Is OddsMonkey worth it? Here's my honest guide to OddsMonkey's matched betting service. Updated for 2022.
Hey guys, welcome to my updated OddsMonkey review for 2022 which has now been read by thousands of eager matched betters – which is pretty awesome.
This is a bullshit free guide. I review lots of things on this website and I recommend products and services I actually use or find useful. Yes, I’m an OddsMonkey affiliate. I do earn commission from sign ups. It doesn’t cost you anything extra to use my affiliate links but it does help keep my belly full of burritos 🌯. If you want to use my links I’d appreciate it, if not, that’s cool too. I hope this review is useful.
In 2017 I originally used to use Profit Accumulator but moved over to OddsMonkey. I joined OddsMonkey as it was cheaper, it did everything I needed as a beginner to make some extra cash, and they built the definitive oddsmatching software (they’re the OG).
OddsMonkey has a free trial available where you can make up to £63* with the introductory offer.
It’s free so might as well give it a go.
*That’s £63 according to the OddsMonkey website as of 3rd August 2022.
Some recent OddsMonkey updates
I’m trying to keep this OddsMonkey review as up to date as possible since I first wrote it in 2017, I’ll list anything that you’ll probably find useful in this section. You can still, however, find my full OddsMonkey review below.
3rd August 2022 – You can now earn up to £63* from the introductory offers on OddsMonkey, up from an estimated £45. That’s up to £63* you can make from the OddsMonkey free trial.
4th May 2020 – With Covid-19 going crazy, matched betting is a great way to make a second income that’s tax-free. If you want to learn more about matched betting then check out my matched betting articles and guides.
24th September 2019 – OddsMonkey Free Trial just got better! OddsMonkey has just released a brand new Free Trial dashboard. This is welcome news for matched betting beginners as it now helps walk you through, not just the one-off offers, but your entire trial with OddsMonkey. It’s a great way to keep you earning cash. I know that when I first started matched betting, it was all too new and confusing. This definitely is a big step forward.
15th February 2018 – Making matched betting more trustworthy! The proliferation of matched betting sites and review websites has been insane over the last few years. Now matcher bettors can trust a little more what they read online as the ASA (Advertising Standards Authority) has enforced tougher standards on matched betting software companies. Now you can be a little more sure of what is promoting is less hot air and more accurate. This is great news for matched bettors, especially for beginners.
14th October 2017 – Proliferation of fake reviews. I’m aware that more negative reviews of OddsMonkey have appeared online in the last few months. From my experience, and reading the reviews that have been published, rating OddsMonkey a lowly 2 out of 5 cannot really be justified – that’s my humble opinion anyway. It’s a tough market out there for matched betting companies vying for new signups so I’d take those reviews with a pinch of salt.
What's Matched Betting?
Ok, here is the origin story...
If you know what matched betting is then please skip ahead. For those of you that are matched betting beginners then let me give you a quick run down. You can find loads of guides on this site about matched betting too.
Online bookmakers run lots of offers, such as sign up offers. It’s because of deals like this that matched betting can exist.
Matched betting is just using these offers from online bookmakers, along with a simple process of placing 2 rounds of ‘matching’ pairs of bets, that allows you to make a profit and earn a few quid.
As a rule of thumb, it’s this process:
- Sign up to an online bookmaker
- Sign up to a betting exchange
- Round 1: Place a bet at an online bookmaker and a matching bet at the betting exchange to activate the offer from the online bookmaker
- Round 2: Place another bet at the online bookmaker (using the offer) and a matching bet at the betting exchange
- You should now have made a few quid
That may seem like ‘what?!’ to you.
Trust me. I thought matched betting was a scam too when I started back in the mid-2010s… a heck of a long time ago now.
Matched Betting without OddsMonkey
You can do matched betting the hard way
There is a way to do matched betting that is completely free but let me warn you off this path.
It’s slow. It’s long. It’s expensive. It’s confusing.
Manually doing matched betting for free means that you need to find all the offers yourself, then you need to work out how to activate the offers, you then need to figure out how to place bets, you need to work out what to place bets on and for how much, plus you need to match those bets at a betting exchange…
It goes on.
Luckily there is a cheap, affordable way to do matched betting and that is with a matched betting service.
What is OddsMonkey?
This is matched betting made easy
You know all of those complicated steps to find the offers, figure out what to bet on, and how to place the bets at the right price.
Well OddsMonkey does all that for you.
It’s this super smart matched betting service that provides matched betting beginners and pros with a simple written and video step-by-step for nearly every single possible offer online.
There are training guides too which help you understand what matched betting is and how to use OddsMonkey.
