Is Matched Betting Worth It? [A Complete Beginners Guide]

Does matched betting work? Can you really make money through it? Is matched betting still worth it in 2025?

Matched betting is a hot topic in any side hustle forum you might come across. Put ‘how to make extra money in the UK’ into google and it’ll probably get a mention or two in whatever article you read.

But what is matched betting? Is it really a thing or just another ‘too good to be true’ sounding scam?

Well, it’s definitely a thing. It does work. It is legal. You can make money. But you need to make sure you’ve done your research before dipping your toes into matched betting waters.

In this article, we will breakdown all you need to know about matched betting – pros and cons, how it works, things to consider and of course if it’s actually worth doing.

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Matched Betting for Beginners

Disclaimer

Before we begin, I’d encourage you to read this section carefully and consider whether matched betting is for you.

Whilst matched betting is certainly NOT gambling, you are required to place bets which will obviously involve registering with bookmakers and using gambling platforms.

There are also elements of it which can lead to gambling IF you are the type of person who is tempted to go outside the ‘rules’.

For this reason, I will be concentrating my efforts in this article in explaining the sports side of matched betting which is methodical, mathematical and less tempting to chase ‘big wins’ or ‘jackpots’.

There are risk free casino offers, but casino is where people are most likely to gamble their own money so I prefer to leave it completely alone. If you feel you might be tempted, I would avoid matched betting altogether.

You might also enjoy…Everything You Need to Know about Side Hustles and Tax

What is Matched Betting?

Okay, so now we have the important stuff out of the way, let’s get to it.

What actually is matched betting? Well firstly, it is NOT gambling.

Bookies (bookmakers) tempt people in to bet with them with free offers and promotions.

Matched betting is essentially using these offers and promotions to leverage a profit – but covering ourselves so that we don’t lose money in doing so.

To do this we cover all outcomes of a bet, so we can’t lose.

In a nutshell we back an outcome with the bookie, and lay it with the exchange.

Not making sense? Don’t worry, we’ll cover exactly what this means.

Matched Betting Terminology

If you’ve never placed a bet before, then a lot of the terminology used in Matched Betting might feel unfamiliar to you, whilst you definitely don’t need to have gambled in the past to try matched betting, you will need to understand the language, so here’s a quick run down of the main ones.

(In this section I refer to calculators – these are tools available to Outplayed members* which work out your bets for you.)

Back bet

This bet you place with the bookmaker. You are betting for something TO happen. E.g. Wales to win.

Bank

The amount of money you have available to use for matched betting.

Bookie

The bookmaker – e.g. PaddyPower, William Hill etc.  The company you place your bets with.

Each way

If you place an Each Way bet, you are backing a horse to win, but you are also backing it to place (usually this would be coming second or third, though it depends on the number of runners (horses) in the field and the number of places (i.e. top 3/4/5 etc) that a bookie is paying out on that particular race).

So for example, if you bet £10 EW on a horse, the bet would cost you £20 – £10 bet on the horse to win and £10 bet on the horse to place (paid at a fraction of the odds which are displayed at the bottom of the list of runners).

Exchange

The Exchange is where we place our lay bets (bets against an outcome). The main exchanges are Betdaq, Betfair, Matchbook and Smarkets.

We tend to stick with Betfair and Smarkets – though this depends on the commission (sometimes they have no commission promotions).

The exchange charge a commission (e.g 5%) so this needs to be factored in when placing matched bets (don’t worry – the calculators will ask and adjust for this). No commission = more profit.

Gubbing (being gubbed)

Being ‘gubbed’ means you’re no longer eligible for promotions or offers on your bookie’s account.

This is quite common and gubbing can happen quite quickly as you work through the sign up offers.

Don’t worry if you get gubbed – it happens.

I’ve been gubbed from a lot of bookies but still make good money matched betting – it is possible.

Lay bet

You are betting for something NOT to happen. E.g. Wales NOT to win.

You place lay bets with an exchange.

