What Are Your Matched Betting Goals?
July 29, 2016
It’s good to have targets and since you’re here at matchedbets.com to make money you should think about setting some matched betting goals and consider how to achieve them.
The wonderful thing about matched betting is anyone over the age of 18, residing in the UK can do it to earn extra money and for some, it’s their sole source of income. Its appeal is broad reaching, a great way to pay for expensive treats like holidays, the latest hi-tech TV or a season ticket to watch your favourite team.
For many students it offers lifestyle choices, using matched betting to pay off their loans, finance their social activities or even fund a gap year. You may need extra money to cover monthly bills or help pay the running costs for your child’s first car.
Once you have a clear idea of how much you want to make from matched betting you can set your targets accordingly. And, you will need to maintain a certain amount of discipline whether you want to earn £500 or £2000 per month.
How to make a living from matched betting
The amount of time you can devote to match betting will have a big influence on your earnings potential and so too, the size of your bankroll. Dedicate 20 to 30 minutes on average each day and you should comfortably reach targets of £500 per month but don’t assume spending four times that will guarantee £2000 per month. The truth is you have to work harder the higher your target but it still beats working 40 hours a week for average pay. £1500 per month is achievable for about 4 hours each day and if you can make £2000 per month, that is the equivalent of £30,000 salary as matched betting profits are tax-free.
Another thing to consider is bookmakers vary their offers and there will be spells when you will exceed your monthly target and times when you will have to settle for a little less. You can start matched betting with about £100, the bookmaker sign up offers will allow you to grow your bank steadily. It’s recommended you don’t touch your profits for the first couple of months because once you start the advanced offers you’ll need to tie up quite a lot of money.
Ambitious matched bettors who are earning over £20,000 per year will have £5000 or more in the betting exchange at any one time but are making enough to draw off a regular monthly income.
Establish a routine for matched betting
Whatever your target, it’s important to establish a routine and stay motivated. Most sporting events take place in the afternoon and evenings so you will need to consider which offers you intend to play. If you are doing in-play offers you must be available during the event, acca insurance offers will also require careful planning to ensure you are around before the kick off of each leg. Midweek tends to be quieter than weekends when there are many more sports events and hence more offers to play.
Set aside 5-10 minutes each morning to see which offers are available and, depending on your targets and bank, make a note the offers you intend to play. Less than £20 profit per day is enough to reach a target of £500 for the month. Lower targets allows you to cherry pick the best offers but you will need to hoover up everything you can find if matched betting is to be your main income.
Finally, the best way to measure progress towards your personal goals is to keep good records. You can maintain a log of your matched betting activity in a notebook or on spreadsheets. However, you’ll find the Bet Tracker integrated into the matched betting calculator to be a boon, freeing up your time to make more money.