Matched betting can be a great way to earn some extra cash but can seem confusing and daunting for beginners to understand.
Once you get the hang of it, you’ll be doing a lot of different offers like a pro in no time. But, to get there, there are a few tips and tricks that can give you a head start in the right direction.
In this guide, I’ve put together a list of the top 13 matched betting tips for beginners to make your early days a breeze and help you earn some extra cash.
These tips and tricks range from the very basics of matched betting to a bit more advanced concepts to help you make the most of your matched betting experience.
So, whether you’re just getting started or you’ve been doing it for a bit, there’s something for everyone in this guide.
Without further ado, let’s get started!
Best Matched Betting Tips and Tricks For Beginners
Tip #1. Take It Slow
Based on my experience, this can easily be my #1 tip for matched betting.
Matched betting is not a get rich quick scheme. You can make some good money from it, but you need to be patient and take your time.
When you’re new to the concept, it’s important to take things slowly at first. There’s no need to rush into making money and place bets without understanding what you are doing. You are more likely to make mistakes and lose money if you do that.
Instead, focus on learning the ropes and getting comfortable with the process. Once you’ve got a good understanding of how matched betting works, you can start to increase your stakes and move on to more complex bets.
Don’t get discouraged if you don’t succeed at first. Matched betting is a skill that takes time and practice to perfect. Stick with it and you’ll soon be reaping the rewards!
Related: Is Matched Betting worth it in 2022?
Tip #2. Start With a £50 or £100 Bankroll
You can start matched betting with as little as £10 or £20 and that’s okay.
But, I recommend starting with a bigger bankroll. £50-£100 is good. £200 is great.
The reason? You will need to place qualifying bets before you can start making money from free bets. With a small bankroll (say £10 or £20), you can only do one or maybe two offers and then wait for your money to be released to do the next one.
With a slightly bigger bankroll, you can do more offers in parallel and thus release your money faster and make more profit.
If you are starting with a smaller bankroll, that’s fine as well. I recommend doing one offer at a time and then moving on to the next one once you have released your money. It’ll take a little more time and will grow your bankroll to then be able to do multiple offers at a time.
Putting more seed money doesn’t make you more money, it speeds things up.
I did my first offer for £10 and as soon as I understood the process and made the free £40 from trial offers (on Profit Accumulator), I increased my bankroll to £400 to jump-start things.
I have now been matched betting for close to a year and have about £600 of my own money in (I did this to be able to have more liability on exchanges to make more profit). Don’t worry if you don’t understand this last bit for now. You will when you do your first few offers.
At the time of writing this post (Apr 2022), I have made £1021.50 in profits so far giving me a total bankroll of about £1600. I haven’t taken out any money so far. All the surplus money is in my bank account or exchange.
This brings me to my next matched betting tip.
Tip #3. Open a Separate Bank Account
If you’re new to matched betting, one of the first things you need to do is open a separate bank account.
This is for two reasons.
First, it helps to keep things neat and tidy by keeping your matched betting transactions separate from your day-to-day finances. Over time, it can be difficult to keep a track of how much money you’ve made from matched betting if it’s all mixed in with your regular spending. So having a separate account helps keep things organised.
Second, and more importantly, it can help you to avoid mortgage application difficulties down the line. If you have a mortgage or are planning to apply for one in the future, the underwriter will likely take a close look at your bank statements.
By keeping your matched betting activity in a separate account, you can avoid any potential issues that could arise from having betting-related transactions on your main bank account.
Matched betting is not gambling but you do use betting websites to make money from matched betting. And it’s possible that some banks may view your transactions as gambling and you don’t want to be in a position where you can’t get a mortgage because of it or need to answer awkward questions about it.
So, open a new bank account and use that exclusively for your matched betting transactions.
Tip #4. Use a Separate Email
One simple tip that can make the process easier is to use a separate email address for your matched betting activity.
This way, you can easily keep track of all the offers and promotions that you sign up for, and you won’t have to sort through your regular inbox to find the information you need.
Plus, it’s always easier to stay organized when everything is in one place. So if you’re just getting started, be sure to create a dedicated email account. It will make your life a lot easier in the long run!
So go and sign up for a new email address, or use an existing one that’s not your regular email, and start using that for your matched betting activity.
Tip #5. Take Advantage of Free Bets and Bonuses
There are always lots of free bets and bonuses available from bookmakers, especially for big events like the Grand National, Cheltenham Festival or World Cup.
