Hey, like you I probably stumbled upon an advert or blog talking about Matched Betting as being the latest best thing for making risk free returns of up to £1,000 per month tax free.
Update: Profit Squirrel is no longer trading so I now use the Oddsmonkey matched betting site with great success!
And like you, I thought no way, if it sounds too good to be true, then it probably is.
However, as my website and blog is all about making money, I took it upon myself to put my money to the test and try Matched Betting on your behalf.
So, after a number of weeks of online due diligence on various matched betting sites I decided to try Profit Squirrel’s VIP services, costing £250 for a lifetime membership.
There are other options such as the free version, or monthly fee version but as I have very limited time available, I went for the VIP service, whereby Profit Squirrel do 90% of the legwork for me, although I still have to do 10% of the work myself such as setting up the bookmaker's accounts.
Profit Squirrel Review Day 1
I pay my £250 for the VIP service then read through the introduction email / videos and guidelines. I am allocated an expert on WhatsApp.
My online guide provided suggestions of what to do, and I signed up to William Hills free £30 bet offer if you place a £10 bet and Betfair as the lay (opposite) market.
I invested £10 in each and my outcome was going to be - 0.58p either way, as the cost of a qualifying bet, but of course I then earn £30 of free bets with William Hill.
Profit Squirrel Matched Betting Day 2
OK this is where the real money should be made! I asked my guide for a bet and they suggested a horse race to begin with. I declined the horse bet as I wanted to fully understand the match betting principle on football matches to begin with as the Profit Squirrel website says that’s the easiest to learn.
I was then given a bet for £30 (my free bet) with on William Hill, I then had to add £70 to my float/bank with Betfair in order to place my lay bet. This is known as the liability, but it is still your money and is safe.
Quick tip, you can't bet the full £30 on William Hill in one go, you have to bet 3 x £10 on the same bet, so watch out.
Once I had placed 3 x £10 back bets with WH, I placed my opposing lay bet on Betfair, so far so good.
That's when I noticed that the odds on the William Hill site were not the same as the profit squirrel odds calculator had suggested, Yikes my first error as my matched bet was not matched.
Luckily, I raised the problem with Profit Squirrel on the WhatsApp Messenger and they quickly came back with a fix for me and then I was balanced again.
The bet ultimately settled and from my original free bet stake of £30, I earned £23 profit, not too bad and exactly as stated on the Profit Squirrel calculator.
Matched Betting Profit with Profit Squirrel in first 7 days
Matched Betting Review Days 3-7
I repeated the process another 5-6 times over the following week and can now confirm with confidence that matched betting is not a scam, it is a real thing and can earn you some additional tax-free cash each month to put towards something you want, or you could invest it!
You won't earn a million pounds by matched betting, but if £250 - £1,000 tax free per month would be useful, then its certainly worth taking a look at Oddsmonkey here
Matched Betting Handy Tip
An important lesson was learned on my first transaction. You need to pay attention to the odds quoted on both the profit squirrel calculator, and also the bookmakers you are placing your bets with and the exchange market you are placing your lay bet with. The odds can move from time to time, so just double check before your final click.