Side Hustle Series: Matched Betting vs Dropshipping

Our new side hustle series takes modern side business ideas and pitches them against each other.  This week we're looking at Matched Betting and Dropshipping, the costs involved and what it takes to make them a success.  So what’s the difference?

If you’re here the likelihood is that you’re aware what Matched Betting is. Simply, It’s a type of betting that takes advantage of betting companies' free promotions. You can convert this into an income by betting on both outcomes of an event and maximising the free offers.

It's also important to note that any gains from matched betting are tax-free, so you won't have to worry about factoring in tax like you would if you made more than £1,000 in self-employed income. You can utilise a variety of matched betting calculators to assist you weigh your bets and make informed selections in order to gain money. 

Dropshipping is almost a complete business solution used by many people around the world.  The customer places an order on the dropshipping site, the dropshipper places the order on behalf of the customer, and the supplier fulfils the order by shipping the items to the customers. The supplier doesn’t usually have any contact with the customer other than issues around returns.

It’s an excellent way to get into e-commerce without having to pack your home with inventory or deal with manufacturers, but how do these two side hustles compare?  Read on to compare these popular way of making income on the side;

Investment
With Matched Betting you can get started for as little as £50 - this will allow you to perform your first Matched Bet.  However, starting with the lower amount will require you to wait for those funds to then reach your bank account, which means you won't be able to take advantage of all the bets available.  Starting with a sum like £300 - £500 will allow you to cover a wide range of bets and maximise your profits without waiting.

As you can imagine, starting a website is never going to be cost free, however Dropshipping is a lot cheaper than getting an agency to develop a completely bespoke website designed by a graphic designer. 

Shopify for example is built with dropshipping in mind and has a vast range of templates available along with an easy way to select products, then integrate them into your store.  They provide this for a small monthly cost of around £24 /pm with the higher tiers offering more analytics and products.

Speed 
In terms of how long it will take to see a return on your investment - the biggest hurdle you’ll encounter with Matched Betting is the time it takes to learn how to do it.  There are plenty of resources available to learn how to do it effectively as well as a bustling forum for members where you can share experiences and ask questions to those who have been Matched Betting a long time.  Essentially, once you know what you’re doing you can get started immediately. 

Dropshipping will require some albeit, not necessarily a large amount of knowledge of both website management, which allows you to pick an e-commerce option and manage the subsequent website build as well as digital marketing, which you’ll need to advertise your products via Google, social media or even via traditional means. 

Once you are clear on this there will be a delay between the site launch and when customers arrive to the site purely because dropshipping is a largely competitive industry and there will be plenty of people bidding for the same customers you are.

Effort
Like anything, results largely depend on the effort you’re willing to put in and Matched Betting is no different.  You can dedicate half an hour a day to it and make profit or you can dedicate as many hours as the betting offers dictate and maximise your returns.

After you have your products outlined, your site built and your marketing decided what remains is the (not) small task of running your site, which requires consistent marketing changes based on your engagement figures, your site optimisations based on your organic traffic figures and your conversion optimisation which involves analysing how customers interact with your website and where they may be spending most of their time or indeed what element on the site is causing them to exit.

WINNER
Matched Betting

Whichever method you choose you will need to prepare to spend some time building either a store or your own knowledge base to ensure your efforts translate into profit.  We of course recommend Matched Betting over dropshipping, due to the nature in which your investment remains safe and your efforts translate directly into profit. 

Being sure of the equation (effort = results) is rare when starting any business or hobby for that matter, which is what makes Matched Betting unique in its methodology.

We hope this article is helpful when researching your next side hustle.  Stay tuned for more entries in our side hustle versus series throughout the year.