The Concept of Matched Betting
Matched betting is a sports or football betting strategy that, when done right, can give you a reliable source of extra income every month.
This strategy might not be for everyone, but once you've become used to it, it's an excellent way to make some extra bucks from home. How much we'll earn from matched betting depends on the time of the year as to when the major sporting events are in, there are always more offers and how much time you'll dedicate to it.
In this article, we'll be going through the Pros and Cons of the Matched Betting strategy.
The Pros of Matched Betting
Risk-Free
Make sure to do your homework and do lots of reading before you start. Once you've understood the process, your money is always safe and secure as it will end up either in your bank account or in the exchange. Re-check if you've followed all the steps correctly and look at your bets before confirming them. Some sportsbooks have a 'place bet' button that is followed by a 'confirm bet' button, which is why you should always ensure if your bet is indeed on the line.
Reward and Time Ratio
Even though there are plenty of side hustle opportunities that can be worthwhile out there, matched betting can indeed rank at the top of the side hustle list where monetary compensation for the time you put in is concerned. You can make hundreds of dollars per month by only putting in as little as an hour a week. Can you think of any other side hustle that can compete with this 'hourly rate'?
Flexibility
Whether you have a lot of time to spare or only a few hours per week, matched betting lets you make money at any time of your day or week. Most people centre on their daily grind at work, studies, and family life. But no matter how little time you have, you can slot-matched betting any time and the amount of money you'll receive depends on the effort you put in.
If you're planning to earn some extra cash to pay for Christmas or a holiday, then consider spending more time than usual to rake up the benefits. But if you don't need the money and you'd like to spend your time on something else, you can sit back and put in less effort while still earning a few dollars. The choice is up to you
Tax-Free Cash
The biggest benefit, in our opinion, is that every dollar you make is tax-free. You don't need to state it as a second income nor get taxed from it. All your profit goes directly into your pocket.
Other casual second income like babysitting can earn up to 1000$ a year free of tax, but everything after that usually needs declaration. With matched betting, all your winnings are always tax-free. However, this can vary from country to country, so you should study your country's tax laws, or consult a lawyer, if you’re not sure.
The Cons of Matched Betting
It Takes Time to Understand
It takes a while for matched betting to stick into your head. This is probably why people don't do it, as they haven't grasped its concept. People tend to see it as another form of betting and don't get the idea that it's risk-free. Even if you explain how it works, they still won't get it. But it's fine, as matched betting is not for everyone. Like we said before, make sure you're 100% sure you know what you're doing before you start.
Limited Life in Sportsbooks
When you consistently take advantage of offers from sportsbooks, they'll usually start placing restrictions on your account, limiting the money you can stake on a bet. In some cases, these bookies may even close your account completely.
This is known as being 'gubbed,' which bans your account from promotions and it's a common thing in the matched betting community. Sportsbooks don't usually offer further explanation once they gub your account. It can be frustrating for first-timers, but you'll need to accept it and move on to the next bet.
Declining Offers
Because of matched betting growing popularity, more people take advantage of the offers. This causes sportsbooks to give fewer and fewer offers and the offers you do have may become less profitable. This doesn't mean that you can't make some big profits anymore, but the offers are likely to keep on decreasing.
You'll Need A Sizeable Amount of Money to Earn More
To earn some bigger profits in matched betting, you need a considerable amount in your bank. It's possible to start from as little as $50, but it will take more time to build up more money. To enjoy bigger and faster profits, you'll need to put more money on the line.
You Need to Be Well Organized
Make a system that can track your bets, deposits, and profits so you have precise data showing how much you've made and the free bets you've placed in. It's easy to 'lose' money when you have many bets on different sportsbooks.
Conclusion of the Pros & Cons
There are no limitations on who can do matched betting. As long as you're over 18 and in the UK or some other parts of the world. The bottom line is that you'll need a little spare time.
All you need are a few hours in the evenings or on the weekends, and you'll get plenty of money-making opportunities. This means that matched betting works best for students, retirees, or anyone working from home.
