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How Much can you Make From Matched Betting?

Written by Richard Thwaite

Matched Betting May Update

May has been a quiet month for me with regards to matched betting. I have been busy at work with overseas business trips and also a holiday which means I only spent 14 out of 31 days at the screens, yet I have far exceeded the profit I made in April.  Read on to find out how it went.

The screenshot below shows the offers screen in the excellent Profit Accumulator site that I am using to help guide me through the matched betting maze. At the time of writing there are 15 beginners’ offers, of which I have completed 12. I have purposely not done the 3 remaining ones as they require a large stake in my exchange accounts that I don’t have at present.

In the advanced offers there are currently 34 of which I have completed 14. The casino and bingo offers have been left untouched so far. I have placed a number of reload bets as and when they have come up.

profit accumulator

I made a decision not to deposit any of my own money into any of my accounts during May – instead I’m using my profits to grow the accounts. This has been largely successful although I came a little unstuck towards the end of the month when several of my lay bets at odds between 6 and 12 all won and depleted my Smarkets and Betfair accounts. The winnings now in my bookies accounts took 2-3 days to transfer out so I that limited my betting during this time.

This quiet period gave me the opportunity to look a little closer at the reload offers and create a new tracking spreadsheet. Once my betting exchanges had been replenished I took advantage of a handful of the simpler reload offers and made some nice profits on them. They are a lot more work for the rewards on offer but still profit is profit. I took William Hill up on their Euro16 offer by backing England to win the whole competition. I placed a £10 bet and layed it off so I will make a 26p loss either way. However, I will get a free £5 bet every time England wins. Betting on England to win a game of football in a major tournament is asking a lot, however surely they can muster at least one win which will see me into profit.

How do I keep track of my bets?

Keeping track of all my bets was starting to become a handful. I searched the internet and on the Profit Accumulators forum for a good spreadsheet that would satisfy my requirements. My search was in vain so I took the good bits from the various spreadsheets that I had amassed and created my own.

It is still very much a work in progress but thought I would give you an insight to how it works here and see if anyone has any ideas for improving it and if there is any interest I will share it.

Sheet 1: The bank

The first sheet is the bank and tracks all transactions in and out of each account. This is a simple manual process of inputting the date, account and whether it is a deposit or withdrawal. The balance is a simple total generated by a simple autosum formula.

Sheet2: Log sheet

The next element is the log sheet where details of each bet are recorded. This is the hub of the whole spreadsheet and where all the profit data is pulled from. Here I record all important aspects of the bet including dates, the event itself, what the bet is for, who the bookie is etc. The sheet calculates the risk, potential return and the bet profit. I have added an “Actual Profit” column where I can manually enter the profit as I have found on a few occasions that the calculated profits are a penny or two out. I contacted Smarkets about this and they told me that their odds are only shown to two decimal places and this is the reason for this small discrepancy.

Sheet 3: Monthly profit summary

One of the key elements that I wanted to see was an overview of my monthly profits that would automatically update with no input from myself. The table below is my current incarnation and actually shows my real profits. The profits in March are from the last week only as that is when I started.

Sheet 3: Daily profit summary

The next element that I wanted was an overview of the daily profit summary. The image below shows an auto updating screenshot for each day of the month. This is my favourite part of the spreadsheet as it shows me how I am progressing daily.

Sheet 3: Account summary

The account summary is an auto populating sheet that shows the account balance and profit/loss for each account as well as the overall totals for my matched betting adventures.

As you can see in total I have put £525 into my accounts and made £823.54 profit. I haven’t monitored my screen time during May so don’t know what my hourly rate is, however £552.07 is a nice profit and I am determined June will be my best yet as I more time to spend on it.

There are a further two sheets to the spreadsheet. One that that tracks the bets that I have signed up to and any time limits or special conditions that have to be met. I then colour code them as I progress through them. The second sheet is to keep a record of my sign up details to each account.

Is it still worth doing?

After my first month of doing Matched Betting the answer was a resounding “YES”. After my second month I am even more convinced. Not only is it a very easy way to make money, I also find it very enjoyable. As always, I would urge you to do our research and bet responsibly. If you have any questions, please get in touch.

