A while back, I listened to Huw’s interviews with Guy on matched betting with great interest (second interview here).
Guy made close to £7k in just 6 months – he’s broken the £15k barrier since that interview! It was great to know first hand the potential that can be earned via matched betting, although from the sounds of things, Guy does put a lot of effort into getting the profits rolling in.
Prior to matched betting, Guy had never ventured into a bookie and his gambling was limited to just playing the lottery. I guess that meant that at no point has he been tempted to just gamble whilst he’s been doing his matched betting.
On the other hand, as someone who used to count gambling (sports betting) as one of her favourite hobbies, I cannot say that I have not been tempted and that temptation to have a ‘flutter’ is something that I continue to struggle with.
Yes, I do the lotto (£2 a week with a lottery syndicate) and I take part in a football predictions league at work (£1 a week) but these activities still struggle to dampen my bubbling gambling urges.
I don’t think I will fall off the wagon in an epic way and start spending/throwing away all my matched betting profits but the threat of stepping off the rails lingers in the background.
The good news is that I can’t end up wasting all my profits now anyway, as I’ve started investing some of it (into property crowdfunding via Property Moose*) but sometimes, I can feel my finger twitching and hovering over the ‘Bet Now’ button for a pure gamble! Oh the…
Below is an actual 6-leg football accumulator I did at the end of last season, whereby I bet that 6 teams would win.
All the teams did win and doing it the matched betting way, I made around £15 profit – nice, eh?
However, if I had just gambled my £25 bet on the accumulator, I would have made £167.85 profit…
I’m finding that I win around 1 in 4 of the accumulators I do, so a little voice in the back of my mind is ‘suggesting’ that I should perhaps just place normal bets instead of matched bets for some of the accumulators I do.
Making £167 profit is obviously a lot more exciting (to me), but I need to keep reminding myself that had all the teams not won, I would have ended up losing my entire £25 stake in a straight gamble. (Most bookies have ‘acca insurance’ whereby if one team lets you down, you get your stake returned as a free bet but if two teams had lost, then you get zip!)
Matched betting ultimately wins hands down as regardless of the results, no money is lost (aside from small qualifying losses) and with the right selections/odds, you can make small risk free profits, which, with patience, you can build into bigger profits.
Stop Matched Betting?
I don’t want to stop just because I might be weak and succumb to temptation and revert back to my old gambling ways. I like that this side income adds to my savings and if I end up without a job long term, I will be counting on it to help cover some of my living expenses.
I have to keep my focus and make sure that my matched betting follows the way I invest, ie slowly and steadily, with growth via small increases.
That said, I can’t say for certain that there won’t be the odd ‘blip’ – there hasn’t been so far (much…).
Got to focus, got to focus and be happy to be making on average £400 a month tax free in my spare time.
I’ve only been at this for a little over 6 months now and I hope to be able to continue to reap the benefits for as long as I can.
I know, I know – gambling is a complete mug’s game – tell me something I don’t know!
Anyway, the matched betting website I subscribe to is OddsMonkey*. I started drafting this post a while ago and since then, the website has come up with a way where I might be able to satisfy the ‘gambler gremlin’ inside me with less risk. I’ll give it a try to see how it goes!
Any other matched bettors out there who feel the pull of gambling or is it just me??