It also has all of the tools to make matched betting easy from a list of all the available offers for you to complete, a tool that lists all of the events that you can bet on, and a calculator to work out how much you need to bet to complete the offer and make money.
How does OddsMonkey work?
Let's hear from OddsMonkey
There’s a super useful video over on OddsMonkey which basically gives you a great insight into matched betting and how OddsMonkey can help you with it. I can’t embed the video here so head over to OddsMonkey’s website to check it out. Find it on the ‘how it works’ page.
What are you actually paying for?
The real reason you pay for OddsMonkey
This is probably the most important question. What are you actually paying for when you sign up to OddsMonkey.
You are paying for a matched betting service.
You are paying for matched betting software.
As a beginner you’re paying for the following:
- Beginner’s guides to learn matched betting
- Step-by-step tutorial guides to use the sign up offers to make over £1000 in profit
- Oddsmonkey Oddsmatcher to work out what bets to place
Once you’ve completed all the beginner offers you continue paying for these reasons:
- New offers updated daily called reload offers
- Advanced matched betting tools including Acca Finder, Racing Matcher, and Daily Offer Calendar
- 0% commission deals which will save you a lot of money
- Ongoing customer support which is there if you ever need it
- Access to the OddsMonkey community so you can lean on other beginner’s and pro’s experiences
For beginners that means you just need to follow the guides, do as it says, and you’ll be in profit.
For pros that means you can keep making that sweet sweet tax-free second income.
The secret sauce to making money from matched betting
One of the many reasons to buy and use OddsMonkey religiously is the OddsMonkey Oddsmatcher software.
You guessed it. The ronseal effect here.
OddsMonkey oddsmatcher helps you find what to bet on and calculates the bookmaker bet (back bet) and betting exchange bet (lay bet).
I won’t go into the detail here about the OddsMonkey Oddsmatcher but it is one of the key parts of the OddsMonkey matched betting service that get rid of all of the sweat, blood, and tears.
How much does OddsMonkey cost?
There are three subscription options for OddsMonkey. I will cover all 3 of these below…
OddsMonkey Free Trial
A free trial that is completely free
The OddsMonkey Free Trial is completely free. It gives you access to offers where you can earn up to £63*. This is a great way to dip your toe into matched betting without having to part with any cash on a matched betting service. It’s worth taking your matched betting profits and either putting them into your matched betting fund, or using it to pay for the full Premium subscription.
OddsMonkey Premium (Monthly)
An affordable monthly plan
OddsMonkey Premium (Monthly) costs £24.99 a month. It is one of the cheapest, if not the cheapest matched betting service around. It is definitely the best from my experience.
Premium gives you access to all of the training guides, tools, and offers available where you can earn a tax-free second income. For £24.99 a month, to be fair, you can’t complain.
OddsMonkey Premium (Annual)
Save 40% by paying annually
OddsMonkey Premium (Annual) costs £180.00 a year. Which works out as costing you £15 a month. A nice little saving against the pay monthly plan. It’s worthwhile if you want to maximise your matched betting earnings. At the end of the day, that’s why all of us want to do matched betting.
OddsMonkey Promo Code
The best deal you can get is a free trial
Unfortunately, there are no available OddsMonkey promo codes.
Instead, you can grab a free trial where you can make up to £63* cash, completely free.
That’s more than enough to get you a couple of months worth of OddsMonkey Premium…and well on your way to making that tax-free cash.
Is OddsMonkey worth it?
My honest recommendation
From my experience as a beginner my honest recommendation is…
Yes, OddsMonkey is worth it.
You get access to…
- Access to over 100+ tutorials
- Oddsmatching tool, Dutching tool, and Racing Matcher
- Super useful daily offer calendar
- Buzzing online community
- Superb custom support
- Not tied into any long term contract
- 30 day money back guarantee
Real reviews from real users
Don’t just take my word for it, here are some genuine customer reviews of OddsMonkey that have been independently published on reviews.co.uk.
Csilla K – I am really happy that I found Oddsmonkey. I only started doing matched betting 2 weeks ago and already made over 300 pounds. I love the Oddsmatcher which makes it so easy and quick to find the right bet for you. Also, the support team is brilliant! I had some issues which were answered and resolved very fast. I am very happy and impressed with all the service I used so far. Well done Oddsmonkey team! :)
Anthony L – The team have made the process so easy to follow and then the back up support and 1-2-1 training sessions are fantastic. I have used the 1-2-1 training twice now and on both occasions it was just like chatting to my mate but the advice was spot on. I was someone who was very nervous ‘gambling’ and how OddsMonkey holds your hand through the initial process put my mind at ease. You guys are doing an amazing job, well done and long may it continue.
