Public sector worker Rob is a dad of three from Somerset. He joined Profit Accumulator two years ago and here's his story...
How did you hear about it - were you sceptical at first?
I was completely sceptical. I’m not a natural risk taker, especially not financially. I was actually on a forum looking for money saving tips at the time and saw a thread for ‘matched betting’. I had no idea what it was so started reading about it and came across the PA website.
The site wasn’t laid out like it is now but I created a trial profile and set up the first accounts. I can remember sitting at my kitchen table for about three hours that first night trying to work out what the catch was and scribbling down all the different permutations of what could happen that could lead to me losing my cash. In the end I went for it and opened the full account.
Actually, I did that later the same night once my initial bets had settled and I realised that I was on to a winner!
"It’s like having a Christmas bonus every month"
The next day I went into work and told everyone who would listen all about this amazing way to make money that I’d found. One colleague, a finance manager, looked at me like I had a second head when I explained it to him.
I scribbled down the website address and suggested he just watch the videos – the next morning he came to find me and excitedly announced “Rob, I signed up for a year!”. Given his role and stature, that was as much of an endorsement as I could have hoped for.
Is matched betting sustainable for you?
I think it’s great. It is a huge amount of money to me and I haven’t had to go out and find a second job, so I get to spend more time at home with my family.
When I describe it to people, I say it’s more like a hobby that pays me and pays me well. In some ways it’s like having a Christmas bonus every month – and seeing as how in the public sector we don’t get bonuses, it’s doubly welcome.
What do you do with the profit you make?
It’s being able to pay for the nicer things, without having to worry so much about money. I’ve taken positive steps to pay off debt that I’ve had bouncing from credit card to credit card on 0% deals since I was at university a decade ago. I’m all but debt-free now, other than my mortgage, and I have Profit Accumulator to thank for that.
Now that the debt has been cleared I’ve been treating the family to bits and pieces. We’re actually off on holiday to the French Alps later this month, all paid for by PA. I’ve also, just last week, treated myself to something I’ve always wanted but never dreamed I’d be able to afford – a Tag Heuer Monaco watch.
"I’m very grateful to be in this position"
She’s a work of art and the kind of thing that people in my position, with a family and a mortgage, gaze at through the shop window – we don’t buy them. Well now when I look down at my wrist I know that I was able to buy one and it was all paid for with risk free profit.
How much time do you spend on matched betting?
I do a little bit every day. On my lunch break or in the evening after the boys are in bed. The weekends are busiest as I mainly bet on football. I also bet on the big race meetings like Cheltenham and Ascot – next year I’m going to book the week off work for Cheltenham because there’s so much going on!
There are currently quite a few offers on for Wimbledon which is harder to fit in around work but sitting quietly with my tablet at lunchtime worked really well today.
Why does matched betting appeal to you?
I started with a float of £500, which was the entirety of my savings at the time. Had I kept that in my ISA for the last 2 years it would have grown by about £10 in interest. How else could I have turned £500 into £15,000? My money has grown by 30 times what it started at - 30 times! Sometimes, the enormity of that is quite overwhelming. I’m very grateful to be in this position.
What would be your advice to someone thinking of trying it?
Respect the process, know you will make the occasional mistake, and don’t underestimate the value of growing your float. By having a comfortable float at your disposal you really can get the most out of this process. Hold off on spending the profit and really focus on growing your float.
Are there any aspects of Profit Accumulator you particularly like?
I use the forum as much as possible. It’s just such a huge resource of like minded people who want to help.