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Side Hustles How to Make Extra Money Online Hayden Vernon Copyright © 2020 Hayden Vernon All rights reserved No part of this book may be reproduced, or stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without express written permission of the publisher. Book cover illustration by Owain Anderson. Contents Title Page Copyright Chapter One Chapter Two Chapter Three Chapter Four Chapter Five Chapter Six Chapter Seven About The Author Chapter One INTRODUCTION There has never been a better time to take on a side hustle. As I write this, the world is in the grip of a pandemic that has frozen the global economy and put an unprecedented number of people out of work. Across the world people have been laid-off, or put on furlough schemes that pay reduced wages, as lockdowns designed to limit the spread of coronavirus are enforced. The forecast has not looked so bleak for the global economy since the Great Depression took hold in 1929. During that time, worldwide gross domestic product (GDP) fell by an estimated 15 per cent from the start of the depression to 1932 – and millions lost their incomes. Things are not that bad for us yet and governments are working hard to limit the damage of the pending recession we are facing, but the fact remains that the gloomy economic outlook means that now is a good time to think about ways of making some extra cash. With so many jobs under threat because of the coronavirus pandemic, many people are turning to the internet to make a second income and take on a side hustle. Luckily for us, the internet has spawned an abundance of ways to make cash legally, for those with the knowhow. Side hustles can take many forms, from selling things on eBay to taking on a second job in the gig economy such as driving for Uber or renting a room on AirBnB. While not without problems, the latter two can be great, flexible ways of earning money, but not everyone has a spare room to rent out or a car to drive. Instead, I will focus on ways of making cash online that do not require much besides a computer with an internet connection, some time to spare and a little bit of knowledge. You should already have the first two – and the third is where this book comes in. It is possible to make a second income from the comfort of your sofa if you know where to look. This book will take you through the various online money-making hacks that I have personally put to the test. As a journalist for Vice.com, I have written a series of articles over the last couple of years about my attempts at making money on the internet and I want to share what I have learnt during that time. Growing up, I was never that bothered about earning lots of money or getting rich – not because we were financially comfortable, but the opposite. My mum had me at the age of 18 and my dad bolted before I was born. We spent the first part of my life living in a bedsit, before moving into private rentals and eventually a council flat. Things were often tight, though not as bad as some had it, and we managed with what we had. You often hear of rags-to-riches stories of entrepreneurs who started with nothing or Del Boy-types pulling themselves up by their bootstraps, but I grew up used to not having a lot of money to spare and I assumed things would always be that way. My mindset changed a couple of years ago, when I started to realise that while having money would not necessarily make me happy, it could help stop that nagging anxiety in the pit of my stomach that I had grown so familiar with. You might know it – the one that starts building when an official-looking letter comes through the door, or when the rent is due but your bank account is empty. That feeling is what made me want to hunt down and write about ways of making extra cash online. I was terrible with money before I started writing about it, but since the series began back in 2018 I have made enough to pay off my long-standing student overdraft and save money on top of it. Not enough for a deposit on a mortgage where I live, at least not yet anyway, but enough to keep that anxiety in check. There have been ups as well as downs, but crucially I have more money now than I started with – and even my failed efforts at earning cash have taught me valuable lessons. I don’t want to be yet another internet bullshitter, promising money for nothing or “six steps to becoming a multimillionaire”, there are enough of those out there already. If it was that easy to get rich quickly we would all be loaded by now. Instead, I will delve into both the good and bad aspects of making money on the internet, so that you can learn solid ways of earning a second income online and steer clear of the rest. The internet can feel a bit like the Wild West at times. Wherever there is legitimate money to be made, inevitably there are scammers trying to cash in as well. It is important to be able to spot the difference between what might be a potentially lucrative way of making money and a scam that may end up costing you. During my time researching and writing about money for Vice, I have encountered my fair share of scams and risky ventures. The truth is that it comes with the territory when you are looking for ways to make cash on the internet. I will highlight any of the scams or cons that I encountered for each money- making method covered in this book, but you should also practice caution and healthy scepticism whenever someone is promising you money for nothing online. Remember: if it sounds too good to be true, it probably is. I have stood by that over the last