Liability

The amount of money you lose if your lay bet loses.

Don’t be put off by this, especially if the amounts seem big.

If you lose money at the exchange, your back bet with the bookie will win which just means that your money will end up there instead.

Qualifying Bet

This is the bet you place with your own money to qualify for an offer (eg bet £10 get £10 free).

Qualifying Loss (QL)

The money that you lose when placing a bet to qualify for an offer.

Normally, you would take 95%+ and therefore, so you’d lose £0.50ish per £10 bet.

On some occasions, you can even make a small profit (which is called arbing – a complete strategy in itself).

Stake

The amount you bet.
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How to Start Matched Betting

Sign up to Outplayed

Before you begin, you’ll want to sign up to Outplayed*. Here you will find everything you need to successfully matched bet.

Complete the Training

On your dashboard when you log in, click on ‘Start Here’ and work through the training tutorials.

Tempting as it is to go in all guns blazing, take some time to watch the videos and read the articles – it’s all there to help you learn and to understand the process.

As long as you understand what you are doing, matched betting will be risk free.

Complete the Sign Up Offers

Once you’ve worked through all the training guidance, read and reread the how tos and feel ready to get started, you can move on to completing the sign up offers.

You’ll find these in the offer categories (circled in the image below).

You can tick them off as you complete so you know where to pick up from each time.

Making Money Matched Betting

How Much Money Can You Make Matched Betting?

How long is a piece of string? You can make as much or as little as the time and effort you put in.

Personally, we just tend to focus on big sporting events now and aim for a big profit for that event as we have too much else going on in our life to commit regular time to it.

However, on occasions that we’ve wanted to cashflow a large expense like a holiday, we’ve jumped back in to generate extra money.

As I mentioned earlier, we fully funded an all inclusive holiday by just completing sign up offers, so the money is there!

Is Matched Betting Worth it in 2025?

Yes. Though it’s widely accepted that the offers aren’t quite what they used to be, there’s still money to be made.

In Cheltenham 2025, we made over £430 in just 4 days.

Can You Make a Living from Matched Betting?

Would I give up my job to do it full time? Probably not, but there’s an entire forum thread on Profit Accumulator dedicated to making £1k+ per month.

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Matched Betting FAQs

Can You Still Make Money Matched Betting if You Already Have Bookie Accounts?

Though you can make a real good sum of money from completing sign up offers – don’t panic if you already have some bookie accounts.

Matched betting will open your eyes to just how many bookies are out there – I almost guarantee there will be some sign up offers you can still complete.

And of course, for the accounts you’ve already opened – there will often be other promotions and offers, as the bookie wants you to continue spending money with them.

Can You Make Money Matched Betting After You’ve Completed the Sign Up Offers?

Despite the common misconception that there’s no money in matched betting after the sign up offers are gone – you can still make money.

We made over £430 at Cheltenham 2025 by focusing on just one advanced matched betting technique.

Matched Betting Myth Busting

Is Matched Betting Legal?

Yep! As long as you’re over 18 and opening accounts in your name (bookies often want you to prove your identity), then crack on!

Are Matched Betting Earnings Taxable?

No. In the eyes of HMRC it’s still considered gambling, and ‘winnings’ as such are not taxable income.

Can You Lose Money Matched Betting?

Yes. Though it’s touted as ‘Risk Free’, it’s only risk free if you do it right.

Even now I’ve made mistakes – for example, I might think I’ve placed a bet and gone on to lay it…when actually I didn’t click ‘confirm’ and so the original bet wasn’t placed.

The trick with matched betting is to stay calm and collected.

I’m naturally quite a stressy person, so at times when the odds fluctuating quickly I do find it quite stressful placing my matched bets.

But just double check what you’re doing, recite a checklist for the offer you’re doing if it helps:
back bet placed – check
lay bet placed – check
lay bet matched – check….etc.

As long as you follow the method of the offer you’re completing correctly, then you won’t lose money (save for small qualifying losses in some circumstances).

