When it comes to betting strategies that make money few can compete with the world of matched betting. There are several companies who specialise off the back of this niche with one of the biggest names out there OddsMonkey. Here we take an in-depth look at their platform and provide our honest opinion on whether they’re worth your time and money.
What is OddsMonkey?
OddsMonkey is a website that is underpinned by clever software development which enables their customers to make money through matched betting without risking any cash. The idea of matched betting has existed for almost as long as online bookmakers have been a thing but OddsMonkey were amongst the first – and possibly even the first – to consider turning the matched betting process into a business model.
Paul King, who was a developer by trade, has spoken of his idea for OddsMonkey being born some nine years ago – in 2011 – after finding reference to it in a column by money man Martin Lewis. From there King conducted his own research and began matched betting. By following the process himself, King realised the opportunity was real. The trouble is, it was a painful thing to complete properly with time aplenty needed to source the right bets. OddsMonkey was created to streamline those issues.
As mentioned, the journey began in 2011 but OddsMonkey didn’t become a full time gig for King until 2016. Since then, the platform has gone from strength to strength having served over 40,000 paying customers.
How Does OddsMonkey Work?
The concept of OddsMonkey is a simple one. They provide their customers with a range of tips and tools to ensure they can place multiple bets across the same event to guarantee a profitable position. Of course, the site hasn’t been in development for near on a decade just to give it all up for nothing; after all a business wouldn’t last long without making money.
Primarily, the business model is a subscription service where you pay a fee of £19.99 each month for full site access. There is, however, an option to pay a flat £150 for 12 months’ worth of access. The big difference between OddsMonkey and most standard subscription schemes is that this one doesn’t come with a contract. If you don’t like it, cancel it and that’s that. In fact, if you’re not satisfied with their service they’ll even refund you £19.99 – the equivalent to the cost of one month’s access.
That’s not all though. They also offer a completely free trial with no card details required. The difference between the free trial and the month refund option is the fact that the 100% free option comes with limited access; you’ll get access to the main oddsmatcher software (more on this later), basic introductory training material and free bet offers that will net you up to £56 profit.
Is OddsMonkey Legitimate?
When you’re offering a guaranteed money making scheme for less than £20 a month there will inevitably be questions arise with words such as ‘scam’ being thrown about. We promise you that OddsMonkey is not a scam. If you follow the guidance and tools that are available, you will make money.
Don’t just take our word for it though, they also have a rating of 4.7 out of 5 on Trustpilot with 83% of people rating their service as ‘excellent’. Just 4% rate them as ‘poor’ or ‘bad’.
Tools & Services
The different ways to make money via OddsMonkey are vast and each requires a slightly different level of understanding, a tweaked process to follow and the all-important calculations vary too. Here we take a deeper look at what is available.
Training & Tutorials
First and foremost, our advice would always be to have a base level of understanding prior to dipping your toes into the water. OddsMonkey puts all this information in one place. They provide user guides that walk you through the full process of how to turn a profit starting with a 60 second guide to what matched betting is all the way through to explanations of how more complex bet types have to be managed.
That’s not all though because not only do they give you access to their fancy software and calculators but they’ll show you how to use them too.
Finally, regardless of whether you learn better as a reader or a listener, OddsMonkey has you covered courtesy of their training material being available in blog form or as well put together videos.
The Oddsmatcher is perhaps the element of OddsMonkey that founder King is most proud of. What you’ll see is a slick tool that provides you with the events offering the best profit making opportunities and what bookmakers and betting exchanges you need to wager with.
What is less clear to most is the insane levels of complexity in the background. There is a huge amount of coding that crawls the internet to collate this information together; the tool covers nearly 100 bookies and four exchanges (there are only a few exchange markets out there). Imagine doing that yourself and you soon start to understand why a subscription might be worth thinking about.
On top of that, the tool comes with easy to use filters allowing you to target specific bookies and then, finally, there is an in-built calculator that shows you what stakes to apply to each part of the bet to maximise your returns.