Jane D – As an absolute beginner at this I have found the education from the website and the personal support to be first class. There seems always someone around to help with queries and to offer advice. Keep up the good work!
OddsMonkey vs Profit Accumulator
I picked OddsMonkey as my matched betting service
In 2017 I switched from Profit Accumulator to OddsMonkey. I did this because OddsMonkey being the creator of the software that Profit Accumulator used to use then launched their own matched betting software the end-user (that’s me and you). Plus, OddsMonkey were cheaper than Profit Accumulator and did the same job. In the years since I have not looked back and happy that I chose OddsMonkey over Profit Accumulator.
If you are deciding on OddsMonkey vs Profit Accumulator then I would say there isn’t a lot in it to be completely honest. They offer broadly the same amount of service.
The major difference at time of writing is that OddsMonkey Premium costs just £24.99 a month or £180 for the year. Profit Accumulator price is £29.99 a month or £49.99 a month depending on which plan you pick, that’s £250 a year or £450 a year respectively.
OddsMonkey is my preferred choice.
But there is nothing wrong with Profit Accumulator. Not gonna bash them as they provide a great service which has helped make lots of people money from matched betting.
I just honestly went with the cheaper option, as OddsMonkey and Profit Accumulator roughly do the same thing, so that I can maximise my profit.
Free Trial = OddsMonkey ‘Yes’ vs Profit Accumulator ‘Yes’
Monthly = OddsMonkey £24.99 vs Profit Accumulator £29.99 / £49.99
Annual = OddsMonkey £180 vs Profit Accumulator £250 / £450
Is OddsMonkey Scam? Legit? Fake? Voodoo?
I get asked these questions a lot
No. That’s the short and simple answer to all of the questions.
But let me be completely clear…
Is OddsMonkey a scam? No, it is not a scam.
Is OddsMonkey legit? Yes, it is legit.
Is OddsMonkey fake? No, it is not fake.
Is OddsMonkey voodoo? Haha, no-one has asked this question I just wanted to add it. (It’s not voodoo by the way).
If you were wondering then I hope that clears it up for you.
OddsMonkey Promotional Code
Not gonna lie, there isn't one
Unfortunately there are no OddsMonkey promotional codes, but you can get a free trial available where you can make up to £63*.
Might as well sign up, get the free trial, make up to £63*, then use that to fund a couple months of OddsMonkey Premium.
I hope this review has been useful
I hope this OddsMonkey review has been useful. It’s my honest, first-hand review of using OddsMonkey for matched betting. If you have any questions, or any suggestions on things I can write to add to this review, or other content ideas then get in contact.
The Usual Disclaimer
Insert boring small print here
There are no guarantees. Like everything in life.
I’m legally required to state that there is no guarantee of specific results each month.
The amount of money that you earn can vary dependant on the time and effort that you commit each month.
*£63 is an ‘up to’ figure based on the profit calculations by OddsMonkey from the offers available on the OddsMonkey free trial.
Here's some other things I've written
Answers to your OddsMonkey Review questions
Here are some answers to questions I get asked most about from this OddsMonkey Review. I'll try my best to answer any relevant questions that get sent to me when I can. If you have any questions just drop them in the comments below.
You can make a tax-free second income but it depends on what offers you complete, how much time you put into it, and how much money you can set against bet liabilities. I estimate, on average, I have made about £50* an hour / around £1,000* tax-free a month from matched betting.
No, there are no guarantees of what your specific results will be each month. The amount of money you can make from matched betting is dependent on time, money, effort, accuracy, etc.
There aren't any current OddsMonkey promo codes, but you can grab a free trial.
Currently, under the UK Law, all winnings from gambling are tax exempt. Matched betting winnings are consider winnings from gambling.
I think so, yes. They built the go-to oddsmatcher that everyone used for the last few years and have a simple, easy to use website that helps you make a second tax-free income.
Yes. In 2018, the Advertising Standards Authority enforced higher standards on sites like OddsMonkey so that now they have to state what is realistic earnings but also have to put a disclaimer saying that there is no guarantee (due to human error, other things out of the users control, or out of OddsMonkeys control). On the whole, the up to £63* figure is a good representation of what most users can make in the free trial.
You can ofcourse do it by yourself. I tried this at the beginning and it was a complete nightmare. For the few quid that OddsMonkey costs it will help you reap a lot more money in a much shorter amount of time. On that basis the investment is definitely worth it. Plus, a top tip is to sign up for the OddsMonkey free trial and us that money to help fund your first couple of months of OddsMonkey premium. That's what I recommend if you're keen to make money from matched betting. In short, yes OddsMonkey Premium is worth it.
