- Value For Money
- Short-Term Earning Potential
- Training Quality
- Long-Term Earning Potential
OddsMonkey is a matched betting platform that shows you how to convert the online bookmakers’ free bets into real cash for minimal risk.
No prior betting knowledge is required as full training is provided.
If you follow the instructions properly, you could make up to £1,000 from the bookmakers’ initial offers, and a few £100s each month thereafter.
All of the strategies are very low-risk – no gambling is involved.
OddsMonkey is one of the best value for money matched betting services out there because you get stacks of advanced software tools thrown in as standard.
Such as the odds-matcher, each-way arbing tool, accumulator finder, and Dutching software.
You can join OddsMonkey for free and earn up to £45.
OddsMonkey are the perfect choice for anyone who’s over 18 and from the UK looking to make a second tax free income online.
- Make up to £45 for FREE.
- No gambling involved.
- No prior experience required.
- Massive array of advanced software tools.
- Excellent training and support.
- Trusted brand – launched in 2011.
- Outstanding value for money.
- 30-day money back guarantee.
- UK only.
- Bit of a learning curve.
Welcome to my OddsMonkey review.
I’ve been a member of OddsMonkey since early 2017 and I’ve been involved in ‘matched betting’ since 2012.
So, I thought that it might be beneficial for you if I share my experiences using OddsMonkey in an unbiased and truthful manner.
And if you have further questions, just leave a comment below and I’ll get back to you ASAP.
What is OddsMonkey?
OddsMonkey is a ‘matched betting’ service.
They provide you with all the training, tools, and support to help you make money by converting the bookmakers’ free bets into real cash that you can keep.
Here’s an explanation of how matched betting works by the OddsMonkey team:
Originally, OddsMonkey started out as a software provider.
Allowing other matched betting companies to hire out their in-house odds-matching software for a fee.
This is something they still do.
But, having sat on the sidelines for a few years gathering intel – OddsMonkey finally decided to go ahead and launch their own matched betting platform in April 2016.
And it looks like playing the long-game has worked.
Because they are now one of the most widely recognised matched betting services out there.
Who Owns OddsMonkey?
OddsMonkey was founded by Paul King in 2011 and he still runs the company today (correct at the time of writing).
Paul originally developed the odds-matching software by himself and hired it out to the likes of Profit Maximiser and Profit Accumulator.
The OddsMonkey matched betting service was born when they teamed up with OddsToIncome in early 2016.
Are OddsMonkey a Scam or Are They Legit?
They are a real company that teaches you how to do matched betting.
Matched betting is not the same as gambling.
In fact, matched betting has been covered a lot by the media in recent years.
With The Guardian probably being the most widely recognised:
Image source: https://www.theguardian.com/money/2010/jul/24/free-bets-bookies
How Do You Make Money With OddsMonkey?
The basic matched betting process works like this:
1: You place a ‘back bet’ with your OWN money with the bookmaker.
2: You ‘lay off’ your back bet using a special website called Betfair.
3: This qualifies you for a free bet – all WITHOUT risking your own cash.
4: You then repeat the process to extract a guaranteed profit from the free bet.
5: Do this for all of the online bookmakers and you’ll make around £1,000.
Earn Ongoing Profits
Once confident in the basic matched betting process, you can then make a start on cashing out the bookmakers’ ongoing free bets.
And there’s more.
OddsMonkey has several specific tools that allow you to make even more money by exploiting specific betting loopholes.
One such example is that of the pricing inequalities that exist in the each-way markets.
Another is the process of sequentially laying off an accumulator bet to claim the free bet when exactly one team loses.
These are very advanced techniques.
But they all provide long-term scope for generating a legitimate online income.
Are There Any Risks?
If you place the wrong combination of bets, you could potentially lose money depending on which bets win and which bets lose.
This is an occupational hazard of matched betting.
I, myself, have made some pretty spectacular blunders over the years.
However, many of these stemmed from either inexperience or carelessness.
OddsMonkey’s specific training helps to reduce the frequency of such costly errors.
Which is why I’d recommend learning the matched betting process through OddsMonkey – rather than trying to figure it out alone.
What’s the Customer Support Like?
Very good in my experience.
I’ve had dealings with both Sam and Craig via email and they have always helped me out quickly.
The support staff on the forums (Suzy Beth in particular) have been most helpful too.
There are also some good insights and advice posted by the other members too.
However, I’ve also read some reports of people being less than chuffed with the response time.
I don’t know any further details in regards to those examples, so I can’t really comment.
How Much Does OddsMonkey Cost?
You can join up for free and access a limited part of their website.
If you like what you see, you can then upgrade to the premium service to get full site access.
You can either pay as you go for £17.99 a month – or £150 for the year upfront.
What Do You Get When You Join the Free Membership?
The free membership teaches you how to do matched betting.
