Compared to other matched bettors, £5,685 is a very modest amount! I've seen others make that, or even more, in their first year.

It all depends on how much availability you have to catch the good offers. 

With two young children, we were often visiting friends or at a kid’s birthday party at the weekend, so I sometimes missed the really good offers.

However, I did experience being a matched bettor for two years, and I have a few matched betting beginner's tips to share with you today.

Here are five matched betting tips for beginners:

1.     Open a dedicated bank account

Firstly, before you even start matched betting, it’s a good idea to open a dedicated matched betting bank account.  This will be the debit card you use to sign up to all the bookies to deposit cash and to extract your winnings. 

This saves the transactions from being visible on your regular bank statement if you are looking to get a mortgage and need to show your main bank statements. 

I’m not sure if matched betting will affect a bank’s decision to lend to you, as ultimately it’s a way to make money, but it could look bad having numerous outgoings to bookies!

Read more here: Does matched betting affect mortgage application?

It also makes it easier to manage your matched betting pot of money if it’s separate from your usual cash flow.

2.     Take your time

There’s no need to rush through the offers, so take your time. 

There is plenty of money to be made, and it’s better to get your head around what you’re doing than to rush and make a mistake. 

Make sure you double-check your entries to ensure you have entered the correct amounts where they need to be and there are no typos.

Matched betting might seem time-consuming at first, whilst you are a beginner, but you will be surprised at how quickly you get the hang of it and get speedier.  Just allow yourself enough time at the start to read and watch the tutorials.  Don’t think it will always take this long.  You’re just learning!

3.     Track your bets and profits

I sometimes had 10 or so bets placed at any one time, so it was really important to track these.  I love Excel, so I set up a spreadsheet to note where I had bets placed, dates and times they were ending and a quick description of the offer and free bet I was to receive.

I’d highly recommend creating your own system to document your betting activity.  You don’t want to forget about a bet placed or forget about a free bet deadline.  Excel might not be for you, so work out a system that keeps you organised.

I also tracked my profits on my spreadsheet so I knew exactly how much money I made from matched betting.

4.     Do it in peace and quiet

To stop yourself from making any mistakes or losing your train of thought, make sure you have some peace and quiet to place the bets. 

Being distracted by kids, for example, could cause you to forget to place a bet or try to rush things and make a typo, so make sure you stay calm when placing the bets so you can concentrate and double-check your entries.

Of course, kids can be unpredictable, and one minute you have calm, and the next all hell breaks loose, but just try to find a time when your other half can watch the kids so you can check matched betting offers and place your bets.

Or do it when you know they are napping or entertained for long enough.

5.     Sign up to Outplayed

I recommend using Outplayed for your matched betting journey.  Outplayed currently offers a 7-day free trial, so you can try it and see your first profits before paying anything. Just remember you'll need to enter card details, and it rolls into a paid subscription unless you cancel within the 7 days.

Easily follow their step-by-step guides and videos. I didn’t 'get it' at all, and didn’t for a while, but I followed their instructions, used their calculators and made lots of matched betting profit. 

The only time I didn’t make a profit was when I made an error myself and typed in the wrong amount.  Doh! 

So follow points 2 and 4 above to make sure you aren’t distracted!

Outplayed have software and calculators that make the whole process really, really easy.  Anyone can do it following their professional advice.  I have no clue about betting or sports, and yet I was able to easily follow their instructions and use their tools to make extra cash every month in my limited spare time.

Matched betting mistakes to avoid (that I made)

Matched betting is low-risk, not no-risk. The maths works every time, but the risk comes from you. In my first 40 days I made £753.62 profit, but it should have been closer to £850. These three mistakes cost me the difference.

Mistake 1. Not checking the wagering requirements

I took a sign-up offer thinking it was a normal free bet, but it was a bonus with 30x wagering, meaning I had to bet £100 through thirty times before I could withdraw. I didn't have enough bankroll to finish it, all my money ended up stuck in the bookmaker, and I had to withdraw early, which cancelled a £200 bonus.

Lesson: read every offer's terms, and make sure your bankroll can cover the wagering before you start.

Mistake 2. Panicking over a balance I couldn't withdraw

I had £15 left in a bookmaker account with an £18 minimum withdrawal. Instead of placing a proper matched bet to move it, I put it on a random bet to get rid of it, and lost the lot.

Lesson: never rush. There's always a matched betting way to move a leftover balance safely.

Mistake 3. Rushing a reload offer

Once I felt confident, I jumped into a "bet £10, get a £5 free bet" offer without reading the terms for this new offer, assuming it was the same as others, and lost £10.

Lesson: don't get complacent. Re-read the instructions every time, however many offers you've done.

Matched betting explained + made easy

More matched betting posts

See my matched betting page for my full profits, milestones and answers to the most common questions, including whether it's legal, tax-free, and whether it affects a mortgage application.