couple of years and it has steered me past the many scams that are out there and into profit. Despite my cautious tone – there really is lots of money out there to be made and each chapter in this book will consider the pros and cons of a different method for boosting your bank balance. The first chapter will look at the “matched betting” phenomenon, where with a bit of knowhow it is possible to profit from bookmakers with risk-free sports bets and sign up offers. Matched betting has grown into its own little industry within the gambling industry and I will show you how to profit from it step-by-step. I will also talk you through how it is still possible to make money on it, even at a time when so many sports are out of action because of the pandemic. Next we will look at profiting from online casino, bingo and poker offers. This is similar to matched betting, but in some ways even easier – and unlike the live sport needed for matched betting, online casinos are completely unaffected by coronavirus. The following chapter will look at the world of forex trading, which is touted as a get-rich-quick-scheme across the internet. The foreign exchange market is the world’s biggest financial market and anyone can trade pairs of currencies on it using a computer or smartphone. It is an accessible way into trading, but it also has a dark underbelly, rife with hustlers and scams. In the next chapter we will look at ‘comping’, the art of entering loads of online competitions with the chance of winning big prizes, and ‘clickworking’, where you can make some good cash from completing small tasks online. The former is not a reliable way of making cash, but it does offer you a chance of winning large cash amounts or expensive prizes. Clickworking is a more reliable – but also more time consuming – way of generating an income. In the last chapter we will look at the ‘financial independence, retire early’ movement, a group of money-savvy savers who have great ideas not only for making cash online, but also how to invest your money and make it work for you. Fire will give you the tools to help you save invest and grow an online income once you have begun earning it. Taken together, these chapters will give you everything you need to start earning cash online, both during the pandemic and in normal times. How many of them you try and how much money you make is in your hands. A final note on this book before we get into it – while there are opportunities to make money online across the world, laws and regulations vary greatly from country-to-country. What is perfectly legal in western Europe might be off-limits elsewhere. Similarly, just because a method works in one place, does not mean it will work everywhere. I am based in the UK and as such this book is written off the back of my experiences of making money online in the UK. Although most of the websites I talk about can be accessed across the world, it is important to know the law for the jurisdiction you are in. There is no point earning lots of cash online, only to have it confiscated because you broke some local law you were not aware of. That also extends to using a virtual private network (VPN) to make it look like you are based somewhere in the world when you are not. If you are a reader from outside of the UK, I hope there are general lessons about making money online that you can take from this book, but please check that what you are doing is legal and viable in your country before committing to anything. Now, let’s make some money. Chapter Two Matched Betting Here is something you won’t hear people admit often: I’m a terrible gambler. It’s true. Even when the odds look good, I still manage to get it wrong. If I bet red, black comes up. If I bet on the favourite to win, expect an upset. The thing is, I’m not just unlucky, this is the case for almost everybody. There is a reason bookmakers and casinos make so much money: the odds are stacked in favour of the house. Britain’s gambling companies took £14.5 billion from punters in 2018 alone. That is the equivalent of the GDP of many small countries, so they must be doing something right. The house always wins. That old cliche is true, well, sort of. There is actually one way to buck the odds and extract money from these profit-making powerhouses: matched betting. When I first heard about matched betting I was researching ideas for easy ways to make money online as I began my series of articles for Vice. As I looked around the web for ways to make cash, matched betting kept cropping up. I was pretty sceptical at first. It seemed too good to be legitimate, so I assumed it was a scam, but the more I read up on it, the more it made sense. Matched betting is a process that allows people to make a guaranteed profit from bookmakers, taking advantage of ‘free bet’ offers using a system of placing more than one bet to minimise risk and ensure that any losses are covered, regardless of the outcome. If that sounds confusing, don’t worry. It was to me at first as well. I will talk you through the ins and outs of it in this chapter – and once you get your head around it, it can prove to be very lucrative. Matched betting is not a new phenomenon. It has been around since the early 2000s, springing up with the rise of the online bookmakers in the UK. Bookmakers started offering free bets as a way to compete with each other and stand out in a crowded marketplace. Britain has some of the most liberal gambling laws in the world, which is why there are so many online bookmakers vying for your cash. Currently that amounts to around 80 different bookies