Who doesn’t want to make more money? Peter Watton, from matched betting service OddsMonkey, told us the top ways that we can earn some extra cash online.
According to research conducted by GoDaddy and the Centre for Economics and Business Research, the number of people attempting to earn money on top of their day job has increased by 32% within the last year. If you want to be one of them, read this guide to find out the best ways you can make money online.
Buying and selling online
The simplest way to make money online is by selling your old stuff. You could have so many money-making opportunities just sitting in your drawers and wardrobes, so instead of just throwing it away, why not put it up on an online auction site like eBay, or a buying and selling app?
Alternatively, if you’re buying online, you can sign up to a cashback site, which allows you to make money on your online purchases. These usually ask you to enter the shop through a link in the cashback website, and once you buy, the site pays you back a percentage of your total. Of course, if you really want to make some money this way, I’d advise you to only do this with purchases you were going to make anyway, to avoid unnecessary spending!
If you’re willing to take a risk, and we’re betting you are, you can try to predict upcoming trends before they happen. Then, you can buy things online for cheap, and resell them for a profit when they start to become in demand.
Now, matched betting isn’t the easiest concept to explain, but it’s a lot easier to do. Basically, it requires you to place a bet with two different bookmakers on the same event covering all outcomes, using the free promotional bets you receive from the bookmaker. Then, no matter what happens, you can turn the free promotional bets into cash, repeating the process to increase your profits.
Sometimes, the maths can be complicated, and you might need an odds calculator to tell you exactly how much you need to spend in order to make a profit.
Companies need to know about their customers so that they can tailor their content and their marketing towards them. To do this, they usually create surveys so that they can get to know a little bit more about what makes their audience tick, and completing some of these surveys can earn you some extra cash.
All you need to do is sign up for an online survey site which allows you to answer questions in return for cash rewards or points in your account. Simply wait for a survey to come your way, answer it and prepare to be paid. However, when doing this, you do often need to answer a few surveys before you can get the money.
Do you have an opinion that needs to be heard? You can now get paid for that opinion by writing online reviews and helping other shoppers to make a decision before buying something. Reviews also let the company know about any issues with their products or services, so they’re really important to online retailers.
The quickest way to do this is by joining a review site which, much like a survey site, will help you earn money by leaving your valued feedback. This one does require a lot of work, however, but the results can be rewarding once you’ve got the hang of it.
If you’ve got the time to share your knowledge, online tutoring is a great way to get paid for teaching. Just join a tutoring website, complete their training courses and you’re all set to start earning money. You don’t even need a degree to do this, because you can tutor GCSE or A-level students, assuming you have the right grades.
Alternatively, if you have an interesting skill, such as painting, you can cash in on it by joining websites which let you record video tutorials and teach subscribers. With this, you can earn money for each view your tutorial gets. Usually, these sites have sections for all sorts of topics, so no matter what your interest or expertise is, you might be able to earn money by sharing it.
Entering online competitions
Usually, companies set up online competitions to showcase their products and collect basic information about their customers, commonly through mailing lists. These are great opportunities for you to earn free prizes by filling out a form, answering a questionnaire or just liking a post on social media. It’s important to remember, though, that competitions are not a guaranteed win, so don’t rely on a prize each time and enter as many as you can to increase your odds of winning.
You can even join a community of competition enterers (who call themselves ‘Compers’) who post about the best competitions in online forums, so you never miss a great chance to enter! Before starting, though, I’d suggest setting up an email account specifically for entering in competitions to avoid spam being sent to your usual account. You should also keep track of which ones you’ve already entered, because some companies will disqualify you if you enter more than once.
No matter which way you decide to make money online, there’s something for everyone. If you’re short of time, matched betting and online surveys are great ways to earn a bit of money on the side. Online tutoring and competitions are best for if you’ve got a little more time on your hands but they’re still just as rewarding.