Why isn't everyone doing matched betting? Debunking matched betting myths

Posted on 5:10pm Sunday 13th Oct 2019

Matched betting myths..

Matched betting is an amazing way to make tax-free and legal cash from home in the UK. I was able to make almost £5700 in two years by treating it as a part-time side hustle, sometimes only spending 30 minutes a week matched betting. Many people think it sounds too good to be true and if it’s such a great money maker then why isn't everyone doing matched betting. I still come across many people who have several misconceptions about matched betting, just like I did before I tried it myself, and this is why I believe so many people haven’t tried it.

If you love making money from home, have a bit of spare time and are looking for a side hustle then matched betting could be for you. In this blog post I will explore many of the matched betting myths that are still floating around.

Why isnt everyone doing matched betting_ Debunking matched betting myths

Matched betting is illegal

Surely, something that allows people to make a profit from gambling offers is illegal?

That’s what I thought too. But even those who work in the industry are quoted in the media to confirm that matched betting is legal.

Graham Sharpe, from William Hill, discusses matched betting and says "There's no illegal element," he says. "It's a free bet and you can do what you like." - The Telegraph

So, providing you are of legal gambling age, 18 in the UK, then you can legally matched bet. Of course, that doesn’t stop manipulating bookies offers being against some of the own bookies terms and conditions so if they notice then they may restrict your account (known as being gubbed), but it’s not illegal.

Read more in my blog post Is matched betting legal?

You need to know about sports

This couldn’t be further from the truth. You do not need to know anything about sports or betting to make a profit matched betting. You don’t need to know anything at all as matched betting companies like Profit Accumulator will walk you through the whole thing and help you know what bets to place where with their software.

I am not interested in sports or watching them in the slightest or even betting on them normally. I was only interested in making money from home and this is exactly what Profit Accumulator taught me to do.

After two years of matched betting, I still know nothing about sports and have no interest in the industry at all. I’m only glad it exists as I was able to take advantage of the bookies offers and make money thanks to Profit Accumulator.

Matched betting is gambling

This is probably one of the most common misconceptions about matched betting. People see the word betting and instantly think gambling. Also, bookies always win, don’t they? So how could there be a way that a matched bettor will always make a profit from a bookies offer? It’s gambling and surely you will lose money.

Nope. This is all wrong. Matched betting is a mathematical equation that means you can extract a profit from a bookies free bet offer thanks to the ability to be able to both back and lay a bet (bet for and against the same outcome in two different places). It means you can extract a profit from the free bet part.

The only purpose of matched betting is to make a profit.

In fact, with Profit Accumulator you will know exactly how much profit you will make from the free bet on their calculators. You know the money you will make before you place the bet. This is regardless of whether the bet wins or loses as you have bet on each outcome in two places: the bookies and an exchange.

There is no gamble on the outcome as you have covered both outcomes.

For those looking for the thrill of gambling then this isn’t what matched betting is. It’s a system to always extract profit from bookies free bet offers. It’s a way of manipulating these offers to make money, not lose money.

That being said, if you are at risk of a gambling addiction then don’t do it! You will be on bookies and exchange websites constantly so if you think being on these will draw you in to a gambling addiction then steer clear! But if you have no intention of gambling and potentially losing money and will strictly stick to matched betting offers only then matched betting and Profit Accumulator is for you.

You’ll only make money from the sign-up offers

Not true!

Yes, in my experience the Profit Accumulator sign up offers were the most lucrative for me and the fastest way to make a quick amount of money from matched betting in my experience. But, I continued to be a matched bettor for two years making money every month.

Once you’ve worked your way through the sign up offers then you move onto the reload offers. These aren’t always as profitable, but they continue to make matched betting profitable on an ongoing basis.

There are several different Profit Accumulator forums where people share their income and even some where those who do it full-time share all the offers they do each month to make £1000+ each month ongoing.

I did it part time and just did the easy quick offers in my spare time. Here’s a look at how much I made each month for two years:

Feb-17	£753.62
Mar-17	£588.19
Apr-17	£365.00
May-17	£465.95
Jun-17	£249.49
Jul-17	£61.64
Aug-17	£209.66
Sep-17	£274.68
Oct-17	£70.81
Nov-17	£167.00
Dec-17	£113.26
Jan-18	£125.88
Feb-18	£201.81
Mar-18	£343.66
Apr-18	£212.35
May-18	£175.45
Jun-18	£413.63
Jul-18	£197.35
Aug-18	£268.84
Sep-18	£104.06
Oct-18	£53.74
Nov-18	£36.96
Dec-18	£173.30
Jan-19	£41.04
Feb-19	£6.47
Mar-19	£11.31
Total	£5,685.15

Matched betting is a scam

That’s exactly what I thought before I started. I’d seen adverts and seen the term matched betting floating around. I had a little understanding that it was a way to always make money from bets and never lose. It sounded way too good to be true and screamed scam, avoid! It was only when I began to see other money bloggers I followed and trusted talking about doing it that I began to question whether it was actually a legit way to make money. Many shared their online income reports and listed to the pence what they made each month from matched betting. These were other normal people like me blogging about their lives and they had no reason to lie.

I saw most of them recommending Profit Accumulator and when I saw there was a free trial to try two matched betting offers without subscribing then I decided to try it. After all, no one would continue to sign up to Profit Accumulator if it didn’t work, right?

Thankfully I learned it wasn’t a scam and managed to make money from the first two offers and realise it was a legit way to make money from home. Everything I had read was right, even if it did sound too good to be true!

It’s a get-rich scheme

No, no, no. As mentioned above, some people are able to make a full-time living from it. They do it full-time and they learn all the various methods and tactics involved. They treat it just like a full-time job and are super dedicated to it.

For most of us, it’s a side hustle. Some only do the sign up offers as they’re a quick way to make a good amount of money (over £1000) in a month or two.

It’s definitely not a get-rich scheme. You can make a good amount of money very quickly by putting very few hours into it, but then after the sign-up offers the income level might slow down.

Most people I know have made a few hundred a month from it max.

Matched betting is too complicated

It sounds complicated and it’s one of those things that is really hard to explain to someone who doesn’t do it!

I never understood it at first, even after watching and re-watching the videos explaining how it works. Sometimes in the most basic of language!

Even when I started I still didn’t really get how it worked, but I followed the Profit Accumulator videos and guides whilst placing my first bets and it worked!

Working out the maths behind it for yourself might be complicated, but you don’t need to learn this or work it out at all. There are lots of online companies that do all the hard work with you and have developed software and calculators that make matched betting really easy.

I used Profit Accumulator as it was recommended by many others and I was very happy with them from the beginning so never felt the need to try anything else. They found the offers for me, had software for me to find bets for each offer and calculators interlinked to the software to tell me exactly how much to bet in each place and what my profit will be.

Final word

There are definitely a LOT of misconceptions about matched betting and many matched betting myths floating around. I’m so glad other bloggers like me shared their journey with matched betting and their income reports so I plucked up the courage to try it myself. It was a very welcome £5700 earned in two years!

Note: Profit Accumulator is now called Outplayed (2023)