operating in the UK, with more joining the battle for punters all the time. They all offer essentially the same product – albeit with different logos and website designs – so one way of standing out from the other bookies is to entice customers with free bet offers. While just signing up and trying your luck with these free bet offers could net you some money, profit is not guaranteed as you would still need to bet on the correct outcome, for example on the result of a football match, to take any winnings. But what someone far smarter than me realised a few years ago is that there is a way to turn these free bets to your advantage and make money from them without gambling in the true sense of the word, i.e without risking any money and actually guaranteeing a profit. Since then, matched betting has grown and grown and has found its way into places as diverse as broadsheet newspapers and online forums such as Mumsnet, touted as a money spinning free-for-all. So, how does the matched betting system work? The process is simple, but you need to understand the key concepts underpinning it before putting it into practice. The way you make money is by signing up to bookmakers to take advantage of free bet offers. That’s the bit you guessed already, but as I said before, there is no way of guaranteeing a profit from these by simply staking them and hoping for the best. To get around this we use something called a betting exchange. Betting exchanges, such as Betfair and Smarkets, act as marketplaces between bettors. They are similar to standard bookmakers but they allow members to bet against each other rather than against the bookmaker. This means you can not only bet for a certain result, but also bet against a result happening. This is called a ‘lay’ bet and it is how we turn those free bets into profit. By ‘laying’ the right amount against your free bet, you guarantee a profit regardless of the result. This back and lay betting technique allows you to make a profit on free bets and typically you will end up with around 80 per cent of the free bet amount as profit if you do it correctly. One question that comes up a lot is, ‘why do the bookies allow matched betting if it can guarantee winnings for punters?’. I have asked a number of bookmakers but they have all stayed tight lipped about it, refusing to give an answer on the record. However, one insider I spoke to says he thinks matched betting just does not hit their profits enough for them to worry about it – and besides, there is not a lot they could do about it even if they wanted to, because free bet offers are so vital in attracting new customers. Let’s look at an example. Say a bookmaker is offering a £20 free sports bet when you first sign up – this a fairly standard offer that you will come across regularly. To guarantee some profit from that offer you need to sign up to that bookmaker and then to a betting exchange such as Betfair or Smarkets to ‘match’ your bets. Usually you have to deposit and stake a bit of your own cash at each bookmaker to get the free bet to begin with, but by laying this as well you can limit your initial loss and guarantee an overall profit. After signing up you need to find a game to bet on, I always stuck to football but you can choose other sports. When considering a game to bet on, it is important to take note of the minimum odds in the terms and conditions of the offer, which vary from bookmaker-to-bookmaker. To both make sure you are meeting the odds requirements and to make things easier down the line, you should set the odds to display as ‘decimal’ on the bookmaker. If you cannot find where to do this, you can usually find out by Googling the name of the bookie and ‘decimal odds’. Once you have done that, start looking for a game to bet on. When you are betting your deposit, you want to find a game that has the closest odds in both the bookmaker and the exchange, as this will limit the amount it eats into your profit. You can use software such as OddsMatcher to help you with this. OddsMatcher, which has both paid and free to access versions, automatically trawls bookmakers and exchanges for optimal odds. This can take some of the pain out of looking for suitable fixtures to bet on. It is important to get this right – you will make a small loss on your initial deposit with the bookmaker and although the free bet amount will more than cover this, it is still worth minimising this as much as possible. Once you have found a suitable game to place your bet on, you need to use an online matched betting calculator (there are loads of free ones out there, use Google to find one) to double check that you have everything right. Simply set the calculator to ‘normal’ mode and check that you are losing just a small percentage of your deposit before betting on your chosen game. After you have placed your bet on a certain result – in the case of football this is usually a home win, away win, or a draw – you need to ‘lay’ (bet against) that result happening in the betting exchange. For example, if you bet for a home win with the bookmaker, this means you are betting for a draw or away win to be the outcome with the betting exchange by ‘laying’ this result. Once you have bet through your initial deposit, you can claim the free bet. This is where the profit starts. A £20 free bet will usually be given as 4 x £5 free bets, so simply place them on the same event as separate bets. We need to find another game to bet on, but this time it is worth picking odds greater than 3.0 to maximise your profit. Just bear in mind that the higher they are, the more you