LAST UPDATED 13th September, 2017
If you’re thinking of trying matched betting, you might be wondering which is the best matched betting service to try. There are a few options, so here’s my OddsMonkey review.
OddsMonkey started life simply as a software provider, developing matched betting tools such as oddsmatching software – essential for matched betting. But, in recent years, the company has undergone a transformation and now offer a more complete matched betting service, including instructions, listing offers and support.
RELATED: READ MY PROFIT ACCUMULATOR REVIEW
Is it a scam?
- 1 Is it a scam?
- 2 The service
- 3 August 2017 update: Betfair Integration
- 4 September 2017 update: Reduced Betfair commission
- 5 OddsMonkey evaluation: strengths and weaknesses
- 6 OddsMonkey testimonials
- 7 What is matched betting?
One of the most common questions asked about matched betting and services such as OddsMonkey is “is it a scam?”. It’s quite understandable, really, given the nature of the method and the fact it seems a little too good to be true. But, rest assured, it is a 100% legal, legitimate way of earning money and all profits are tax-free.
OddsMonkey have everything one would expect from a matched betting service – probably inspired by the example set by Profit Accumulator.
There is a free trial including two bookie offers that should make you up to £45. There’s a list of sign-up and existing customer offers, step-by-step instructions on how to do the offers, a few video tutorials, matched betting software, a forum and all the software you will need.
Here’s a review of OddsMonkey’s key features. Please note that all details are correct to the best of my knowledge at the time of publishing.
The monthly subscription to OddsMonkey is £15. This is very competitive and cheaper than £17.99 at Profit Accumulator. The annual fee is £150 – which is the same as at PA.
OddsMonkey include access to all their tools for this price. Profit Accumulator previously charged extra for two of their advanced tools (Match Catcher and Acca Catcher) but have since followed suit and now also include all of their tools for £17.99.
OddsMonkey have a list of sign-up offers to work through to help you get used to matched betting and build up your bankroll.
Unfortunately, the list of sign-up offers is not exhaustive. There were 42 when I counted (PA had 54 on the same day) and this is something that needs improving. Users only get to complete these offers once, so that’s quite a lot of potential profit to be missing out on.
This also extends to the existing customer offers – or reloads as they’re sometimes called.
There are not as many available as on PA and they tend not to be updated quite as frequently, which again, means missing out on potential profit.
The daily offer calendar is a nice idea – it flags up each day’s offers and shows you how much you can expect to make from each one.
August 2017 update: The team at Profit Accumulator clearly agree with this and added their own offers calendar in early August 2017.
Support at OddsMonkey is available seven days a week. Users can email or fill in the online form, or use the FAQ. There is no support phone line, which is a shame because, on occasions, you might need urgent help – particularly if you have made a mistake.
There is a matched betting forum, where users can post messages and get help from other matched bettors, though this is not as active as the forum at Profit Accumulator.
Instructions and guides
All the sign-up offers have instructions on how to complete them which are pretty easy to follow. There are video tutorials on how to do many of them but not all – it would be nice to see a video tutorial for each one.
OddsMonkey also provide instructions and training videos, ranging from how to start matched betting to how to use the advanced tools such as the each-way catcher.
OddsMonkey have made significant improvements to their selection of videos but still have some way to go before they can rival Profit Accumulator in this respect.
No arguments here – the software is spot-on. You can tell this is OddsMonkey’s real strength and their oddsmatching software and matched betting calculator are impressive.
Oddsmonkey started life as a supplier of software to other matched betting sites, so it figures that their tools and products are up there with the best.
Oddsmonkey have since became a full-blow matched betting site and their software is the main strength. Their move forced companies such as Profit Accumulator to come up with their own software and that’s benefitted customers across both companies.
The Acca Matcher and Horse Racing Matcher are also decent and the fact that access was included as part of your standard subscription used to be a big advantage over PA. (PA have since followed the example and also offer all tools as part of standard membership).
August 2017 update: Betfair Integration
In late July 2017, OddsMonkey added Betfair integration to its service, which has to be applauded as another major strength.
It basically means customers can place their Betfair exchange bet directly from the main oddsmatcher, without having to switch tabs or leave the site. It’s slick and speeds up the whole process and is something that Profit Accumulator should definitely look to add.
