Very casual matched betters earn around £500 a month, while the average earn per month is £1,500. Some of the full-time matched betters earn more than this.
Are bookies ok with matched betting?
Some bookies are fine with matched betters as they have more people betting with them. At the end of the day we want our bets to lose to the exchange ideally, so we will be in their eyes losing customers.
Other bookies, mostly smaller ones, do not like bonus hunters as it hurts their profits and they will sometimes restrict bonus hunters from future offers but keep your accounts open. To combat this we have matched betting strategies to keep our accounts healthy with the bookies so that we continue to receive free bets and offers.
How much money do you need to start matched betting?
You can start from as little as £30-£50.
The first offer on the free trial is a £10 free bet, you will need that amount to make the bet and some money in Betfair or Smarkets in order to lay the qualifying bet and the free bet off.
But you can start with a bigger float if you wish. The larger your starting float is, the quicker it will be for you to move through all the basic sign up offers as you will not need to wait for withdrawals to come back to your bank account.
Does it take too much time?
Matched betting isn’t very time-consuming. Once you have done a few of the offers and have had some practice matched betting, each offer can be done within a few minutes.
But like most things, the more time you put into something, the more you will learn and earn. Spending some time reading and learning more about matched betting on the forums is recommended.
Some of the advanced sign up offers and the weekend horse racing offers can take up a bit more time but they are hugely profitable.
What if I’m too busy with my other hobbies?
Matched betters still lead full and varied lifestyles much like everyone else, they just use their profits from matched betting to pay for their hobbies!
Some level of self-motivation and a get up and go attitude is required though. If you don’t do all the offers and put some time in, you won’t earn as much money as you could.
Matched betting can be done on a full-time, part-time or a very casual basis. You can still earn money even if you have little time to dedicate.
What if I don’t like sports?
Being a sorts fan can help. As an interest in sports can make it more fun. You can do the offers and watch the games on TV at the same time.
Some matched betters are not sports fans at all though! But what you are actually doing is just using the matched betting strategies and placing bets online and anyone can do this even if they have no interest in sports.
They don’t like sports, but they like making money!
What if I’m not good with maths?
You don’t have to be. You use the simple to use matched betting calculator tool which spits out exactly what you have to bet, and how much profit you have made.
What if I’m not good with computers?
If you can use a computer to a basic level, and have a willingness to learn you will be fine matched betting.
Make sure that you watch the training videos properly, and take your time with your first few offers and read the forum thread on each offer before doing it so that you don’t make any mistakes and fully understand the process before you do your first offer.
You will become faster putting on bets and using the calculator once you have done a few offers.
What if I have an addictive personality?
What we do is not gambling. We are not betting without their being a guaranteed outcome in our favour.
The matched betting service does put up risk free casino and slot offers. These are usually totally risk free, or very low risk with a huge advantage for us. If you feel you could become addicted to offers like these you can self restrict yourself from doing these kind of offers on the forum.
What if I already have a few betting accounts?
You may already have some betting accounts that is fine. You might even have both of the sites in the free trial, but that is not a problem. There are many more bookmaker offers than you can imagine that you will be able to do the sign-up offers on.
There are also the regular reload offers that you will be able to take advantage of on the accounts you already have!
Some bookmakers are also partner friendly. The bookies often change their terms so keeping a list is hard work but an updated partner friendly bookie list will be provided here shortly. What I can say is bookies like Skybet, Stan James, Coral, Betfred and William Hill seem to be fine with partners at the same address having an account as well, as long as different bank details are used. (as @ 17/01/16)
Will it affect my credit rating?
Bookies do not perform credit checks, so your credit score will not be affected by matched betting.
I would recommend that you use a different bank account for the use of matched betting that is not your primary account. This is just to keep your bankroll separate from your normal money and will also avoid bookies showing up on your bank statements when you want to apply for a mortgage for example.
Do I really need an assisted matched betting service like the one you promote?
You could go it alone and collect some basic sign up offers yourself. However, I can guarantee you that you will not find even 25% of the sign up offers that are available on the matched betting service. There are many reputable UK bookies with sign up offers that I had not even heard of when I completed the sign up offers.
There is also the regular offers, and reload offers. These are sourced for you and updated regularly multiple times per day. These offers are placed into one neat section for you together with detailed instructions, videos and a forum thread for each offer so you read exactly how other people have done the offer.
A big factor is that you can avoid pitfalls by joining the service, as some of the non-UK and dodgy bookies are totally avoided and detailed as such. Meaning you only do offers with solid bookies with great reputations, and therefore no risk to your money. Reading the comments on the forum thread of each offer before you start the offer can also help you avoid any mistakes and find out the very best way to do each matched betting offer.
You also have access to their matched betting calculator and oddsmatcher tools. Not to mention, the website and forum hosts a wealth of information and strategies that you just would not learn by yourself.
Finally, matched betting can be a lonely thing to do. As your on your own placing bets on your computer. Joining the service with its 20,000+ members brings you together with other matched betters. There is a social element and a community spirit on the forums with many people more than willing to help.
My favourite aspect of the matched betting is the community, I love the community because its a REAL community, not just a ton of awesome training. It’s more than that. It feels like a place to hang out and share too.
There is nothing better than surrounding yourself with people who get you and your dreams in order to keep you motivated on making regular profits each and every month.
What help is available to me if I decide to start matched betting?
You are more than welcome to leave any comments or questions on this page below, or email me personally via our contact form here and I will be glad to help and support you if you sign up to the matched betting service free trial through our link.
If you are unsure on any aspect. Or have a particular question, you can also make a post on their forums and have it answered usually within minutes by the staff or other forum members who are always willing to lend their help. They also have official support tickets you can submit and even a telephone line you can ring if you get stuck on anything.
How do I get started?
NEXT: To learn more about how to get started with matched betting click here for part 4 in this article series.
Understanding matched betting series part 1 of 4: What is matched betting?
Understanding matched betting series part 2 of 4: How can I learn matched betting?
Understanding matched betting series part 4 of 4: How do I get started with matched betting?
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