Four months into my matched betting journey and this month’s profit is £437. It’s been bit of a quieter month this time round. After doing well with accumulators last month I’ve had a couple that haven’t come through and I lost a few quid.
I’ve also continued to work through a few sign up offers which has boosted profits nicely. Overall still a decent profit given the limited amount of time I’ve spent matched betting.
March’s breakdown is as follows –
- Sign up offers – £240
- Bonus offers or “reloads” – £90
- Accumulators – £60
- Horse Racing Each Way matches – £55
- Mug Bets – –£8
I wanted to briefly mention “mug betting” as this is often a term that comes up in matched betting. These are regular bets where you’re placing back bets at the bookie but you’re not taking advantage of a bonus or reload offer. You still place the opposing LAY bet at Betfair but you’d typically make a small loss of a few pence on each bet.
The idea behind mug betting is that you appear to the bookie as a regular punter and not a matched bettor. As a result you are hopefully less likely to have your bookie account banned or “gubbed”. Avoiding being gubbed seems to be a bit of black art. How many mug bets are needed? Are the bookies looking for particular behaviour?
This month I’ve placed 20 mug bets across 3 -4 of my most used bookies. This has cost me £8 in profit but hopefully should allow me to continue flying under the radar.
My overall profit since starting matched betting in December 2016 is £2,352.
You can see my previous matched betting income reports below –
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