OddsMonkey promises to give you the opportunity make £900 a month from a completely risk-free strategy.
When I first read that, I was immediately skeptical.
Sounded like one of those nasty binary scams.
But little did I know, before I did my research, matched betting is become increasingly popular in recent years as a legitimate way to make money online.
So if you were considering this opportunity or looking for a way to make some extra money online, then take 5 minutes to read my review.
I’ll give you the lowdown on matched betting and OddsMonkey so you can decided for yourself whether OddsMonkey is legit.
What is OddsMonkey?
OddsMonkey is THE original and probably the most comprehensive matched betting resource available on the market today. They provide over 100 tutorials and a whole suite of tools to help you to make money with matched betting.
Sounds too good to be true? That’s what I thought too.
Let’s take a step back and talk about what “Matched Betting” is because I had no idea before I did my research for this post.
What is Matched Betting?
Mаtched bеtting (otherwise known as back bet matching, lay bet matching or double bеtting) is a bеtting technique used by individuals to profit from the free bets and incentives offered by bookmakers.
For example, bookmakers often offer sign up bonuses for new members if they make a few bets on their site.
So what you then do is make a few bets for both sides to win the tennis match.
We know that one side is going to lose. So let’s say you lose £10 per bet which totals £30 for three bets. But making those bets means you have now unlocked a £100 sign on bonus. That results in a £70 profit.
You then rinse & repeat on other sites.
I do note that sign up bonuses aren’t the only kinds of bonuses and sites like OddsMonkey:
- Gather information from various Bookmaker’s sites,
- Determine the best available offers
- Shows them to you and teach you how to ‘take advantage’ of these different kinds of bonuses to make money.
Is Matched Betting Legal?
That was my first thought. Surely, you can’t profit from a system like this.
But yes, it is legal.
And it is completely legal in the UK where OddsMonkey is based and most other countries.
A spokesperson for one of the biggest betting sites, William Hill, stated that the betting industry does not have a problem with the use of free bets.
And why don’t they have an issue with matched betting?
Well because OddsMonkey and matched betting are following each betting sites’ own rules.
There is a risk that some bookmakers might ban you from their site after you have cashed out too much from their site. That is not really an issue as there are hundreds of other betting sites online that you can move on to.
So is this similar to learning how to trade Forex or Binary Options?
Matched betting is focused on the sports market, which is more familiar and more accessible to people than currency exchanges and options trading. Unlike trading in forex markets or binary options, matched betting is 100% risk-free and does not require a significant amount of money to start.
You will also not be exposed to the possibility of huge losses like you do in forex or options trading.
So how do you get started with OddsMonkey?
OddsMonkey has 3 pricing levels.
I would suggest starting with the FREE account as you can make your first £45 immediately with no credits card required.
Being a bit conservative, I love to test systems out for free before forking over any of my hard earned money.
Once you make some money and decide matched betting is for you then you can move onto the most popular plan, which is the monthly membership. This gives you access to all the premium tools with a 30 day 100% money-back guarantee.
You can always upgrade to the yearly membership down the track when you have been convinced that the system really works and you are making consistent money.
It is not uncommon to earn more than £150 (the price of a yearly membership) during the first month. Some beginners can make several hundreds of pounds from unlocking all the welcome bonuses from various betting sites.
What do you get for your OddsMonkey membership?
For your OddsMonkey membership you will get:
- Step-by-step training videos
- Matched Betting software
- OddsMonkey Community
Step-by step training videos and tutorials
OddsMonkey provides you with over 100 tutorials for matched betting. This is designed to step a complete newbie from zero knowledge to being equipped to make a significant amount of money from matched betting.
Matched betting is a pretty simple concept to grasp and people with no previous matched betting or sports knowledge can make their first profits within the first 20 minutes.
Start making profits in 20 minutes here
OddsMonkey Oddsmatcher Tool
This is OddsMonkey’s core tool and it was the original matched betting tool created already back in 2011.
This tool is designed to help you finds, compare and sorts offers on 4 betting exchanges and on over 90 bookmakers.
It is a huge time saver so you don’t have to trawl through over 90 bookmaker sites manually (which would be time-consuming and painful!)
This tool also rates each offer on profitability so you can filter by the most profitable offers. If you have a particular interest in a certain sport, you can also filter specific matches by sport, betting exchange, bookmaker or market.
Daily Offer Calendar
This tool curates a list of the best special offers each day and the details about each offer.
This makes it easy to narrow in on which offers you want to dabble in. The tool also allows you to sorts the offers based on their difficulty (Easy, Average, Hard).
So if you are a beginner, you can choose offers that match you current matched betting knowledge.
You can also set up these notifications to be send directly to your email each day.
This is an advanced tool that shows you the bets that you need to do in order to equalize your profit for all outcomes.
This is a great tool to help you save money by not paying exchange commissions because you can two wagering requirements at once. But this advanced tool should only be used after you have mastered the basic tools and the training.
OddsMoney membership give you access to other members of OddMonkey who are on the same journey as you. Members can help each other out and inspire each other.
I have been a member of the Wealthy Affiliate online business community for almost 2 years now and I absolutely would not be where I am today without the support and encouragement of my community.
What are people saying about OddsMonkey
After having a dig around online, it looks like OddsMonkey is generally rated extremely positive reviews by its users.
Being someone who is constantly on the lookout for great ways to make money online, I am mostly disappointed by what I find. And certainly the reviews from users for other products are not nearly as rosy.
Let’s have a look at OddMonkey’s rating on reviews.co.uk:
A whopping 97% of users recommend this company. That is a pretty impressive rating and isn’t common by far.
And I couldn’t believe how positive the reviews were!
Here are a few:
How Much Can You Earn with OddsMonkey?
If you are new to matched betting, you can earn about £1,500 just from calming all your welcome bonuses by signing up to all the different Bookmakers.
After that it is possible to make about £900 per month. I don’t know about you, but £900 a month goes a long way in our household and matched betting doesn’t require too much time.
And the best bit was that all the earnings from the matched betting are completely tax free.
That means you get to keep the whole £900 which would make your hourly salary from matched betting is much higher than the average hourly salary in the UK.
And across a year, your net income is around the same as with the person who is making £20,000 annual gross income on a regular job!
Once you put in the work and learn the process, the process of matched betting doesn’t take long.
You just rinse and repeat the process.
I note that the £900 per month of average earnings OddsMonkey’s users report on their community forums is much better than on a competing site called Profit Squirrel, where people make usually £500 per month.
This is probably because OddsMonkey more tools and resources than Profit Squirrel. Many experts and authorities in the matched betting industry claim that OddsMonkey is the best tool for people who want to make money with matched betting.
Is OddsMonkey worth it?
The cost of the membership will pay itself back very quickly with typical earnings of £900 per month.
If you are in this for the long haul, you will only get better and better and can make more and more each month.
While you aren’t going to become a millionaire from matched betting, you can definitely make a decent monthly income from this opportunity.
Have you used OddsMoneky or other matched betting services?
How did you find them? How much money did you make?
Let us know in the comments below!
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