Have lots of niggling questions about matched betting? Then take a look at these frequently asked questions.
DO I NEED TO SIGN UP WITH PROFIT ACCUMULATOR?
It’s perfectly possible to do matched betting without Profit Accumulator. There are plenty of online tools to help you. The trouble is, it takes time to find the offers and subsequently keep on top of all the reload offers, especially last minute ones. Unless you plan to do this full-time, time is of the essence for most people when it comes to matched betting, squeezing it into a few spare hours. Profit Accumulator will hold your hand as you get used to the process of matched betting and will make sure you never miss an offer.
THIS SOUNDS TOO GOOD TO BE TRUE. IS IT A SCAM?
Matched betting is a completely legal and tried and tested method. It’s not a get rich quick scheme and it won’t make you millions but it is a way to easily earn up to around £1500 per month. All you need is a computer to get started.
Don’t just take my word for it:
If you become a gambler, usually the only winner is the bookie. But hundreds of people have been beating them at their own game for years, using a supposedly risk-free method called matched betting (The Telegraph, 6 December 2010)
Matched betting…is a completely validated and risk-free method of topping up a woeful bank balance (Huffington Post, 21 May 2013)
There is an old proverb that says: “In a bet there is a fool and a thief”, and I’m not inclined to disagree. Could I really sit in front of my screen and make money from the bookies for nothing? The answer, to my surprise, was yes (The Guardian, 24 July 2010)
IS IT RISK FREE?
Yes! But you have to follow the instructions and guidance to the letter because mistakes can be made. Before starting I would advise spending time both reading through the guides and watching and listening to the tutorials at least twice. And always double check the figures you enter match the calculator.
The biggest risk is that you actually succumb to the lure of betting instead of following the method. And gambling is highly addictive. Don’t be tempted by the large sums of money you’ll eventually see moving about between your exchange and bookmaker accounts. If you have had gambling problems in the past then matched betting is probably not for you.
HOW MUCH MONEY DO I NEED TO GET STARTED?
You’ll need a small sum of money to place the bets and to cover your liability in the exchange should your bets win at the bookmakers. You can start with as little as £50.
If you have more money available, this will mean you will have a little more choice in the bets you can initially place and you’ll be able to progress through the offers a little more quickly. I started with £100.
DOES IT AFFECT MY CREDIT SCORE?
No. Bookmakers are required to confirm your identity in accordance with strict regulations and so some may perform a soft search against your credit file. This will be visible to you but other financial institutions will not be able to see this when they carry out a credit check.
You may also want to consider opening a separate bank account for your matched betting deposits and withdrawals. Mortgage companies may scrutinise your bank account history when you make an application and you might be tarnished as a gambler – and a lending risk – if they see lots of bookmaker transactions. A separate bank account will alleviate this risk and also makes it easier to keep track of your money.
I ALREADY HAVE ACCOUNTS WITH SEVERAL BOOKMAKERS. CAN I STILL DO MATCHED BETTING?
Yes. There are more than 50 bookmakers in the UK offering sign up offers so the chances are you won’t have an account with all of them. And you can also make money from the ongoing – reload – offers.
HOW MUCH MONEY CAN I MAKE MATCHED BETTING?
This depends on how much time you have available. As a rough guide you can expect to make:
- £1000 – £1500 per month from 2 to 3 hours per day
- £500 – £1000 per month from 1 to 2 hours per day
- up to £500 per month if you can spare a few hours each week
I WORK FULL TIME. IS IT WORTH ME SIGNING UP?
Yes. It is easy to work through the sign up offers in the evening or during the day if you work on a shift pattern.
The forum also has a section dedicated to helping you earn £300 per month if you work full time. The most valuable offers are also at the weekends when most sporting events take place.
DO I NEED A LAPTOP OR A PC?
You need to navigate between 3 different pages when placing bets. A laptop or PC might help with this but you can certainly do matched betting from a mobile. In fact, I often place bets when I am on the go.
CAN ME & MY PARTNER BOTH DO THIS?
Most bookmakers have quite strict terms and conditions limiting their offers to one per household. They can track your IP (internet) address so I wouldn’t recommend opening more than one account.
However, there are a few that do allow this. Look out for a blog post on this soon.
IS THERE ANYTHING ELSE?
I’ve tried to answer the basics here in these frequently asked questions but if there’s anything else you’d like to know before you sign up, please get in touch.