So it took me about 3 months to earn the first £1000, during which time I didn’t spend any of my earnings, and then I tried to keep around £1000 as my pot and let myself keep anything above at the end of the month. On average I tried to keep around £700 in the main exchange I used, and around £300 for betting, which I would withdraw and shuffle around as needed.

This pot was enough to earn around £300 a month, just doing an hour or so a few times a week. If I wanted to hit it harder and earn more each month I think I would have needed a bigger pot for that.

It’s a balancing act between how fast you need the money (ie if you can be patient while you build up a pot!) and how much you want to make in the long run. I am just getting back in matched betting again myself after a break, and am aiming for the same £1000 pot before I start withdrawing, but then it’s just a side hustle for me and not a major source of income. It should def be possible to earn 5k in a year or so but I would say you should try to do a bit every day and maybe keep it all in the pot so you don’t have to limit the amount of bets you can do. This will be especially useful during key events like the horse racing festivals! Good luck 🙂

Hi Louise, with wagering you simply have to keep placing new matched bets (placing back and lay bets using the calculator) until you’ve either got all your money into the exchange or you’ve fulfilled the wagering requirements and can withdraw your money from the bookie. It’s a bit more time consuming, and you will lose a few pennies in commission with each wager, but overall you still make a profit. I would recommend leaving these sites with wagering requirements until after you’ve had plenty of practise on other sites and got quicker at everything.

Hi James,

I think you will probably be fine. Most mortgage providers only want to see your main account statements, and this was the case for us when we got our mortgage a few months ago. But one of my friends was asked to show statements from every account in their name, hence why I was so cautious! I think this is fairly rare but at the end of the day it’s up to you whether you want to take that small risk or not. If you are worried, the safest thing to do would be to put the matched betting on hold until you’ve secured your new mortgage. Good luck!

Great read. I am about to start my MB journey and also in the middle of remortgaging. I have a main account with one bank and I use Monzo for my spending account.

Do you think it will be okay to do this on my Monzo account? From what I remember, I only need to provide my main account statements to the mortgage adviser at the time. But I am not sure If things have changed!

I am assuming if you can get away with it on PayPal, that it is the same with Monzo (although it is a bank account)

Can you shed any light on this?

Kind regards,

James

Hi Shana, I’m afraid I can’t comment on that. I only have experience with matched betting in the UK and the matched betting help service I use is only open to residents of the UK and Ireland. It’s possible there is something similar where you live but it would depend on things like gambling laws and the rules of the individual betting sites in your country, so I can’t advise, sorry!

Oh no! I’ve definitely used them with PayPal before but I guess they have changed the rules! No worries, once you get the hang of matched betting you will make that back quickly. I also made some small mistakes in the beginning but £1000s in profit over all. Good luck!