Some people do make over £1,000 a month and I have heard of people making over £2,000. Whilst I think you probably could acheive that, in my experience you are more likely to make a few hundred pounds profit per month, at least to begin with.
Yes, but not 100%, there are a few things to be wary of, most under your control.
The biggest risk is probably the chance of you making a mistake! Follow the instructions carefully, check and double check everything and start off by placing small bets until you get more experience. Don't get over confident! Obviously this risk is under your control - be careful!
What if you have a power-cut mid-way through placing a bet? What if your phone runs out of battery etc? These things can happen but if you are careful and have back-up plans then you can avoid such problems. But it's best to be aware of them before they can become a problem.
Sometimes odds change so that the bet that was profitible is no longer. Sometimes bookies change their special offers so it is no longer worth placing the bet. Double check the odds and offers every time you place a bet to avoid this happening.
The main risk that you cannot control is the bookie you are betting with could go bust. This doesn't happen very often, but you do need to be aware of it. For example Win Cash Live went into administration in June 2016.
Obviously if you had funds with them when they went bust you would have probably lost your money - there is a small chance you could get some of it back via the Official Receiver but you are not likely to get everything back in such cases.
This is a very small risk however and in my opinion it is not something that should stop you trying Matched Betting. You can mitigate against this risk to some extent by making sure you always withdraw your funds into your own bank account when not betting.
Despite all the above, matched betting is virtually risk-free as long as you are careful, the returns far outweigh any risks and you would be extremely reckless to not return a profit in the long run.
One other bookie-related issue, they may close your account or limit it. If the bookies spot what you are doing, they do close accounts down (you get your money back) or limit the offers you can use. If you are careful this won't happen very often or certainly not until you've placed quite a few bets and made a fair bit of profit, but again you need to be aware of this. Also look into
Yes and no. On your own with no support it is hard to find the best offers to go for and exactly what to bet on. If you join a Matched Betting service such as Profit Accumulator they do the hard work for you by finding the best deals and the best matches that will maximise your returns.
You pay £15 - £20 a month for these services but you will easily get multiples of that returned if you are willing to put in a bit of effort.
This isn't a get-rich quick scheme. You need to learn about what you are doing and understand at least the basics and then spend the time placing the bets. If you spend an hour per month you will not make a lot of money, you really need to set aside a bit of time every day, or at least every other day to make it worth your while.
But having said that, how many people go to work 35 hours or more a week for a return of £10 - £20? With Matched Betting you can do half an hour here and there and get a return of £50 an hour or more.
The two main Matched Betting websites are Profit Accumulator and Odds Monkey and I have joined both of them. Both offer slightly different information and I wanted to compare them but you only need join one. Profit Accumulator is a bit easier if you are a beginner.
Not really. You can start with just £20, but if you start with more you will make more money more quickly as you can obviously bet larger amounts to get larger returns. In my Blog I started with around £30.
The real key is to make sure you DO NOT spend your winnings straight away, but use these to build up a bigger fund for future bets. This is where I went wrong when I first tried Matched Betting - I made around £300 in my first month and then spent it all so my second month was quite poor with just a small profit and I then gave up!
If you imagine an average daily return of 5% then on a betting pot of £50 that's only £2.50 - but on a pot of £1000 that's £50 a day. 5% a day may not sound much but imagine if you had a savings account with that return rate! You would more than double your money every 15 days! Maintain a betting pot you are comfortable with and that you know you won't need to touch.
Yes! There is no law against Matched Betting.
This depends on your own morals and personal opinion. I don't have any problems with it myself as I am simply reducing the bookies profits! As they load things in their favour then I have no trouble relieving them of a little cash.
You will not be successful at Matched Betting unless you are willing to invest a small amount of money up-front and even more importantly some time.
The minimum you should look at would be a daily amount of around half an hour to begin with. Once you know what you are doing you can probably reduce that to 15 minutes a day. The more time you invest the greater the rewards of course, but I wouldn't recommend doing less than one bet per day.
This assumes you join a Matched Betting website such as Profit Accumulator as that will save you a lot of time.
The really successful Matched Bettors invest a lot more time, to return a full-time wage from Matched Betting you will need to invest more time, some people treat it like a full-time job.
Any money "earned" from Matched Betting (or any betting) is tax-free, so you don't need to tell the tax man (UK only, not sure about other countries, do your own research).