When it comes to matched betting sites, OddsMonkey is arguably the leader! It’s designed to be an all-in-one guide to matched betting providing you the tools and training that you need to make money from the bookmakers.
But it’s not free. A monthly subscription comes in at £19.99 per month. Yikes!
We’ve used the OddsMonkey site for matched betting over several months now, and we’re ready to share with you whether it’s actually worth the money.
What does OddsMonkey do?
OddsMonkey is a matched betting website which provides all the tools and training you need in order to make guaranteed profits from your bets.
That’s right, those profits seriously are guaranteed and we’ve gone into how matched betting works in a separate article. It involves placing two bets: a back bet and a lay bet on a single event. Placing both of these bets together locks in a profit thanks to the free betting offers that the bookmakers give out.
It might sound too good to be true, but it’s a legit way of making money and has even been covered by major newspapers, like this article in the Telegraph.
If you’re new to the idea of matched betting, the whole concept might sound confusing. But that’s where a service like OddsMonkey comes in. It will take you from zero experience and give you everything you need to make several hundred pounds a month!
Let’s have a look at the key features of the site:
OddsMonkey Tutorials and Guides
When you first come across it, matched betting initially sounds too good to be true. And then it quickly starts to sound too complicated to be possible!
There’s lots of free material that is out there telling you how matched betting works (even OddsMonkey itself has quite a bit where you don’t even have to subscribe).
But nothing can quite prepare you for the nerve-racking moment you place your first bet. And that’s where OddsMonkey excels! Being able to use their step-by-step video instructions to place your first matched bet is really reassuring. It all helps you feel comfortable very quickly and avoids any mistakes which can prove costly.
As you can see above they have everything you need to get started. But even once you’ve been matched betting for a while you’ll still find new tutorials to discover. Their tutorials on advanced matched betting, such as ‘accas’ or ‘each way matching’ can take you to another level.
OddsMonkey Software – the legendary Odds Matcher
The jewel in the crown at OddsMonkey is its OddsMatcher tool. It scans hundreds of bookmakers, and thousands of bets to find you the best ones to place.
It’s the tool that we find ourselves using most, by a distance.
The tool looks like this (click for enlarged version):
The great thing about this tool is that it runs fast, and it can be easily filtered and customised.
Other premium services are out there, most notably Profit Accumulator (which currently costs £24.99 per month and does much the same thing as Oddsmonkey), and there are a couple of free services, including bonusbagging’s Odds Matching Software.
We’ve actually used the free competitors to see if they compare well. Whilst they’re certainly of use, it’s not long before we come all the way back to OddsMonkey as nothing seems to beat the oddsmatcher for depth, speed or user-friendliness.
It’s a key tool, and the best on the market.
New Offers Matched Betting Tools
The key to making money is finding bookmaker’s offers. The bookmakers themselves will alert you to their offers through emails, but it’s a bit overwhelming wading through your inbox and working out which ones are worth doing.
Again, this is where OddsMonkey comes in. It has several pages where you can pick up offers, both for new customers and for bookmakers you’ve already joined. For each offer it tells you how much money you can expect to make and how to do it.
Finding about these offers is crucial, especially when major events like the World Cup or the Cheltenham Festival are on. The abundance of offers at times like these can help you rake in the profits!
OddsMonkey has what you need here but, if we had a small criticism, it could be improved a little. When it has come to existing customer offers we’ve often found ourselves drawn to the excellent free site: https://matchedbettingblog.com (which also recommends OddsMonkey). We’ve found the explanations to sometimes be a bit better on that page, especially where the bet is complicated.
Matched Betting Calculator
A trusty calculator is essential in order to work out the lay bet that you will place at the betting exchange. Get this wrong and you may not make a guaranteed profit. Worse, you might wipe out profits you’ve previously made.
OddsMonkey’s matched betting calculator is simple and effective:
When you’re new to matched betting, this and the Oddsmatcher tool is all you’ll need to make hundreds of pounds a month.
Other free tools and calculators are available on the internet (including this free one from rivals profit accumulator). You can even make your own using Excel for the main types of bets you’ll be putting on – see here for the calculation formulas.
However, it’s not so much the calculator that’s the key thing OddsMonkey offers, it is how to use it that’s crucial. Different types of bets require the calculator to be used in different modes and OddsMonkey’s training makes that crystal clear, so you can get it right.