will need to have in your betting exchange account to ‘lay’ against it, because higher odds mean higher liabilities (the amount of money we put up against the bet). Using the same calculator that you used in the previous step, but this time set to ‘free bet’, we can see how much money we retain from the free bet depending on the odds of your chosen game. Again, by using software such as OddMatcher you can look for games with the best odds for retaining free bet amounts and maximise your profit. Once you have placed your bet with the bookmakers, you again need to lay the result with the betting exchange and then that’s it! You are guaranteed a profit and it is time to cash out. Where the money goes for withdrawal will depend on the result of the match – if your bookmaker bet wins then your winnings will need to be taken out from the bookie, but if the lay bet wins, your winnings will be with the exchange. My first matched bet was on a similar £20 offer. It took me around 20 minutes to complete (as well as some time to understand the matched betting basics) and I earned £16 from it. While that does not sound like a great deal of money, remember there are loads of bookmakers out there offering similar free bets to try and draw new customers in. It is your job to hunt these offers down and make them work for you. And if that sounds too much like hard work? Well you might still be in luck. A miniature industry has sprung up to capitalise on the money available through matched betting over the last decade or so, usually in the form of products offering advice and software to help people extract profit from bookmakers. Companies like Profit Accumulator and its main rival OddsMonkey offer subscription services that take the pain out of finding your own matched betting offers and organise everything for you. Keeping track of offers, free bets and withdrawals can be a messy business and these services are useful for helping keep things in check. They also offer matched betting guides and information on all the offers out there. They are useful services and as such they charge monthly fees. These are usually fairly insubstantial – anywhere between £10-20 per month – though they can eat into your profits if you stay subscribed over multiple months. It is worth looking at Profit Accumulator even if you are not interested in signing up, as they will take you through a couple of offers step-by-step for free, which can be great for learning the basics and getting used to matched betting. A bit like the bookmakers, matched betting companies often run offers for new subscribers, such as free trials and cheap introductory rates. Looking out for these can be a great way of accessing their resources at a discount or even for free. After my first week or so of matched betting, I chose to subscribe to a matched betting service for two reasons: laziness and human error. At first, I just created a spreadsheet to keep track of my bets, lays, deposits and winnings and thought this was enough to keep me organised. I was wrong. As my free bets snowballed I lost track of where I put money and the sheer number of offers I was doing at one time resulted in me making an error. Somehow I bet for, instead of laying against, a game at the exchange and I had to ‘cash out’ both of my bets to avoid the chances of a big loss. As I have said, laying games at high odds requires putting up a large ‘liability’. This is fine if you are guaranteed a profit, but can result in losses if you do not do it correctly. Mistakes like this are common for beginners, but it does not make it any less galling when you are on the end of one. While matched betting technically guarantees a profit, it does not account for human error and anything you can do to limit the chances of this happening means you stand to make more money. While signing up to matched betting services does not make your chances of mistake zero, they do offer ways of keeping track of each offer you do that can keep you organised. A Profit Accumulator insider I spoke to estimated that there are around 40,000 people actively matched betting in the UK at the moment. Bettors are split fairly evenly between those that do it off their own back, finding offers and using free services to make a return, and lazier people who pay companies to do some of the legwork. I definitely fell into the latter category and I stumped up the £17 monthly fee to access the ‘premium’ area of Profit Accumulator’s website. While there is a lot of information available online for free to those who are patient enough to look for it, I found paying a relatively small sum (when not over multiple months) was a quick and easy way of getting a good matched betting resource without eating into my profit too much. But I don’t want to sound like a shill for these matched betting companies: if you have the organisational and research skills to go it alone, you absolutely can. You can even do a bit of both, using the services at first to learn the tricks of the trade, then going it alone when you are more seasoned. So now that you know the basics you are ready to get started as one of the few people smart enough to actually extract profit from the bookmakers. You just need to decide how far you want to take it. Some people treat matched betting almost as a full-time job, sitting for hours finding the best offers and turning out results, but most just put in an hour of two a week and make some decent cash on the side. Regardless of how much time you put into it, it is worth being as organised as possible – set time aside for it and realise that it is