Betting Exchange Integration
First things first, if you’re new to matched betting it’s feasible you are unfamiliar with what a betting exchange is. The simple explanation of this is that a betting exchange allows you to ‘lay’ bets; this means that rather than, for example, backing Manchester United to win a match you can bet on them not to win. It’s a fundamental part of matched betting.
In most cases of matched betting, you’d have to find the event and odds you want to bet on then visit the bookmaker and place your bet before logging into an exchange to lay off the bet. This can be time consuming and, although it’s only a matter of a minute or two, it does open up the risk of markets moving. Well, OddsMonkey takes that stress away with integration services linking your OddsMonkey account straight into some of the biggest betting exchanges on the internet. Time saved, risk reduced. Happy days.
Horse Racing Matcher
The horse racing matcher is very similar to the Oddsmatcher we’ve just mentioned. The main difference being that it’s specific to horse racing. Horse racing is a unique opportunity in the world of matched betting with the fact the horses run all year round and, also, there are a host of offers to unlock such as ‘get a free bet if your horse comes second’.
This matcher can help you unlock those offers despite the fast moving markets. This is potentially the area that takes the biggest benefit of having the betting exchanges linked.
The Acca Matcher allows you to make money out of one of the most popular bet types there is – the accumulator. The software actually doubles up as two different tools rather than just the one. As you may imagine, there will be various combinations of events that can be put together for a profitable outcome with the key to winning accumulators in a matched betting world the ability to successfully unlock ‘acca insurance’ offers.
The tools on offer are two-fold. Firstly, there is the Acca Finder. The Acca Finder provides you with a series of set accumulator selections that are viable for matched betting. The second part is the Acca Builder; this works in a similar manner but you can tailor your selections from a pool of suitable fixtures. Either way, the Acca Matcher software will walk you through the process in terms of stakes, how to lay off the games (there are a few options) and, most importantly, it will help you lock in profit.
Each Way Matcher
Here we take a quick look at one of the more advanced tools OddsMonkey offer. Depending on your betting experience, it’s quite plausible that you’ve never placed an each way bet. An each way bet is a single wager on one selection – say a horse – that then doubles up to become two bets I.e. ‘I bet horse X will win or place’. The place element of a bet varies by event and bookmaker but usually stretches to cover either a second, third or fourth place finish.
The OddsMonkey each way matcher highlights instances where you can lay off your each way bet in a betting exchange – or combination of exchanges – to walk away with a guaranteed profit. As with everything on OddsMonkey, there is a calculator that runs alongside the matcher so you know what stakes you need to use.
Finally, there are a couple of huge upsides where each way opportunities exist. First of all they exist for 364 days a year – the exception being Christmas Day. The most exciting news though is that you don’t actually need a free bet offer to make money.
Dutch Matcher Software
The Dutch master software is something for the more advanced matched bettor. The process is very similar in that you guarantee a winning bet, however, rather than laying your selection with a betting exchange you cover all possible outcomes with traditional bookies.
This is a more complex bet to place because you have to place more than just the usual two bets. The Dutch master does all the hard work for you though meaning you just have to place the bets. The big upside you get through this method is not having to pay betting exchanges commissions, which regularly range from 2-5%.
In the way that it works, the tennis matcher is pretty straight forward in that it follows the same principles as the oddsmatcher; simply find your bet and place your respective stakes.
Where it excels though is in the fact that OddsMonkey have made tennis a viable matched betting sport. That may sound odd if you’ve not been close to tennis betting in the past but bookies vary their terms a lot (as opposed in something like football) and the odds move quickly. The combination of smart software and integrated betting exchanges means tennis is something worth getting into as your experience level grows.
There are loads of offers to be exploited too.
The amount of users who bet without tracking their winnings amazes us. You’d never invest cash into the stock market without visibility of how profitable your trades are. Betting is no different. OddsMonkey offers its members the option of an in-house profit tracker. We’d recommend you use it.
