Matched Betting may seem intimidating at the start but with these 10 tips we are confident you will be making money online in no time!
This is the most important point for you to grasp when Matched Betting and you need to make sure you can recite the difference between BONUS & COVER bet in your sleep.
If you can’t do that just yet then don’t worry, we will walk you through it now.
The BONUS bet is a bet we place on the bookmaker we currently have our BONUS on. Here is an example.
If we need to place €100 of bets on BET365 to unlock the bonus then the bets we place on their are known as the BONUS bets.
Check that the odds aligns. It is ok, if the odds does not align perfectly. E.g. we show 2.00 and at the bookie shows 1.98.
Check the stake size you should place
Enter the stake size into the bet slip
Place the bet at Bet365.
Go back to Oddshero and register that you placed the bet at Bet365.
The BONUS bets should always be placed before the COVER bet,
The COVER bet is a bet we place to cover our BONUS bets and reduce all risks in the trade.
The COVER bets should always be placed after the BONUS bet.
Here is an example:
All of the sign ups you will complete here on Oddshero will all follow the same format, and so it is extremely important that you know the difference between BONUS and COVER before starting.
We also have a match finder that will tell you exactly which bet to place and the profit you will earn.
Once you have found the bets you are going to place, make sure you check that you have found the correct bet and know exactly how much to stake.
Everyone who does Matched Betting has made a mistake which has cost them money and it always comes down to negligence and not paying attention. Whether it is staking the wrong amount or betting on the wrong game, mistakes will happen.
This is why it is crucial that you pay close attention every time you want to place a bet.
If there is one thing you need to know about bookmakers, it is that they DO NOT want you to take money from them.
This is why they will restrict the BONUS until you have placed a certain amount of bets because normal punters will end up losing the BONUS before it becomes available.
To make sure we profit from each BONUS you need to understand exactly how many times each bookmaker wants you to turn it over.
As you can see Bet365 expect you to wager the £100 once before you can withdraw it as cash.
Not all bookmakers will only have 1x wagering requirements and will require you to turn over the BONUS multiple times. This is why it is extremely important that you look at each T&C separately and become aware of what the bookmaker requires.
Due to the reasons stated above in regards to bookmakers having different T&C’s, it is highly recommended for you to only focus on one sign up when you’re starting out.
This will help you keep track of each BONUS bookmaker and stay on top of the bets you have placed.
Once you become comfortable with the concepts of signing up to bookmakers then you can start working on multiple accounts at the same time.
Also getting started with Bet365 is free with Oddshero! So you can make a profit before you have to buy anything from us!
Many bookmakers require you to verify your identity and will ask for proof of this with 2 forms of identification.
Depending on the country you reside or the particular bookmaker, verification isn’t always needed but it is good to get into the habit of expecting them to ask.
In order to verify yourself, they will ask normally ask for at least 2 of these ID’s
The bookmakers that do require verification will not allow you to withdraw your money and so having verification details available will speed up the time you have to wait to receive your profits.
As you will be signing up to over 70 different bookmakers, we advise you to create a separate email address entirely focused on Matched Betting. This will keep you organised and will even help you make more money in the future. Once you have signed up to a bookmaker, they will regularly send you emails with offers that you can profit from and so it is important you have a seperate inbox to avoid missing out.
As well as a separate email address, you should also organise your passwords into a password manager. Cyber security is a huge concern today and there have been people who have had their bookmakers account hacked because they had the same password for each account.
Finding a password manager and even a password generator is extremely easy with a simple search into Google. The Oddshero team uses Lastpass, it’s free.
DO NOT BE COMPLACENT WHEN IT COMES TO CYBER SECURITY!
Once you have begun signing up to multiple bookmakers, you will regularly be moving money to and from your bank account.
This is why it is recommended that you create a matched betting spreadsheet that keeps track of all the money you have in each account. When doing this, it will make sure you do not leave any money in a bookmaker’s account.
It also takes 3-5 days for money to go from the bookmaker into your bank account, so you should always be aware of this when planning how many sign ups you want to complete at one time.
Earning money online through Matched Betting is still the NO.1 for people of all ages and backgrounds to do. This is because it requires no previous skill or experience in sports betting.
However, this doesn’t mean the money will just appear in your bank account at the end of each day. You need to treat this a part time job and realise that the more time you put in, the more you will earn.
The great thing about Matched Betting is that you can do it at any time of the day and it can easily fit around your lifestyle. Many of our members do Matched Betting before work, after work and even during work! It only takes 2 minutes to put on a bet.
With just a few hours each day you can achieve great earnings!
As stated previously, once you sign up to a bookmaker, they will start to regularly send out offers to entice you into gambling with them.
These types of offers are known as RELOAD OFFERS.
Reload offers are a great money earner if you know how to use them. However, it is advised that when you’re starting out you should focus entirely on the welcome offers to build up your bank.
Once you have mastered the Welcome Offers and you feel comfortable with the principles of Matched Betting, then you should slowly move onto the Reload Offers.
We were all beginners once, we understand that it may not seem simple when you are just starting out and you are wondering if this is worth it.
YES! It is worth it. Matched Betting is still the best way to make money online.
If there is something you don’t understand then please get in touch with us and we will be happy to help. There are no stupid questions and we guarantee that the question you ask has been asked thousands of times.
Let us know in the comments below if there is anything we have missed that you think a newbie must know!
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