Turning a profit: Euros bring easy money

As the Euros come to a close, it’s time for me to review how things have been going. With a matched bet here and there, I’ve been making my way through Online Betting School’s list of bookmakers to get free bets and make a profit. In total I made nearly £50 after using four bookmakers – just imagine what you could be making after using the whole list! The simplicity of matched betting combined with its potential is absolutely fantastic – after all who couldn’t use an extra bit of money on the side.

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I started off this round of matched betting with William Hill, placing my first bets on the Wales vs Northern Ireland game. With the odds for each outcome being pretty close, I played around with the betting calculator to view my options. If I had placed my bet with the bookmaker on Northern Ireland, I would have had to fork out £45.97, but betting on Wales I only had to bet £21.73 in total. Placing the bet on the outcome with the lowest odds will usually mean you have to dish out the least amount of money but you have to be careful it doesn’t dip below 2.0 otherwise you may not qualify for a free bet. Online Betting School’s list of bookmakers will tell you the minimum odds for each one so you don’t need to worry. I won back £20.50, meaning I lost £1.23 but was ready to make a profit with my free bet.

I decided to bet on the England vs Iceland game, where the odds weighed heavily in favour of an England win. It just goes to show that the bookmakers don’t always get it right! I put in £38.56 of my own money, and won £50 back, meaning that with my free bet I was set to make £11.44 in profit. By some miracle Iceland won and I got my money back through Smarkets. With the betting exchange previously I was trying to withdraw my money every time my bets came through. The thing is it takes several days for the money to appear in your account and so you’ll probably be wanting to move on to betting on the next game before you have got your money back. What I have learned by placing several matched bets in a row is that when the money comes through with your betting exchange, there’s absolutely no point withdrawing the money until you’re finished. It’s better to think of that money as invested and ready to grow separately from your ‘everyday money’, rather than to withdraw your winnings after every game.

The next bookmaker I used was Paddy Power who were offering three £10 for a single £10 deposit. My initial bet went on the Poland vs Portugal game. Again as we were in the later stages of the Euros the odds were pretty close with 4.1 for Poland (meaning if you bet £1, you’ll get £4.10 back), 3.0 for the draw and 2.20 for Portugal. Unsurprisingly, Portugal won and I got £22 back from my £22.76 worth of bets. I then used my bet on the Germany vs Italy game, making a £15.27 profit. After Paddy Power I moved on to Betfair with whom I made a profit of £15.13, then with Stan James I made a profit of £11.35.

While it may sound obvious, what I realised in the last few rounds of betting was that the sooner the match is when you bet on it, the sooner you’ll make a profit. You can’t choose when a match will take place and certainly towards the end of the Euros the games were spread further apart. I found it much better to wait until the day the match took place to place my bets – that way when I was spending my own money I wouldn’t have long to wait until that money was back in my account again if I needed it. Another little tip I found useful is that it’s good to keep a list of bookmakers you’ve used and what you’ve bet on. This way you know where you’re expecting to get your money from, and you won’t forget to withdraw it!

Since my last blog I have made £49.16 in profit (including acceptable losses from initial bets). Over four bookmakers this averages at £12.29 from each! Online Betting School has multiple lists of bookmakers – just imagine the profit you could be making! I myself will be continuing with matched betting, and at a much higher frequency, hopefully making a bigger profit in a shorter amount of time.

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