Just started Matched Betting, where to begin?
Once you have joined Oddsmonkey (not got an account yet click here) your first tutorial will be introducing you to how to make your first profit with further guides on how to make, roughly, your first £1000-1500.
So with out rehashing all of that information I wanted to share my strategy into how to turn that first £1,000 into a recurring monthly amount.
Build up your Bank
When starting it is so tempting to spend all the money you make. However saving your initial £1000, at least, is the best way to start making a recurring income. To do this complete every single one of the sign up offers shown. Not only will this help build you bank it will also help in your initial training on how to make the most from matched betting.
Start mixing in Reloads
These are going to be your bread and butter of making money, some are easy and risk free. So start with these ones, plus learn how to make the offer risk free. Don’t worry there are guides on how to do this. I highly recommend you start doing this as soon as you have some bank, but before you do all the sign up offers.
The reason I recommend you start mixing these in with sign ups, is simple because some of these can take some getting used to. Plus you aren’t always guaranteed profit from them, even though “risk free”. Doing a day of reloads and not hitting a free bet can be off putting to a beginner. Physiologically if you have free bet sign up offers left you can go make an easy profit for the day which will make you feel better.
I know I mentioned a day of doing offers and not making money just then, well yes it can and does happen. However the days you win will smash the none earning days and make massive profits. Completely making up for the poor days.
Use Cash Back sites for Sign up Offers
Now not every bookie will have an offer with cash back sites, some may have but the offer may be worse than you could get going direct. However sometimes you can greatly increase your profit by using them so it is well worth having a look before signing up.
I highly recommend Top Cash Back to get you started.
Another big recommendation from me is to use Smarkets, this is due to their lower commission 2%. This means you will get to keep more of your profits. On top of this, at the time of writing, Oddsmonkey has an agreement for 0% commission. This is running until the end of 2018. So get in quick, this will greatly increase profits and make matches easier.
Don’t be afraid of Casino offers
I was when I first started and was leaving profit on the table. This goes for slots as well. Start off with low risk offers and follow the Oddsmonkey strategy. Especially when starting. Once you get used to these I will detail alternative methods.
Before starting casino or slot offers please take this word of warning. Do NOT chase losses! There are so many stories of people chasing losses on slots on the forums. Slots are designed to get you addicted. Do not fall into the trap. You will make a lot of money from slot offers. However this is worked out from Estimate Value, if you are down a couple of quid on one jump on the next offer!
Open a new Bank Account
The people who stay in this business are those who treat it as such. What I mean by this is to keep your bank separate from your normal account so you can track your profit. Then transfer profit into your normal account when you want to take some out. By doing it this way you can always track your bank. You are less likely to spend your bank. Plus you will really notice the extra profit.
Tag all your Bookie Emails
Some people suggest opening a new email account. I prefer instead to have all my bookie emails tracked. This way I know they will come through and I wont miss them. You will regularly get sent special offers which you will not want to miss. By tagging them you can have them sent directly to a separate folder ready for you to go through each day.
Ensure you have read our Getting Started with Matched Betting Guide!
This one is self explanatory, if you haven’t read it yet it’s a great place to start.
Finally make sure you have fun, this is a great way to work from home or to build a second income. Don’t make this into another job. It is fun and you will make so much more if you enjoy it!