Matched betting has grown in popularity over the past few years, and for a good reason! It is a great way to make extra money.

However, like with anything, matched betting has its pros and cons. In this blog post, I will list them all so that you can decide if matched betting is right for you!

So, whether you’re considering trying matched betting or just want to learn more about it, this blog post has got you covered!

matched betting pros cons

Disclosure: Comparism is reader-supported; this article contains affiliate links that might earn a small commission if you purchase a paid membership, at absolutely no extra cost to you. For more information, you can read my affiliate disclosure. This article is for information and entertainment and is not financial advice. The amount of money you make from matched betting depends on the time and effort you put in. Results can vary. There is no guarantee of specific results.

Pros of Matched Betting

1. All Profits from Matched Betting are Tax-Free

The biggest advantage of matched betting is that it is tax-free! That means you keep all of the profits that you make from it.

Here’s why:

Any money you make from gambling is tax-free in the United Kingdom. This includes winnings from online casinos, sports betting, lotteries, and more.

Now:

As you’d already know, matched betting is mathematically risk-free, and you aren’t technically gambling when you’re matched betting.

With gambling, you’re trying to beat the odds. In contrast, with matched betting, you’re taking advantage of offers and promotions that bookmakers offer and using simple mathematics to guarantee a profit.

But, any winnings from match betting fall under gambling winnings. And, as per UK law, gambling winnings are tax-free. You do not need to declare your matched betting profits as a second income to the HMRC.

So, if you are based in the UK and are looking for a way to make some tax-free money, matched betting is a great option!

If you’re not in the UK, it’s still very likely that your profits from matched betting are tax-free. Other countries have different tax laws, so it is important to check with your local government website to see if you will have to pay taxes on your matched betting profits.

Don’t Miss: Why Isn’t Everyone Matched Betting? (Top 9 Myths)

2. Matched Betting is Mathematically Risk-Free

Matched betting is a popular way to make money online, and it’s often touted as being “risk-free.” That’s because, with matched betting, you’re essentially using bookmakers’ free bets and bonuses to guarantee a profit, so it’s indeed mathematically risk-free.

By backing and laying your bets, you’re covering all of the possible outcomes of an event and making sure that you come out ahead no matter what.

While it is possible to lose money with matched betting if you make a mistake, the risks are relatively low.

And in most cases, the mistakes can be fixed. For example, Profit Accumulator has a calculator dedicated to fixing mistakes and is rightly called the Fixabet calculator.

I was very sceptical when I was on the fence about trying matched betting. I thought there was no way something could be completely risk-free.

But, after doing some research and giving it a try, I experienced the risk-free element of matched betting for myself! And made £1200+ testing the matched betting phenomenon. (Check out: Is Matched Betting Still Worth It in 2022?)

Of course, there is always a small chance that something could go wrong and mainly, the risk comes from human error.

For example, you could lose money if you accidentally place a bet on the wrong market or don’t follow the instructions correctly when placing a lay bet.

But, as long as you are careful, do your research and follow the instructions correctly, matched betting can be an easy way to earn extra cash with minimal risk.

You can avoid human error by using a matched betting software like Profit Accumulator, which does all the hard work for you.

Full Access for £1
Profit Accumulator (Platinum Trial)
7 Days for £1 (Full Access)
Get Full Access Now
We earn a commission if you make a purchase, at no additional cost to you.

I have made many different mistakes during my experience with matched betting. But, by following the instructions on Profit Accumulator and using their dedicated Fixabet calculator, I was able to fix those mistakes and am still in £1200+ profit overall.

I would have made an extra £100ish on top of the £1200+ if I had not made any mistakes, but that’s just part and parcel of learning something new!

Recommended Reading: 20+ Matched Betting Tips and Tricks for Beginners

3. Matched Betting is Completely Legal

Matched betting is a perfectly legal way to make money in the UK and many other countries. In most cases, as long as you have bookmakers and betting exchanges in your country, you can do matched betting legally. But do check your local laws and regulations just to be sure.

Matched betting is not illegal in the UK and has never been declared as such by any court of law.

4. Matched Betting Doesn’t Require a Big Investment

Matched betting is a great way to make some extra money in your spare time, and the best part is that you don’t need to invest a lot of money to get started. In fact, you can start with as little as £50 and still make a decent profit.

Of course, the more money you have to invest, the more money you can potentially make. But, even if you only have a small amount of money to start with, matched betting is still a great option.

All you need is a computer or phone with internet access and an account with a bookmaker and betting exchange. And, of course, you’ll need to be familiar with betting basics. But if you don’t know how to bet, don’t worry – plenty of resources available online can teach you how to match bet like a pro!

5. No limit to How Much Money You Can Make with Matched Betting

Making money from matched betting is often seen as a pipe dream. After all, how often do you hear about people making a consistent income from gambling?

But the truth is that matched betting is a very real way to make money (I’ve made £1200+), and there is no limit to how much you can earn. For those unfamiliar with the concept, matched betting involves placing two bets on the same event – one bet that will win if the event happens and one bet that will lose if the event happens.

By doing this, you can make money, no matter the event’s outcome (no gambling!). And because there is no limit to how many events you can bet on, there is no limit to how much money you can make.

Of course, you will need to invest some money to get started, but once you’ve made a profit from your first few bets, you can reinvest that money and start making even more money. There are plenty of people who make a full-time income from matched betting, so there’s no reason why you can’t do the same!