not simply money for nothing. It still requires you to use your concentration and organisational skills. The fact is, although matched betting is profitable, it can also be quite boring. The further I got into it, the more it felt like an actual job as I sat for hours on my laptop: filling out details, depositing money, finding bets, laying them and keeping track of it all in my spreadsheet. It is important to remember to just plough through and think of the profits! As you get through the more well known bookmakers’ offers and start signing up to some of the lesser known ones from the 80-or-so out there, hurdles will likely crop up that you did not expect or encounter at first. Each bookie has different verification processes for withdrawal and you will need to have your email address, phone numbers, copies of bills, bank statements, credit and ID cards to hand. Bet Regal, a particularly dodgy bookie that I tried an offer with required “a copy of your identification complete with an official stamp (round & red) and a signature of your legal representative”. This made it impossible to get my winnings back. Although rare, things like this do happen. To help avoid situations like this, become familiar with the forums of matched betting companies for each offer you attempt. Other bettors would have attempted the offer before you and their experiences can be helpful. Another thing you might start to notice is the issue of money management – both withdrawing your profit and keeping enough in the betting exchange to cover your liabilities. At times, your original investment will likely be tied up between accounts, or in lengthy withdrawals from bookies, so be aware that you may need to wait a few days for profits to materialise. The Profit Accumulator insider I spoke to, who is a matched bettor himself, says he likes to think of matched betting as an investment – the more money you start with in the exchange to cover your liabilities, the quicker you will make returns. Most bettors invest between £200-£500 at first, but once profits start mounting these can be reinvested and act as the required liabilities as things start to snowball. It is also possible, though more difficult, to start with less money. There are people who start with as little as £40 and build slowly. If you do not have a timeframe for making money, you can start with a small principal amount, withdrawing and reinvesting it each time until the profit builds up to a lump sum. Just do not expect quick returns this way - it requires discipline and patience to build a small amount into a good sized profit. Once you have completed the sign up offers for each of the 80-odd bookmakers – no mean feat, but worth at least £1000 and probably a lot more than that – you may be thinking that your matched betting career is coming to an end. This is where reload offers come in. Reload offers are the ongoing promotions and bonuses that bookies use to retain existing customers and tempt them into playing. A reload offer is any promotion that is open to current members, excluding new members. There are a whole heap of them available between all the bookies you would have registered with when completing the sign up offers and this is where long-term profit is made. While the sign up offers are great for beginners, and will be enough to keep you occupied and profiting for a long time, reload offers make it possible to keep extracting money from the bookies. For now, it is enough to concentrate on sign up offers, but be aware that matched betting does not stop there. It is possible to keep matched betting perpetually once the sign up offers are finished. *** You might be asking yourself, reasonably, how matched betting works under the current restrictions brought about because of the coronavirus pandemic. At the time of writing, almost all live sport in western Europe and much of the rest of the world is currently on hiatus. This has definitely hit the number of games available to bet on. However, it is important to remember that bookmakers are still desperate for new customers and most of their offers still apply. Despite the lack of sport, there are still plenty of offers out there and random leagues, such as the Belarussian Premier League, are still running. Bookies are focusing on these for now, with an eye on professional sports starting up again soon. There is a lot of financial pressure on the big football leagues to start playing again, even behind closed doors away from fans, and as soon as this happens expect lots of free bet offers and a resumption of business as usual for matched betting. Until then, complete offers on the games that are still taking place. Matched betting is an ongoing battle between bookies and smart bettors and while coronavirus has hit bettors, it has also taken business from the bookies. This is good news for matched betting: when bookies are desperate for customers, they rely on offering more promotions to attract them. Although at the moment there are less of these offers for live sports (but still enough to keep us interested), almost all the online bookmakers also have separate casino, bingo and poker operations and we are seeing increased offers for all of these. In the next chapter I will talk you through how to profit from them. Chapter Three Online casinos, bingo and poker Like sports betting, online casinos are big business. A recent UK study found that around 17 per cent of the population gamble online. The house almost always wins, remember, and last year this resulted in £5.3 billion revenue for gambling companies in the online market