How much money do I need to get started with matched betting?

By February 6, 2018Matched Betting
Making money with matched betting

Matched betting is one of, if not the most popular way to make money online. There are thousands of people already using this technique to great success across the United Kingdom. No risk matched betting is brilliant for those looking for a little extra income each month, like students and stay at home parents.

Matched betting is one of the most profitable ways to make money online and doesn’t require much time once you’re started. Most of our members spend about an hour each day completing the latest offers. Going at it alone is a perfectly viable option however, you’ll spend a lot of time searching for the latest offers. Assisted matched betting is a far more profitable solution.

If you’re like me, you’re probably thinking this sounds awesome. But how does matched betting compare to other money making opportunities?

Matched betting vs other money making opportunities

There are hundreds of methods to make money online but few require as little start up costs as matched betting does.

Starting a website or online business is an incredibly well documented method. Search Google for ways to make money online and you’ll definitely find ‘start a website’ somewhere in the results. Whilst I’m not criticising these writers, I’m incredibly ambitious myself, starting a website is not for everyone. The capital required is huge and often unrealistic for a lot of people.

Sometimes people are looking for a more realistic answer to making money online. This is where matched betting fits in brilliantly. I’m not here to say matched betting is going to make you a millionaire. It’s really not. That’s not what it’s about. This method is about making a great second income online to supplement your existing income or to help you through student life.

How much money do you need to get started with matched betting?

This is a common question and one that is essential to matched betting success. But don’t worry, we’ve done some research and found out the perfect bank balance required to start your matched betting journey.

In short, we recommend members start with £200. Let me explain why.

Matched betting is all about making risk free profits from bookies free bets and promotions. To do this, we use a method called back and lay betting which involves placing two opposite bets (one back bet and one lay bet). We work out the exact stakes, using a matched betting calculator, to cancel each bet out. Therefore, we end up where we started.

This would be pointless if there were no free bets, but thanks to the incredibly competitive betting industry, there are hundreds available. Therefore, as we’re using free money, we make a guaranteed profit.

To maximise our income from each free bet, we need to pick high back and lay odds (this isn’t the same with qualifying bets). The higher, the better. The comparison below shows why.

In the first screenshot, we placed our £10 free bet at back and lay odds of 2.0. You can see we’ll make a guaranteed profit of £4.95 regardless of the outcome.

In the screenshot below, we placed the same £10 bonus at back and lay odds of 8.0 (higher than the first example). In this bet we’ll make a profit of £8.60. A considerably more profitable outcome, simply by placing our bets on a market with higher odds.

Increased winnings and losses

But with this comes increased winnings and losses. Without getting too technical, it comes down to the liability. This is the amount we stand to lose at the betting exchange, should our bookie bet win. In the first example our liability is £5.05 (the first red figure in the results section). Compare this to the second example where the liability has increased to £61.40, a considerably higher amount.

This isn’t a bad thing. With matched betting, we cover all outcomes, so if your bet loses at the betting exchange, it will win at the bookie and vice versa. There is no risk involved. It just means you need a higher bank balance to cover the bet. The betting exchange won’t let you place any bets unless you have the required liability in your account.

If you wanted to, you could pick lower odds and therefore a reduced liability. However, we want The Sure Bettor members to maximise their earnings from matched betting. In general, we recommend matched bettors extract 80% from each free bet. So from an £100 bonus we’d aim to extract £80. This is usually not possible by picking lower odds.

That’s why we suggest you don’t start with any less than £200. There’s very little point. Anyway, it’s incredibly easy to get your hands on £200 even if that means borrowing from a family member. You may even get them started with matched betting!

Why £200?

£200 is a very round number you’re probably thinking.

You’re right, it is. However, after doing some research into how much money people started matched betting with, how profitable their first few offers are and how quickly they complete their first few offers, we’ve come to the conclusion that £200 is the lower end of what people should begin matched betting with. Any less and we think you’ll struggle to extract 80% out of larger free bets.

However, as we’ll come onto in the next section, the more the better.

Don’t stop there

Wait, I have more…

There’s always one! As we’ve already mentioned, the more money you have available, the more you’ll be able to make from each matched betting offer. A larger bank balance also means you can start completing multiple offers at the same time. If you’re waiting for one event to take place and for your matched bets to settle, there’s nothing worse than not being able to take advantage of another matched betting offer. That way you can start completing reload offers more quickly.

Whilst keeping track of multiple bets may seem a little complicated for matched betting beginners, you’ll soon be able to manage this. It’s all about knowing which bets you’ve placed where and when they settle. That’s why we recommend you use a tracking feature like we offer our members at The Sure Bettor. Check out our article on tracking your matched bets for more information.

Give matched betting all you’ve got

All in all I recommend you start with at least £200. Any more than that is awesome but I wouldn’t start matched betting with any less. I think you’ll struggle to extract 80% from each free bet, especially the larger ones. With a larger betting balance you’ll also be able to move on to reload offers more quickly which is where the long term profit is made with matched betting.

Matched betting is hands down the most profitable way to make money online, so we suggest you give it everything you’ve got when you get started. You won’t regret it!

Thanks for reading everyone

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About Charles

Charles is the founder of The Sure Bettor. He built the company with the aim of 'getting the word out' about matched betting.

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