Is Matched Betting a Scam?
Is it Legal to do Matched Betting?
Table of Contents
You’ve heard of Matched Betting, but you need more information on it. You want to ensure that Matched Betting isn’t a cash vacuum, another scam which can take your hard earned money.
Is Matched Betting a Scam?
It’s time that we cleared this up once and for all. It’s a subject which does need attention. When I started Matched Betting back in 2014, I also wondered if it was a scam.
I did actually get suckered into those claims that you can earn £2,000 every single month by following guides. I was certainly intrigued.
The problem for me, was that there was no Google post about Matched Betting being a Scam. Nobody could answer me for sure, offering their experiences. This is the whole reason that I’ve written this post.
If you don’t have time to continue reading this post, let me advise you immediately that Matched Betting is NO scam. It’s a legitimate way to earn money.
Matched Betting Myths
I like to advertsise Matched Betting as ‘Risk Free Profit’. However, this term could make you think it’s a scam, as nothing should be so easy that you can profit from it.
The term ‘Risk Free Money’ always put me off, as I was taught nothing in life is given free.
This post is to calm your nerves. Matched Betting indeed is Risk Free & very profitable, but there are a few things to consider.
Key Points about Matched Betting
You must use your own money to do Matched Betting. The old cliche, you need money to make money!
Multi-Accounting is risky
You may be Gubbed
Matched Betting is a Risk Free strategy, allowing a user to guarantee A profit by placing bets. This is done using a Sportsbook and a Betting Exchange.
So whilst you can make money from Matched Betting, you do also need to start off with some of your own money. You will always have full control of this, you don’t need to send it to any other members etc.
Is Matched Betting Legal?
Providing you live in the United Kingdom, are 18 years or older, it’s 100% legal.
Think of Matched Betting as a loophole, all we are doing is using promotions that bookmakers offer to customers.
When Matched Betting, we are ensuring that no matter what the outcome is, we cannot lose.
We do this by placing bets on all outcomes (aswell as using some simple maths). I promise there is nothing illegal involved here.
If it helps you to read further material, even Wikipedia have a full post on Matched Betting!
Does it actually work?
Midway through 2014 I thought Matched Betting was a scam, when I refused to sign up.
It wasn’t until around 3 months later when i met a friend in the pub, who told me he was taking advantage of the Coral VIP club. £2,000 he made, while sat there!
I thought he had got lucky on an accumulator, but then he then mentioned it was ‘Matched Betting‘, So as soon as I got home I looked into this further!
I signed up to Oddsmonkey, where I made £18,000 in a year!
My family and some friends are still to this day skeptical of Matched Betting, whenever I talk about it, it’s referred to as ‘Silly Gambling Thing’.
I spend around 1-2 hours Matched Betting a day, yet have managed to earn more doing this than a 9-5 job!
What do Bookmakers think of Matched Betting?
The general feeling is that Bookmakers aren’t keen on Matched Betting as a strategy.
The main reason for this is that we are taking value away from the bookmakers, meaning they make less profits.
Their ideal customer is a punter who bets on outrageous priced favourites (Man city at 1.2 odds) or long-shot accumulators.
Matched Betting customers only tend to use the customers when there is a Free Bet available.
In majority of bookmakers terms, there tends to be a clause on ‘Bonus Abuse’, so they know Matched Betting occurs. I have never had any conflict with a bookmaker regarding bonus abuse, I believe this is VERY rare.
Matched Betting Recap
The main part of Matched Betting is taking advantage of Bookmakers promotional offers.
A bookmaker has a promotion running, Bet £20 & Get £20. We back and lay our selection, meaning we have made £0 Profit or Loss.
We now do the same with the Free Bet, but because it’s the bookmakers £20, we will make around £20!
Matched Betting has the potential to earn you £500 a month with ease.
Matched Betting is completely legal. You are not scamming anybody, we are just taking advantage of a promotional offer. Just like if you go to Tesco and have a Buy One, Get One Free deal!
Although there are no risks with Matched Betting, it is your funds that are at stake. Ensure that you don’t waste any of this money gambling & you will be fine.
If you Run Multiple accounts from the same home network, you do run some risks. I will be creating a blog on this one soon.
It is inevitable that some bookmakers will Gub you from their offers. Some bookmakers are incredibly stingy, they only seem to want silly punters.