As you already probably know, we have a huge variety of advises on this site, from our matched betting basics to our slightly more broad and advanced matched betting tips, we appreciate it can be overwhelming for some people, especially if they are beginners. We generally recommend “consuming” the majority of common questions/topics about matched betting, but sometimes not everyone wants to go searching through all our guides to find the piece of advice they’re looking for. Therefore, in this post, we’re going to highlight some of the most common beginner tips.
1. How can I start matched betting?
You can start immediately by just using our Betting Zone which covers Matched Betting Basics and more Advanced Topics. Also, check our Get Started Page to see the only 3 steps for starting earning free tax money. Obviously, we would recommend first to cover the common terminology and the basics for matched betting, but in the end is up to you how you want to develop your knowledge: pick as you go or study in advance of actually starting the earning process.
2. Sporting or Betting Knowledge is a must?
Simple answer: NO. You will learn how to place bets during the process if necessary, and all bets are found for you via simple-to-use recommended software and/or our guides. Most of people that start matched betting have never placed a bet in their past and many more have no actual interest in sport whatsoever. One of the first important tips is to learn how to change the odds formats on bookmaker sites so you can match the format of decimals to your Exchange Market format. We recommend to use decimal odds due to using calculators and they also make it much easier for you to work things out along your matched betting experience.
3. Should you use a New Bank Account?
We would recommend setting up a new bank account for matched betting or any kind of betting in general. Is really handy and clearer to keep your betting side away from your everyday banking/expenses. However, is not essential.
Your credit score will not be affected by gambling; by signing up to or using bookmakers or casinos. However, if you wish to apply for a loan or mortgage, having hundreds of betting deposits may look suspicious and could require additional explanations by your lender. A high percentage of people manage to still get their loan or mortgage with these on their statement, but it may be wise to avoid this kind of conversation in the future.
If opt in for using a new bank account, make sure it’s not 100% gambling related. Pay some bills and buy things at least fairly regularly through the account. Continuing to use your current bank account should not be a problem and does allow you to start betting a little quicker than setting a new one up. We believe is up to you and is entirely your decision and your personal preference.
4. Should I get another Email Address also?
We believe is really handy and clearer having a separate email address. Allows you to keep track of the extra offers the bookies are sure to fire your way. along with their reminders for your remaining free bets that are due to expire. We wouldn’t want to lose these opportunities just because are mixed with our already cluttered everyday email accounts. As we know, our daily accounts are stuffed with promotion, marketing offers from all the places we visit, sites we bought from or job offers with are aiming for. By the end of day, the bookmakers’ free bets are our means to reach our financial objectives from matched betting.
5. Are you ready for your bookmaker’s “Know your customer” process?
‘Know Your Customer’, means that bookmakers and casinos will have to identify who you are when you setup your new account with them or, in most cases, later on they will ask to confirm this aspect. To help with this, we recommend that you take a picture of your ID – front and back – and a recent utility bill now. This will just save you time when you’re inevitably asked to verify your account. Remember, keep this information securely stored.
6. Should you be a Real Punter?
Once you install or access a bookie’s site/app, they will start monitoring your behavior as a bettor. They know full well there is a matched betting phenomenon in full swing and they will take all the precautions to limit your profits. If they suspect an everyday bettor of making profits out of them, they are well within their rights to “gub” you and restrict your accounts.
But, by appearing like a regular betting Joe, you can prolong this happening and keep your accounts open. Open accounts will bring their offers which means will keep you profitable. One of most used tactics is to place “mug bets”. A mug bet can be described as a bet that most people would make. Betting on high profile teams such as Liverpool, Manchester United, Arsenal, Chelsea, Spurs to win. Especially at home. That said, we want to make sure that your odds are at least 1.5 – anything less and we might also appear unattractive to bookies for being too frigid.
We suggest to make two mug bets for every bonus you take up as a useful strategy to appearing normal.
7. How do I do this Outside of the UK?
Unfortunately, we only currently help UK-based users to take advantage of offers and bookmakers. If you have access to a betting exchange then you can ‘back and lay’ following the same methods that we teach in our Betting Zone. You can check the websites of Betfair, Smarkets, Matchbook and BETDAQ to see if they allow customers from the country you’re residing in.
If you do not have access to a betting exchange, you must swap the idea of matched betting for dutching. You can find more information here.