Is it possible to take up matched betting full-time? It's one of the most common questions about matched betting, as some people wonder whether it's a sustainable method of generating an income.
Matched betting is certainly a great way of earning a few extra hundred pounds a month, depending how much time you have to spare.
It requires a lot of self-discipline
Making the switch to full-time, however, is a big step. About 40 current PA members are full-time matched bettors and they have shared their advice on about what to consider before making the leap.
Matched betting full-time - what to think about
To go full-time, you'll need to be able to do most of if not all of the offers. For this, you'll need as large a bank as possible, especially when it comes to covering the liability on accas and racing refunds. A large bank also means you can afford to wait for withdrawals when trying to move money around.
Knowledge and experience
To even be considering going full-time, you will be an experienced matched bettor. But if you still rely on support from the forum and our step-by-step guide then you are probably not ready to go full-time. Potential full-time matched bettors will already have a good idea of how much each offer is worth and how to execute to generate maximum profit.
How much are you making already?
Do you have reason to think that spending more time matched betting will bring in a lot more money? If you are already making a good amount from matched betting while working in a 'normal' job, then you need to consider whether the extra time spent on matched betting will be worth the return. It could be that you already have the optimum scenario.
Are your betting accounts in good health?
To do the maximum amount of offers, you will need as many bookie accounts active as you can. You need to have looked after your accounts to avoid being "gubbed". You need to be committed to looking after your accounts to be confident about going full-time.
Are you really ready to ditch the 9 to 5?
There's a lot to be said for having a regular income. The profits made from matched betting will vary from day to day and from month to month, so you need to be sure you're comfortable with that concept. You also need to consider what your new hours will be. Weekends and evenings is when most sports are played, so any serious full-time matched bettor will have to accept that those are when the work needs to be done.
Full-time matched bettors are their own boss. They work when they choose and for as long as they choose. This sounds great, but it requires a lot of self-discipline. Working from home has many obvious advantages, but it can also be less sociable than, for example, working in an office. You need to think about whether this will suit your personality.
Going off the grid
Matched betting earnings are tax-free, which is obviously great, but the downside is you will not be able to borrow against your earnings, for example, getting a mortgage. If you are thinking about moving house or buying a new home in the near future, you will need to consider this.
Members' advice on going full-time
More than 40 PA members are full-time matched bettors and have discussed the subject of making the switch on the forum.
Here's what a couple of them have to say.
djtito1981: My advice would be to think it through properly and take into consideration factors like betting bank, equipment (PC or laptop) and, mainly, knowledge.
Stan: You really need to prioritise the most lucrative offers. For example, if you only have a couple of hours on a Saturday, I would personally dedicate all of this to extra places. This can be massively profitable and - if you can cover the entire field - you can lock in far more profit than if you'd focused on the standard racing refunds. A lot of people say casino offers are a waste of time but that's simply not true. Once you understand the maths involved, providing you hit enough offers you are almost certain to profit in the long run (providing the offers are +EV). It's all about optimising your working methods and managing your time efficiently.
Meet the Members: Angela's matched betting experience