Other Ways To Make Money
When it comes to matched betting, there are a few different ways you can make money with it and these will really come into play make consistent money after you've done all the sign up offers and have around £1000 in your account. In this section I will be going through ways that you can make profit. These ways are:
Risk Free
Refunds
Price boosts
2UPs
Horse Racing (Extra places/ each way bets)
Weekly bet clubs
Casino
Risk Free
These types of offers are the most common form of offer you will get when matched betting (especially when doing the sign up offers). This is basically known as the ‘Bet X Get Y’ bet where you bet a required amount on an outcome and when the match is over you get a free bet token to use. If you have about 8 minutes you could read through the step by step guide on matched betting by clicking here or you could watch some Oddsmonkey video tutorials by clicking HERE
Refund Offers
Refund offers are slightly different to a standard risk free bet because you need a certain outcome to happen. This could be a particular player to score, a red card to be shown, a particular number of goals to be scored etc. Apart from that everything else is the same (back & lay bet using the free bet token if you unlock it if your outcome happens).
Price Boost
Price boost is when a bookmaker offers higher odds on a match. This means that the back odds are higher than usual and are higher then the lay odds meaning you will always make a £2-£10 profit. It is essentially what is known as a ‘Arb’ but the bookmaker knows they are giving you these higher odds so if you only do price boosts then they will see that you are only placing bets when they give you higher odds and this might resort you in being gubbed.
Whenever a bookmaker does a price boost there is always a maximum stake. This is so people don’t place hundreds on a price boost meaning the bookmaker will have to fork out also of profit.
For price boosts you don’t need a ‘free bet’ to make money. All you need to do is place one back and lay bet (essentially a qualifying bet).
You can use the app PushBullet which will notify you when someone posts on the ‘Price Boosts Thread’ on Oddsmonkey. This will ease your mind and not make you check your emails every 5 minutes to see if you have a price boost offer.
2UPs
This is when the team you bet on to win go 2 goals ahead, the bookmaker will pay it out as a win. It doesn’t matter if your team go 2 goals ahead within 2 minutes from kick off or if your team goes 2 goals ahead but then end up losing the game, the bookmakers will pay it out as if your team has won.
2UPs can be very profitable in that if the team you bet to win goes 2 goals ahead then you will be paid (your back bet wins) but if that team goes on to lose your lay bet will also win, meaning double profit!
The bookmakers that do this the most are Paddy Power and Bet365 so keep an eye on these.
Horse Racing (Each Way/ Extra Place)
Extra Place also known as each way bet is when the bookmaker offers you extra places for your selection to come during an event. This is usually 3 place, 4 place, 5 place. This means that is your selection comes 1st - 3rd, 1st - 4th , 1st - 5th then you will be paid.
Extra place bets are mostly associated with horse racing.
When doing an extra place bet you need to back one selection and lay two selections. For example if the bookmaker is offering you “4 places” and you place a bet on a horse to “win AND place”, if that horse comes 1st, 2nd, 3rd or 4th the you win
REMEMBER - Whenever you place an extra place bet just remember that your stake will be double the amount (if £10 is your usual stake amount you will be betting £20). This is because you are technically placing two bets in 1; a bet to win and a bet to place (3,4,5 place)
Weekly Bet Clubs
These are given to you by the bookmaker as a free bet when you do a certain amount of bets at a certain amount (For example bet 4X £5 for a £10 free bet in a week).
With this make sure you keep a note of what you’ve been betting and what you need to bet. Do this via a spreadsheet. This is so you don’t bet too little and don’t get the free bet making it a waste of time and also so you don’t bet too much and eat into your profit.
Weekly bet clubs are a great way to make consistent money per week with the average amount around £50-£60 per week what is available to be made from just these alone.
Casino
Lastly is the casino selection of matched betting. Casino offers are slightly different to everything else in matched betting as you don’t normally need to use a betting exchange as you are focussing on the variables and if you repeat something enough you should eventually turn a profit.
Because of this, casino offer are not totally risk free but this is how people make matched betting a full time thing and earn £3000+ per month tax free! So because of this it is well worth looking into the casino side of matched betting.
When I was learning matched betting there wasn’t a lot of clear tutorials about casino offer but now Oddsmonkey have added an entirely new casino selection to their website with typed and video tutorials.
