We have had a lot of people message us saying they want to start matched betting, but their problem is finding the initial cash float (bankroll) of £80-£100 to get up and running.
It is actually a problem that is quite easily solved – if you really want to solve it, make changes in your life and start making money that is.
How can you go about raising the £80 cash float to start matched betting?
£80 is the minimum cash float (bank-roll) you need to start matched betting with. Although for some this is simple to find, for others (such as ourselves 2 years ago) it's not always easy to find.
Let’s look at some options for raising this £80 below:
Option 1: Borrow the money from a family member or close friend.
The beauty of borrowing money to start matched betting is that it is NEVER tied up in anything and you can pay that person back whenever they need it (e.g. even if they have an emergency for example and quickly needed the money back). Additionally it’s the quickest way to raise the starting cash float in comparison to some of the other options we mention below.
With matched betting the money is always just sitting in your own person bookmaker and exchange accounts – and you can withdraw it at ANY time back into your own bank account. As soon as it comes into your bank account you can then immediately give the money back to the person who lent it to you. It is that simple and something that a lot of people overlook.
Let me clarify this in a bit more detail. If you borrowed money from a family member to set up a new business for example, that money is pretty much tied in until the business is healthy enough to repay the person who lent you the money. How long this takes is anyone’s guess.
Similarly, if you borrowed money to pay for something (e.g. an unexpected fine or bill) you would have to wait until at least your next pay day (and perhaps even the next one or two) before you were able to pay that money back. Plus you’d probably have to ‘tighten your belt’ a bit whilst you earned that money to be sure of being able to pay it back at the end of the month after paying for your normal expenditures. Additionally if the person you borrowed the money from suddenly needed the money back as urgently as possible – you would have a major problem and it would be horribly stressful and you’d probably then have to go find another person to borrow the money off to give to the first person. What a lot of stress and hassle!
With matched betting though, by the end of doing your very first offer at Coral you will have already made £14+ profit ON TOP of your initial £80 cash float, and not risked losing any of this £80 cash float at all either. If the person you borrowed the money from to start then had an emergency – you would just withdraw from Coral and Smarkets (the betting exchange) and return their £80. You would still have £14+ in your pocket after returning it.
By the end of our entire beginner matched betting guide you will have made £165 in profit (and very likely a good bit more!) on top of your £80 starting cash float. During all these beginner matched betting offers you still will not have risked losing any of the £80 starting cash float AND still have been able to withdraw the £80 and return it to the person at ANY time.
It can take anywhere between 1 month to 2 months to complete our beginner matched betting offers with a starting cash float of £80. The time needed is mainly dependent on how much time you can spare each week to do matched betting (so it’s hard for us to give an exact time span). We ourselves started our matched betting journey with just £100 and within a couple of months had over £800 in profits (we were working full-time so could only spare a few hours a week to do matched betting).
On completing our free matched betting guide you can easily return the £80 you borrowed (plus a tenna or a small gift as a thank you if you wanted!) and then use the £165+ profits you’ve made as your new matched betting cash float. You can then continue making more and more profits by matched betting the on-going daily reload offers as well as the next set of new customer sign up offers.
If you are thinking to borrow the money from someone, we would always recommend being honest and explaining to them what you will be using it for. Also explain that you can return the money quickly to them if they suddenly need it back urgently. If they get sceptical about lending the money because they see it is something to do with “betting”, our advice is to;
1) show them the articles from Guardian and Telegraph articles, which both clearly state how this is nothing to do with gambling;
2) ask them to watch our an introduction to matched betting video so they can see how it works for themselves and see that the money will be sitting in bookmaker and exchange accounts and can be easily withdrew; and
3) tell them you will happily send them a copy of your matched betting excel tracker as you go – then they can see you literally making money and see their money making you money!
Option 2: Look into switching bank accounts
Some banks in the UK pay a cash incentive for switching. It’s definitely an option to look into but be sure to check the details of the accounts before you switch. It’s a bit of a faff but if it can help you get that £80 starting cash float for matched betting we would say it is really worth doing.
To be extra savy whilst you were switching you could even open a second basic account with the new bank specifically for the purpose of matched betting. Then you can be super organized and keep matched betting deposits and withdrawals separate from your normal incomings and outgoings. (We didn’t bother doing this ourselves but we appreciate some people may prefer to do this).
You can read more about these type of bank switching incentive offers in this Telegraph article here.
Option 3: Flog some stuff
From books, through to DVDs/CDs and even furniture, look around your place and see if there’s some stuff you can get rid of to raise the £80. Again – it’s a little bit of a faff and involves some of your time. Get on E-bay, get on Amazon market place, go to WeBuyBooks and similar places and sell, sell, sell.
Option 4: Do some over-time or grab a temporary extra job for a week or so.
Can you pick up some extra hours for a week or so at work? We know – it’s tiring. It’s just to make an extra £80 though – then you’re done. Be strict with yourself. Earn the £80-£100 then stop and put it immediately into matched betting.
Alternatively can you grab some quick temporary work on the side to make the £80. It might be a few hours at a shop or something on a Saturday for a month or so or you could just look for a few odds jobs in your area (mowing people’s lawns, walking dogs, cleaning cars – you know the score!).
Option 5: The above options not your thing?
Then head over to Money Saving Expert’s – ways to boost your income.
There will be something on there that suits you!
A final note on finding the £80 cash float to start matched betting.
Listen, seriously now. £80 is NOT a large amount to borrow or make somehow.
This £80 is going to change things for you. It did for us and we are now helping others do it too.
Matched betting truly is the best way of earning extra money on the side – regularly and for so little effort compared to any other side income method.
We want to help you – but we can’t help you unless you have this £80 for your betting exchange account and first deposit into Coral. Find the £80 – book your free lessons with us – then start stepping into financial freedom.