Welcome to my monthly side income report. Here I share exactly how I made an extra money on the side and hopefully you can do the same, if not better in future months.
January was a bit of a lighter month for me. I didn’t set any specific income goals. My spare time attention was mostly focused on finalising the end of year accounts and self-assessments etc. What a joy!
However, I always like to earn at least a few hundred pounds a month in extra income on the side and I achieved that again this January with relatively little effort time-wise.
January 2018 Matched Betting Income
Matched Betting is my favourite source of extra income. If you have not previously heard of it or have but have pre-misconceptions please check out my Matched Betting Guide for Complete Beginners.
Matched Betting is a genuine way to make profits from the free bets and related offers that the many online bookmakers offer. It is not gambling. You typically place 2 different types of bets which cover all result outcomes. This, for a small loss, qualifies you for a free bet from which you can profit. Check my lay betting page for a better illustrated explanation.
You can get started with Matched Betting right now at Profit Accumulator, which is the Matched Betting site I use and the market leader in its field. It is ideal for beginners. You can earn £30+ just from the first 2 free offers they walk you through with full written and video instructions.
As per previous months, I provide a full breakdown of where my Matched Betting profits came from so you can see the various elements involved. This month admittedly less than previous months but I basically took a break and just cherry-picked a few offers now and again.
See how I made much more Matched betting Profit in previous months:
- £352.26 Extra Money from Matched Betting in December 2017
- £523.07 Extra Income from Matched Betting November 2017
January 2018 Matched betting Profit Breakdown
- Sportsbook Reloads £39.91
- Casino Offers £32.70
Sportsbook Reloads £39.91
A real light month on these. I only completed 4 quick and easy reload offers all found at Profit Accumulator. There are usually 100+ a day to choose from if you include all the different type of refund opportunities.
This month I just did quick easy wins. A Fun88 risk-free £10 bet, 3 small qualifying bets for a £15 William Hill Free Bet and then 2 attempts at the Ladbrokes bet £5 get free spins per goal and sometimes a £5 casino bonus. These Ladbrokes offers only cost pennies to qualify and only takes 1 spin to win big.
Being a Matched Bettor for almost 2 years, I am gubbed at a few accounts so I’m limited to what offers I can do. However I have earned over £13,000+ in that time, so it’s been well worth it. Best of all, any money we make Matched Betting is all tax-free.
If you are a beginner you have the added advantage of being able to do all the sign-ups, which alone can make you hundreds of pounds. Also, you would have full choice of all the easy reload offers.
For those that don’t know:
- Sign Up Offers – Are offers to entice new customers
- Reload Offers – Are a range of offers for existing customers
Being gubbed is when a bookmaker basically stops giving you free bets. It feels like a bit of a blow when you get the first ones, but don’t worry, there are still plenty of ways to profit from gubbed bookmaker accounts.
Casino Offers £32.70
I attempted 18 casino offers. 8 of which were easy no risk-free spins type offers. I was really choosy on which offers I did, opting only for risk-free or low-risk offers, generally those over 20% Expected Value in relation to the amount of wagering. The lowest I did was 19%. The Expected Value info is provided in the Profit Accumulator instructions for each individual offer.
All in all a pretty quiet month on the Matched Betting front. No easy price boosts or Dutching or refund attempts.
Of the £32.70 casino offers total, £8.23 was from the no-risk casino offers. Usually, these were quick 10 free spins keep winnings type offers.
Bookie and Casino Cashback: £0.00
Ideal for when you are starting out because some of the sign up offers via the best cashback sites sometimes pay really good cashback when signing up for an online sportsbook, casino or even online bingo site.
As an established matched bettor, I didn’t do any new sign-ups this month, but if you are doing sign-ups, the cashback deals are certainly worthwhile looking for as often you can make over £30-£60+ extra on top of making a profit from completing the sign-up offer in its own right.
Do double-check the terms at the cashback site though to make sure there are no offer conflicts. I personally always considered the cashback a bonus. the vast majority of times I received it.