Does Matched Betting Affect Your Credit Score?

This is a hotly debated topic and whilst some people say that it can hamper your efforts to get a mortgage, it won’t affect your credit score.

Bookies do a ‘soft search’ when you sign up and this doesn’t show to a lender on your credit report, so will not affect your likelihood of being accepted for credit.

However, where some people believe it DOES hamper your credit is mortgages. This is because when you apply for a mortgage, you’re asked for copies of your bank statements…and hundreds of betting transactions are going to look suspect.

I actually didn’t have any issues obtaining my mortgage (you can read more about that here: How to Prepare for a Mortgage as a First Time Buyer) but to err on the side of caution I would stop all matched betting 6 months before you intend to apply for your mortgage.

Do You Need Lots of Money to Start Matched Betting?

No, you can start with around £60.

However, the bigger your bank the more quickly you can work through offers, the more liability you can cover and the more money you can make.

If you don’t have a lot of money to start with, it’s still possible to make good money – it will just take time.

Leave your profits in your bank and it will build up gradually over time.

Is Matched Betting Complicated?

When you understand it, no – it isn’t. But getting your head around it initially? Yes, it is.

But as with most things, the more you practice, the easier it becomes.

My advice to anyone with anything is always do your own research and with matched betting, I cannot stress that point enough.

Matched Betting for Beginners – Top Tips

Do Your Research

Join Outplayed* and make the most of the resources available.

It can be tempting to dive straight in, but if you do this without fully understanding the process you will lose money.

Take advantage of the plethora of guides, walkthroughs and articles that Outplayed offer. There is so much value for money in the membership – offers and calculators aside, the wealth of information available to newbies is invaluable. Can’t find the answer you’re looking for? Ask in the forum.

Read, read and read some more – this will always be my number 1 tip when it comes to starting to matched bet.

Have a Plan

Don’t try to do too much at once. Though your bank might stop you from doing this anyway (if you don’t have enough money to cover your liabilities at the exchange), taking on too many offers in one go is where you might start to make mistakes.

As a newbie, work your way through sign up offers first and practice your learnings before worrying about more advanced matched betting techniques.

Beginners have guaranteed money coming their way from the sign ups, so focus on that.

Stay Organised

A spreadsheet is a lifesaver for matched betting. It doesn’t have to be fancy. But it helps to know what deposits you’ve made, to which account and when so that you can find your money later.

As you’re backing and laying your money could end up in the bookies accounts or in the exchange.

Having a spreadsheet helps to keep your organised and on top of how much profit you’ve made.

Outplayed* also have a profit tracking tool to help you keep on top of the offers you’ve completed.

Reinvest Your Profits

As I mentioned earlier, the bigger your bank the bigger your profits.

While it can be great to think ‘I’ve made £x of profit this month!’, don’t take it all out because you’ll need it if you wish to continue making money with matched betting.

Perhaps agree a bank figure with yourself e.g. I have £1,000 for matched betting. and then withdraw profits beyond that amount.

Sign Up Now

Ready to get started? I use Outplayed* – it costs £39.99 per month for Platinum Membership (or £350 a year) and while this might seem a lot to a newbie, trust me when I say it’s worth it and you will easily recoup that money.

You really cannot matched bet without a membership to a site like this.

You can save money by purchasing an annual membership upfront (just £350 for the year), but if you think you’ll only be dipping your toes in occasionally it’ll probably be better to have a monthly payment which you can cancel at any time.

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The Pros and Cons of Matched Betting

PRO – Tax Free Cash

The biggest one for me – every penny you make is tax free. You do not need to declare it as a second income, you do not get taxed on it and all your profit goes straight into your pocket. You can earn up to £1000 a year tax free from ‘trading income’ (casual second income eg babysitting) but everything after that needs to be declared. Not with matched betting – your earnings will always be tax free. I also wrote about it in this post.

