I was able to use matched betting to build a sports trading bank of approximately €2,000 to use to trade on Betfair (one thing to note is that sign up offers were much more generous back then, however, there are still €500+ in free bet sign up offers available today.
What is Matched Betting?
Matched Betting involves using free bet sign up offers offered by big bookies like Bet 365, Paddy Power and William Hill in conjunction with a betting exchange account to lock in a profit on your free bets.
You can usually lock in around 60-70% of the value of the free bet each time you complete a sign up offer.
Therefore the more accounts you sign up for, the bigger your matched betting bank will grow.
Once you have completed all the sign up offers, you will also receive reload offers from time to time.
These reload offers won’t usually be as lucrative as the sign up offers but you should be able to bring in a modest income each month from these reload offers.
This income is nice to have but is nothing to shout home about.
You will definitely have a honeymoon period with match betting as the profits at the beginning are great but the problem with matched betting is that this doesn’t last.
You will find that as the months go by, your monthly income from matched betting will fall as you get gubbed by some of the bookies.
There are steps you can take to avoid being gubbed but often these will only delay the inevitable.
However, these tactics aren’t really matched betting and come with their own risks such as being gubbed by the bookie or casino.
How to Start Matched Betting?
You have two options when it comes to matched betting.
You can either do it all yourself or you can sign up for a matched betting service that will guide you through the entire process.
The DIY Option
It is quite possible to do matched betting without the need of paying for a paid matched betting service.
This is what I did when I first started matched betting back in 2007.
However, I only signed up with the big name bookies and I didn’t go near any of the casino offers at all.
I build a bank of approximately €2,000 from the sign up and reload offers, and then I used the funds to start my sports trading journey.
I didn’t come back to matched betting until 2019 when I decided to sign up with a matched betting service.
As you imagine, the DIY option is a lot more manual as you will need to spend more time finding good sign up offers, checking the terms and conditions in order to check whether the offer is worth doing, and spending time looking for close matches for your qualifying and free bets.
The main advantage of the DIY option is that it is free but there is a greater risk of making a costly mistake (especially if you are new to online betting).
This is why many new matched bettors opt for a paid matched betting service.
Paid Matched Betting Service
After I had completed the sign up offers in 2007, I didn’t really think much about matched betting until the middle of 2019 when I read a review on a website for one of the paid matched betting services.
I decided to give matched betting another go and I was able to make around €3,000 from sign up offers as this time I signed up with casinos as well as any bookies I hadn’t already an account with (it’s amazing how many bookies are out there).
The €3,000 was definitely more than I had expected to make but it was mainly due to me hitting a couple of big wins on the casino sign up offers which helped boost my bank with my biggest win being on the BoyleSports Casino welcome offer where I won approximately €800.
I have also been able to make at least €250 a month from reload offers which is nice as I don’t put in a ton of time into matched betting each month.
I definitely think I could make more if I spend more time on it but I am busy with other projects that I think in the long run, will be more profitable for me.
Matched Betting is definitely a great way to Build a Bank for Sports Trading and has helped me to supplement my sports trading income.
I especially found it useful at the start of my sports trading journey as often my losses on sports trading would be canceled out by my profits from matched betting.
This helped me to stick with sports trading until I found a profitable trading strategy that worked for me.
I would also recommend that going through the whole matched betting process is good for anyone who is completely new to betting exchanges and sports trading as it will help you to learn the ropes of placing back and lay bets on a betting exchange.
In terms of whether you choose the DIY option for Matched Betting or you opt for a paid service, I would recommend that if you are a complete beginner then paying for a matched betting service will be worth it as they will give you a dummies guide to completing all the offers and it will save you time by giving you access to an odds matcher to find the best odds for all your qualifying and free bets.
If you want to learn more about Matched Betting such as profiting from casino advantage play, and learning how to take advantage of football 2 up offers and horse racing extra place offers, then you can check out our ultimate matched betting guide for beginners.