Oddsmonkey is one of the UK’s leading matched betting services in 2020 and has thousands of active, satisfied customers.
But how well does their service hold up against the competition? Does it represent good value for money? And can you really make consistent, risk-free profit with matched betting?
Our full, honest review of Oddsmonkey aims to find out!
What is Matched Betting? What is Oddsmonkey?
Matched betting is a technique that anybody can use to make guaranteed profit from bookmaker promotions. It’s not a scam, a fad or even a new concept. It’s a tried and true strategy that’s been around in one form or another for years.
Although anybody can read an online tutorial for free and learn the basics of matched betting, it’s much easier and more profitable if you have the right set of tools and the right training.
That’s where Oddsmonkey comes in. Oddsmonkey is a subscription based matched betting service that provides its customers with everything they need to make serious money from matched betting, including extensive, professionally written tutorials and guides and a wide range of software tools.
Oddsmonkey isn’t the only matched betting service available, but at the time of writing we think it’s the best. Read the rest of our independent Oddsmonkey review to find out why.
Tutorials & Guides
Oddsmonkey’s training materials are second-to-none. Whether you’re an absolute beginner or an experienced matched bettor, you’ll find useful information in Oddsmonkey’s extensive, searchable database of tutorials and guides.
For beginners, there are step-by-step tutorials you can follow to learn the very basics of matched betting and earn your first profits. Information is presented in an easily digested format, with plenty of illustrations, examples and even supporting videos to guide you through the learning process.
For more experienced users, Oddsmonkey offers a wide range of guides on completing more complex offers and employing more advanced strategies like each way betting, early payout offers or spread betting.
Oddsmonkey’s tutorials are regularly updated and expanded by a team of matched betting pros to make sure they’re always up to date with the latest developments and strategies in the ever-changing matched betting business.
As well as tutorials on matched betting strategies and techniques, Oddsmonkey also has extensive documentation on its own range of software and tools. This can be invaluable if you’re new to matched betting or switching from a different service.
The amount of money you can make from matched betting depends on how many bookmaker promotions you can find and take advantage of.
While it’s technically possible for anyone to go out and research for themselves what promotions bookmakers are offering, there are dozens of active bookmakers in the UK and checking each one individually for profitable opportunities would take many hours every day.
Oddsmonkey’s team does this work for you, scouring the internet each day for profitable promotions that bookmakers are offering and collecting them all together for you to browse and simply pick out the offers you want to complete.
Offers for new customers (sign-up offers) are listed on a page of their own and categorised according to the type of offer. At the time of writing, Oddsmonkey has over 50 sign up offers listed, each with detailed instructions on how to complete the offer and some even including a video, taking you through the offer step-by-step.
Oddsmonkey list offers for existing customers (reload offers) in a daily offers calendar. There are dozens of these added every day and, just as with sign-up offers, Oddsmonkey includes instructions on how to complete each one. This is an invaluable time-saving resource for matched bettors of all experience levels.
Finally, Oddsmonkey also maintains a list of ongoing Weekly Bet Club offers. These regular offers are a great way to unlock consistent weekly profits, so it’s handy to have them all gathered together.
One of the key features of the Oddsmonkey service is access to their matched betting oddsmatcher.
For those who aren’t familiar with the term, an oddsmatcher is a matched betting tool that searches through the odds offered by dozens of bookies on thousands of different betting markets and compares them to the odds currently on offer at betting exchanges.
Oddsmatchers allow you to find the best matches to make the most money in a fraction of the time it would take you to do the same work by hand.
There are several other matched betting services who provide oddsmatchers to their customers, but at the moment we think that Oddsmonkey’s is the best on the market.
You can check out our Oddsmatcher Software article if you’d like to read the full lowdown on why we rank Oddsmonkey’s oddsmatcher as the best on the market, but the quick version is that it’s fast, accurate, supports a huge range of bookies, and has more powerful filtering options and other handy features than its competitors’ offerings.
Exchange Integration & 0% Commission
Matched betting can be complicated when you’re just starting out because there are quite a few numbers to juggle. For each matched bet you place, you need to make sure you’re backing the right amount at the right odds and laying the right amount at the right odds, too.
Oddsmonkey’s exchange integration system streamlines this whole process and cuts out fully half of the work, because once you’ve connected your exchange account to your Oddsmonkey account, you’ll be able to lay bets with just one click.
With this system, you don’t need to copy and paste your lay stake or check that exchange odds haven’t moved. Just place your back bet and then click “Lay the bet” from the oddsmatcher. Oddsmonkey does all the rest.
As an extra bonus, Oddsmonkey are currently running a promotion in partnership with smarkets which means that customers who opt in and lay their bets using Oddsmonkey’s smarkets integration pay no commission on their bets.
This is a real game changer that can add up to huge savings on exchange commissions. For serious matched bettors, this benefit alone can be worth more than the cost of Oddsmonkey membership.
Horse Racing Matchers
As well as the standard oddsmatcher that is ideal for the majority of basic matched betting offers, Oddsmonkey has a range of more specialised oddsmatcher tools, each designed to make your matched betting easier and more profitable.
This includes a trio of oddsmatchers specifically for horse racing: the Racing Matcher, the Eachway Matcher and the Extra Place Matcher.
