Okay so lets properly start this project with something I know has the potential to generate a nice amount of money each month and that’s Matched Betting.

Before I go any further I have to say if you’ve had a previous gambling problem or have an addictive personality (any problems with alcohol addiction for example) I wouldn’t recommend looking at Matched Betting as it exposes you to bookmakers and slots and we all know how easy it is to get addicted to gambling.

This being said I can take or leave gambling and kind of don’t get the excitement and adrenaline others seem to get from it so I think I’m OK. I’ve also dabbled with it before and had absolutely no problem walking away.

For this post I’ll leave it as saying Matched Betting is the process of converting bookmakers free bet offers into cash – it’s done by matching one bet against another so you bet on both potential outcomes (an event happens or it doesn’t or to put it another way your favourite football team wins or it doesn’t). With matched betting you bet on both of those outcomes and you can do this using a betting exchange.

For a more detailed guide I’ll leave you in the capable hands of Team Profit who have full guides on how to take advantage of the welcome offers through to how to making £1,000 a month from matched betting.

Which brings me to the main point of this post – my £500 a month matched betting experiment. At this point I’m not aiming for a £1,000 but that’s because with a full time job I don’t think I’ll have the time (according to the guide you need between 25 and 30 hours a week for this) and £500 seems to me to be a bit more achievable (up to 8 hours). That’s not to say I won’t run a one off experiment every now and again 😉

I’m not expecting to make £500 in the first month (for a start February is almost over!) but also it will take a bit of time to learn so I’m hoping will increase our income month by month and hopefully by May will be consistently at £500 a month.

Each month I will post a dedicated update to see I’m doing and I’d love to know how well you’re doing in the comments – on this note if you want to have a go yourself here is the guide I’m following from Team Profit.