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Leave a Comment

12 Comments

  • Hi Richard,
    Interesting update – thanks for sharing. My own experience with matched betting so far is also positive – having started slowly in March and April I spent more time on it in May – and it was well worth it!

    As for the future: I do intend to spending time each rest day doing it – roughly half the month. And hope to have even better months than May has shown to be.

    As to the tracker file…

    Log sheet
    I also put down which level / category of offer it was (Beginner, Advanced, Reload…) – I find this makes it easier for me to either get back to the offer on the PA site or to go to the correct part of the forum straight away.

    Profit summaries
    I’m a bit more OCD about it so it would seem as I track it this way:

    Monthly – in 4 columns from left to right: Month, Total Stake £, Total Return £, Total Profit £, Total Profit %
    Total Stake and Total Return use SUM function in Excel
    Total Profit £ = Total Return – Total Stake
    Total Profit % – I find encouraging to see if I can get over 100% (not in March and April but did so in May)

    Quarterly, Half-Yearly and Annually – all of these pull the data from the Monthly section. Creating the lookups takes abit of time in the very beginning but afterwards no time in maintianing them and can be easily copied for future years.

    I find it interesting to see trends but for someone only ever interested in how it goes each month this is not necessary.

    One thing I don’t monitor is my screen time and its £ value as I do spend quite a lot of time just reading about matched betting which in turn will hopefully improve how I do things and may minimise the mistakes I make.

    Regards, Pinch

    • Hello Pinch

      Glad matched betting is working out for you as well. Getting over 100% total profit for May is an excellent result.

      I will look at adding some of your suggestions in to my spread sheet.

      Thanks

      Richard

  • Hi Richard

    That’s a great amount you’ve made – more than what I made and I had a full month to play with! I was experimenting with accumulators and had some losses which ate into my profits – I know what (and what not) to do now.

    I’ve still got some sign up offers to do but like you, I’ve avoided the casino and bingo offers (I’ve done one casino one actually). Guy seems to be able to make a lot of money from them – I’m sure I’ll get round to being comfortable at doing them at some point.

    Your spreadsheets are pretty much like the ones I maintain – except that I don’t have a daily or account summary and my log sheet has less columns! My profits are always manually entered to take into account of the odd pennies.

    I did work out my time vs profit this month but to be honest, I’m not really that bothered about it, because like you, I find matched betting enjoyable!

    All the best and may you qualifying losses be low! 😉

  • Hi Richard,

    Thanks for another interesting post on Matched Betting. I’m just starting to have a dabble myself…I’m in the middle of the second introductory bet on the Profit Accumulator site. I somehow managed to make a mistake on my very first bet…I placed the wrong amount on my lay bet as I got confused when using the calculator! Hopefully I’ll be able to learn from that and not make the same mistake again…luckily the game went in my favour so I didn’t actually lose out financially.

    I have started my own spreadsheet for tracking, but it’s not very good yet. I would be very interested in getting a copy of your template if you do decide to share it at some point… 🙂

    OR

      • Hi Richard,
        I enjoyed reading your article as I am new to matched betting. I am terrible at spreadsheets and excel and was wondering if you would mind sharing your spreadsheet with me. I’ve already done one month with no form of spreadsheet and its all a bit of a mess.
        Thank you and good luck
        Hayley

  • Hi Richard,

    Very informative for a newbie like me. Really enjoying the mental element of it all too!

    Just a quick question ……. would your spreadsheet be available for download anywhere as it seems to be exactly what I’m trying to recreate myself, but a lot less hassle if I can get a copy!

    Thank you and keep up the blogs. Great stuff indeed!

  • Hi Richard,

    Really helpful article! Have started to give this a go and it works out really well. And good idea to log all your incomings and outgoings. Would you be able to share your spreadsheet? It seems really neat!

    Thanks, B

  • I am new to matched betting and i think your spreadsheet is amazing, are you able to make it so it can be downloaded?

    Lily