To pay, or not to pay, that is the question facing many a matched bettor.
Matched bettors are typically shrewd creatures. It’s all about keeping qualifying losses to a minimum and maximising those profits. So, for many, the thought of paying a monthly fee for a premium matched betting service like OddsMonkey is not one they’re willing to entertain.
But is it worth the investment?
It’s a question I get asked a lot, so I’ve put this review together to share my thoughts on the subject. As you know, my matched betting blog is completely free to use, so I believe I’m perfectly placed to give an honest and unbiased review.
OddsMonkey is a subscription based matched betting service that shows users how to profit from bookmaker, casino and bingo offers.
When OddsMonkey launched back in August 2011, they were solely an oddsmatcher service. The software enabled users to compare back and lay odds in an instant and avoid a lot of the leg work involved in finding bets.
Their oddsmatcher was, and still is, the best around. It was so popular, that many subscription based matched betting services paid OddsMonkey a monthly fee to use it on their sites.
Inevitably, OddsMonkey made the decision to offer a complete matched betting package and launched a brand new site in April 2016.
OddsMonkey now describe themselves as a crack team of software developers and experienced matched bettors, dedicated to helping their users earn a sustainable, tax-free income every month.
The answer to this question depends entirely on your situation.
If you’re new to matched betting, my advice would be to stick with my blog. From the initial guides to the detailed offer-specific blog posts, it’s tailored towards helping newbies and I like to think you won’t find better elsewhere. It has everything you need to get started and it won’t cost you a penny.
However, if you’re a seasoned matched bettor and are looking for ways to increase your profitability, you should definitely sign up to OddsMonkey. There are many ways of boosting your matched betting profits beyond the welcome and reload offers, such as each way arbing and accumulator offers. Their range of tools simplify each process and I’ll introduce you to them all shortly.
If you decide to join a premium matched betting service, you’ll need to pick one from the hundreds of sites scattered across the internet.
Having been a member for some time now, OddsMonkey get my recommendation. Their range of tools is second to none and their subscription fees are very competitive.
If you decide to sign up for the premium membership, it will set you back £15.00 per month. That’s substantially cheaper than the £20.00+ per month charged by other websites. There is also an option to sign up for a full year for just £150.00. This effectively gives you two months free, bringing your average monthly cost down to just £12.50. Don’t forget, this is an all-in package, so there are no hidden costs!
Despite their excellent range of tools and low prices, the thing that impresses me most about OddsMonkey is the friendly staff and their values. Their ethos is to provide the best possible value to their customers, which is something I admire and can relate to.
They are always looking to develop new tools for their customers at no extra cost. That’s not to say they won’t ever increase their prices, but the great thing about their pricing structure is that once you sign up at a certain rate, that’s the rate you pay for the lifetime of your account.
OddsMonkey have many long-term customers paying just £5.00 per month. That was the monthly rate when they signed up for the original premium oddsmatcher service. When OddsMonkey relaunched the site in 2016 as a complete matched betting package, their prices were frozen. It’s their way of thanking their loyal customers.
So, if you sign up while the price is £15.00 per month and they increase it at some point in the future, you’ll continue to pay £15.00 per month for the lifetime of your account.
Their oddsmatcher is undoubtedly the best around and compares the odds from over 90 bookmakers.
My personal opinion is that you don’t really need an oddsmatcher to do matched betting. With so much football and horse racing on every day, it’s not difficult to find something to bet on.
Having said that, I know a lot of people find them useful, just be sure to vary your bets and don’t take the best option every time. Using an oddsmatcher encourages us to take the best value, which over time can expose us as matched bettors and result in our accounts being restricted.
The Eachway Matcher is where your membership will start to pay dividends. In fact, this tool alone is easily worth the £15.00 monthly subscription fee.
Each way arbing is the process of backing a horse each way and then laying the individual win and place parts, to make a guaranteed profit regardless of the outcome. The Eachway Matcher scans the markets in an instant and identifies the races and horses that represent a profitable opportunity.
There is an option on the right-hand side of the tool to open up a calculator. The calculator will automatically crunch the numbers and show you exactly how much you need to lay on both the win and place parts of your each way bet.
