Matched Betting has been the number one source of online income for the past decade and continues to provide handsomely for those who have just discovered it.
What makes Matched Betting such a great side hustle is the limited capital required. Here at Oddshero we recommend an amount of €/£/$200 to begin your Matched Betting journey.
When you compare that to all of the other potential passive incomes advertised online, the low barrier entry of Matched Betting is what sets it apart from the rest.
Now you know what Matched Betting entails and the high volume of signups required, you may be wondering how to keep track of all your finances?
As you complete each signup you will have to deposit and withdraw money into almost 70 different bookmakers.
Here we will run you through some of the tips we have learnt from our experience in Matched Betting
This question is a controversial one in the Matched Betting community as people have differing opinions. These are the three options available to keep track of your money:
This is a controversial option because some people believe using your everyday bank account can affect other aspects of your life. Due to the high volume of transactions required for Matched Betting, you will have hundreds of statements from bookmakers on your bank statements.
Some people believe this may have consequences because finance companies or banks will only see the transactions and believe you could be a gambling addict. Now take this with a grain of salt because there isn’t concrete proof that having gambling statements can affect your finances.
There are many people in the Matched Betting community who do use this method and haven’t had any problems.
Now if you are financially conservative and you do not want any risk, then the option of having a dedicated Matched Betting bank account is for you.
This option allows you to completely separate Matched Betting with the other aspects of your life. The only downsides to this option is having to maintain multiple bank accounts which some people may find challenging if they aren’t technologically astute.
The E-Wallet is the preferable method for the experienced or full-time Matched Bettors as it is the most flexible option.
Unlike bank accounts which have a 3-5 day withdrawal time, E-Wallets are practically instant. This allows you to move your money around at a much faster pace which can lead to a higher completion of offers.
Now, unfortunately bookmakers are aware of this and they won’t allow you to complete a signup bonus using an E-Wallet.
The E-Wallet is the most useful when you move onto the Reload Offers.
All 3 options have their pro’s and con’s and it is up to you which you are more comfortable with.
Once you have decided which banking method you will use, you can start earning!
As you can’t use an E-Wallet during the signup stage, you will have to wait 3-5 days to receive your money from the bookmaker. Even though we have to wait that long to receive our money we do want to continue the signups with other bookmakers.
The average Matched Bettor can complete 1-2 signup bonuses per day and soon that 3-5 days waiting time can be a problem.
It is crucial that after each deposit/withdrawal you can make a note of the amount of money you were using. This way you can keep up with where all of your money is.
Now you are probably thinking this is obvious and you aren’t stupid enough to forget your money.
Oh, how we have all thought that.
Every Matched Bettor has had the experience of opening their bank or a particular bookmaker and seeing money in there that they had completely forgotten about. This comes from being unorganised!
A simple spreadsheet of each transaction will make life a lot easier.
After completing each offer you want to know exactly how much you have earnt.
Here at Oddshero we have completely integrated a Profit Tracker that automatically keeps track of the money you have earnt.
Once you have completed an offer through our oddsmatcher, you can save the trade and our system will automatically add that to your personalised Profit Tracker.
We have almost 70 different signups available on Oddshero and your profit tracker will be sky high when you are finished!
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