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 20+ 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 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 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 good money from it, but you need to be patient and take your time.
When you’re new to the concept, taking things slowly at first is essential. 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. Use a Matched Betting Website
If you’re looking for a way to get started or are already matched betting and not using a matched betting website, I recommend signing up for a free trial today.
Matched betting websites provide you with all the tools, resources and information needed to start your matched betting journey.
They also have offers for newbies that show you how to get started and make your first profit.
That’s how I got started.
I use Profit Accumulator, which has helped a great deal with my journey so far. You can also check out Oddsmonkey or Profit Squirrel.
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 provides experts who can do matched betting for you.
If you want the full list of my recommendations, check this post: Best Matched Betting Sites of 2022 (Ranked and Reviewed)
Tip #3. 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 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 too. However, 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 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 been matched betting for over a year and have about £600 of my own money (I did this to have more liability on exchanges to make more profit). So don’t worry if you don’t understand this last bit for now. You will when you do your first few offers.
When I wrote this post (Apr 2022), I had made £1021.50 in profits, 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 #4. 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 tidy by keeping your matched betting transactions separate from your day-to-day finances. Over time, keeping track of how much money you’ve made from matched betting can be challenging 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 look at your bank statements.
By keeping your matched betting activity in a separate account, you can avoid any potential issues from having betting-related transactions on your main bank account.
Matched betting is not gambling, but you use betting websites to make money from matched betting. And 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 #5. Use a Separate Email
One simple tip to 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 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 organised when everything is in one place. So, if you’re just starting, 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 #6. Take Advantage of Free Bets and Bonuses
There are always many 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 guaranteed profits. Bookmakers are always looking to attract customers 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 to know exactly what you are doing.
Free bets usually have wagering requirements attached to them, which means you have to place a certain amount of bets before you can withdraw your winnings.
If you are unsure of what you are doing, there is no shame in asking for help from someone more experienced.
Profit Accumulator and Oddsmonkey have a great community of matched bettors who 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 #7. Double Check Everything. And Then Check it Again.
My next tip for beginners when it comes to matched betting is always to double-check everything.
This means ensuring that all the information you are using, such as odds and bets, matches up and that you have verified everything with multiple sources. You must go through your calculations multiple times and check for potential errors.
If you’re using a matched betting software like ProfitAccumulator (review) or Oddsmonkey, make sure that the odds 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 minimise any costly mistakes or confusion.
So if you’re just getting started with matched betting, 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 #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 significant money in the long run.
Betting exchanges usually charge a 2-5% commission on every winning bet. With a 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 like a lot, but you will see this add up to a huge amount over time when you get regular.
Here’s an example:
2% or 5% of every winning bet adds over time, and because you need to lay every bet, it’s a massive 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
If you were wondering, you could 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 minimise 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 your back and lay bets to maximise your profits. In addition, 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 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 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 encounter situations where you need to quickly calculate your qualifying losses or profits from back/lay bets pair. That’s when a matched betting calculator comes to the rescue.
You can 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 to have accounts with multiple betting exchanges. Contrary to popular belief, not all betting exchanges offer equal odds or features, so it is good to explore various platforms to find the perfect exchange for your needs.
Critical 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 they may offer. By taking advantage of multiple exchanges, you open yourself up to access a broader range of opportunities and tools to help you maximise 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 a 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.
One of the most essential points to remember when getting started with matched betting is: don’t gamble.
As a beginner, you might get excited about the potential wins and start making more and more bets without a solid strategy; 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. So unless you make any mistakes, the risk of losing money with matched betting is 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 gamble any money.
Tip #14. Don’t Get Greedy
Matched betting is a sustainable way to make money online, but it is not a get-rich-quick scheme.
You can expect to make around £500-£1000 a month from matched betting if you start 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 significant profits from matched betting.
The key is not to get greedy and always try to go for the big wins.
It is far better to grind out a consistent monthly profit than to go for the big wins.
Matched betting is about making small but consistent profits, which you should aim for.
Tip #15. Track Your Progress and Stay Organised
It is important to track your matched betting progress when starting. This will help you see how much money you are making and give you a sense of achievement as you begin to see your bankroll increase.
There are various ways to track your progress, including using spreadsheets or tracking apps.
I started with the Profit Accumulator in-built 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.
I found several useful matched betting spreadsheets and picked the one by TeamProfit. 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 useful as a beginner.
But then, with time, I felt I was spending a lot of time on tracking, and I wanted to focus more on making money than tracking granular details.
So I gave up on the spreadsheet tracking and just hung on to my original pick – the inbuilt Profit Accumulator profit tracker, the only tracker I use now. It lets me track my profits, qualifying losses, and other things. For me, it just works.
Even matched betting sites like Oddsmonkey have their own tracking tool, which is quite helpful.
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 over time.
You could pick a tool, a tracking spreadsheet or go basic with the old pen and paper.
Having some way to track your earnings progress, you will always have a clear overview of 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 regularly, whether weekly, fortnightly or monthly.
This might seem common sense, but you’d be surprised how many people leave their winnings in their bookmaker or exchange account and lose it all.
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 ensure that your winnings are not at risk of being lost.
This will help you stay motivated and ensure you are not tempted to gamble with your winnings.
If you need the funds again for reload offers, depositing them takes only a few seconds.
I usually keep the money in bookmaker accounts until the complete offer is done and then move everything to my bank account.
Tip #17. Get Help and Support
If you struggle with matched betting or have a few questions, there is no shame in asking for help.
Plenty of resources are 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.
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 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 essential.
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 making as much money as possible.
Remember that matched betting is a marathon, not a sprint.
You need to be patient and disciplined to succeed 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 meaningful second income from matched betting.
Tip #19. Set Up a Dedicated Space
When you first start, it’s easy just to do your matched betting anywhere – on the sofa, at the kitchen table, or even in bed!
But as you get into it and start doing more complex offers, 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 stay organised and focused when placing bets.
Having multiple screens can also be helpful because 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 extra money, but it is also important to keep it fun.
Don’t get too caught up in making 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 likely stick with it long-term.
Bonus Tip. Get a Free Trial
When you’re just getting started with matched betting, there’s a lot to learn, which 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 test their software.
This is enough time to get a feel for how everything works and 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 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 to minimise the time you spend on research and instead focus on maximising your profits.
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.
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.