Also check out: 12 Essential Matched Betting Tips for Beginners
Matched betting help and support
There are a lot of places you can find people discussing matched betting on the internet, but OddsMonkey provides one of the largest forums anywhere.
Although we haven’t found ourselves on there much, it’s useful to know that there’s a huge community you can turn to if you need help.
1.2million posts about customer offers – where else has that?
If you can’t find support in the forum then OddsMonkey has an active and helpful support function. Here you can get help from OddsMonkey staff, if you’re stuck. They can even call you if you need it. Remember, it is in their interest that you get the hang of matched betting so they will give you all the help you need.
Profits Tracking
We’ve found ourselves using our own spreadsheet solution to track our profits (because we’re nerds). However, OddsMonkey offers the ability to track all of your profits on their site, which is a simpler and more automated solution.
Tracking your profits is important in order to keep track of things. It’s also motivating to see how much you’re earning, which will keep pushing you forward with it!
Advanced Matched Betting and Casino Offers
Did you know that you can also apply matched betting principles to casinos, slots and online games? It’s not for the faint-hearted but it’s possible to make money.
OddsMonkey will guide you through the process of how to do these offers, just as it will take you through the finer points of matched betting such as ACCAs and ‘each way’ bets. All of it done professionally and simply (well, as simple as possible) in a way that’s difficult to find guidance on elsewhere.
How much money can you make matched betting?
Writing this in 2021, the matched betting landscape has changed a lot.
Years ago people used to report making four-figure sums in a month. It’s very unlikely anyone is doing that these days (unless they are using multi-accounts, which is a very grey area). The majority make a lot less – though still a decent amount.
Bookmakers are getting wiser to what people are up to with matched betting and frankly they’re looking to shut down easy opportunities for punters making profits at their expense.
There’s still money in the game. 3 of us on this blog made an average of £170 per month (each) in our first 3 months of matched betting. Excellent money for what is a risk-free side hustle! Your earning rate will slow down drastically once you’ve used up all the introductory offers, but we’ve found enough to keep it ticking over.
Most importantly, we made enough to cover the OddsMonkey monthly fee (£19.99) many times over! Matched betting is responsible for well over two thirds of all the money we’ve made since we’ve had our blog going.
Is OddsMonkey worth it – the conclusion
Quite simply, in our opinion it’s a yes.
When you think that OddsMonkey has helped us earn £170 per month from matched betting, it has more than paid for its monthly fee.
And that’s just considering the £19.99 monthly fee. You’re able to pay for 1 year’s fees in one go (which we did after a couple of months of trialling it) and then you pay £180 for the year, which works out at £15 per month. At that price it’s definitely worth it! (It’s also cheaper than their close competitor, ProfitAccumulator which charges £24.99 per month).
Simply, OddsMonkey does the following key things really well:
- Gives access quality tutorials and the knowledge you need to successfully Matched Bet.
- Provides easy, simple to use tools that make matched betting easier (particularly OddsMatcher)
- Helps you find offers run by the bookmakers.
- Saves you time and makes you money!
If we didn’t think it was worth it, we wouldn’t have signed up for an entire year. But we certainly wouldn’t give this the hard sell. We’d recommend you going to OddsMonkey and taking advantage of their 7 day access for £1 offer.
In the course of 7 days, if you can follow their simple tutorials, you will easily make enough money to pay for a month’s subscription (and you should make much more than that). If you like it, continue on with it. Even if you sign up for a month, they have a 30-day money back guarantee if you find it’s not what you expected.
Matched betting is the single biggest earner of any of our side hustles on this site and OddsMonkey has been a key part of that. We don’t know why we weren’t doing it sooner! Do what we did: give it a go and, see how you get on!
–> Go to OddsMonkey Here
Check out: 12 Essential Matched Betting Tips for Beginners – understand the key pitfalls to avoid when you’re just getting started with matched betting.
Note: If you use the sign-up link on this page, we’ll get some affiliate income as a result. We always disclose arrangements like these so you have all the facts. Unlike other sites (most of whom also have this arrangement but don’t disclose it), we want to be upfront. This arrangement will not affect the price you pay, and we’d never recommend anything that we didn’t believe in ourselves. If you do use the link, thank you kindly for supporting the work that goes into this site.
I’ve been using Oddsmonkey for a while now and share your experience – it is worth it. I do wish they would bring it down just a little more in price, but I’m making comfortably enough to cover the cost. It’s also what really got me started in matched betting, so I do owe it that.