As a player, Etherington played as a winger, most notably in the Premier League for Tottenham Hotspur, West Ham United and Stoke City.

Born in Truro, Cornwall, Etherington began his footballing career at Peterborough United and was a stand-out performer for the Posh, which attracted the attention of Premier League clubs.

However, he had personal problems related to an addiction to gambling and in 2009 was sold by manager Gianfranco Zola to fellow Premier League side Stoke City.

At Stoke, Etherington became a vital member of the side under manager Tony Pulis, winning the player of the year award for the 2009–10 season and also played in the 2011 FA Cup final.

Born in Truro, Cornwall, Etherington came through the youth ranks at Peterborough United after being spotted by Barry Fry playing for Falmouth Town under-14s.

Etherington struggled to establish himself during his three-year stint at Spurs and, in 2001, spent two months on loan to Bradford City,[5] where he made 13 appearances and scored one goal, against Watford.

[4][6] Having only started five Premier League matches since arriving from Peterborough in 1999, he handed in a transfer request in June 2002, saying he decided his career would be best served away from Spurs.

[10] Etherington made 51 appearances for Tottenham, 28 of these as a substitute, scoring two goals against Bolton Wanderers in the FA Cup[11] and Everton in the Premier League.

[4][12] Etherington joined West Ham at the beginning of their two-year spell in the second-tier of English football, playing the final season of the First Division and the first of the Championship.

Now under the managership of Trevor Brooking, following the sacking of Glenn Roeder, West Ham beat Crewe Alexandra 3–0 at Gresty Road in the first ever Football League meeting between the clubs, with Etherington scoring the third goal.

Etherington eventually lost his place in the starting XI due to Gianfranco Zola's preference to play younger players.

On 8 January 2009, Etherington completed a transfer, thought to be for £2 million, from West Ham United to Stoke City, signing a three-and-a-half-year contract.

[44] He made 33 appearances in 2012–13 as Stoke finished in 13th position and the end of the season, Tony Pulis left the club and was replaced by Mark Hughes.

[45] Hughes changed the team's style of play for the 2013–14 season, and while Etherington stated Stoke had adapted well, a lack of goals was still a concern.

[51] Etherington appeared for the England Under-20 team at the 1999 FIFA U-20 World Cup, playing alongside players such as Stuart Taylor, Ashley Cole, Peter Crouch and Andy Johnson.

[56] On 27 November 2022, he was appointed as the manager of 19th-placed EFL League Two club Crawley Town, succeeding interim boss Lewis Young.

[64] On 1 January 2024, Etherington was sacked following a 1–0 defeat to Gillingham, adding to a poor run of eight losses in nine matches in his spell as permanent manager.

[69] Matthew's father, Peter, has thanked Stoke City for saving his son's career and helping him to combat his gambling addiction.