You can use matched betting to take advantage of these offers and make some guaranteed profits. Bookmakers are always looking to attract customers and they do this by offering free bets and bonuses (reload offers).
You can use these offers to your advantage and make some easy profits.
Always check the terms and conditions of the offer before you place a bet so that you know exactly what you are doing.
Free bets usually have wagering requirements attached to them, which means that you have to place a certain amount of bets before you can withdraw your winnings.
If you are not sure what you are doing, there is no shame in asking for help from someone who is more experienced.
Profit Accumulator and Oddsmonkey have a great community of matched bettors that provide free matched betting tips and advice.
They also have step-by-step guides that show you exactly how to take advantage of each offer.
Tip #6. Double Check Everything. And Then Check it Again.
My next tip for beginners when it comes to matched betting is to always double check everything.
This means making sure that all of the information you are using, such as odds and bets, matches up, and that you have verified everything with multiple sources. It is also important to go through your calculations multiple times and check for any potential errors.
If you’re using a matched betting software like PA or Oddsmonkey, make sure that the odds that you see on the Oddsmatcher match the odds at the bookmaker site and the exchange. Sometimes, odds change very quickly and you don’t want to place a bet using the wrong odds.
By taking the time to do this, you can help ensure that your matched betting experience goes smoothly and efficiently, and minimizes any costly mistakes or confusion along the way.
So if you’re just getting started with matched betting, remember to always double-check everything – and then check it once again!
It’s better to be safe than sorry, and taking a few extra minutes to verify everything can save you a lot of time and money in the long run.
Signing up for a matched betting site can help reduce your chance of making a mistake. And that’s my next tip for matched betting.
Tip #7. Use a Matched Betting Website
If you’re looking for a way to get started or already matched betting and not using a matched betting website, I recommend using a matched betting website.
Matched betting websites provide you with all the tools, resources and information that you need to start your matched betting journey.
They also have offers for newbies that show you how to get started and how to make your first profit.
That’s how I got started.
I personally use Profit Accumulator which has helped a great deal with my journey so far. You can also check out Oddsmonkey or Profit Maximiser.
Start matched betting easily with Profit Accumulator. With over 150,000 paying customers, PA is the UK's largest matched betting community. Sign up for a free trial today and they'll help you make up to £40 in profit.
Check out Profit Squirrel if you want a service that can do matched betting for you.
Tip #8. Connect Oddsmatcher To Your Betting Exchange
When it comes to matched betting, time is money, quite literally. The more time you can spend doing as many offers you can, the more money you will make.
And calculating the lay stake and then going to your exchange account in another browser window/tab wastes a lot of time.
Both Profit Accumulator and Oddsmonkey can connect directly to your Smarkets and Betfair exchange accounts from the Oddsmatcher tool.
What does it mean?
You can lay your bets from the Oddsmatcher integration itself. And that saves a lot of time and reduces the chance of making mistakes like betting on the wrong marker or event.
Tip #9. Don’t Neglect the Exchange 0% Commission Offers
One of the best matched betting tips for beginners is to take advantage of the 0% commission offers on betting exchanges. This single tip can save you a significant amount of money in the long run.
Betting exchanges usually charge 2-5% commission on every winning bet. Zero commission the 2-5% goes back into your pocket as profit.
For example, if you won £100 from your lay bet on Smarkets, you would usually pay £2 to £5 in commission. Now, this doesn’t sound a lot but when you get regular, you will see this add up to a huge amount over time.
Here’s an example:
2% or 5% of every winning bet adds over time and because you need to lay every single bet, it’s a huge drag on your profits.
With the 0% commission offer, you would keep the whole amount you won without paying any commission!
Tip: With Smarkets, you need to place at least ONE lay bet on Smarkets using the integrated button on the Oddsmatcher software.
So how do you sign up for the 0% commission offer?
When you sign up for a Profit Accumulator or Oddsmonkey account, you can use the personalised offer link they provide to claim.
Tip #10. Get the Oddsmatcher Tool
In case you didn’t know, you can do matched betting even without using a matched betting site. You can sign up using a bookmaker’s welcome “Bet and Get” offer, do your qualifying bet and lay your bet on an exchange. It’s doable.
But I still highly recommend you to sign up for one. Why?
You’ll need to dig through hundreds of events and thousands of markets to find the best odds to minimize your qualifying losses and increase profits.