It’s really easy to use as you can automatically push bets from the oddsmatcher into the tracker but you can also manually add lines if there is stuff you’ve managed to find offline i.e. exploiting in store slips where odds are more rigid or if you’ve done a bit of matched betting outside of OddsMonkey.
What’s more important than knowing what you’ve won though is where you’ve won it. Over time this picture will build up in your profit tracker and it will guide you to the most profitable places to bet!
It’s needless to say that not all 40,000 OddsMonkey members are active on the site’s forum but there is still a healthy amount of conversation that takes place. It can carry a huge impact on how you approach matched betting.
From a cold hard cash perspective, members will highlight any particularly strong offers in the forum which, if used, will have a direct impact on your profit for the day. Beyond that though, there are regular posts that answer questions on all things matched betting. Although there are comprehensive training guides sometimes there is nothing better than having a back and forth with different users to master the understanding and complexity of a topic.
Finally, there is the increased social element. For some people this will mean nothing, for others it is an enormous thing. Either way, you can get involved as much or as little as you want. Regardless of how you use the forum, it can definitely improve your experience of matched betting.
Casino & Bingo Offers
Before we wrap up our review of OddsMonkey, we do just want to take a moment to mention the non-matched betting element on offer – their casino and bingo offers. Let’s be clear, they are nothing more than a side hustle but when you’re signing up for as many accounts as you will be, then they can be a worthwhile road to tread.
When the training guides and the OddsMonkey community fail you there is always the reassuring safety net of the customer service team. They’re around every day of the week and can be contacted via phone, email or on social media platforms – namely Facebook and Twitter.
Their main goal is to provide a quality service to their customer so whether you need help with your account or are simply struggling to grasp one of the betting techniques then they are there to help. Don’t be afraid to use them.
Right, how much do we read into success stories on, well, anything? Plenty of punters will tell you they’re a load of nonsense; others will take them as gospel. Well, what we can say for sure is that there are countless users making big money by using OddsMonkey for very, very little risk. That’s a fact.
The site itself incorporates a few testimonials. You’ve got Gavin who is bringing in £1,400 each month despite only starting 11 months previous. Ailsa – a complete betting novice – is three years in with an average taking of £650 per month and then you’ve finally got David who aims to hit £1,000 each month. They’ve got different stories but the ending is the same; matched betting with OddsMonkey has changed their life.
OddsMonkey or Profit Accumulator?
If you’ve already read through our review of Profit Accumulator then you’ll have found some serious similarities between the two platforms. The pair are the two biggest matched betting tools out there and, truth be told, there isn’t a huge amount between them.
Cost wise, they are identical. There are, however, some places where the two exchange blows to promote themselves as the best. Firstly, let’s look at the big upsides Profit Accumulator have. They’ve serviced over 100,000 customers, which is more than twice what OddsMonkey can boast. It’s not necessarily representative of a better tool though – it might just be the result of having had a bigger marketing budget. What does hold some weight in their favour though is the fact they claim to find more free bet offers than OddsMonkey. That could have a direct impact on how much money you make.
OddsMonkey aren’t just laying down in the fight to be number one though and the fact exchanges like Betfair and Smarkets have established relationships in place could be worth its weight in gold depending on how you value your time.
When it boils down to it, we always take the stance that there isn’t much in it. A suggestion that we’d recommend is taking the free trial on Profit Accumulator and then sign up with OddsMonkey for their money back offer. Decide what site offers, tools and services you’re most comfortable with and go with them – your opinion will always be the most relevant and, this way, you won’t be out of pocket either.
So, that’s our review done and dusted. How would we sum the platform up? Well, they’ve been fully established now for pushing five years and in that time they’ve built up a healthy customer base and plenty of trust. They’re not going anywhere.
What you get for your money is hard to grumble about too. Their various matching tools and bet calculators are as good as anything out there and, providing you follow their detailed training guides and videos, you can start making money from a complete standing start.
If matched betting sounds like something you want to try then OddsMonkey won’t leave you disappointed.