PRO – Time/Reward Ratio

Whenever I post on Instagram about Survey Sites, you can almost guarantee there will be someone quick to inform me that I’m wasting my time earning pennies and that they are many more fruitful side hustles available including Matched Betting – whilst I do believe that there is a place for Surveys and they can be worthwhile, I don’t disagree and Matched Betting is definitely the highest ranking side hustle where monetary compensation for time put in is concerned. You can make hundreds a month for putting in as little as one hour a weeks work with matched betting, not many side hustles can compete with that ‘hourly rate’.

PRO – “Risk Free”

As long as you understand the process and do it right, your money is never at risk. It’ll either end up in your bookies account or in the exchange. Before you start, ensure that you do lots of research and reading. Check you’ve followed all the steps and check your bets before you confirm them. Then check that you have confirmed them! Some bookies have a ‘place bet’ button followed by a ‘confirm bet’ – make sure your bet is actually on!

PRO -Flexibility

Whether you have a few hours to spare a week or you have lots of free time you can make money matched betting. Lots of people fit it in around full time work, study and family life. However your day looks you can slot a little bit of Matched Betting in and the amount you get out depends on how much effort you put in. If you need to get some money together to help pay for Christmas, or a holiday etc you can put more hours in than you usually would and reap the benefits. If you don’t really have the time and a particular need for the money, you can take a step back and put less effort in. It’s completely up to you.

PRO – Unrestricted Potential Earnings

Following on from the point above, the earnings potential is unrestricted. Put more effort in, get more money out. As your bank grows, you’ll be able to complete more offers and earn even more money. Full time traders with large banks make thousands a month.

CON – Hard To Understand

Matched betting can take a while to get your head around and that’s probably the main reason that more people don’t do it is because they don’t fully understand it. Some people just see it as gambling and cannot fathom that it is actually risk free and when you explain the logic behind it, they still don’t get it. That’s fine, it isn’t for everyone – but as I’ve said a thousand times before – if you’re considering starting be 100% sure you know what you’re doing.

CON – Limited Bookie Life

Quite often when you consistently take advantage of bookies offers they will start to place restrictions on your account which limit the amount of money you can stake on a bet and in some cases they will close your account completely. This is known as getting ‘gubbed’ (banned from promotions) and is quite common in the matched betting community, account closures are less common but it can happen. Bookies are allowed to do this, they don’t need to offer an explanation. It can be frustrating but you just have to accept it and move on to the next one.

CON – Mistakes Can Be Costly

I know I’m labouring the point here but it’s so important. Understand the process, double check the steps, make sure everything is in order. Mistakes can be costly.

CON – Offers Are Declining

As matched betting becomes more popular and more people take advantage of the offers, the bookies are beginning to offer them less and the offers they do have are less profitable. That’s not to say you can’t make money anymore, the offers just aren’t as plentiful as they once were.

CON – Money’s Tied Up

Obviously to matched bet you need to deposit money into bookies and exchanges. Your money will be tied up until the bet is complete (eg you may put a bet on today for a football game next saturday) and then when you withdraw it can take a few working days to get the money back in your account.

CON – You Need  A Sizeable Bank To Make Big Money

To make a decent income matched betting, you need a considerable bank. You can start to make money with as little as £50 but it will be a slow process building the money up. The more you have, the more you can make and the quicker you can make it.

CON – You Have To Be Organised

You need to develop a system for tracking your bets, your deposits and your profits so that you know how much you’ve made, what free bets you need to place and when, and where your money is. When you have a lot of bets on with a lot of bookies it can be easy to ‘lose’ money. We like to use Outplayed’s profit tracker tool and our own spreadsheet tracker.

Interested?

There are a lot of websites you can use for matched betting and you can shop around but we personally use Outplayed*. We’ve used other sites in the past and have found this one to be the best value for money. They are constantly updating their current tools, developing new ones to remain competitive and provide the best customer support we have seen.

Other Ways to Make Money Online

There are lots of ways you can make money online.

Not sure where to start? Check out my money making archives here.
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