LAST UPDATED 3rd January, 2018
OddsMonkey are the new kid on the block when it comes to a full matched betting training package. They’ve got some great features, but can they compete with the other major players in the market?
Ultimately, the answer is yes. Their service is very impressive and compared to the other services they do have some advantages.
The other major player in the matched betting market by the way is Profit Accumulator, Oddsmonkey’s biggest competitor. Both have their own advantages.
£17.99 per month or £150 p.a.
Paying for a matched betting service does have its benefits, OddsMonkey is no exception. There is no doubt that they’ll help you to make money. OddsMonkey has a large selection of training, a decent sized forum, and a good selection of tools (which is their main selling point).
In terms of price comparison, as of the 19th February Oddsmonkey raised their prices to £17.99.This puts them in line with some of their competitors .
Like ourselves, OddsMonkey have broken your training into groups of tutorials, increasing in difficulty step by step.
Matched Betting Introduction
You will learn the basics of matched betting. The concepts of a back bet and lay bet are explained, along with good explanations of a betting exchange. Other basic information is covered, such as how to convert from fractional odds to decimal odds, and how to use their Odds Matching software.
The tutorials are very attractive and high quality. Matched betting is complicated, and when you’re learning how it works, you absolutely must have a step by step video tutorial to take you by the hand, so that you can copy the process step by step. OddsMonkey do have some video tutorials, but they could probably do with expanding their selection just a little bit and going into further depth just to make sure things are crystal clear.
Your initial sign up offers at OddsMonkey are with Coral and Betfred. If you’ve completed our own matched betting training, you will appreciate that these were extremely easy to cash out. After completing these two bookmaker sign up promotions, you are then left to work your way through the rest of the new account offers.
New Account Offers
Having completed two sign up offers in the introduction above, new matched bettors should be ready at this point to crack on with the many sign up promotions. As with our own matched betting tutorials, these start with the easiest offers first, then increase with difficulty until all of the offers are completed.
The layout for the new account promotions sections is extremely similar to the matched betting introduction above. I.e. you can work through the offers one by one, and mark them complete when you have cashed out the bonus.
OddsMonkey have broken down the offers by way of bet type:
- Bet X get X Sign Up Offers
- Risk Free Bet Sign Up Offers
- Rollover Bonus Offers
- Multi Step Offers
- Enhanced Odds
- Mobile Offers
- Other miscellaneous offers
Existing Customer Offer Guides
You will spend a lot of time in this section at OddsMonkey, this is where you will find the regular ongoing offers that will keep your matched betting income flowing. You are able to view this section from two different angles, either from a list of current offers, or via their Daily Offer Calendar.
The Calendar is a fairly simple panel but full of information, but we found the list is much better to use. The offers are highlighted from green, to yellow to red. Green being the easiest of offers to cash out, whilst the red offers take a little more work. Offers with guaranteed profit are highlighted in blue, whilst potential offers are highlight in black.
Other Guides & Tutorials
Casino, Games & Bingo Promotions
The casino and games section follows the same format as what we have covered previously. Each promotion will have clear and concise instructions on how to cash out the potential bonuses one by one.
Here you will find various guides on how to get the most of your bookmaker accounts and exchanges. It will also cover general advice on how to get the most from the tools that OddsMonkey provides.
Advanced Tips & Guides
You can find organised and methodical guidance on many areas including:
- Dealing with account restrictions (gubbings)
- Eachway place matching
- Price boosts
- Tennis retirement and matching rules
- Underlaying / overlaying bets on the exchange
- Extensive coverage on Accumulator bets
- Misc & Extra
Tools & Software
One area that OddsMonkey do excel in is their comprehensive suite of matched betting software. OddsMonkey were the original creators of a very widely used oddsmatching software. Over time, the other matched betting websites have now developed their own competing software suite to rival OddsMonkey’s. Their software is very well built and is reliable. They also seem to be able to develop new software more quickly than other services, probably due to the fact they describe themselves as a ‘crack team of software developers’. This is a plus point about Oddsmonkey, because despite the fact that Profit Accumulator and Oddsmonkey have very similar software offerings, Oddsmonkey are able develop and release new software more quickly due to their in-house expertise.
OddsMonkey offer a very comprehensive oddsmatcher solution. It supports a lot of bookmakers (although some of them are useless for the purpose of matched betting and really do nothing other than “pad out” the list of bookmakers). The software is very reliable and has a broad depth of data.
The odds don’t update on the fly like they do in some other software, so you’ll need to keep refreshing the page to make sure you have the latest odds.
OddsMonkey’s matched betting calculator is pretty much the standard calculator for matched betting these days. It has all of the necesary functionality for basic backing and laying. Simply enter the stake, bookmaker back odds, betting exchange lay odds, and commission, and it tells you how much to lay.
Another tool in the matched betting suite, the Dutch Search. This is a great feature used to find dutch bets.
We won’t cover the Dutching software in detail here, it’s a little complicated – but it simply allows you to place bet slightly different to cover your betting positions in certain markets.
As mentioned earlier in our matched betting tutorials, 2nd placed refunds are one of the greatest sources of income for matched bettors. It’s essential to have a piece of software to help make this easier.
Unfortunately there were no matches available in the Tennis Matcher when we tried to use it (after repeated attempts). Essentially, like the Racing Matcher, the Tennis Matcher is a pre-filtered Oddsmatcher that displays relevant data for specific Tennis matches. It saves you a few clicks.
The advanced calculators are there to help you more unusual cases such as calculating:
- Estimated value (EV) on a games or casino offer
- The Each Way bet calculator – helps you calculate the right stakes on each way bets
- Each Way – Reverse calculator
- Risk Free Equal Profit – to equal out profits on Risk Free bets.
When OddsMonkey started their full matched betting service, they used the same forum technology that other matched betting websites have been using for a long time. The software (NodeBB) is very user friendly, attractive, and a great place for on-the-fly discussions.
Ben’s Matched Betting Diary
Ben’s matched betting diary is a great addition to help you understand where the long term value in matched betting is. Ben’s diary would be a good place to start looking at how profits can be generated on a regular basis.
You don’t even need to be an OddsMonkey member to read this, so it’s win win.
Summary of the OddsMonkey
- Incredible selection of software, probably the best out there
- Professional service with an attractive website
- New free bet offers can sometimes be slow to be added to the site
- Their forum is less active than the one on Profit Accumulator. That means less knowledge to help you make profits, and fewer people around to answer your questions.
In conclusion, our view is that both Profit Accumulator and OddsMonkey are perfectly suitable for your choice of matched betting service. I would actually recommend that you sign up to both services. OddsMonkey for its slightly superior suite of software, and Profit Accumulator for its slightly better selection of offers and busier forum. For the sheer amount of money these websites can make you, the extra £17.99 is really a drop in the ocean. All it takes is one extra free-bet to make that back.
We would recommend trialing both services, Profit Accumulator as well as Oddsmonkey.
Affiliate disclosure: Some of the links on this site are affiliated with the companies I’m reviewing, which means that I may earn a commission if you click on the link or make a purchase using the link. It’s how I manage to keep the site running. Rest assured though, I only promote and products that I have used myself and I personally recommend.