Matched Betting - A new side hustle?
How to make tax-free money from matched betting at home
My matched betting journey has only just begun, I’m almost three weeks in and already I’ve made £180.05!
What is matched betting?
Matched betting is profiting from the free bets and incentives offered by bookmakers. It's the art of placing a back and a lay bet on the same thing so you cannot lose. By betting both ways you can ensure you always make a profit.
How do you start matched betting?
The Profit Accumulator website is a great place to start, I have found it invaluable for guidance and support. I came across Profit Accumulator as it is mentioned by a lot by fellow money bloggers who all seem to give the website glowing reviews which left me intrigued enough to give it a go.
On the Profit Accumulator website you can sign up for a free trial, this gives you access to some of their resources enabling you to place your first two matched bets. There are easy to follow step-by-step instructions and by the end of your trial you should have made a profit of around £45. This is how I started by journey and I did make the £45 promised which is why I then used some of my profit to sign up for a one month membership.
I continue to be a member of the website and regularly make money from this side hustle, you can find out my latest profits in my monthly income reports.
How much money do you need to start matched betting?
I started matched betting with £200 which I ‘borrowed’ from our savings account. This seems to have worked most of the time however there have been a couple of occasions when I have had to delay placing further bets until the the money held up in existing bets has cleared.
Do I need to be interested and understand sports to take part in matched betting?
Not at all! I have zero knowledge or interest in sports and my matched betting is going well. Because you are using mathematical equations to place your bets you don’t need to have knowledge of the sports.
Is matched betting legal?
Yes, absolutely! There is nothing illegal about matched betting.
Is matched betting a scam?
No, I thought this for a while and regret this now. I kept thinking matched betting sounded too good to be true but I can honestly tell you that I have found it a genuine way to make extra money.
Do I need to declare my matched betting income to HMRC?
No, you do not need to declare any winnings to HMRC as gambling winnings are tax-free and matched betting comes under this category.
How do I organise my finances?
I have a dedicated bank account for my matched betting because I find it the easiest way to keep track of deposits, pending withdrawals and my available balance.
What are free no risk casino offers?
Many of the sports betting websites also have casino and slot game areas in which they regularly offer free spin incentives giving you the opportunity to take part without parting with any money making them risk-free. Profit Accumulator will let you know about any offers available when you log into your account so do take a look and see if there are any available to you. I find these free casino offers a super fast way of boosting my matched betting income.