We originally reviewed Odds Monkey back in March 2016 when it was just an odds matching tool, but a huge amount has been added to the site since then, so we thought it was high time for an update to look at all the tools now available.
We have tested all the new features for a month and here are the results from our trial:
|Cost:||£15 per month or £150 per year|
|Average number of bets:||Up to 30 per day|
What Does Odds Monkey Offer Now?
Odds Monkey used to be just an odds matching tool. How things have changed!
It is now a comprehensive matched betting package, much like the excellent Profit Accumulator, including pretty much everything you could possibly ask for if you have any interest in free bets and bonuses.
It represents exceptionally good value to get all the different things it offers as part of just one package.
You can go right through from a novice matched bettor right up to a professional here, with all the tools and training included.
When you sign up to Odds Monkey, you will get all of the following included:
- List of New Account Offers
- List of Existing Account Offers
- Odds Matcher
- Betting Calculator
- Racing Matcher
- Each Way Matcher
- Acca Matcher
- Dutching Tool
- Tennis Matcher
We will go through each one of these in turn below together with our overall view of Odds Monkey.
Free Bet Offers for New Accounts
As an Odds Monkey subscriber you get full access to their lists of free bets and offers for opening new accounts various bookmakers.
At the time of writing there are 38 new account offers to take advantage of, with full guides on how to do these offers.
The offers are set out into neat categories such as “bet x get x,” “risk free bet” and “rollover bonus” which helps to differentiate them as these offers are actually quite different when you get down to claiming them
There is a summary for each offer as well, as shown below:
Plus once you have done the offers, you tick them off as completed on the list so you know which ones you’ve done.
The guides are very helpful and everything is set out very clearly.
Free Bet Offers for Existing Bookmaker Accounts
If you already hold accounts with the bookies, then as you know you will sometimes receive free bet offers and bonuses to incentivise you to bet with that bookie.
Odds Monkey includes a list of these offers as well, with a very useful “Daily Offer Calendar” which lists all the offers for the day, together with details of the offers and links through to the bookie’s website.
This calendar will be your meat and drink if you are a regular matched bettor.
There are also lists of casino, games and bingo offers included with the Odds Monkey subscription.
The Odds Matcher
The Odds Matcher is a tool for comparing odds between bookies and betting exchanges such as Betfair to make matched betting easier. It provides a table listing all the best opportunities for selecting the best value matched bets.
When you are doing matched betting, you are looking ideally for bets where the odds with the betting exchanges (e.g. Betfair, Betdaq, Smarkets) are as close to the bookies’ odds as possible.
When the exchange odds are the same as the bookies’ odds (or very close to it), then it allows you to maximise the money you will make from each free bet or bonus offer.
It will also save you time, as otherwise you would have to find all the bets yourself which would be very time-consuming.
Below is a look at the live table for using the Odds Matcher and setting up your matched bets.
In the table above you can see the date and time of the event, the sport, the race or match time and the selection.
Then in red you have the rating, which tells you how much value there is in the bet. The you have the relevant bookmaker and betting exchange and the odds, which you can click through to.
Where the rating is above 100, this means the betting exchange odds are above the bookies’ odds for that selection.
The Betting Calculator
The betting calculator allows you to calculate exactly how much money you need to place on each part of the matched bet and how much you will make, as below:
The Racing Matcher is an amazing tool that looks at each upcoming race, the offers that are available for it and the best odds matches for it.
So for example below, you have the 12.45 at Southwell, with three offers available – £50 free with Bet365, £25 free with Betfred and £25 free with Totesport.
Then you click on one of the offers and it opens up the odds matcher with the best odds available with the exchanges to execute the offer.
This is a nice way of working your way through the racecard in an afternoon and taking advantage of lots of free bet offers.
The Eachway Matcher
The Eachway Matcher allows you to identify value in each-way bets and place them in a risk-free manner.
This occurs when the place odds with the bookie are good enough that you can guarantee a profit whatever happens.
You can generally make £5 – £10 per bet and there are normally multiple opportunities per day. Be careful with these though as the bookies can limit you fairly quickly if you are doing lots of them.
The Acca Matcher
The Acca Matcher is a tool to take advantage of the bookies’ offers on football accumulators. So you can back an accumulator with the bookies and lay each leg on the exchanges and (presuming the odds don’t change dramatically) lock in a profit.
You can generally make around £10 per offer on this and there are normally a few to do each day during the regular football season.
The dutching tool is a means of finding arbs between the bookies. So for example in a football match you would back the home team with one bookie, the draw with another bookie and the away team with another bookie, guaranteeing a profit whatever the outcome.
However, the bookies hate arbers so you would be risking account closures by doing this very often.
There is also a Tennis Matcher with tennis offers and an odds matcher to find you the closest match between the bookies odds and the exchanges.
However, there are not as many tennis offers as racing or football ones and it appears the last ones were during the US Open which was some months ago.
Premium Membership versus Standard Membership
For a fee of £15 per month or £150 per year, you can get premium membership which gives you access to all the above, which is quite amazing. Considering how much money you can make using all the different tools, it is fantastic value.
Standard membership gives you access to a couple of offers and guides as an introduction.
Odds Monkey is a one-stop shop for matched bettors and has a wealth of tools and guides at your disposal.
The claim on their website is that you can make “up to £1500 per month” and whilst we usually dismiss such claims as nonsense, in this case it is actually realistic.
In one month we made just over £1,000, which for a £15 subscription fee is quite amazing.
As with all matched betting, you do have to put the time into it to make it worthwhile and the more time you put in the better you will do.
If you are already a member of a matched betting site like Profit Accumulator, then it is not worth joining Odds Monkey as well as they offer very similar things.
It is also worth bearing in mind that if you are outside the UK and Ireland, Odds Monkey will have limited appeal as you won’t get access to all the free bets and bonuses that we have here.
Overall though Odds Monkey is an excellent product and one we are happy to recommend.
Rating: 5 out of 5
Correct as of 10th January 2017
We have completed our trial of Odds Monkey and here are the final results:
Based on honestbettingreviews.com†:
We conclude that Odds Monkey got the verdict of Passed from honest betting reviews
rating of 5 out of 5 for overall verdict, from 110 independent reviews from honestbettingreviews.com (as of January 2017)