6. Low Effort: Excellent Time to Reward Ratio

Matched betting is often touted as a low-effort way to make some extra money. And it’s true – compared to other side hustles, matched betting is pretty easy.

You don’t need any special skills or experience, and you can do it from the comfort of your own home.

Another big plus is that it doesn’t take long to see results. You can easily make a few hundred dollars a month from matched betting without having to devote countless hours to it.

So if you’re looking for a side hustle that won’t consume your life, matched betting is worth considering. Plus, it’s fun too (or at least, I think so!).

7. Flexible Working Hours

Not only is matched betting a relatively easy way to make money, but it also offers a lot of flexibility in terms of working hours. You can work around your existing commitments or set your hours and work as much or as little as you like.

Plus, there’s no need to find a babysitter or worry about childcare costs, as you can do it all from the comfort of your own home. So if you’re looking for a flexible way to boost your income, matched betting could be the answer.

Cons of Matched Betting

1. Overwhelming at the Start

The main con of matched betting is that it can initially seem overwhelming.

There is a lot of new information to take in, and it can be confusing trying to figure out how everything works.

People often discard it as gambling when they hear about matched betting. But, once you understand how it works and get started with a few offers, it’s actually pretty straightforward and easy.

2. It takes time to perfect your understanding

Another matched betting con is that it can take a while to perfect your understanding.

Once you get the hang of it, it doesn’t feel that hard anymore. Your first offer might take 30 minutes, and eventually, as you get used to it, it would take 2-3 minutes per offer. And the more you do it, the easier it will become. So if you’re patient and willing to put in the work, matched betting is a great way to make money from home with low effort. It has a learning curve, but it’s pretty easy once you get over that. And plenty of resources are available to help you (including the one you’re reading!)

3. Earnings can depend on the offers available

One downside to matched betting is that your earnings can depend on available offers.

Some months there will be a lot of good offers available, and you can make a great profit. Other times, fewer offers may be available, and your earnings will be lower.

This is something to bear in mind if you’re relying on matched betting as your sole source of income. However, it’s not a big deal if you’re just looking to make some extra money.

4. Mistakes Can Be Expensive

One of the potential downsides of matched betting is that mistakes can be expensive. As with anything in life, there is always a chance for human error when matched betting.

Unlike traditional gambling, where you can simply walk away from a losing bet, with matched betting, you need to be careful to place your bets correctly to avoid losses (because matched betting is not gambling). This means that if you make a mistake, it can cost you money.

Additionally, because matched betting relies on taking advantage of bookmaker offers, if you don’t check the terms and conditions carefully, you may inadvertently violate them and risk having your account closed. While matched betting can be a great way to make some extra cash, it’s important to be aware of the potential risks involved so that you can avoid them.

5. Account Restrictions

Another potential downside of matched betting is that your bookmaker might restrict or “gub” your account. This can happen if you win too much, too often, or if the bookmaker suspects you’re using a betting bot. If your account is gubbed, you’ll no longer be able to place bets with that bookmaker. This can be frustrating, but there’s not much you can do about it.

The best thing to do is just move on and find another bookmaker to place your bets with. There is plenty of fish in the sea, as they say. So don’t get too down if one gubs you – there are plenty more where that came from.

6. You Need a Bigger Bankroll to Maximise earnings

If you’re considering getting into matched betting, there’s another downside you should be aware of: you need a bigger bankroll to maximise your earnings.

That’s because, with matched betting, you’re essentially placing two bets – one on a particular outcome and one against it. This means that you need to have enough money in your account to cover both bets.

And if you’re placing bets for multiple offers, as most matched bettors do, then your bankroll needs to be even bigger. Of course, this isn’t an issue if you’re just looking to make a bit of extra cash. But if you’re hoping to match bet full-time, then you’ll need to make sure you have a sizeable bankroll to start with.

Matched Betting Pros and Cons: Summary

So there you have it – a comprehensive list of the pros and cons of matched betting.

As you can see, there are some potential downsides to matched betting, but overall the pros outweigh the cons, and it’s a great way to earn some extra cash.

The main pros of matched betting are its flexibility and the fact that it can be done from home with no limit on earnings.

There are also some cons, such as the initial overwhelm and the fact that earnings depend on the offers available. Additionally, mistakes can be expensive, account restrictions are possible, and you need a bigger bankroll to maximise your earnings.

So if you’re considering getting into matched betting, just be sure to do your research, start small, and be careful not to make any mistakes. You can soon start reaping the rewards with a bit of time and effort.

If you need help and hand-holding on your matched betting journey, I found matched betting sites like ProfitAccumulator (review) and OddsMonkey that come with useful tools and guides that proved to be a huge time saver for me.

Full Access for £1
Profit Accumulator (Platinum Trial)
7 Days for £1 (Full Access)
Get Full Access Now
We earn a commission if you make a purchase, at no additional cost to you.

Do you have any questions about matched betting? Let me know in the comments below.

And if you’re looking for more information, check out my other blog posts on matched betting. I have covered everything from beginner tips to advanced strategies and am always adding new content. So whether you’re a matched betting pro or just getting started, we’ve got something for you. Thanks for reading!

Similar Posts

Leave a Reply

You have to agree to the comment policy.