Another option that pays out over time rather than from the start is Gambling Deals Cashback.
They pay 5% cashback on any losses you incur at the sportsbook or casino. The cashback used to be a lot higher and much more worthwhile, but I get the impression some people abused it. However, even at 5% it’s potentially extra profit for no extra work.
Facebook Group Admin £50
I help out with the admin for a Matched Betting Facebook group. I originally joined to learn more myself. Over time I become one of the more knowledgeable members and was helping out other members on a consistent basis. So when the opportunity came to become part of the Admin team I took it.
This is a great example of learning something new and earning from it. Plus it’s always good to help out others.
Cashback Income £25.00
Back in November, I was alerted via email to an energy price comparison saving I could make. It was time to make another switch after previously switching my gas and electric saving £360. Something I highly recommend doing. If you haven’t switched in over 12 months, it’s extremely likely you are significantly overpaying on your energy bills.
Once you do your first comparison your details are stored at the comparison site and its even easier to switch in future. They will know which energy company and the tariff you switch to. This makes it easy for them to inform you via email as to when you could be getting a better deal at any time in the future.
Bank Account Switching £250
My biggest side income boost this month was for a massive bank switching payment of £250. This is the biggest bank switching incentive I have ever seen.
This £250 was earned on behalf of my wife although I alerted her and assisted her through it, even though its really easy.
Separately I did the switch myself but turns out the offer had been pulled 2 hours before I clicked through to the site. Yes, they told me this on the phone when I enquired. I was a little disappointed, to say the least.
Action Plan: If this is something you would like to make money from in future but you don’t want to switch your main bank account, simply set up a new bank account that doesn’t currently offer a switch deal. If you set it up as an account which has a couple of DD’s set up on it, it will be suitable for a wider range of switch offers. You can fund the account with standing orders going back and forth from other accounts.
Check here every so often for the Best Bank Account Switch Deals. If you’ve not done this before you could make a good few hundred pounds within a year. Just keep switching. The switch process is really simple and straightforward and all standing orders and direct debits are switched by the bank as part of the process.
I have a full post on how to make money from switching banks.
Dividends are one of my favourite forms of passive income. I covered them in more detail in my December 2017 Income Report. Basically, if you own shares in a company and they pay out a portion of their profits to shareholders, this is called a dividend.
In an ideal world, you would want to own shares in a company that increases in dividend every year, ideally more than the rate of inflation.
January I received the following dividends from
- Next (interim)
- Next (Special)
- Greene King
- Royal Mail
- National Grid
- British Land
I started investing as a high yield investor. However, over time, I am more inclined towards dividend growth investing. So I wouldn’t necessarily purchase the above companies today.
Normally I’m a long-term buy and hold investor so I rarely sell. However, I have actually since sold out of the 3 supermarkets, Tesco, Sainsbury’s and Morrison’s.
It is relatively easy to buy shares in an individual company. Although it is risky. I would only personally do it with the intention of building a well-diversified stream of income that pays out more than a bank account and has the bonus of capital gains. However, investments like these can go down and in the case of companies like Carillion, you can lose everything invested.
No advice intended. I’m always learning about investing and just sharing my experience.
January 2018 Side Income Grand Total £347.61
All in all an okay month considering the very little time available to put into earning extra money on the side. However, it’s months like these, when you keep making some effort instead of having a whole month off. By the end of the year, it will have all added up.
Earn Yourself Some Side Income
If you are remotely interested in Matched Betting, do take a look at Profit Accumulator it is quite often the case it is not quite as daunting as people first think. Take your time. Read the instructions, watch the videos. Make notes. Watch again and before you know all the new information will sink in.
£347.61 a year is £4171.32 a year that most people with just a few hours a month could have a go at earning too if they have some money to use. A large portion of the income is tax-free too.
If you have any questions please ask in the comments.
Am I missing any good side income opportunities? Let me know too.