Mr Matthews went to William Hill and explained his situation. He put 2 bets on at £100 stake at 50/1 that he would be alive in June 2008 and June 2009.
A third wager will earn him a further £10,000 if he lives until 1 June 2010.
He is due to collect his second £5,000 winnings on Monday 1st June.
Mr Matthews said: "I think I'm the first person in the world to bet on my own life. When I was diagnosed I was told mesothelioma was a death sentence. I wasn't that fussed because everyone has to die some time. But the interesting thing for me was how long it would take - would it take weeks or years?"
A spokesman from William Hill said: "We had never been asked to accept a bet of this nature before. But as Jon approached us directly and was adamant that it would give him an additional incentive to battle his illness, we offered him the bets he wanted. Never in 30 years in the business have I been so pleased to pay a winning client £10,000, with, I trust, a further £10,000 to come next year."
Fingers crossed he sees in June 2010.