OddsMonkey say The Eachway Matcher has the potential to increase your profits by over £300.00 per month. Some OddsMonkey members have actually reported earning up to £700.00 extra on top of their normal profits, through each way arbing! It’s definitely something to consider as we can even do it on our gubbed accounts, stake restrictions permitting.
We can also use the tool for extra place offers.
Horse racing offers are available every single day, making The Racing Matcher another handy little tool to have around.
The Racing Matcher will list any races that have an available offer. We simply select the race and offer that we’re interested in and the tool will list the runners in order of lowest qualifying loss…
We can then make a judgement call on whether the qualifying bet is worth placing, based on our effective odds.
The Acca Matcher is another great tool for the more experienced matched bettor.
It covers four different types of accumulator as follows: no lay, lay at the start, lay sequential, lay sequential (lock in profit).
With over 20 bookmakers to choose from, The Acca Matcher compares bookmaker and exchange odds, to give us the best value accumulator bets available. It also knows which leagues are permitted for each offer, so it will only show us events from the correct leagues.
The expected value of each accumulator is displayed and it’s really easy to amend the accumulator by simply swapping selections as you wish.
There are also many ways to tailor your accumulator. You can select different sizes of accumulator (how many legs), specify minimum and maximum odds and specify how long you would like the accumulator to last (in days).
It’s a big time saver and it’s sure to increase your profits.
If you’re familiar with dutching, you’ll know that it’s a great way of topping up your earnings, especially on any gubbed accounts you may have.
For those of you that are yet to discover dutching, it’s quite straightforward. Dutching is the process of covering all outcomes of an event by backing them at different bookmakers, in order to make a profit. An example of this would be a tennis match where you back Player A at one bookmaker and then back Player B at a different bookmaker.
As always, our profitably depends on the odds available and that’s where the Dutch Search tool comes into it’s own.
The Dutch Search tool trawls the odds of over 70 bookmakers and displays the results in order of profitability. A rating over 100.00 means there’s a profit to be made!
Aside from matched betting, OddsMonkey also cover casino and bingo offers.
Casino’s make their profits via the ‘house edge’. For example, if a particular slot machine has a house edge of 5%, this means that for every £100.00 staked by the customer, the casino will earn £5.00 and the customer will be left with £95.00 (on average).
Just like the sports betting offers, the bookmakers will also run casino offers, in an attempt to get their customers depositing and playing. Due to the house edge, a casino offer is only profitable if the wagering requirements are favourable.
Say, for example, a bookmaker will give you a £20.00 casino bonus if you stake £20.00 on a particular slot. The terms state that the casino bonus must be wagered 10 times before it is withdrawable.
|Bet Type||Total Stake||House Edge||Loss|
So, as you can see, you would lose £1.00 on your qualifying bets and £10.00 on wagering your bonus, giving you an expected value (EV) of +£9.00.
Casino offers are hugely profitable over time, but it’s important to understand that there is a lot of variance involved. The above figures are based on averages. Sometimes you will lose your qualifying stake and bonus, and other times you may win big.
You’ll find the available offers listed in the Daily Offer Calendar section.
As I said at the outset, you don’t need to pay a subscription fee to be a successful matched bettor.
My blog is 100% free to use and you can come and go as you please. The guides will show you how to get started and you’ll find a wealth of information on the forum. We’ve got a great community on there and pretty much every topic relative to matched betting has been discussed at one point or another. So peruse at your leisure.
Having said all that, OddsMonkey is a great premium service, for the many reasons outlined above and if you’re serious about maximising your profits, you’d be daft not to sign up. They’ve served over 30,000 customers since their launch back in 2011, which is testament to the fantastic service they provide.
If you’re still not sure, you don’t need to jump straight into a membership. OddsMonkey offer a free trial which enables you to get a feel for the site before committing.
Not only that, if you do decide to sign up, there is a 30 day money back guarantee. So, if you decide it’s not for you, you can cancel your membership at any time within 30 days and receive a full refund.
Think of it as a risk-free offer and start maximising your profits today!