You may have read about matched betting in the UK and Australia and are wondering whether it’s possible to do matched betting New Zealand?
Well, the answer is YES! It is absolutely possible to profit from matched betting in NZ and in this guide, I will show you how to do it!
I have written a detailed guide to getting started with matched betting in Australia and thankfully most of these points apply to New Zealand too, so this article will serve as a condensed version, adapted for New Zealand! If you want more detail, refer to the full guide!
What is Matched Betting in New Zealand?
In a nutshell, matched betting basically involves betting on all possible outcomes of a sporting match to ensure that we profit regardless of which outcome occurs.
We make a profit doing this by taking advantage of the bookmaker promotions.
Bookmakers often offer promotions in the form of signup bonuses, reload bonuses and other ongoing offers (such as boosted odds, cash back in the form of bonus bets if your team loses etc.).
The way it typically works is that we place a regular bet with a bookmaker (known as a qualifying bet), which allows us to unlock a bonus bet (which is basically a free bet).
We use the free bet to back on a particular outcome (eg. the Warriors to beat the Storm), then we use a betting exchange (ie. Betfair) to bet on all other possible outcomes (known as laying the bet - in this case that would mean betting on either a draw or the Storm to win).
By doing this carefully, we can guarantee ourselves a decent profit!
Click here to see a more detailed matched betting example.
What are the Benefits of Matched Betting?
In my opinion, matched betting is one of the best ways to make money online. Here's why:
Make Money From Home
With matched betting, you can set your own hours and spend as much or as little time as you like betting.
Work around your full time job and other commitments.
Minimal bankroll required to get started
$200 is more than enough to get started with matched betting. If you have more, that's great and you'll see results even faster!
The lucrative sign up bonuses are a great way to build your bankroll, so don't stress if you don't have much spare money to commit initially.
Tax Free Income
Gambling winnings are not taxed in New Zealand, unless you are considered to be a professional gambler.
Even if you have a full time job and are in a high tax bracket, you can profit with matched betting without paying an extra cent in tax!
Beginner Friendly
If you use a matched betting service, it is really easy to see good profits from matched betting without spending hours and hours reading tutorials and guides.
The majority of people who get started with matched betting have never placed a sports bet before in their life!
Is Matched Betting Legal in New Zealand?
Yes, online sports betting and therefore matched betting, is entirely legal in New Zealand. As long as you are of legal age to gamble, you can do matched betting.
As matched bettors, we are simply using the publicly available bookmaker promotions on the best available odds to profit.
The bookmakers, of course, do not like this so they will eventually stop offering you promotions. Until that point however, you can profit quite handsomely!
Are Matched Betting Winnings Taxed in New Zealand?
Thankfully, gambling winnings are not taxed in New Zealand, so you are free to matched bet to your heart’s content without worrying about tax implications.
This means that matched betting is great even for those with full time jobs and high incomes as your matched betting will have no impact on your annual tax bill!
How Does Matched Betting in NZ differ to Australia?
Matched betting in New Zealand is actually remarkably similar to Australia! Most major bookmakers have one of the following:
- A single site for both Australia and New Zealand
- An Australian site that accepts New Zealand customers
- A dedicated New Zealand site
In any case, as a Kiwi you can sign up to almost all bookmakers that an Australian can - the major difference is that your accounts will be in AUD, rather than NZD.
This means that you will cop a few extra currency conversion fees when making your deposits and withdrawals, unfortunately.
However, remembering that we aim to make at least 70% of the value of all of our bonus bets back as cash, paying a few extra % in currency conversion fees will only slightly dent your profits.
Check your bank’s fees regarding currency conversion - you may be better off using an eWallet such as Skrill or Neteller to make your deposits rather than your regular Visa/Mastercard. Skrill typically charge 3.99% as a currency conversion fee.
However, by using Skrill you may be able to transfer your AUD between bookmaker accounts and Betfair without exchanging back to NZD, which would save you some fees.
Withdrawals using eWallets are much faster than with regular bank transfers as well, usually just taking a few hours rather than a few days.
What do you need to Get Started With Matched Betting in New Zealand?
To start profiting from matched betting in NZ, you will need the following:
ID Documents
Anti terrorism and money laundering laws require bookmakers to verify the identity of anyone who opens an account with them.
Note that many bookmakers will let you open an account and start betting with them, but then require ID when you attempt to make your first withdrawal.
A passport, birth certificate or driver's licence, plus something to prove your address, like a bank statement or utility bill is usually sufficient. Sometimes, a copy of these documents will need to be signed by a Justice of the Peace.
Some bookmakers will be able to verify you automatically via a credit check, otherwise you will need to scan and upload your ID.
I recommend that you only stick to reputable Australian and New Zealand bookmakers to avoid any risk of identity theft.
Bookmaker Accounts
Once you have your ID ready, start opening a few bookmaker accounts. You can start with 2-3 and then open more once you are feeling confident.
You may prefer to start with bookmakers that have dedicated New Zealand sites and which accept NZD, as this will be easier.
Bookmaker accounts can be opened online, there is no need to visit a store.
Betfair Account
Critical to profiting from matched betting is your Betfair account. You will need this to lay the bets that you are backing at the bookmakers.
Your Betfair account will never be limited and they welcome matched bettors, so they are a very valuable asset.
You can open a Betfair account online.
Matched Betting Service Account
The bookmaker promotions often come with lengthy terms and conditions that can be difficult to interpret, even for experienced bettors.
That’s where matched betting services come in handy. They offer you the following:
- A ton of tutorials to help you get started with matched betting
- A running list of bookmaker promotions which is updated daily
- Calculators to help you determine the profit when backing and laying an outcome
- Software that scans the odds for hundreds of matches and tens of bookmakers to find you the perfect bet
- A community of matched bettors who will help out if you are confused or need advice.
The two best matched betting services in Australia are Bonus Money and BonusBank. They are both quite similar, although Bonus Money is slightly better in my opinion.
They both cover all of the Australian bookmakers you will be signing up to, plus TAB NZ.
You can access their services below and try their limited free versions. The coupon codes below will give you a discount if you want to upgrade to their premium services (which I recommend - the free versions are quite limited).
- Bonus Money (code ‘ARBS’ gets you a 5 day free trial of their Pro service)
- BonusBank (includes 7 day free trial of their Pro service)
If you want more info, feel free to check out my reviews of them:
Conclusion - Matched Betting NZ
Matched Betting in New Zealand is possible, legal and a fantastic way to earn a side income!
If you are keen to start profiting from matched betting, the next steps would be to prepare your ID documents, open a few bookmaker accounts and open a Betfair account (these accounts can all be opened online).
Finally, have a look at my article on the best matched betting sites and choose one of them to help you on your matched betting journey! They will make the process much easier with detailed tutorials, guides and powerful odds matching software.
If you have any questions, please leave a comment below and I’ll get back to you shortly!
Read my comparison of matched betting software!
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Disclaimer 1: I am not a lawyer or legal professional and this article does not constitute legal advice. Please discuss matched betting with your attorney to confirm that you are not in breach of any legislation.
Disclaimer 2: This post may contain affiliate links. I will earn a commission if you choose to purchase a product or service after clicking on my link. This helps pay for the cost of running the website. You will not be disadvantaged in any way by using my links.