alone. But in a similar way to matched betting, there are ways you can fight back and actually make money from the casinos by using similar strategies to the ones we looked at in the last chapter to take advantage of casino bonuses as well. I learnt about casino, bingo and poker bonuses the deeper I got into matched betting. As I was writing my first money article for Vice, I wanted to find ways of banking cash quickly – my hope was to make a good amount in a short space of time to give the article a bigger sell. Although matched betting on sports games is a great way of making cash, it can take a while for profits to clear and make it back into your bank account. I quickly boosted my profits through various other online gambling offers and made around £1000 in just a couple of months of doing this on the side of a full-time job. Depending on how seriously you take it, you can easily make more than this. Like the bookies, the UK’s liberal gambling laws have spawned an array of competing online casinos and they all use offers to stand out and lure potential customers onto their platforms. These offers are great news for us because we can use them to turn a profit. Unlike matching free bets on sports games, making money from casino offers does not require a one- size-fits-all strategy. Obviously you cannot lay, or bet against your casino game bets at a betting exchange, so we need different tactics. Because these offers take various forms, the ways of profiting from each can vary greatly, from sign up bonuses at casinos to free spins on slot machines and even complimentary bingo tickets. All of these can make you risk-free money if you know how and a lot of people actually prefer online casino and bingo offers to regular matched betting once they start them. These offers are often quicker, simpler and they can be more profitable as well. They are also a lot more exciting, because with many casino offers you have the potential to win a lot more money – and who doesn’t want the chance to play risk-free roulette or cash-in with free spins on a slot machine? Because of the nature of casino offers, profit is not always guaranteed, but most offers are risk-free. This means that while you may not hit it big, you also don’t stand to lose anything, so it is usually worth trying – and the more risk-free offers you try, the higher your chances are of hitting a winner. Take this example. An old offer used to give a quick £5 refund on digital scratchcards. The idea was simple - spend a fiver on a scratchcard and if you did not win, the company would refund your money as withdrawable cash. The company hoped punters would keep spending the refunded money in the event the scratchcard was a loser, but avoiding this meant it was impossible to lose money. If you won, you might get ten or twenty quid, or even hit the jackpot and take thousands. So despite no guaranteed win, it was still good value because it was free. Although that offer does not exist anymore, many more like it do. The basic idea behind making risk-free casino offers work for you is to find and complete as many of these as possible and hope you come up with some winners. The more you try, the better your chances. The same companies that are set up to help sports matched bettors, like Profit Accumulator, OddsMonkey and ProfitNinja also operate in the casino, bingo and poker fields and most have a dedicated part of their website to help their subscribers with these types of offers. As with sports betting, I did pay to access help to get started with these offers when I was first writing about it. If you can afford to take a small hit to your profit too, then it is probably worth it until you have fully learnt the ropes. The companies tend to list the offers for each casino and also offer tailored instructions for each offer. This can be really useful as the process for getting money from each can vary so much. However, as with sports betting, there is some free information available on the internet about how to take advantage of casino offers. Using those resources along with this chapter as a guide can definitely give you enough to get started independently without paying for a subscription to these sites. The further you get into casino and gambling offers, you may also start to see offers that are not risk- free but classed as low-risk. This is a step up from the guaranteed profits of sports matched betting, but once you are comfortable with it, it is a great way to earn money. The way low-risk offers work for us is that instead of being a complete refund on any money you put in, like in the scratchcard example above, they usually rely on discounted prices – such as on bingo tickets or spins on slot games. While this sounds scary at first, especially when compared to risk free offers, we can actually take advantage of the favourable odds that these discounts provide to turn a profit. If a spin on a slot machine usually costs £2 a go and the odds are that the average punter loses 50p per play, then it would be crazy to play at that price, with the average cost being £1.50 a go, even if we win sometimes. But if a discount on the same game provides a ticket for £1 now, with the same odds, then that is excellent news for us. We might not win every time, but the odds are that we will make on average 50p each time we spend £1 to play. That's the principle behind low-risk offers. You risk a small amount of money at first, but it is almost mathematically certain that you will make a profit if you play through enough of these offers.

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