Matched betting offers a unique avenue for individuals seeking to improve their income with a side hustle. Unlike traditional gambling, matched betting is not reliant on chance; instead, it utilizes calculations in order to capitalize on bookmakers promotions.
For those interested in supplementing their income, saving for a specific goal, or simply enjoying some extra spending money, matched betting can be a viable solution. But how do you make matched betting a side hustle? Well, in this article, this is the questions we aim to answer. With the right approach and a bit of dedication, it’s possible to turn this strategy into a source of additional earnings.
What is a Side Hustle
A side hustle is any additional work or income-generating activity pursued alongside a primary job or source of income. It can take various forms, from freelancing and online businesses to part-time gigs and creative endeavours. Side hustles provide individuals with opportunities to supplement their earnings, pursue passions, or achieve specific financial goals outside of their regular employment. They offer flexibility in terms of scheduling and work arrangements, allowing individuals to balance their professional and personal lives more effectively. In today’s economy, side hustles have become increasingly common, driven by factors like technological advancements and changing attitudes towards work.
While side hustles offer numerous benefits, they also require dedication, time management skills, and a willingness to take on additional responsibilities. Balancing a side hustle with a full-time job and other obligations can be challenging, but with careful planning and perseverance, many people find that the positives outweigh the negatives. Ultimately, whether you’re looking to earn extra income or pursue your passion project, a side hustle can be a valuable tool for achieving your goals and shaping your future.
What is Matched Betting
Matched betting is a strategy used to profit from bookmakers’ free bets and promotions. It involves placing two opposite bets on the same event to cover all possible outcomes. By doing this, you can unlock the value of free bets without risking your own money.
First, you must sign up for a betting exchange. Betting exchanges are sportsbooks where you can place bets. Using these sites, you can also place lay bets, which allow you to bet for a team to ‘not win’. After signing up for a betting exchange, you must find a game with even odds. Then, using both a bookmaker, offering a free bet promotion, and your betting exchange, place a bet on all outcomes. This way, you will unlock the free bet while breaking even or losing only a small amount of money.
Once the free bet has been received, you can repeat this process, using matching betting tools to find the most profitable games and the most efficient stakes. Let’s say you place a £10 bet and free bet on a game with a back and lay bet odds of 2/1, which is highly unlikely. Within this hypothetical, regardless of which team wins or if it is a draw, you will receive a payout of £30 while having spent £10 of your own money, resulting in a £20 profit.
Matched betting relies on careful calculation and precision to ensure profits. While it may seem complex at first, as we have mentioned, many online resources and calculators are available to help you navigate the process.
What Makes a Good Side Hustle
A good side hustle is characterised by several key factors. Firstly, it should align with your skills, interests, and resources, allowing you to use your strengths and passions to generate income. Additionally, a good side hustle offers flexibility in terms of scheduling and workload, enabling you to balance it with your primary employment and adapt to changing circumstances.
Furthermore, a successful side hustle provides a viable income stream with potential for growth and scalability. Whether it’s freelancing, e-commerce, or gig economy work, a good side hustle offers opportunities to increase earnings over time through strategic planning and effort.
Moreover, a good side hustle is sustainable in the long term, with a clear path to profitability and minimal risk. It should be based on sound business principles and ethical practices, ensuring that you can maintain and expand your venture with integrity.
How is Matched Betting a Good Side Hustle
If we are to go off of what makes a good or successful side hustle, as stated in the previous section, then matched betting can definitely be considered a good side hustle. First of all, matched betting allows sports betting fans to make money from their interests and hobbies. Although matched betting removes all aspects of prediction, it still, at its core, allows sports fans to make money from sporting fixtures. On top of this, it is performed entirely online and can take a matter of minutes once you get the hang of it. Furthermore, there are no deadlines other than free bet promotion expiry dates, so you can perform matched betting when it suits you.
Although matched betting lacks the scalability aspect of a good side hustle, the more confident you get at matched betting, the more bets you can place, leading to more consistent profits more often. Finally, matched betting is based on solid principles and fundamentals. It is entirely mathematical calculations, and the market is very stable.