Welcome to our OddsMonkey review - A matched betting service from the team behind the popular oddsmatcher tool that offers the best value package in the industry.
Matched Betting is not a new concept – it’s been around for years and we know that it works. If you haven’t heard of it, it’s basically a risk-free betting strategy that takes advantage of the new customer and on-going promotions that are available at most bookies, whether it be online or in or shops.
Over time there have been tons of services cropping up that aim to teach how matched betting works and provide a current list of offers and how to profit from them.
OddsMonkey originally came about as the provider of an odds matching tool that compares odds between bookies and betting exchanges. The majority of matched betting services use the OddsMonkey software within their sites or have done at one stage, including Profit Maximiser and Clear Bonus Profits.
In 2016, the team decided to branch out and open their own matched betting service that included a collection of revolutionary tools developed in-house. Their aim was to provide a better value service for customers than what was currently on the market, so instead of charging extra for each of the various tools, a subscription to OddsMonkey includes access to them all as standard.
If you’ve ever done any matched betting before, you will probably recognise the OddsMonkey “Oddsmatcher” interface, which is used on no less than 70 other matched betting sites.
A free membership to Oddsmonkey (no payment details required) gives you access to the introductory training guides and shows you how to make approximately £45 risk-free cash to get started with. That's your first three months of membership paid for right away and you will make a lot more than that on top during that time too!
Premium membership costs just £15 per month or you can save money by taking an annual subscription for £150, which works out at £12.50 per month.
We will be going into detail about the wealth of tools that premium membership gives you access to, but first things first… how much money can you expect to make?
How much money can you make with OddsMonkey?
OddsMonkey have stated that £400-£600 profit per month is a realistic expectation, but there are members that make more than £1000 per month. It can vary quite a bit if you factor in casino and bingo offers which have the potential to boost your profits considerably.
After a quick scan through the forum we found various testimonies from members that were making approximately £500 per month before even trying some of the advanced tools such as the Each Way Matcher or Acca Finder, so it’s a case of the more effort you put in, the more money you can make.
The other factor is how big of a bank/float you have available to complete offers. You can start with as little as £100, but a larger bank would allow you to complete more offers simultaneously.
More offers = more profit.
What is included with an OddsMonkey Premium membership?
Tutorial Guides & Support
If you are new to matched betting or even betting in general, the guides that the OddsMonkey team have put together are second to none. They explain the whole process in easy to understand language and there are also video tutorials if you prefer to see how everything works in action.
It doesn’t stop there though – once you have got past the beginner stage there are plenty of advanced guides and strategies in the Training section, such as how to make money from 2nd place refunds, dutching extra place races and tips and tricks like how to preserve your bookie accounts.
If you still need help, you can either visit the community section where you will find the OddsMonkey forum. This is full of advice and support for new and existing customer offers and there is also a dedicated thread for newbies called the “Beginner’s Academy”.
The forum is one of the most active we have seen within a matched betting site and there is a real community feeling about the place.
The team offer customer support via email from 8am – 9pm on a Saturday and 9am – 9pm on all other days.
New Account Offers
This section contains a list of all the up to date bookmaker sign up offers split into various categories, such as beginner, bet X get X, risk free and even offers to avoid. There are separate pages for offers from Bookmakers, Casinos and Bingo sites.
Each offer has been given a star rating on how easy it is to complete – easy, average or hard. We tallied up a total of 63 offers on the Bookmakers page, with the casino and bingo offers still to come.
Clicking on to an offer takes you to a guide detailing step by step how to complete it and includes some of the basic terms and conditions that you need to know, such as how much to deposit, what type of free bet it is and when it will be added.
Some of the offers also have a video guide, but as many of the offers are similar there is no need for a video for all of them.
Once an offer is finished with it can be marked as complete and any profit made can be recorded in the Profit Tracker. This can either be entered manually or logged directly from the Oddsmatcher tool, which takes away any need for spreadsheets as it keeps track of everything for you.
We have estimated that by completing all the bookmaker sign up bonuses listed in this section you could earn in excess of £1000. The bingo/casino offers are harder to predict due to having the element of luck thrown in, but many of the offers listed are risk-free so they are definitely worth taking a look at.
Daily Offer Calendar
The Daily Offer Calendar is the main go to page for advanced OddsMonkey members that have already worked through the sign-up bonuses.
It features a list of all the current offers for existing bookmaker customers available each day, along with further details on how each offer works and the best strategy to use to make money from them. You can then click straight through to the bookie website or follow a link to the corresponding forum thread.
As with the new customer offers, the daily calendar has categorised each offer as either easy, average or hard and you can easily customise the list by selecting which type of offers you want to see.
They can then be sorted by either the most recently updated, start time, offer rating or level of profit.
The Odds Matcher is the main tool for finding suitable bets for matched betting, whether it be qualifying bets or free bets. Without entering any settings, it will pull up a list of bets sorted by their rating, i.e. those with the best bookie odds versus the betting exchange lay odds.
There are a bunch of customisable filters that make it easy to find the type of bets you are looking for.
Filters can then be saved separately by name so that you can switch back and forth between them as needed.
Clicking on the information button on any of the bets takes you to a “Match Information” screen which has a matched betting calculator embedded. Here you can work out the correct stakes to use and log the bet to the Profit Tracker.
There are also links that go straight through to the bookie to place the bet and there is also a handy feature where Betfair can be linked to your account to allow direct betting from the calculator.
It is the original and best odds matching tool on the market, with a clean interface and useful filtering settings, hence why so many other matched betting sites use it.