No. OddsMonkey is not a scam and neither is matched betting. I know it can seem too good to be true but to be honest you're not going to get rich from matched betting through OddsMonkey. You can make a fair few quid if you put the time in. It's not a get rich quick scheme, a scam, or some sort of pyramid scheme.
Unfortunately not as OddsMonkey tends to favour it's free trial promotion so you won't find any OddsMonkey discount codes online (well not that we're aware of anyways). The best bet is to sign up for the free trial, make the up to £63* from free bets, and use that to fund OddsMonkey premium.
You can cancel your Premium subscription from your OddsMonkey dashboard. It's pretty straight forward.
I used to use Profit Accumulator but in 2017 I switched and started using OddsMonkey. OddsMonkey was the original creator behind the software on Profit Accumulator. OddsMonkey then branched out and started selling their own software to people like me and you. They were cheaper than Profit Accumulator when I joined in 2017. All these years later I am happy to stick with OddsMonkey and have zero complaints. Thee is absolutely nothing wrong with Profit Accumulator though (thats based on my experience pre-OddsMonkey). OddsMonkey is also cheaper than Profit Accumulator, being only £24.99 a month or £180 a year compared to Profit Accumulators standard price of £29.99/£49.99 a month or £250.00/£450.00 a year.
Where is the £63* figure from? On 3rd August 2022 the OddsMonkey website stated: "Earn up to £63 now with our free introduction offers".
Where is the 'over £1000' in profit figure from? On 3rd August 2022 the OddsMonkey website stated: "Over £1000 profit in bookmaker & casino sign up offers".
Take part in the discussion
Discussion about OddsMonkey Review article, if you have any questions, comments or thoughts then get leave a reply.
I tried match betting some years ago and was making a few hundred a month but then the bookmakers began to make it awkward to keep using the accounts.
I have used all the bookmakers.
But I am thinking of starting again.
What happens to using the accounts again?
Will I get the offers or will they know I used them before?
Your answer will be of interest.
I wouldn’t recommend doing anything dodgy. Steer clear of any attempts to sign up in your own name again or in any other persons name. Let alone it being dodgy, or possibly even fraudulent, there is the possibility that you lose any money you put in from account freezes or termination. That would suck. So, steer clear.
The best route for matched betting is:
1) Do the new sign up offers
2) Recommend matched betting to friends and family
3) Do the reload offers
4) Do casino and advanced offer types
Hope that helps.
Sounds quite interesting. I note at the start profit is made using opening offers from bookmakers. What is the scope to make profits once these have been exhausted? Look forward to hearing from you.
To start I would steer clear of signing up to online bookmakers and betting exchanges with new names, bank cards, addresses, etc. Definitely don’t want to mess with anything dodgy.
Once you have completed all the sign up offers then you can tackle reload offers, casino offers, and the like. There is still some good money to be made. It definitely helps that once you have turned from being a matched betting beginner and gained some experience that you’ll fly through the process and the rate of return can pick up.
Are there any other options to oddsmonkey and profit accumulator or are these the best two?
There have been and there are probably still some others out there.
OddsMonkey and Profit Accumulator are by far the two most established and popular matched betting services in the UK.
how much can i make from matched betting with oddsmonkey?
My rule of thumb estimate is £50 per hour.
It’s not a get rich quick scheme so you will have to put time and money in to start to see profit while minimising losses from human error.
With OddsMonkey, how quickly can I make £1000 in one month? Should I buy the annual over the monthly after I’ve finished the free trial? Is that worth the extra savings?
It really depends on your starting money. You need seed money to place the initial bets and then wait for the process to deliver returns.
If I had to stick a figure on it I would say it is possible to reach £1,000 in one month by maybe your 4th month of matched betting – that is completely pulled out of thin area and really depends on a lot of factors.
Regardless of how much you can make. If you follow the guides to the letter, put in the time, and minimise human error then you’re in with the best chance of reaching that goal as soon as possible.
Great review. Thanks Dougie.
Just a quick question. Is making money matched betting possible longer term?
It is but after about 6 months once you have burnt through all the new sign up offers then it’s really a case of juggling the more advanced matched betting offers while starting to add in the new non-matched betting offers.
I would say you would get a decent first 6 months, a slightly slower 6 months after that, then it’s definitely less tax-free income after the first year, but it is still worth it.
From my experience it’s about £50 per hour while being tax-free so relatively you’re looking at £50+25% (adjusting for the tax-free nature of the earnings).