In the world of side hustles, where individuals are continually seeking inventive methods to increase their earnings, matched betting has emerged as a noteworthy contender. Diverging from more traditional options, matched betting relies on a calculated strategy that employs mathematics to navigate bookmakers’ odds. As more people explore alternative routes for financial growth outside their primary employment, matched betting is gaining recognition as a potential side hustle. Today, we aim to delve into the concept of matched betting to show you how you could partake in this activity and turn it into a potentially profitable revenue stream.
What is a Side Hustle
A side hustle refers to any type of employment, business, or project that someone takes on in addition to their full-time job, source of income or primary responsibility. It’s often a way for individuals to pursue their passions, interests, or skills outside of their regular work hours to earn extra money. Side hustles can take various forms, such as freelancing, consulting, starting a small business, participating in the gig economy, or even making and selling products online.
People engage in side hustles for various reasons, including supplementing their income, pursuing a hobby, gaining additional experience, or working towards a long-term goal, such as starting their own business. The flexibility of side hustles allows individuals to explore different opportunities and potentially turn their passion into a more significant source of income over time.
What is Matched Betting
Matched betting is a strategy used by individuals to profit from the free bets and incentives offered by bookmakers. It involves placing two opposing bets on the same event, essentially canceling each other out but taking advantage of the promotional offers provided by the bookmakers.
In order to successfully match bets, first, you need to place a back bet on a particular outcome at a traditional bookmaker. For example, you may predict a team to win in a game of football. The purpose of this bet is to unlock a free bet promotion. Then, you place a lay bat on a betting exchange of the opposite outcome from play, like the team to lose or draw. The goal is to find a game with suitable odds so that you end up breaking even or making as little loss as possible. By placing these two bets, you essentially cover all possible outcomes of the event and will unlock a free bet.
Now, with the free bet in hand, you repeat the process. However, this time, you use the free bet when backing your bet. This way, all outcomes are covered; however, the amount spent is lower, leading to, if done correctly, guaranteed profit.
Can Matched Betting Actually Be a Side Hustle
Matched Betting can be a very viable side hustle for those willing to learn the basics of matched betting and commit the energy to find suitable bets. Matched betting, unlike regular gambling, is not based on luck and, therefore, allows you to systematically provide yourself with winning opportunities regularly. As a result of this, however, unless you place large stakes, the resulting profits may not be very high. If you are able to get into a groove of regularly placing bets and finding the best opportunities, however, you can create a stream of supplemental income.
How to Matched Bet Successfully
In order to match bets successfully, first, you must fully understand the basics of matched betting. You must learn how betting exchanges work, lay and back bets, how to claim free bets, and the mathematical approach to selecting the right stake to place on your bets.
Then, you will need to find a reliable bookmaker and betting exchange, or multiple, for that matter. You can just sign up to any old bookmaker; however, having a range of accounts is useful to ensure you have as many opportunities to claim free bets as possible.
We also highly recommend matched betting sites such as ProfitDuel to assist in this process. Matched betting sites contain a range of tools and software to help you match bets more efficiently and successfully. There are tutorials which can help you learn the basics, bonus calendars that show you upcoming promotions, odds calculators which help you work out predicted profits and losses; odds matches that help you find fixtures and odds that are suitable for matched betting and much more. Betting tools are very useful for those who want to save time and streamline their matched betting experience.
Finally, we recommend keeping track of your bets and continuing to be cautious and accurate throughout your matched betting journey. Although matched betting contains little risk, problems can arise due to human error or miscalculations. Making sure each bet is as reliable and well-researched as the last is crucial to ensuring you do not make losses and continue to promote the additional revenue stream.
What Makes Matched Betting a Good Side Hustle
What makes matched betting such a good side hustle is the fact that it requires no prior knowledge, skills or education. To start matched betting, all you need is a betting account and a desire to learn more about the activity.
There are also no startup costs. Unlike a business that contains inherent risk, all you need is enough money to place the initial stake in order to break even and claim your free bet. Matched betting has incredibly low risk in comparison to other side hustle opportunities.
Finally, you also have complete freedom when matched betting. By this, what we mean is that you are not working for anyone, and there is no actual work to be done. If one week you don’t want to place a bet, you don’t have to, and if you do decide to place some bets, it will only require a small amount of your time to do. This allows you to focus on your primary employment, other side hustles, or doing the things you enjoy.
Matched betting is a side hustle gaining lots of popularity due to all of the positives mentioned above. To all those wanting to start matched betting, we once again can not recommend sites like ProfitDuel enough, as they allow you to place bets more efficiently, leading to more bets being placed and a higher secondary income potentially coming through the door.