8 Pros and Cons of Matched Betting (Is It Worth It?)

Before you start, you need to know the pros and cons of matched betting. Matched betting is a great side hustle and helped me earn over £15,000. But for some people, the cons outweigh the pros.

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What Is Matched Betting?

Matched betting is a side hustle for UK residents. It involves placing sports bets that cancel each other out to make a profit from a promotion. Matched betting is not gambling and is legal in every country that allows sports betting.

Matched betting is a great way to make money. It was my main side hustle before I started blogging. You can learn matched betting for free with Outplayed.

Pros of Matched Betting

1. Tax-free Profits

Matched betting profits are tax free. You can keep everything you win; your gross profit is your pay. You do not have to tell the taxman or file a self-assessment. Matched betting profits are gambling winnings. (Though matched betting is not really gambling.)

2. High Earning Potential

You can make a lot of money. Around £1000 per month is doable during the football season. When you play casino offers, you can win a jackpot and become rich.

This is NOT what matched bettors aim for. You should prefer smaller casino winnings to align with the expected value. However, winning big is a possibility.

3. Low Effort

Placing one bet may take time in the beginning. Yet once you are used to it, you can place bets worth several hundred pounds within minutes. In the old days, you could make a full-time salary with a few hours of daily work. Nowadays, matched betting is less profitable but is still better than most regular jobs.

4. Flexible Working Hours

When you do matched betting, you can work your own hours. Whether you want to dedicate a set amount of hours daily or place quick bets when you have a few minutes, you can be a successful matched bettor.

There is no minimum amount of hours you need to put in either. With matched betting, you can work when and how much you like. Some events, like the Cheltenham Festival, may require you to be present. However, participating in these is not a requirement.

Cons of Matched Betting

1. Hard to Understand

Many people struggle to understand the concept. Some people dismiss it as gambling or mistakenly gamble, causing them to lose money. It is hard to learn matched betting by yourself. Websites such as Outplayed offer free guides. You can follow their step-by-step guides and contact their support if you have questions.

2. Earnings Depend on Offers

With matched betting, your profit comes from bookmaker promotions. Without offers, it’s hard to make money. There are ways to make money still, but it is not easy.

If you do matched betting without free bets, you have even fewer offers. This makes you more vulnerable to offer availability. Never rely on matched betting for an income.

3. Need Money to Start and Maintain a Bankroll

With matched betting, you place bets for and against an outcome. When you place a bet against an outcome (lay bet), you take on the role of the bookmaker.

The money will be tied up in the market until after the event, so you cannot use it for anything else. On the heights of my matched betting journey, I maintained a bankroll of £10,000. This money was tied up in various bets in various bookmaker and exchange accounts.

You also need some money to place your first bets. I started with £10, but starting with at least £50 is much better. Not everyone has that much money.

4. Matched Betting Is Not Risk Free

I wrote a whole article on why matched betting is not risk free, yet many people continue to advertise it as such. Never believe anyone who tells you there is no risk to matched betting.

As a beginner, you are likely to make mistakes and lose some money. This is normal. Over time, you should be able to recuperate your losses and make much more. You can compensate for this by completing free money offers.

Is Matched Betting Still Worth It?

Matched betting has become less profitable over the years. What used to be £50 free bets has become £5 free bets. You can still make a profit from matched betting, though. Nobody knows if matched betting will be profitable in the future. Thus, the best time to start is now.

Pros and Cons of Matched Betting Summary

Matched betting is a great side hustle, and there are several reasons to start, including:

• Pro: tax-free profits
• Pro: high earning potential
• Pro: low effort
• Pro: flexible working hours

But there are also several cons:

• Con: hard to understand
• Con: earnings depend on offers
• Con: need money to start and maintain a bankroll
• Con: matched betting is not risk free

If matched betting is not for you, there are many great alternatives to matched betting.

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