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 no; we don’t think they can. OddsMonkey have some nice features, but ultimately we cannot recommend their service, for reasons which we’ll explain below. We’ll fully explain the pros and cons of their service.
The most popular Matched Betting service on the web is Profit Accumulator, and we recommend them wholeheartedly. Read on to find out why.
£14.99 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).
At their yearly rate, they are the same price as Profit Accumulator. On the monthly plan, they are £3 cheaper. This is definitely a good thing; but for the sake of £3 per month, when we’re talking about making hundreds (or thousands) of pounds, I’d rather pay a little extra to make sure I’m getting the best service possible.
But don’t forget, if you’re going to be operating matched betting at a professional level, please take your time to check out our matched betting spreadsheet which will help you track your profits through your journey.
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.
Unfortunately, they let themselves down massively with their video tutorial library. 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 video step by step. OddsMonkey do have some video tutorials, but their selection is lacking when compared to Profit Accumulator. They have fewer video tutorials, and they’re generally not as long or in depth as the ones on Profit Accumulator.
Your initial sign up offers at OddsMonkey are with Coral and SkyBet. 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
Unfortunately, (and this is a major problem)… their selection of signup offers is woefully incomplete. At the time of writing this, OddsMonkey have 41 “new account offers” on their website. Profit Accumulator have 54. That’s a huge amount of lost profit if you were using OddsMonkey. When you’re paying for a Matched Betting service, you expect them to do all the work for you and find all of the offers worth doing. Why does Profit Accumulator consistently have more offers available than OddsMonkey?
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 in practically 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.
Like the above section, their selection of reload offers always seems to fall far short of what’s actually available. When we checked, there were 87 offers available in OddsMonkey’s “Existing Customer Offers” section, compared with 150 on Profit Accumulator. Again, that’s an unacceptable amount of missed-out profit for OddsMonkey subscribers. Missed offers is missed profits. This alone is worth subscribing to Profit Accumulator instead.
OddsMonkey are not winning any awards for their grammar or in-depth instructions, either. The instructions here just aren’t good enough.
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
Perhaps the USP for OddsMonkey is their broad 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. They used to be king in this area, but there’s definitely a lot more competition popping up to prove otherwise.
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 Profit Accumulator’s new beta oddsmatcher, so you’ll need to keep refreshing the page to make sure you have the latest odds. The odds are generally fairly accurate, usually updating within a few minutes of changing on the bookmaker website.
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.
The Racing Matcher tries to fill this niche; but it’s not a perfect solution. It’s essentially their oddsmatcher, but pre-filtered for particular races / bookies. It displays the lay stake and the qualifying loss for you without the need for a separate calculator, but it doesn’t offer any improvements in terms of speed. This is a significant problem. Horse racing odds move very quickly; so you need a solution that updates rapidly. Unfortunately, the update speeds offered by this software do not come close to the speeds offered by Profit Accumulator’s “Match Catcher” software.
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.
OddsMonkey has 5 Advanced Calculators. Profit Accumulator has 9.
When OddsMonkey started their full Matched Betting service, they used the same forum technology that Profit Accumulator had been using for a long time. The software (NodeBB) is very user friendly, attractive, and a great place for on-the-fly discussions.
OddsMonkey’s forum is less active than Profit Accumulator’s (which makes sense, since Profit Accumulator are the most popular matched betting service out there). It’s doing its best to catch up though, and has certainly picked up in how busy it is over recent months.
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
- Good selection of software
- Professional service with an attractive website
- They miss out quite a large number of reload and signup offers. That means lost profits for you as a member. This is the most critical component of a matched betting service, so major points lost here.
- 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.
- Their Racing Matcher is not quick enough to keep up with the rapid pace of horse racing refunds.
- Their oddsmatcher odds do not update on the fly.
- Their video library is smaller.
- No Profit Tracker software
In conclusion, our personal view is that we would NOT recommend OddsMonkey. They have a great looking website, a low monthly price point and a loveable brand, but for us, their offering just doesn’t do what it needs to compared to what else is out there.
Instead, we highly recommend that you give Profit Accumulator a try instead. They have a free trial that you can use to get a feel for the service and for matched betting in general, and if you do go for a paid membership, they have a 30 day money back guarantee.
Comparing the monthly subscription of £17.99 to the extra profits you can make by having their training and software, the decision is a no brainer.