Matched betting sounds too good to be true.
Make risk-free profits online just by placing a few bets? You’ve every right to be sceptical.
Matched betting can be a hard sell at times. Unfortunately, many people pass it off as a scam before they’ve scratched the surface and explored its’ potential.
The truth about matched betting
The truth is that matched betting is a perfectly legal and legitimate way to make money online.
Bookmakers run promotional offers in a bid to attract new customers ahead of their competition. Matched betting is just a process that enables you to turn those offers into cash.
People see matched betting as ‘money for nothing’, but that’s not really the case. You need your own starting funds that you can put to work and grow. It also takes time and requires a bit of effort.
Does matched betting work?
Matched betting isn’t a new concept. It’s actually been around since 2004. It’s credibility has grown over the years and things have now taken off in a big way.
As with all good things, it was only a matter of time before word got around and everyone wanted a piece of the matched betting pie.
Hundreds of thousands of people worldwide have enjoyed being part of the matched betting boom, with interest peaking as recently as April 2017.
If you’ve ever seen Martin Lewis on TV explaining how to take advantage of high street and online shop promotions, matched betting is a similar concept.
Why do bookies allow matched betting?
Bookmakers don’t like matched betting, but it’s a necessary evil.
If they don’t run promotions, they risk losing market share to rival firms. It’s better for them to be competitive, even though some customers (like me and you) will exploit their offers in the form of matched betting.
This problem didn’t exist for them 20 years ago. Before the introduction of betting exchanges, you couldn’t match bets and take advantage of offers.
Some people say matched bettors don’t hit their profits enough for them to worry. In general though, most bookmakers monitor accounts and if they suspect that you’re abusing bonuses, they may choose to restrict your account. This is known as gubbing.
It’s something that’s covered in their terms, so they’re well within their rights to do this. You just need to fly under the radar with a technique called mug betting. The aim should be to portray yourself as a regular mug punter and you can do this by mixing things up as much as possible and keeping the bookmakers guessing.
Matched betting IS NOT a get-rich-quick scheme.
Provided you’re 18+ years of age and live in the UK, matched betting is a perfectly legal and legitimate way of earning some extra cash in your spare time.
Not only that, gambling winnings in the UK are not subject to tax, so any profit you make is completely tax-free!