OddsMonkey is the original Matched Betting service, but is it the best?
In this OddsMonkey review, we’re going to take a proper look, giving you a detailed and honest opinion. If you’re looking to make money online with matched betting, they’re known as the most used and well-known matched betting service out there.
The premium service isn’t free, although they do have a free trial for first-time users. Completing the trial successfully covers a month’s subscription with little effort, making it a bit of a no-brainer…
What is OddsMonkey?
Launched over 10 years ago, OddsMonkey is a software and information company that helps its users make money online through matched betting.
They provide an end-to-end solution for the 300,000+ people who have signed up for their service. OddsMonkey works by highlighting the best bookmaker offers and promotions, and then sharing various methods and software tools to transform them into withdrawable cash.
They’ve done a great job of designing the site so that anybody can do it. In fact, many of the people who use OddsMonkey were never previously interested in betting.
Inside the premium version, you’ll find hundreds of offers like this…
For each offer, OddsMonkey explains the offer, its terms and how to obtain the most profit without taking unnecessary risks.
The matching software and calculators do all the difficult work for you so it’s often a case of “monkey see, monkey do”. You’re not alone though with a thriving community forum where other users share their experiences, problems and tips.
If you run into a problem, they also have 24/7 help. More on that in a moment…
OddsMonkey Tutorials and Guides:
OddsMonkey also has the best training tutorials that show you how matched betting works. This is important, as most people who come into matched betting don’t actually know anything about betting. That’s the true beauty of matched betting though; you don’t need to know anything about sport or betting when the software does all the work for you. All you need to do is place the bets.
People get really nervous when they are placing their bets for the first time. The Oddmonkey tutorials prepare you well. With its step-by-step video instructions, it’s hard to go wrong, and if you run into an issue there is always the forum. It’s also worth mentioning that OddsMonkey has another tutorial on other advanced methods of matched betting like acca’s and each-way betting, but that’s really only for the advanced bettor.
Features Of OddsMonkey Reviewed:
OddsMonkey has a huge amount of features and helpful software. Some of our highlights are as follows:
- Odds/Price Matcher
The Odds/Price Matcher tool will scan through hundreds of bookmakers to find the best bets you can place. The software is very fast, and you can also customize its settings, allowing you to switch between bookmakers, etc. Ideal for when you have an account closed with one!
The Matcher is considered as the best in the market as it has the most bookmakers available and it’s also very quick and easy to use. How you use the Matcher is simple; you want to place a bet with the bookmaker to get your free bet but you want to find a ‘close match’ with the exchange so it doesn’t cost you much – you simply check the Odds/Price Matcher and have a long list to very close matches!
- New Offers Notifications – Daily Calendar
Most times bookmarkers alert you by email when new offers are available, but it can really be stressful having to sort through hundreds of emails in your inbox trying to decide which bet will be worth it. OddsMonkey does all the work for you, which is very handy. The Daily Calendar will have all the relevant offers each day, with daily reload offers available each day. You’ll see offers like “Bet £50 Get £50” on the latest Premier League match or “Money Back if your horse finishes 2nd, 3rd or 4th” for example. Finding the best offers is easy when they are all listed in one place each day.
- Matched Betting Calculator
OddsMonkey has a simple and trusted calculator. It basically does what it says on the tin, and has everything you need to work out what stakes to use. It’s different to go wrong, even if you’re new. The calculator is very easy to use and the tutorials show you how you can use the calculator in a way that it will guarantee you profits.
- Help and Support
You will find a lot of online resources where people discuss matched betting. OddsMonkey has the largest online forum on the internet, but to be honest it is a little poorly laid out. The site has a large community of users who are always there when you need help one way or another. You will find over a million posts about customer offers which are almost impossible to find in other matched betting forums.
Also, if you need assistance and can’t get the answer you need on the OddsMonkey forum, the service has an active support service. Peole from OddsMonkey review the forum regularly so it’s not often a question isn’t answered. As always with forum, some posters are quite toxic but there isn’t a forum on the internet where that isn’t the case. Their staff is always available, and you can even make a call to them. They understand that they need you to keep using their matched betting services, so they are always ready to give you all the support you need.
- Profit Tracker
Another feature on OddsMonkey is that you can track all your profits made. This tracking helps you monitor your activities when betting, but you can also track in Excel or just not track at all. It depends on what you would like to do. We would recommend tracking, especially as it’s easy to keep note of the bets you place, but it’s up to you.
- Advanced Matched Betting and Casino Offers
OddsMonkey has a whole Casino select which can be used if you like casino betting. Casino offers are a lot more dangerous than sports betting offers because you run the risk of losing. With sports betting, the risk of losing is very low because you lay the bet off on exchanges. You can’t do that with Casino, so these offers are only for the very advanced bettor. OddsMonkey also offers Acca and each way offers, but this is also only for the very advanced bettor. Most matched betting users won’t avail of these services.
New OddsMonkey Feature Upgrades…
Oddsmonkey has developed a distinct tool specifically for taking advantage of Extra Places offered by bookmakers in each way betting markets. This feature is the primary reason many many matched bettors subscribe to their service. The potential earnings from these opportunities are, quite frankly, astounding.
