Matched betting for a living probably seems like the ideal job for a lot of people. You get to stay at home and work exclusively from your computer. No boss to worry about, no annoying colleagues that you have to put up with.
If you are not familiar with matched betting please read this article
Sounds good right….. But is matched betting for a living possible?
Matched Betting For A Living
If you are a regular reader of this blog. Then you will know that I am currently undertaking a 50k in a year betting and trading challenge. The largest amount of profit from this challenge comes from matched betting and exploiting casino offers.
Here is a breakdown of profit made from matched betting
- April Profits – £787
- May Profits – £91 (made an error which cost me £330)
- June Profits -£548
Here is a breakdown of profits from casino offers
- April Profits – £885
- May Profits – £1628
- June Profits – £1108
So you can see that you can make decent money from matched betting and casino offers. However whether you could make a living from it depends on several factors.
Factors You Need To Consider
The biggest factor is how much do you need to pay the bills?
Some people can get by on a £1000 a month. For others its £5000 a month. Obviously this is the key point to consider if you were looking at matched betting full time.
How many ungubbed accounts do you have left? Do you have the resources to open more?
If you have been matched betting for a while. You will know that bookmakers don’t like it and will remove your ability to take part in promotions. After that you can use these bookies for arbing or value betting. Eventually however the well runs dry and you don’t have any more options.
Are there friends and family members that you could teach about matched betting? Perhaps take a percentage of their profits?
Job Security
You might find your job mundane and boring as hell. But is also might be very secure with a pension plan and sick pay. Matched betting for a living is quite a uncertain profession.
How long will you be able to make a living from it? Will new rules come into place which make it harder? What if bookmakers stop offering promotions?
If you do leave your job to pursue matched betting full time. Will you be able to return should things not pan out?
On the flip side though could matched betting provide you with an income that will open up opportunities in the future. With enough resources you can compound your profit over and over. This could enable to reinvest your money into pursuing a job you would enjoy.
Matched Betting Bank
Another important question to ask yourself is how much money do you have saved up?
You would need enough to cover the cost of your bills. But also have enough to spread around different bookmakers and exchanges. So that you could make the most of the matched betting offers when they are available.
It is hard for me to make an exact estimate as everyone’s situation is different. But I would say you would want to have at least enough money to pay your bills for 6 months. Then have an extra £5000 bankroll or more just for matched betting.
If you are going to take advantage of higher risk casino offers. Then you would probably want an even larger bankroll on top of money to pay the bills.
Conclusion
In this article I have pointed out some of the negative and positive aspects of matched betting for a living. If it is something you are considering my advice would be don’t rush into it.
Especially if you are quite new to matched betting it may seem like the holy grail. There is no harm in perhaps lowering your hours at work and putting more hours into matched betting. Then reevaluating your things after a few months.
Don’t get me wrong matched betting is awesome but is important to put realistic expectations on pursuing it full time. I personally know some people that do extremely well from matched betting for a living.
Could that person be you in the future? Possibly but it is important to evaluate all the factors involved before you make the jump.