If you’re looking to make some extra cash, there are a few things you could try out. Here, Peter Watton from OddsMonkey gives us his guide to side hustles for Londoners.
A recent survey we carried out at OddsMonkey found that more than one in three (34%) Brits struggle to make ends meet, while 29% have a side hustle to make some extra cash. Our results also showed that Londoners who have opted for a side hustle earn an average of £285 extra each month — higher than anywhere else in the UK.
What are the most popular side hustles?
Our survey found that the most common side hustle was selling items online, with 20% of respondents doing so. 8% of respondents said they make and sell crafts and 6% said that they make extra money from gambling or betting, including matched betting, which makes them the second and third most common side hustles.
What are the most profitable side hustles?
But that’s not to say that the most popular side hustles are the most profitable. Photographers can earn an extra £389 per month and not far behind are bloggers, who could be earning around £333 per month. Renting out a spare room is also up there, earning respondents around £294 extra each month.
Which side hustles are best for Londoners?
Unfortunately, the top two most profitable side hustles require a strong set of skills, so they’re not always the best option. However, there are some side hustles that would be perfect for Londoners, like renting out your spare room or driveway — which is perfect if you’re living in the city and space is a premium.
You could also try a spot of matched betting, which is a form of gambling that’s lower risk, but often more profitable. To find out more about matched betting and how you can get started, we at OddsMonkey have created a handy matched betting guide.