Extra Place races aren’t a daily occurrence; the best opportunities usually emerge during the weekends (or on big racing events). These races are unique. They happen when a bookmaker decides to pay out on an additional place—say, the 5th place instead of the usual 4th. Sometimes, they extend payouts to the 5th, 6th, or even 7th places on races like the Grand National.
By backing a horse each way and laying the same bet, you stand to win a substantial amount if your horse finishes in one of these extra places with OddsMonkey’s Extra Place matcher.
With OddsMonkey’s acca matcher tool, there are several strategies to earn both immediate and sustained profits on your accumulator bets. It uses a simlar algorithm to matched betting although the numbers are a lot more complicated (hence the tool is needed).
Acca offers, much like extra places, aren’t recommended for those new to matched betting – they’re more suited to intermediate matched betting players. With the acca matcher, there are several options to consider.
- Lock in a small profit early on for no risk
- Create a small qualifying loss for a larger potential return
- Take a larger risk in the short term for bigger results long-term (more advanced)
Earning a profit from the get-go is the preferred method of accumulator betting for OddsMonkey users because they offer returns on every bet.
Dutching Search Tool:
Dutching relies on placing a single back and a single lay bet, the idea being you spread several back bets across different bookmakers. We’ve got a full dutching strategy article here.
This strategy can enhance your profile as a casual bettor to several bookies simultaneously and can also facilitate the creation of arbitrage situations. The dutching tool greatly simplifies the process of identifying two or three bookmakers offering closely matched odds, enabling you to lock in a profit or incur a minimal qualifying loss while tackling reload offers.
Betting Exchange Integration – OddsMonkey Reviewed
It’s common for newcomers to feel bewildered by the concept of lay betting, which is completely understandable.
Oddsmonkey’s introduction of exchange integration has simplified and streamlined the entire process. Now, you can lay bets directly and automatically on Smarkets and Betfair through their matching tool. Manually entering data into a calculator for hundreds or even thousands of bets can be quite a laborious task.
This integration means that even for those who know how to compute lay stakes, the need to do so has essentially been eliminated…
When using the various tools you just need to click the ‘open’ tab on the software interface as shown above. A pop-up appears showing all the calculator functions and working.
You only need to enter your back stake in the calculator, which is the amount you wager with the bookmaker. The odds from both the bookmaker and the exchange are pre-filled, sparing you from inputting them manually. From here the OddsMonkey software will place your bet directly onto the selected exchange.
Is Matched Betting A Scam?
This is a common question with a simple answer. Matched Betting and OddsMonkey is not a scam. The site is used by many subscribers all over the world, and many other matched betting sites too. Just because bookmakers offer free bets to sign up new customers doesn’t mean you can’t profit from them. That is all Matched Betting is, profiting from bookmaker-free bets by using an exchange.
Is it a get-rich-quick scheme?
The mistake most people make is thinking they can subscribe to OddsMonkey to get rich quickly. OddsMonkey allows you to make tax-free cash but you do have to place a lot of bets. Usually most matched bettors make between £500 and £2,000 per month depending on how much work they put it. It’s like anything with life; you get out what you put in. All the money you get from matched betting is tax-free because the UK does not tax any profit made from gambling.
How Much Does OddsMonkey Cost?
OddsMonkey comes with three packages, and they include:
- Free Trial (with sign-up)
- Premium Plan – £19.99 per month
- Annual plan – £180.00 per year
The free trial period gives you a chance to see how well OddsMonkey works, and they advertise that you can make up to £45 from your bets on this package and access to an introductory tutorial. The premium packages give you access to over a hundred tutorials, odds matching tools, dutching tools, racing matcher, and daily offer calendar. You also get access to their community and support as a premium member. They have recently increased their prices to the current levels, with no signs of them decreasing their prices back to £17 anytime soon.
Pros and Cons of OddsMonkey
There are a lot of benefits to using OddsMonkey. Some of our top pros are;
- Beginners have access to great offers from matched betting.
- Their prices are reasonable considering how much you can make. Although there are free services out there will a lot of the same tools.
- Premium members have access to more match betting tools including odds matching tool, dutching tools, racing matcher, and daily offer calendar.
- The site is very fast and reliable.
- They have a user-friendly site and tutorials that make matched betting look easy, plus 24/7 help.
There aren’t many cons here. Most of the complaints that customers had previously have been resolved on the forum. For example, they have now included more tutorial videos in the trial version and also provided a better interface for all their users. The developers keep updating the site to change with the times. Our biggest con is sometimes the forum can be hard to follow because of the layout, and perhaps another con is the price considering there are free services out there. But other than that, the pros outweigh the cons.
If you’d like to try OddsMonkey, click here to check their site out.
OddsMonkey Review Conclusion:
At the end of most OddsMonkey reviews, it will suggest using Oddsonkey is definitely worth it. We agree. The free trial is a good starting point, as you can use the site and see how it works for you. Starting your betting journey can be difficult and overwhelming, but the video tutorials make it as easy as possible.
If you are a professional or have some experience in gambling, the premium package will be the best option for you. You’ll get up to speed using their site very quickly and easily. The daily calendar, price matcher and calculator are very easy to use for anyone with any gambling experience.
To be honest, those three tools are the major tools and everything else is just a little added bonus that you probably won’t use anyway. You only want to find the best bets and make a profit. We recommend giving OddsMonkey a try.