Matched Betting Progress Update

Well, it’s been a while since I last posted. A lot has happened since then. It looks like I posted two days before my little wee one was admitted to hospital… we spent over 3 months there. Needless to say, I haven’t had much time for writing blog posts. There was no wifi on a ward for 0-3 year olds.

I managed to do a little matched betting over the last few months, really not much because of the hospital palaver. But my profit so far is now £954.62 – I’m happy with that. It’s free money and I had fun doing it! The only reason why it was fun was due to the Euro Football tournament being on and I do like a bit of international soccer, so that brightened up our days in the hospital. We may not have had wifi, but at least we had free tv on the children’s wards!

Now that we are back home and out of hospital for good (touch wood), I am continuing the matched betting slowly, but surely. When I first started it, I didn’t understand much. I knew you could get free money out of the sign-up bonuses offered by bookies, but there are a few other, more advanced, ways to make money. I have been using OddsMonkey (*) this whole time, and I cannot speak highly enough of them. The forums are really useful, in addition to the calculators and many tools they have on offer. As you progress from the basics when you begin matched betting, you can move onto these more advanced ways to make money:

  1. Dutching
  2. Eachway Betting

1. Dutching is really easy – basically it’s like matched betting, except instead of backing and laying, you back at one bookie and back the opposite at another bookie. Obviously, there has to be a price advantage, so I use OddsMonkey’s (*) dutching tool to find me good matches. You need to find prices that will return a profit, rather than using the bookies’ free sign-up bonus to give you the profit, so the tool does this for you, no hassle.

2. Eachway betting is a bit more complicated, but again, you can use tools such as those offered by OddsMonkey (*) to make it easy for you. This is just for horse racing, so you can’t use it for the several other sports offered by most bookies. Essentially, you are doing two bets and laying them both – a bet on the horse to win, and a bet that the horse will finish in the top 4. You can make profits by taking advantage of the special offers from bookies where they pay out winnings for an extra place e.g. finish in the top 5 instead of top 4.

I have only done dutching so far, which is as easy as pie, and great for if you’ve been gubbed (banned) from taking part in offers by certain bookies.

Let me know if you have tried any other methods of taking profits from matched betting, I’d be interested to hear about your experiences!

(*) These are affiliate links

8 Comments

  1. Hi M,

    Sorry to hear about what must have been a traumatic 3 months, pleased that things have sorted themselves out now.

    I have tried matched betting only a couple of times so far because I found I didn’t have enough time for it alongside everything else I’ve been trying to fit in. At some point I plan to have another go and will try out Odds Monkey for sure. Thanks for the recommendation.

    OR

    1. Thanks so much. I really appreciate the kind thoughts. Things are better, but there is a lot of care involved still, so just trying to establish a really good routine and feel a bit stable!

      I love how you tried matched betting, even though you didn’t have much time. This is how I have felt since Spring. I’m excited to put more time into it soon, as it’s easy to make a few hundred pounds per month with 10-20 minutes per day. If I have more time, I think I could rack it up to £600-£1000 per month!

      Thanks for stopping by,

      M
      M recently posted…Matched Betting Progress UpdateMy Profile

  2. I’ve only used dutching as a way to save comission costs when doing certain offers. It sounds like in order to make a profit from it at least one of the bookmakers must be offering an arb? Do you check for this and have any bookies stake limited you as a result of taking arbs?

    I’ve done quite a few each way snipes, usually when it’s a minimum of £3 profit per £50 stake. They don’t come up often though.

    1. Hey Guy. I’ve never had any restrictions when dutching, only ever had one restriction, which was through betbright’s sign up offer. They were limiting my bets on anything over odds of 5.

      I do the same thing as you with eachways, although £2/£50 is my minimum, but this week I got lucky with odds moving in my favour part way through, thus increasing the profits.

      Need to learn more about accas now

  3. Hi M.

    Sounds like a traumatic few months! Very sorry to hear about the extended hospital stay and hope little M is all OK now.

    Nice one on the matched betting. Odds monkey is great isn’t it? 🙂

    All the best.

    TFS

  4. Hey M
    Me and Pinch discussed you recently in a conversation and I was about to drop you a note to see how things were – great to hear that all is better with the little ‘un and hope you and the rest of the family are ok.

    Well done on the matched betting winnings – like you, I thought it made the Euros a lot more interesting (especially given England’s performance!).

    I’ve heard of the Dutching method, not tried it before and have read about OddsMonkey’s Each Way Betting – sounds pretty interesting. TFS has already mentioned OddsMonkey to me so at some point, I’m likely to switch over to check it out.

    1. Thanks for getting in touch Weenie. Send my regards to Pinch too. Dutching is just one more tool in your workbag I guess, there isn’t always a good match, but sometimes there is and then you can just make really simple, straightforward easy money! (The best kind?)

      M
      M recently posted…Matched Betting Progress UpdateMy Profile

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