Matched Betting Advice Build A Bank
July 11, 2016
For newcomers to this method of money making online, one of the best pieces of matched betting advice is to build a bank. It’s great to start out with a couple of thousand if you have it to spare but many people looking to earn extra income are not in such a fortunate position.
Students, young couples, low paid workers and many others in need of a way to boost their income will require a low cost start up and that is entirely possible with matched betting but it requires a thoughtful approach. Earning £500+ each month is fairly easy in the first couple of months thanks to the number of bookmakers giving free bets and bonuses to new customers. However, some of the bonuses are so big that extracting the maximum cash can require over £1000 in the bank and this needs to be taken into consideration before signing up for the offer.
Anyone can start matched betting with as little as £50. Remember, this cash is not at risk because using matched betting to cash in on sign up offers, you are guaranteed to profit when done correctly. The reason a bank is required is to cover the deposit for the first back bet with the bookmaker and allow for enough money on the betting exchange to cover the lay liability. If you are new to the concept of backing and laying it is explained in detail in this article which explains how to make a tax-free income from matched betting.
A £50 bank will be enough to take full advantage of an offer that gives out £5 free bets such as Coral who give four £5 free bets when placing a £5 bet with real money. To extract the maximum from a £50 free bet is likely to require a bank in the region of £300 so you can see the benefit of allowing your bank to grow.
There is the option to go for a smaller portion of the offer, for example instead of betting £50 to earn a £50 free bet, you can bet £20 which would earn a £20 free bet on the same offer. But why lose out on £30 when all that’s required is a little patience? Hold on to those early profits for a while until you build a decent bank, £1000 or more if you can resist the temptation to spend the cash straight away. This will provide the finance to extract the maximum from the biggest and best bookie bonuses and will also you allow you to do multiple offers at the same time, another tip that will increase your income from matched betting.