This article contains an affiliate link to BonusMoney for those who want to sign up for free, or use code “CaptainFI” for 25% off pro
“A bonus bet is essentially a free bet. When you use a free bet your account balance remains the same. It is like having extra credit in your account. You game the system by using your free bets to bet on both outcomes and then walk away with most of the cash”BonusMoney
BonusMoney are one of the worlds leading providers of Matched Betting education and training content. Since I discovered Matched betting and the profits that can be made with this lucrative little side hustle, I have been slowly uncovering more and more hidden gems online. I stumbled across the BonusMoney repository and found them to be full of insightful and well thought out how-to guides, as well as useful tools and calculators. I created an account with them and have started a subscription to learn more about how this savvy community of matched betters are able to generate thousands of dollars in side hustle income each month by beating the bookies!
Matched betting review – How Does matched betting work?
Matched betting works to extract bonus bets or sign up offers that Bookies offer to new clients and repeat customers.
Bookmakers offer promotions to encourage you to join their site. This ‘Signup bonus’ is usually in the form of a free bonus bet when you register and make your first deposit. Bookmakers also regularly offer their existing customers promotions where it is possible to gain additional bonus bets or cash back.BonusMoney
Often due to increasingly tightening regulations, Bookies aren’t allowed to directly offer sign up bonuses, but once you have created an account they will offer you bonus bets sometimes worth up to $1000! Whilst your not going to make millions of dollars matched betting, you certainly have a very good chance at making a couple of thousand dollars a month using this lucrative side hustle which could earn you as much as $50 per hour when done effectively.
The first step to matched betting is to understand how it works by reading as many user guides as possible – this is where bonusmoney are great since they are provide a heap of free content.
The second step is to work out which Bookies are going to provide the most lucrative sign up bonuses – for a list of Bookies you can use here check out this cheat sheet created by bonusmoney;
New legislation means that bookmakers are no longer allowed to entice customers with sign up bonuses. However many bookmakers still offer a deposit bonus after registering with them. To find out what people recently received when registering with a bookmaker head to the matched betting community of Australia head HEREBonusMoney
The third step is to create an account with these bookies, and deposit your initial capital. You can start with as little as a hundred bucks but the more capital you start with the higher hourly rate you will make out of this side hustle. Expect to get a flood of email marketing as soon as you create your account and deposit money, as the Bookies want to encourage you to start placing bonus bets ASAP.
The fourth step is to get onto a matched betting calculator, this will let you know exactly how much you should bet and where. The proportions of the back bet stake (usually the whole bonus amount), back odds, lay odds and lay commission will all be used to calculate how much you should lay, and calculate your profits.
The fifth step is actually placing a bet – the first bet you will need to place is the back bet (or main bet) on your bookie, using your bonus bet offer.
The sixth step is placing your lay bet – your ‘hedge’ or ‘dutch’ against your back (or main) bet. By using a third party such as Betfair (an online betting exchange) to place lay bets against your back bet, you can effectively game the system to allow you to walk away with almost all of that bonus offer, almost risk free!
The final step is of course after the event to finalise your transactions – you will win and lose one of each of your bets, pay your transaction fees and then be able to extract your winnings. The extraction rate varies depending on the numbers used and how good you are at matched betting, but its pretty reasonable to assume you will be able to extract at least 75% of the offered bonuses – not a bad little side hustle considering Bookies regularly offer bonus bets of $200, $500 or even $1000!
Be aware though that it can be a bit of a tangled web, and the bookies will eventually catch on if your doing matched betting and will either slowly stop giving you bonus bets or they might even ban your account all together! Further, some of the most lucrative bonus bets on offer will come with pretty complicated terms and conditions, and might be beyond the scope of a beginner matched better – but this is exactly what the bonusmoney online community and forum is for
BonusMoney matched betting advantages
BonusMoney is a provider of Matched Betting educational and training material, matched betting tools and calculators, and host of an online matched betting community. I actually spoke to the team behind BonusMoney and grilled them for a couple of hours as I tried to wrap my head around both;
- How to successfully do matched betting myself and;
- Understand their business model.
It turns out both founders of BonusMoney seem to be living quite a relaxed ‘FIRE’ style lifestyle – perhaps they were inspired by Tim Feriss’ 4 hour workweek or Denise Duffield-Thomas’ Chillpreneur! Having an understandable disdain for the bookies, The Aussie/UK duo spend their days pretty much doing whatever they want and then placing fairly casual matched bets throughout the week – with a ‘Rainman’ like understanding of how matched betting works, these two are pretty much as close as you can get to retired for millennial’s.
Seeking to share all of their insider tips and knowledge on how the game works, they created BonusMoney as a way to host all of their guides and calculators. They continue to grow their site and now have hundreds of pages and articles that are freely available on the topic of matched betting and helping you make your first matched betting profit. BonusMoney features include;
- Matcha matched betting program (free downloadable)
- The Odds Matcher meta tool
- Matchfinder tool
- Bet Finder tool
- Over 10 unique matched betting calculators
- Dozens of matched betting guides and free articles
- Matched Betting Australia online forum
Lots of this content can even be accessed with no account or login whatsoever, but some of it will require you to sign up for their free account – and of course and some is only available with a BonusMoney pro subscription. You can make money without the BonusMoney Pro subscription without any issues.
I have used their matched betting calculator to calculate the ratios that I should be placing my back (main) bet and my lay (opposite) bet and estimate how much I can walk away with. For example, the Bonusmoney calculator below showed me exactly how I should structure my qualifier (initial bet) and then my bonus bets with the bookies.
After making your qualifying bet and activating your account, you are then free to make your Bonus bets and begin your matched betting side hustle
Matched betting with BonusMoney Pro
BonusMoney provide a premium subscription service for those that want to delve a little deeper into Matched Betting. Their Pro subscription (what I currently use as I learn more about the matched betting side hustle) currently costs $49 per month and unlocks all access to their site.
BonusMoney currently advertise that you get the following list with a pro subscription;
- Hundreds of BonusMoney Pro Forum posts
- Access to the Bonus Money Pro private Facebook group
- Dedicated personal assistance for every bet
- Advice to get the largest sign-up bonuses
- Get every available bonus through access to detailed calendars
- Make betting easy with advanced guides and tools
- Take advantage with our Matcha horse racing software
- Maximize your profits with our odds matcher
- Advanced dutching calculator with live odds for all AFL, NBA, NFL and NRL games
- Access to the most knowledgeable betting community in Australia
I have found that with my BonusMoney Pro subscription that I have got the most value from getting professional mentoring and coaching from the BonusMoney matched betting community, however I am looking forward to exploring some of their software
Summary of BonusMoney
BonusMoney is a great, honest business that helps you get started making more out of matched betting. I have found their detailed user guides pretty helpful especially since I have only just gotten started out and this has certainly allowed me to wrap my head around it faster. I will add matched betting to my list of side hustle income streams, and look forward to reporting on how much I am able to make over my monthly NW updates. If you are interested in checking out BonusMoney, head over to the site where you can sign up for free – if you use the coupon bonus code “CAPTAINFI” you can score yourself 25% off of a BonusMoney Pro membership should you ever decide you would like the professional features.