You’re also given the opportunity to bank around £45 in real cash from two bookmaker offers.
Which is a pretty good deal in my opinion.
What Do You Get When You Upgrade to the Premium Membership?
Premium access comes with a lot of features.
I’ll not list them exhaustively, but here are the main ones:
1: OddsMatching Software
This is the backbone of the service.
The OddsMatching Software allows you to find the best possible matched bets in a fraction of the time.
This has the residual benefit of increasing your profits because you’ll be getting better matches on your selections.
You’ll be using this software a lot throughout your matched betting journey.
Here’s a video explanation on how to use OddsMonkey’s oddsmatching software:
2: Matched Betting Calculator
The matched betting calculator works out the bet sizing for you.
This removes the need to do any mental arithmetic.
Which is great news if you’re a maths dunce like myself.
This is the first tool that you should get to grips with because it underpins the entire profit generation process.
3: Dutch Matcher
The Dutch Matcher is a special type of odds-matcher that can help you find profitable bets that do not require free bets to lock in a profit.
This is an advanced tool.
Focus on learning the basics of matched betting before you start looking at the Dutch Matcher.
4: Each Way Matcher
The Each-Way Matcher is also another great tool for making money without relying on free bets.
And there’s still no gambling involved because you’ll once again be using Betfair to cover your bookmaker bets when they lose.
I’ve made in excess of £10 per race using this tool – regardless of which horse won.
My advice is to have a look at the Each-Way Matcher once you’re 100% confident in exploiting the bookmakers’ free bets.
And start off small.
Test the waters with a £5 each-way bet and scale up from there.
Here’s a video explanation of how the Each Way Matcher works:
5: Accumulator Matcher
The Accumulator Matcher finds bets that are profitable when you factor in the bookmaker’s ‘acca insurance’.
Acca insurance offers typically mean that your bet will be refunded in full (usually capped at £10, £20, or £25) as a free bet if exactly one ‘leg’ [selection] loses.
The Accumulator Matcher comes with a special type of matched betting calculator that allows you to lay off each leg in sequence.
This prevents you from losing any money if the accumulator does not win.
There are also some advanced options that allow you to make a profit no matter how many selections win or lose.
Here’s a video overview of OddsMonkey’s associated Acca Finder tool:
Personally, I’ve been banking around £3 – £5 on average for each accumulator bet placed.
Not a lot – but you can run several accumulator bets at the same time to increase your overall profits.
The Accumulator Matcher is the most complicated tool to get your head around.
So make sure that you understand the basic matched betting process in full before you give it a try.
Oh, and it only really works when the football seasons are in full swing.
6: Bookmaker Starter Offers
The fastest way to make money with OddsMonkey is by learning the basic matched betting process and then applying it to the ‘New Account Offers’ (NAOs).
By signing up to each bookmaker and cashing out their free bets, I made around £1,000.
The offers vary in complexity.
Conveniently, OddsMonkey has segmented each NAO by their respective difficulty.
Work through the ‘easy’ and ‘average’ offers first.
You can then move on to the harder stuff if you so wish.
7: Daily Bookmaker Offers
The fun doesn’t stop once you’ve completed the bookmakers’ welcome offers.
There’s a daily calendar that displays all of the profitable ongoing bookmaker offers.
Full instructions for making money are included for each entry.
I didn’t wait to complete all of the sign-up offers before moving on to the daily stuff.
But be careful that you don’t get in over your head too soon.
I’d start looking at the calendar once you’ve cashed out all of the ‘easy’ welcome offers.
And then start small with the ‘bet £X get £Y free bet’ style ongoing offers.
8: Forum and Support
The community forum allows you to interact with both the other members and the OddsMonkey support team.
And it’s pretty active in there.
The ‘Existing Customer Offers’ section has more than 1,000,000 posts alone!
Personally, I prefer the support ticket system for getting a quick answer to a question.
But I’ve also learned a lot from the general community too.
Is There a Money Back Guarantee?
OddsMonkey will refund your money within 30 days from the point of your first purchase.
Just email support and they will sort this out for you.
- A legitimate way to make money online.
- No prior experience required.
- Excellent training and support.
- Lots of advanced features.
- Not too expensive.
- 30-day money-back guarantee.
- Might be a bit overwhelming at first.
- Matched betting doesn’t work that well outside the UK or Ireland.
Conclusion: OddsMonkey is a 100% Legitimate Way to Make Money Online
OddMonkey is as legit as it gets when it comes to making money online.
And they’ll hand you all the tools and resources that you’ll need to start getting results.
But you’ll need to remain focused in the early stages though – since the learning curve can be quite steep.
Be sure to contact support if you really get stuck.
Because once you’ve got your head around the basic matched betting process and banked your first profit – things get exponentially easier.
If you’re still on the fence, why not give the free trial a go to test the waters?
Let me know if you have any further questions in the comments section below.