That’s where the Oddsmatcher tool comes in. It saves you the hassle.
Oddsmatcher helps you quickly find the best odds for both your back and lay bets so that you can maximise your profits. It helps you compare the odds between different bookmakers and exchanges.
If I were to pick only one reason to sign up for a match betting site, it would be the Oddsmatcher tool. It’s that useful!
It’s an essential tool for matched bettors and can save you a lot of time and effort in finding the best odds.
They make the whole process a lot easier by giving you all the information you need in one place.
You can see what markets are available, what bet to make, and how much money you can make from each bet.
This saves you a lot of time and effort because you don’t have to do all the research yourself.
So be sure to check out the Oddsmatcher tool and see how it can help you make money from matched betting!
Tip #11. Use a Matched Betting Calculator
This handy tool will help you work out how much profit you can expect to make from each bet.
You will come across situations where you need to quickly calculate your qualifying loses or profits from back/lay bets pair. That’s when a matched betting calculator comes to the rescue.
You can very quickly enter the back odds, lay odds and the exchange commission. The calculator then gives you your exact qualifying loss or profit and how much your lay stake will be on the exchange.
Tip #12. Use Multiple Betting Exchanges
Another tip I recommend you follow is having accounts with multiple betting exchanges. Contrary to popular belief, not all betting exchanges offer equal odds or features, so it is a good idea to explore a variety of platforms in order to find the perfect exchange for your needs.
Some of the key factors to consider when looking for a suitable betting exchange include the number and variety of markets available, how user-friendly the site is, and any additional bonuses or incentives that may be offered. By taking advantage of multiple exchanges, you open yourself up to access a wider range of opportunities and tools that can help you maximize your profits with every bet.
The best and the most popular ones in the UK are Smarkets, Betfair, Matchbook, Betdaq and Ladbrokes.
Profit Accumulator has a deal with Smarkets and Matchbook where you pay 0% commission on any bets you lay.
Tip #13. Don’t Gamble
Unlike traditional forms of wagering, matched betting is backed by a mathematical system that enables you to win consistently, regardless of whether or not the odds are in your favour.
Perhaps one of the most important points to remember when getting started with matched betting is not to gamble at all.
As a beginner, you might get excited about the potential wins and start making more and more bets without having a solid strategy in place, this will only lead to losses. Instead, be patient and stick to the plan.
When it comes to matched betting, you need to understand that it is not gambling. You always know how much you’ll make from each bet even before the bet settles. Unless you make any mistakes, the risk of losing money with matched betting is very minimal.
So don’t gamble.
Remember: You just happen to use gambling sites to make money from matched betting because that’s where bookmakers offer free bets and other promotions. You’re not there to actually gamble any money.
Tip #14. Don’t Get Greedy
Matched betting is a very sustainable way to make money online but it is not a get-rich-quick scheme.
You can realistically expect to make around £500-£1000 a month from matched betting if you are starting with a small bankroll of £500.
Of course, there will be months where you make more and months where you make less but as long as you stick to the offers and follow the Golden Rules, you will be on the right track to making some great profits from matched betting.
The key is not to get greedy and try to go for the big wins all the time.
It is far better to grind out a consistent profit each month than try to go for the big wins.
Matched betting is all about making small but consistent profits and that is what you should aim for.
Tip #15. Track Your Progress and Stay Organised
It is important to track your matched betting progress along the way when starting out. This will help you see how much money you are making and give you a sense of achievement as you start to see your bankroll increase.
There are a variety of different ways to track your progress, including using spreadsheets or tracking apps.
I started with the Profit Accumulator inbuilt profit tracker which lets you track your profit from each offer. But, it doesn’t let you go deep into tracking details of your bets like back/lay odds.
For that, I came across quite a few useful matched betting spreadsheets and picked the one by <>. It allowed me to track a lot of granular information for every bet I placed along with exactly which bookmaker or exchange account my money was with. That was really useful as a beginner.
But then with time, I felt it was a lot of time I was spending on tracking and I wanted to focus more on making money than tracking granular details.
So then I gave up on the spreadsheet tracking and just hung on to my original pick – the inbuild Profit Accumulator tracker and that’s the only tracker I use now. It lets me track my profits and qualifying losses along with a few other things. For me, it just works.
Even matched betting sites like Oddsmonkey have their own tracking tool that I hear is quite useful.
Whatever method you choose, have some way to track your wins and losses, so that you can get an accurate picture of how well you are doing overtime.
