So you have just found out about matched betting, been reading over a few of the guides and articles and decided you would like to jump in.
So your first question is probably, how much money is needed to start matched betting??
This is a question everyone asks when they first discover matched betting.
There really is not a definitive answer as you could realistically start with a smaller bank and take your time on one offer, or start with a big bank and smash multiple offers together.
This article will try break down what you need to get started in terms of money, and will use a practical example to show you how having a bigger bank can result in bigger profits.
At the end of the day you will need a substantial amount to start with. If done correctly, there is no risk of you losing your money at all. So that should not of concern to you.
So let’s break it down in two scenarios.
Having a $400 bank vs having a $1200 bank.
For purposes of this article’s example I will be using BetEasy signup offers.
Starting With $400 (Smaller Bank)
Let’s use BetEasy’s small signup offer. One of their current offers is as follows:
Our starting bank is $400. We signup with BetEasy and deposit $50 to immediately receive a bonus bet of $150.
Remember we have deposited the $50 already, so we have $350. We place the bonus bet of $150 at higher odds. Lets assume we get a perfect match at odds of 4. Check out the calculator screenshot below.
We would need $341.77 in our Betfair account to do this offer. We had $350 left after the initial deposit, so that’s almost all our remaining cash. You now see why it helps having a bigger bank? We go ahead and place our bonus bet and we make $108.23 profit.
Before withdrawing we still need to place our initial qualifying bet of $50 at normal mode.
So from a starting bank of $400 we were able to complete this offer, and our profit after qualifying losses would be upward of $100.
Starting With $1200 (Larger Bank)
BetEasy have a larger signup offer as well, as seen below:
Our starting bank is $1200. We signup with BetEasy and need to deposit and bet through $300 in order to receive a $300 bonus bet. So this offer is slightly different to the one before.
With a $1200 we can easily do this offer, and you will see why.
Remember we have deposited the $300 already, so we have $900 remaining.
We need to place our qualifying bet of $300 at minimum odds of 1.50 in order to receive our bonus bet of $300.
So for our initial qualifying bet we would need $155.17 in our Betfair account. We go and deposit that amount, leaving us with about $750 in cash.
We place the bet and wait for it to settle.
Now we place our bonus bet at higher odds. Like before, we will use odds of 4 for this example.
We need at least $683.54 in our Betfair account to complete this bet. We still have $750 in cash, so we use this and deposit the cash into Betfair.
Once this bet settles, we are left with $216.46 profit, and can deduct the initial qualifying loss to determine our total profit.
So with a larger bank, we made more than double our profit from the same bookie as we were able to take on a larger offer. A larger bank also becomes extremely helpful when we need to wager through winnings, and our money is tied up at the bookie due to back bets winning.
As you can see, starting off with a larger bank is definitely worth it. Instead of starting right away with limited funds, save up a few extra hundred dollars for a few week then get cracking.
Signup offers will always be there, so there is no rush.
Don’t forget to sign up to Matched Betting Australia for free before getting started!