Matched betting is a great way of making some extra cash, but you’ll need to have some starting funds that you can put to work and grow. Don’t worry, it’s all completely risk-free if you follow the steps carefully.
You’ll often hear people refer to their funds as their ‘bankroll’ or ‘float’. This is simply the total amount of money you have available to place bets and take advantage of offers.
You can start matched betting with as little as £50, though I would recommend that you start with more if possible.
What is an ideal starting bankroll?
£300 to £500 is an ideal amount to start matched betting with. Let me explain why.
When you use free bets, most of your bankroll will be used to match your bets at the betting exchange. That’s because free bets need to be placed at high odds in order to maximise your profit. So, the larger your bankroll, the more profit you’ll be able to make.
Also, the larger your bankroll, the easier it is to move your money around. If you start with a small amount and your bookmaker bet loses and your exchange bet wins, you’ll end up with most of your bankroll in your exchange account. You’ll then need to withdraw some of it before you can do your next offer, which can slow things down a little.
Whilst you learn the matched betting ropes, it’s always best to tackle one offer at a time. As you get to grips with the process though, a larger bankroll means you can do multiple offers at once. This enables you to increase your bankroll faster.
What if I don’t have £300 to start with?
If you don’t have £300 available, it’s absolutely fine to start with less. It will just take you a bit longer to build your bankroll up. This doesn’t mean you have to set a different end goal to someone with more initial funds. It might just take you a little longer to get there…
The above table illustrates how a bankroll of £6,000 should be achievable, regardless of your starting bank. It might just take you a couple of months longer to get there with the smaller start.
Even if you have £300 available right now, but feel unsure about the process, there’s no harm in starting smaller. Once you’ve completed your first couple of offers, you should then have the confidence to deposit more funds and make things a little easier.
Everyone’s matched betting journey is different.
You might have a bigger starting bankroll than your mate, but your mate might have more spare time to commit. People learn at different rates too.
The main thing to note is that your initial bankroll doesn’t limit how much you can earn. It just plays a big part in how quick you’ll be able to make progress. The more funds you’re able to start with, the easier you should find things.