You could pick a tool, a tracking spreadsheet or go basic with the good old pen and paper.
Having some way to track your earnings progress, you will always have a clear overview of all your earnings and losses.
Tip #16. Withdraw Your Profits Regularly
Once you start making profits from matched betting, it is important to withdraw your money on a regular basis, whether it is weekly, fortnightly or monthly.
This might seem like common sense but you’d be surprised at how many people leave their winnings in their bookmaker or exchange account and end up losing it all back.
Again, as I mentioned in tip #1, the best thing to keep things simple is to open a separate bank account for your matched betting activities and transfer your profits over as soon as you make them from bookmakers’ sites to your bank account. This way, you can easily track how much money you are making and also ensure that your winnings are not at risk of being lost.
This will help you to stay motivated and also ensure that you are not tempted to gamble with your winnings.
If you need the funds again for reload offers, depositing it again takes only a few seconds.
I usually keep the money in bookmaker accounts only until the full offer is done and then move everything to my bank account.
Tip #17. Get Help and Support
If you are struggling with matched betting or if you just have a few questions, there is no shame in asking for help.
There are plenty of resources available to help you get started with matched betting.
Profit Accumulator and Oddsmonkey are two of the biggest and most popular matched betting sites.
They both have forums where you can ask questions and get help from more experienced matched bettors.
You can also find plenty of information on YouTube and Google.
Just do a search for ‘matched betting’ and you will find plenty of helpful videos and articles. Like you came across this one where I share the knowledge I gained over the last year of match betting!
You can also drop me a comment on any of my Matched Betting guides and I will be more than happy to help you out or point you in the right direction.
Tip #18. Stay Consistent and Disciplined
Matched betting is a great way to make money, but staying consistent and disciplined is important.
Consistency is key when it comes to matched betting. The more offers you do, the more money you will make.
But it is also important to be disciplined and not get too carried away.
It is easy to get caught up in the excitement of placing bets and trying to make as much money as possible.
Remember that matched betting is a marathon, not a sprint.
You need to be patient and disciplined if you want to be successful in the long term.
Try to stick to a consistent routine and don’t be tempted to take unnecessary risks.
If you can do this, you will be on your way to making a great second income from matched betting.
Tip #19. Set Up a Dedicated Space
When you first start out, it’s easy to just do your matched betting anywhere – on the sofa, at the kitchen table, or even in bed!
But as you get more into it and start doing more complex bets, it’s worth setting up a dedicated space.
This could be a corner of your living room or a spare room that you can use as your ‘office’.
It doesn’t have to be anything fancy, but it will help you to stay organized and focused when you are placing bets.
Having multiple screens can also be helpful as you can have your betting exchange open on one screen and your bookmaker’s website open on another.
This way, you can quickly compare the odds and place your bets without having to keep switching between tabs.
Tip #20. Keep It Fun
Matched betting is a great way to make some extra money but it is also important to keep it fun.
Don’t get too caught up in trying to make as much money as possible.
Remember that matched betting is a sustainable way to make money and that you can do it at your own pace.
There is no need to rush and there is no need to take unnecessary risks.
Keep it fun and you will be more likely to stick with it for the long term.
Bonus Tip. Get a Free Trial
When you’re just getting started with matched betting, there’s a lot to learn and it can be overwhelming.
One way to ease into it is to take advantage of a free trial from a matched betting service.
Profit Accumulator and Oddsmonkey offer free trials that give you access to all of their features to try what they offer. PA has a 7-day free trial and Oddsmonkey has a more generous 14-day trial to try their software.
This is enough time to get a feel for how everything works and to start making some profits.
After your free trial, you can decide if you want to continue with a paid subscription.
I hope you found these tips helpful and that they give you a good starting point for your matched betting journey.
Matched Betting Tips: Summary
So there you have it – a list of my top matched betting tips for beginners to help you get started.
Matched betting is a great way to make some extra money online. It is a sustainable and profitable side hustle that anyone can do. And by not doing it, you’re leaving free money on the table.
The key is to start small, learn the concepts slowly, and follow the instructions.
You can also sign up for a matched betting site to have all the information in one place so you can minimize the time you spend on research and instead focus on maximizing your profits.
And in the end, just take it easy and have some fun.
I hope you enjoyed this post and found it helpful. If you have any questions, feel free to leave a comment below and I’ll be happy to answer them.