The Racing Matcher is designed to make horse racing reloads easier to complete. It’s calibrated to provide matches for all the horse racing reloads of the day and includes options to filter out individual bookies, individual types of reload or even individual races.
Not interested in second to SP reloads? One click filters them out of your results. Already covered a horse in the 13:45? Deselect that race in the filters panel and you won’t see any more matches for it. These powerful and intuitive filtering options can save you a lot of time and hassle if you’re completing horse racing reloads regularly.
The Eachway Matcher and Extra Place matcher are both designed to help you find matches for each way bets. Though similar, these each have a slightly different purpose: the Eachway matcher is great for finding arbs on each way bets, while the Extra Place matcher helps you find matches on races where bookies are offering to pay out on more than the industry standard number of finishing places.
Many experienced matched bettors consider each way offers to be some of the most profitable and sustainable offers around. Oddsmonkey’s specialised each way oddsmatchers make completing these offers much easier.
Accumulators are another avenue of profit that experienced matched bettors can take advantage of and Oddsmonkey has a range of acca finders to help with this.
There are several different approaches to matched betting with accumulators, such as sequential laying, laying at the start, or not laying at all. Don’t worry if those terms don’t mean anything to you yet - Oddsmonkey has great tutorials on acca betting that make this relatively advanced topic easy to understand.
All of the different acca strategies have their own advantages and disadvantages that Oddsmonkey lays out for you so that you can make an informed decision on the best approach. For each strategy, Oddsmonkey also provides acca matcher software so you can find the best, most profitable matches and easily take advantage of acca promotions.
Oddsmonkey also provides oddsmatchers for more niche matched betting activities, like dutching or tennis betting.
‘Dutching’ is a matched betting technique where instead of backing an outcome at a bookmaker and laying your selection at an exchange, as in a standard matched bet, you cover every eventuality by placing multiple back bets at different bookmakers.
Dutching is a useful tool for a matched bettor in a couple of circumstances, such as when exchange betting rules differ from bookmakers. Oddsmonkey’s software makes it easy to find good matches and, as with their other oddsmatchers, you can fine tune your search by filtering out particular sports, bookies or types of bet.
Sometimes while matched betting you need to place a bet that can’t be found and calculated for you by one of Oddsmonkey’s wide range of oddsmatchers. Whether it’s an in-play bet or an early payout lock-in, there are some things that oddsmatchers just can’t provide.
Thankfully, though, you won’t need to grab a pen and paper or try to make sense of any complicated formulas, because Oddsmonkey provides a really useful collection of manual calculators.
There are more than a dozen calculators in Oddsmonkey’s collection, ranging from common tools like the standard manual back and lay calculator to more niche utilities like the Rule 4 reduction calculator.
These manual calculators might not be Oddsmonkey’s flashiest feature, but tools like the Unwanted Lay Calculator, which tells you how to cancel out a lay bet you’ve placed in error, can be life savers when you need them!
There was a time when getting involved with matched betting meant either keeping a hundred spreadsheets meticulously updated with the fine detail of thousands of bets, or just carrying on in faith that you were making profit overall and hoping you could remember where you’d placed bets recently so you knew where to find your winnings.
Thankfully, Oddsmonkey’s profit tracker feature puts those days firmly in the past. With just a few clicks, this tool allows you to keep a record of every matched bet you place.
The profit tracker is integrated into Oddsmonkey’s oddsmatchers and calculators, so you don’t have to copy details around or enter figures multiple times, just click “Log bet” and you’re done.
The profit tracker automatically tots up your profits and losses to give you a running total of how much you’ve made. If you’re into stats, you can use the profit tracker to take a deep dive into your profit sources and produce helpful charts and illustrations without having to learn a single excel formula!
Casino promotions offer another avenue of potential profit that many matched bettors like to take advantage of. Casino play isn’t technically matched betting and isn’t for everyone, but for those who understand and accept the risks and potential rewards involved, casino offers can provide great long-term profits.
For those who are interested, Oddsmonkey provides extensive training materials and a wide range of casino offers in their Casino Hub section.
Just like matched betting offers, casino offers are divided into new customer offers, reloads, and weekly clubs. You’ll find full instructions on how to complete each and every offer along with estimates of the expected value for each.
Many of Oddsmonkey’s competitors treat their casino sections as separate services with an additional charge for access, so it’s a great selling point of Oddsmonkey’s service as a whole that you get full access to all casino offers in their Casino Hub included in your standard membership fee.
Which brings us to our final section...
How much does Oddsmonkey cost?
Oddsmonkey isn’t a free service, but it is a service that will pay for itself month after month. At the time of writing, Oddsmonkey costs £19.99 per month or £150 for a full year. The annual subscription works out at just £12.50 per month - an amount that you could easily make back by completing just one or two offers per month.
When you factor in full access to the Casino Hub for no extra charge and the 0% commission promotion, which can save regular matched bettors hundreds of pounds in commission fees, we think that Oddsmonkey’s matched betting service represents the best value available on the market at the moment.
To sweeten the deal even further, you can currently get a ten day trial of Oddsmonkey’s full premium service for just £1 by signing up with the code “YESBETS10”.
This means that for just £1, you can get full access to all of Oddsmonkey’s tools, training materials and databases of offers. Ten days is plenty of time to learn the ropes and complete quite a few offers, so why not give it a go and see how much profit you can make? You might find that you can turn that £1 investment into hundreds of pounds of tax-free profit!