Is it still possible to make money from matched betting in 2020? You bet it is! It is very much still possible to make money from matched betting this year. Despite less sporting events being held in the UK, you are still able to bet on events in different countries, and different sports to the usual.
If anything, matched betting is a brilliant (and tax free) way to increase your income during this unstable year. Many people make hundreds of pounds a month from matched betting, so let’s see if we can help you to do the same using this guide to matched betting in 2020.
Guide to Matched Betting 2020
When reading this guide to matched betting, do keep in mind that although placing matched bets in itself is risk free- it’s a risky way to make money if you have ever been addicted to gambling, as you could get tempted to gamble your money on these platforms. Please steer clear if this is you!
How to Start Matched Betting
To make matched betting simpler, you’ll want to use a service like Profit Accumulator. Profit Accumulator is a website that gives you all the materials that you need to succeed with matched betting, including step by step videos to show you the exact process of how matched betting works.
Thankfully, you don’t need to know anything about betting or sports before you get started. Matched betting can seem a little daunting at first, which is why Profit Accumulator is such a great tool. You can go onto their website and watch the video guides which explain all of the terminology, what matched betting is and use their helpful matched betting calculators. Personally, I wouldn’t attempt matched betting without the help of a service like Profit Accumulator.
Profit Accumulator offer a free trial where you can test the waters and earn up to £45. This is a great chance to learn the ropes, and quickly make some extra money!
After your free trial ends, the monthly membership is £17.99. And the good news is that you will have already made the money for the first month’s membership once you complete the free trial! If you try matched betting and love it, you can save a little money on your membership and get the yearly membership for £150.
How Does Matched Betting Work?
Matched betting works on the concept that you bet on both outcomes of a real sports match, race, or event. For example, if there was a football match and Chelsea were playing, you would place a bet for Chelsea to win AND place what is called a ‘lay bet’ for Chelsea to not win (i.e. for Chelsea to lose or draw).
Let’s say you sign up to a betting site such as Coral, who (as an example) might be offering an introductory offer of a £20 free bet. This is credited after you have placed your first qualifying bet of £20. (To start with, you will use £20 of your own money to place your bet on Chelsea to win the football match).
Then, you will go to a betting exchange such as Smarkets or Betfair to place the lay bet (Chelsea NOT to win the football match) also using your own money- this means that you will win on one site and lose on another. This balances out- you haven’t lost any money, but you haven’t gained any money.
You will start to make money when you have your free bet credited (with Coral in this example) and then repeat the process to continue to make money from matched betting.
What are the benefits of using Profit Accumulator?
The reason Profit Accumulator is an essential part of matched betting, is because this service helps facilitate this process by giving you an extensive list of available offers (e.g. sign up offers with betting sites). In addition, the site also provides you with a list of the best bets available at the given time to maximise your profits.
Profit Accumulator also has a handy matched betting calculator to show you how much you need to ‘back’, and how much you need to ‘lay’ on the exchanges. It’s pretty hard to earn money from matched betting without this service from Profit Accumulator!
Thankfully, the amount of money that you are able to make from matched betting will far surpass the amount of money that you’ll need to pay out for your monthly membership costs. Particularly as all money earned from matched betting is tax free.
Since you always bet on both odds, matched betting is completely risk free, which means that as long as you follow the instructions from Profit Accumulator carefully, you will never lose money. You are guaranteed profits.
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Guide to Matched Betting- Top Tips
Keen to get started? Here are some top tips to help get your matched betting journey off to a brilliant start.
Open a separate bank account
Opening a separate bank account and using a separate email address is one of the best things that you can do when you start matched betting. This is because money will constantly be going in and out of your accounts as you place bets. Without a separate account, it will be difficult to be able to keep track of how much profit you have been making.
Start with a decent amount of cash if possible
If you are able to start with a pot of around £200, you will be able to complete more offers, and in turn be able to make more money. If you start with £20, you’ll still be able to get started, but your progress will be a lot slower as you will take longer to work through the offers as you won’t have the capital there to make the initial bets.
Take your time
If you have never done matched betting before, it’s important to take your time to get acquainted with the Profit Accumulator platform, and work through the offers step by step. You don’t want to rush and make a mistake.
Luckily, Profit Accumulator have a ton of helpful videos and tutorials which you can use to make sure that you are doing everything correctly.
Lastly, the top tip for matched betting is to avoid the temptation to gamble. Matched betting should be used as a risk-free way of earning money through placing bets. It should not be a gateway into gambling for recreational purposes. If you begin to fall into these habits, it could be a sign to take a step back from matched betting.
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Matched Betting FAQ
Why is matched betting income tax free?
Matched betting is tax free because in the UK, any profits from gambling are tax free. Since matched betting is classed in this category, any profits earned from matched betting are also tax free.
Is matched betting legal?
Matched betting is completely legal. It is perfectly fine to place bets and profit from them in this way. Matched betting is a totally legitimate way to make some extra money.
Is matched betting too good to be true?
Although you might hear of some people earning thousands of pounds a month from matched betting, it’s more likely that you’ll be able to earn a few hundred in reality. This doesn’t mean that matched betting is too good to be true however! It’s still a brilliant way to make extra money- and you can do so from the comfort of your own home!
I’ve never placed a bet before- can I still do matched betting?
You can certainly make money through matched betting even if you’ve never had an interest in sports or placed a bet before. Luckily, Profit Accumulator have so many helpful videos on how to get started on matched betting- as long as you follow the instructions, there is absolutely no reason why you can’t make some money from matched betting.
If you’d like to give it a try, sign up to the Profit Accumulator free trial to complete your initial bets for up to £45, and see how you feel!