Every day there are tons of horse racing offers available for existing bookie account holders and it can be easy to lose track of them all. The Racing Matcher was designed to scan through the day’s races and list the bookies that have offers on each race.
Here you can see there are 8 offers on the Plumpton 14:10 race. Clicking on an offer pulls up a list of qualifying bets along with some useful information like the available liquidity and qualifying loss amount.
The example below shows the qualifying bets available for the Paddy Power offer, which is a free bet up to £25 if the horse finishes 2nd, 3rd or 4th to SP favourite.
On a busy day this tool is invaluable as it saves so much time by having everything you need for completing the day’s racing offers in one place.
The Tennis Matcher works in the same way as the Racing Matcher, but it only functions when there is a grand slam tournament running. There are guides available on how the tennis refund offers work as well as an up to date list of retirement rules for different bookmakers.
Each Way Matcher
The Each Way Matcher is designed to find each-way bets for an advanced matched betting strategy which exploiting the way bookies price up their place markets. This is otherwise known as arbitrage betting (or arbing), which guarantees a profit whatever the result of the race. This also works on golf markets but most of the opportunities you will find are for horse racing.
We did a quick scan to find the best bets that were currently available and the tool came up with a total of 82 selections that were guaranteed to make a profit. The downside is you have to be fast putting bets on as odds can change quickly.
Opening the calculator next to the bet tells you exactly what stakes you need to place and has a link going directly to the bookmaker exchange. The strategy is ideal for extracting profit from accounts that have been banned from promotions/free bets (gubbed) and this tool makes it easy.
Extra Place Matcher
The Extra Place Matcher allows you to make a profit from bookies that are paying out extra places on horse races. Again, this is an advanced strategy, so we wouldn’t advise jumping in if you are new to matched betting.
After selecting a race, the tool brings up the back and lay odds for each runner and does all of the calculations for you based on your chosen stake.
As you can see above, you can instantly find out the best runner to back going by the extra place profit or qualifying loss. After you have bet on a horse you can hit the save button which adds a tick next to it so that you can clearly see which runners you have already covered.
On a busy day where more bookies are paying out extra places this has the potential to be a real money spinner.
Dutch betting is an arbitrage strategy where you back corresponding outcomes across 2 or more bookmakers to guarantee a profit. For example, dutching a football match odds market would mean backing Home, Draw and Away at three different bookies.
The Dutch Matcher scans the fixture list for profitable dutch bets and lists them in rating order by default. Clicking on the information button next to each bet brings up the staking calculator and the usual links to the bookmaker websites and log bet button.
Acca Finder / Accumulator Matcher
Our personal favourite OddsMonkey tool is the Acca Finder, which is used for profiting from accumulator promotions at bookies, such as refunds if one leg lets you down or a percentage boost on accumulator winnings.
The main Acca Finder screen shows the best accumulators currently available in order of their expected value using the “lay sequential” strategy.
There are a few different strategies to choose from to suit the level of risk you want to take or the amount of time you want to spend – The No Lay Method, Lay All at The Start, Lay All Sequentially, Lay All Sequentially & Lock in Profit.
The No Lay Method is our favourite as you can simply place the bet and let it run and your funds aren’t tied up in an exchange. On the downside, it is a high variance strategy, so you would need a large betting bank to cope with the swings. You may be wondering why you would need use software for that, but unfortunately you can’t just assemble random teams to the acca; there needs to be value and that’s where the magic lies within this tool.
Laying the accumulator legs off sequentially is a much lower variance strategy that will enable you to make regular small profits.
It doesn’t matter which one you use - if the accumulator has been calculated as having positive EV, you are guaranteed to make a profit in the long term. There are guides for each strategy in the “General Tips & Guides” section.
To search for accumulators for your chosen strategy, you can click on the relevant “Acca Matcher” tool.
After choosing which bookie you want to use, the tool will scan for the best selections to add to the accumulator. You can see that the expected value for the acca above is £3.00 which works out as an ROI of 15%.
Each leg can be swapped for another match with slightly lower value, which can be handy if you want to try and stay under the bookies radar or if the odds of one of the legs have changed.
After placing your bet, the acca can be saved into the “My Saved Accas” section where you can keep track of all your bets in one place. This is particularly useful if you are using a laying strategy as it automatically works out stakes for you based on the outcome you’ve entered for each leg.
The tool shows a breakdown of the profit/loss for every eventuality. In the selection below, if there was one losing leg in the acca we would make a profit of £12.43 from a £20 stake and any other result would give a loss of £3.57.
Calculators and Spreadsheets
OddsMonkey have provided every calculator and you would ever desire for your matched betting, from each-way betting, spread betting and dutching to estimated value for casino offers.
There is also a collection of various spreadsheets to perform calculations or for tracking profit/loss. Some of these are developed by OddsMonkey and some are third party, so it’s handy to have them all in one place to save trawling the net for the one you need.
OddsMonkey gets our top rating of 5 out of 5 stars and we would even go as far as saying it is our favourite matched betting service. It offers excellent value for money and what you see is what you get – there are no add-on charges for extra tools as everything is included as standard with premium membership.
The OddsMonkey team offer fantastic support and have put together a great collection of written and video guides for both beginners and advanced matched bettors.
Having in-house software developers is a big plus and the tools that they have designed are innovative and allow you to profit from the abundance of offers with ease. We are looking forward to seeing what these guys come up with next.
There are so many ways to make a profit with OddsMonkey and it’s the easiest pass rating that we’ve ever had the pleasure of awarding.