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Aug 06

5 reasons why people don’t try matched betting

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James Hardy
James Hardy

Well, either the bookmaker or the betting exchange depending on the outcome of your bet. However, both entities have exactly the same chance of winning or losing on an ordinary punter’s bet as they do on a matched bettors bet – the only difference being is the matched bettor doesn’t care where the bet wins because all outcomes are covered by backing and laying 🙂

By the way, if that really is your name, your parents are awesome!

Jack reacher
Jack reacher

The first question to ask is who is most probably going to be losing for you to make the money,

Trying new things can be scary, especially when it involves words like ‘betting’ and ‘bookmakers’.

So, you really are not alone in having reservations about trying matched betting. All of the below reasons are from current members of Heads&Heads (a matched betting service). We’ve tried to answer these worries as concisely as possible using input from the very individuals who originally provided the reasons.

Take a look, some of these may apply to you and we’re hoping that the answers will help give you the confidence to join the thousands making up to £1,500 per month – tax free.

 

1. Not knowing where to start with matched betting

This is something that everyone is worried about when starting out. You won’t know how to gain access to the offers, how to keep track of your money, or how the process works in general. However, if you can take the initial leap of signing up to a matched betting service like Heads&Heads then all of the above is taken care of for you. Not only that but there is a step by step guide and videos for every aspect of matched betting. So, the wealth of resources available will reduce the sense of feeling slightly overwhelmed a lot quicker than you might expect.

Contrary to popular belief, you do not need to be good at maths to do matched betting. All of the calculations are done for you. Additionally, you do not need to have gambled previously (remember, this isn’t gambling!) or even have an interest in or knowledge of sport. The majority of Heads&Heads members have absolutely no interest in sports, they only care about making a profit.

 

2. Thinking if something sounds too good to be true it probably is

I’m usually a firm believer in this phrase. This initial reasoning applies to more Heads&Heads members than you may think, many of whom avoided matched betting for a long time because when they heard people talking about making £500-£1,500 a month it all seemed a bit unrealistic.

The way many got around this mentality was saying to themselves ‘if I make 20% of that, I’ll be happy’. Plus, the 30-day money back guarantee from Heads&Heads is a great back up! Combining that mentality with the security of knowing they could get their money back is what led to a lot of people joining Heads&Heads.

 

3. Being worried about tax or mortgage implications

tax

This crops up a lot. The idea that either of these become an issue when doing matched betting is a total myth.

Let’s look at tax first as it is the easiest to answer. For those worried about declaring any income from matched betting, this is not something that needs to concern you. Any money made from gambling websites is currently tax-free in the UK.

Now for the mortgage question, namely ‘will matched betting affect my ability to secure a mortgage?’ In a word – no. Having talked to mortgage lenders about this issue, they confirmed that all they are looking at is risk. The only risk associated with gambling sites appearing on your statements is ‘does he or she have a gambling problem that puts them at financial risk?’ Signing up to bookmakers and depositing the small amounts required to do their welcome offers is no indication of a problem gambler and as such is ignored. What lenders are looking for is an individual who is miles into their overdraft but continuing to dump more and more money into a bookmaker. That for them is a red flag, and this is not something any matched bettor will be doing.

It’s important to note that with matched betting your profits snowball within your bookmaker and exchange accounts. This means that after a few initial deposits from your current account, any future activity on your bank statement will simply be you moving money back and forth between exchange and bookmaker. Once again, not a red flag for lenders.

Last but not least, it does not affect your credit rating either. The owner of Heads&Heads has been matched betting for nearly 7 years, and his credit rating did not change (this fact pre-dates him setting up Heads&Heads).

For more information on this you can check out the Heads&Heads blog.

 

4. Lacking the confidence to get started

Hearing people talking about matched betting can bring about a lack of confidence. It can feel like everyone else is already matched betting and doing great at it. However, like most things, once you actually take the small leap and make a start you will feel proud and be surprised how much simpler it is than you thought. Most H&H members remember sitting there, for a few hours, watching and reading the guides over and over again before finally placing the first bet.

There is no harm in taking your time, so long as you give it a go!

 

5. Finding the jargon confusing

There is a lot of jargon surrounding matched betting and you will find most of it very confusing in the initial stages. However, there is a learning curve with everything and by the time you’ve completed the first few offers you’ll surprise yourself with how much you already know.

Words like lay, exchange and gubbed will throw you at first. However, most can confidently say it only took another week or two before they really understood what all the jargon meant.

As with the previous point, the quicker you start the quicker these issues evaporate.

 

Want to give matched betting a try?

It’s just about possible to go it alone, completing matched betting offers, or you can spend a small amount of money each month and join a website where you can see the offers at a glance. You can get access to 100s of offers and even speak to a real person on live chat. Heads&Heads is one such place.

The man behind Heads&Heads has been matched betting for 7 years and is therefore incredibly knowledgeable. Heads&Heads have fantastic customer service and 70% of their premium members are long-term ones, showing how people value their service.

It costs £14.99 a month or £150 per year to become a Premium member. Both of these options come with a 30-day money back guarantee AND no minimum contract. For this price you get access to all of the Heads&Heads matched betting tools, including; their oddsmatching software, personalised user dashboard, matched betting calculators, access to the Heads&Heads forum, LiveChat customer service, around 150 various offers (complete with video guides) and new reload offers added every single day.

Fancy giving matched betting a try? Well, currently, MoneyMagpie have an exclusive discount to get you started!

Using discount code MAGPIE5 will provide you with your first months matched betting service for just £5. Even better, if you want to sign up for a year you can do so for just £100!

In this day and age there should be no reason not to be looking at options which boost your income. So try matched betting with Heads&Heads today!

WHAT DO YOU THINK?

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James Hardy
James Hardy

Well, either the bookmaker or the betting exchange depending on the outcome of your bet. However, both entities have exactly the same chance of winning or losing on an ordinary punter’s bet as they do on a matched bettors bet – the only difference being is the matched bettor doesn’t care where the bet wins because all outcomes are covered by backing and laying 🙂

By the way, if that really is your name, your parents are awesome!

Jack reacher
Jack reacher

The first question to ask is who is most probably going to be losing for you to make the money,

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