Matched betting has quickly become one of the most popular forms of betting here in the UK. It is easy to see why this is the case, as matched betting is a relatively straight-forward process that has few risks and plenty of financial rewards, making it a worthwhile endeavor for many people willing to put the time and effort in.
Of course, matched betting isn’t just a case of placing lots of bets and watching the money roll in; otherwise, everybody would be taking advantage of it! There are some things that you need to get started, mainly some free time and a bit of money to get the ball rolling.
Having starting funds can be a stickler for many people, though, as the entire reason they are doing matched betting is to make money, so needing money to get started can make it seem far less appealing.
Thankfully, you don’t need to spend that much money starting out in matched betting, and any money you do spend will get repaid if you stick with it! Have you wondered how much money do you need to start matched betting? Then read on to find out more!
What is Matched Betting?
Matched betting is a popular type of online betting where you take advantage of free bets and offers from bookmakers. The idea behind this is that you find a free bet offer and then place various bets that cancel each other out, with the free bet ensuring you make some profit.
Back and lay betting is used for this process. A back bet is for the outcome of an event, while a lay bet is against the outcome for that same bet, so when you find two with the same odds, then they cancel each other out.
Most bettors use matched betting calculators to find back and lay bets with similar odds, doing much of the heavy lifting associated with matched betting. Once you find good odds, you use the free bets to cover the cost, meaning your wins are 100% profits.
Because the betting industry is so competitive, there are countless free bet offers you can use to make great earning from matched betting!
However, finding all the suitable bets takes a lot of time and research, with prior understanding of matched betting being essential for success. Thankfully, there are thriving online communities where people help each other find the best free bets and odds to successful place matched bets.
So, if you put in the initial hours, you can pretty much guarantee a profit without any financial loss, although you do need some money to place a few bets when using the matched betting system.
Lots of people are taking advantage of matched betting to make a decent income each month. You do need some free time to do your research, however, which is why many opt to do so part-time, supplementing their main income or just to make some cash on the side.
How Much Money Do You Need to Start Matched Betting?
Like any financial endeavour, matched betting requires some start-up funds to get the ball rolling. Many feel they need to have a huge disposable income to get started, but this is not the case, as even just a few hundred pounds can be more than enough when starting out.
In fact, £200 is the perfect amount for most people getting started in matched betting.
Why this amount? Well, it all comes down to the fact you need to choose the highest back and lay odds, as the higher these numbers, the more you make from a matched bet. When choosing higher back and lay odds, your winnings and losses are higher, making it more worthwhile for your bets.
However, with this comes to a higher liability, which is the amount you lose at the betting exchange when your bookie bet comes through. It may seem bad to have a higher loss, but because all outcomes are covered, you are not losing any money, instead of making a bit more from choosing a bet with a higher back and lay odds.
You just need the money to cover the liability on a betting exchange. Choosing lower odds lowers the liability rate, meaning you need less money to get started, although it means smaller win margins too.
With matched betting, you want the highest possible profits from a free bet, preferably around 80%. For example, if it’s a £10 free bet you want to make at least £8. If you do this across all bets, you can make some serious cash without any risks.
£200 isn’t too much and should be more than enough to cover the liability costs. You can make the money back in no time too, so even if you need to borrow the cash from a friend or relative it will be quickly repaid.
The More Money You Have the More You Make
£200 is the starting point for matched betting – anything less, and you don’t make enough from free bets to make it worthwhile. If you have more money than this, consider using it when starting matched betting, as it means larger profit margins.
How? Because the more money available, the more reload offers (free bets for existing customers) you can run at the same time. The more bets you are placing, the more money is coming in, so you get a bigger turnaround from your first bets.
Of course, the idea of tracking multiple bets at once seems daunting, but it is something you will master in no time, as it is one of the key aspects for successful matched betting. Again, there are many great online resources that can help source and track all your bets, making the entire process even easier.
So, if you have at least £200, you are good to get started in matched betting. If you have more, even better, as you will see some nice profits as you can process more reload offers to gain higher profits over a shorter period.
We hope this has helped answer the frequent question of how much money do you need to start matched betting.