September 2017 update: Reduced Betfair commission
On September 13th, OddsMonkey announced a deal with Betfair that allows members a lower commission at Betfair.
The rate will be cut from 5% to 2% per cent for members who opt in. This is a real plus for members who do a lot of matched betting as it could save them a few quid.
How much can be made from OddsMonkey?
Just like most other matched betting sites, OddsMonkey say that you can make more than £1,000 a month using their service.
Just like with all sites, though, this will depend on your individual circumstances and, in particular, how much time you can spare on matched betting.
There is no reason to think that £1,000-plus per month is not achievable, but the lower amount of regularly updated existing customer offers might mean hitting that target is a bit more of a struggle.
OddsMonkey evaluation: strengths and weaknesses
- Excellent matched betting software
- Competitive monthly fee
- Fewer offers than other sites
- Less active forum
- Fewer video tutorials
- Odds do not update on the fly – users need to refresh to see updated prices
OddsMonkey review conclusion
What they say: For years, OddsMonkey has helped 30,000 people earn up to £1,500 a month, tax-free. Now that’s not peanuts, is it?
Oddsmonkey offers you the very best tools and support to help you maximise your income. If you’re an experienced matched bettor who can’t afford the time to look for offers or you’re new to matched betting and don’t know where to start. OddsMonkey can help.
What we say: OddsMonkey certainly has some good features. The software is a particular strength and the lower monthly rate is tempting. However, Profit Accumulator has more sign-up and existing customer offers, a better forum and more video tutorials, so it’s worth the little bit of extra cash per month. Or, if you subscribe annually, it’s the same cost.
No OddsMonkey review would be complete without customer testimonials. OddsMonkey have a few on their site. Here’s some extracts about what people like about the service and how they have found it so far.
Ailsa: “There’s lots of things but I’d have to say that it’s the OddsMatcher. It’s saves me loads of time! It’s that simple and because it saves me time I can make even more money by matched betting.
“I wouldn’t say it was easy as such. I know nothing about sport. I knew nothing about betting. I didn’t get odds. So, by the way, if I can learn it anybody can. It took a bit of time for me to get used to it and I was quite slow I think. I was following guides on Money Saving Expert at first, looking for everything myself and then using a spreadsheet to try and calculate my bets. I got by for a few weeks and then my friend told me about OddsMonkey and that’s when I really started to find my feet.
Gavin: “For me it’s the support you get from the OddsMonkey team and the support from the community as well. I’m learning new things all the time and it’s really boosted my profits.
“I was dipping in and out of it for a few months and probably didn’t pick it up as quickly as I should. It’s hard but then it just clicks and it’s easy but you’ve got to put a bit of time in at the start to get your head around it all. The training guides are mint though – if you follow those you’re laughing – and the support that you get helps as well. There’s been a few times where I wasn’t sure what I was doing and I’ve been helped by the community or by OddsMonkey support”.
Connor: “How easy it is to earn extra money.
“Before I started uni I had the time to put a few hours aside to properly get my head into it and over the course of a couple of days I just concentrated on doing some of the smaller, introductory offers. There was a bit of trial and error but once I fully understood everything it was like second nature after that.”
What is matched betting?
For those of you reading this OddsMonkey review without the foggiest idea what I’m on about, here’s a little explainer about matched betting.
Matched betting is a process that lets people make a risk-free profit from bookies.
We’re told there’s no such thing as a risk-free gamble, but matched betting is not gambling.
It’s a system that involves placing more than one bet, to ensure any losses are covered.
The profit comes from the bookmaker bonus offers.
Starting out with matched betting
If you’re new to matched betting, it can seem pretty complicated and perhaps confusing.
Sites such as Profit Accumulator and OddsMonkey show members are also shown the latest bookies’ offers and shown how to make money from them in exchange for a monthly or annual subscription fee.
Who is matched betting for?
You don’t have to know anything about gambling or sports.
You just have to be able to follow the instructions.
Matched betting is a great way of supplementing your income, or making a bit of extra cash from your own home.
It’s particularly popular with students and stay-at-home parents.
How much can be made from matched betting?
The amount you make is largely dependent on how much time you can dedicate to it.
One Profit Accumulator member posted in the forum, reporting a £27,000 profit from the past year.
It is possible to make £2,000-plus per month if you have enough time. Otherwise, it’s a handy way of making a few hundred pounds extra every month.