How can matched betting be legit? Since when has spending all your time gambling been a road to anything other than financial ruin?
Well, as I’m sure you’ve heard, lots of people are making money out of matched betting – for not that much effort. It’s high time you got on board and worked out if it’s something you want to get involved in too.
In this article we’ll take a look at whether it’s legit, and – importantly – whether you can realistically make enough money for it to be worthwhile.
Is Matched Betting Legal?
Matched betting isn’t always the sort of activity that gets talked about openly.
When you combine this with the fact that matched betting is an activity that essentially guarantees you profits at the expense of the bookmakers giving away free offers, it’s easy to wonder if this activity is actually allowed.
If matched betting sounds too good to be true, read our article on ‘How does matched betting work‘, for a thorough explanation.
Let’s get this straight: matched betting is certainly legal. As long as you’re over 18 then you’re legally allowed to gamble in the UK, and that means that you can participate in matched betting.
If you’re still in any doubt, then you may be reassured to know that matched betting has been appearing in the mainstream media. For example:
- Guardian – Free Bets Mean you Can Clean Up As Bookies Meet Their Match
- Telegraph – Is this a Bet You Can’t Lose?
Neither of those articles, nor any other source out there will tell you that there is anything remotely illegal.
Even one disgruntled bookie was quoted, themselves, in the Guardian as saying:
“There is nothing illegal or wrong in people taking advantage of bookmakers if they are silly enough to make free bet offers. One person can take up as many offers as they like and bookmakers should not expect loyalty or anything else.”
Guardian: Bookie in plea to Gambling Commission over ‘matched-betting’ activity
Why do bookmakers allow matched betting?
Bookmaker’s are businesses and they exist for one reason only: to make money from punters gambling.
Whilst matched betting is legal, it’s something the bookmakers clearly hate. Naturally, any system that means punters are going to consistently profit at their expense isn’t something they like.
The problem for the betting companies is that they need to continue to post bonus offers in order to compete for customers. And that’s where the opportunities for matched betting arise.
In the eyes of the bookmakers matched betting is not legit, and most of them take measures to identify people abusing their generosity. They bar those customers from future offers. It’s what the matched betting community refer to as ‘getting gubbed‘.
The bookmaker is completely entitled to gubb you at any time, even without proof that you are matched betting. Trust us, we’ve been there, and the cheery email you receive will look something like this:
Unfortunately for the matched betting community, the bookmakers are getting ever more efficient at identifying and banning matched betting, which is making it harder to do than it was several years ago.
If the bookmakers don’t like it why do people do matched betting?
Even despite it being more difficult these days than it was several years ago, there is still money to be made. See further below for how much you can realistically make.
Bookmakers aren’t always able to identify those who are matched betting – especially if you are smart about it.
Who me? Matched betting?….. Nope, you’ve got the wrong guy….
But the other big lure of this as a way of making money is that it is completely tax free. And it is this that has helped some individuals previously claim that they’re making a full time living from matched betting.
It’s also not a particularly difficult thing to do either. It does require a bit of learning, and some simple aptitude for numbers. But the vast majority of people can easily do it from home without even getting out of their pajamas.
Are matched betting profits really tax free?
As explained nicely on Casino.co.uk: “if you live in England, Scotland, Wales, or Northern Ireland, your gambling winnings are tax free whether you play live or on the internet”.
Don’t worry, the government get their slice of the pie through all this as well. They charge a gaming-related duty on the bookmakers. In the 2017-18 fiscal year alone, Her Majesty’s Revenue and Customs raked in £2.9-billion through this.
Is Matched Betting Worth It?
That question boils down to how much money you can make matched betting, and how easy it is.
Unfortunately the internet is awash with people making outrageous or inflated claims about how much they’re making on matched betting. Usually because they a) want to show off or b) want to sell you something.
Even the advice on the site of OddsMonkey – a matched betting service we use and would happily recommend (see our review of why, here) says:
All we can tell you is what we’ve made through matched betting on this site. 3 of us began matched betting in November 2018 and we each made an average of £175 per month over the first 6 months. And that’s with just a couple of hours invested in it each week (though many more hours were needed at the start, learning the ropes).
In our opinion, matched betting is absolutely worth looking in to if you want a way to earn money on the side. Some people claim to make £1,000+ a month, which we think is pretty unrealistic. But you can certainly make £100+ per month with just a couple of hours a week.
It’s a little tricky to get the hang of, and you’ve got to have at least £100 of bankroll just to get started. But once you get up and running with your first few bets, this genuinely is a decent way to make money from the comfort of your own home.
How you feel when you start making sweet money matched betting…
The most important piece of advice is to treat it as an investment and means of making money. Do not stray into real gambling as there’s only one winner in that situation (spoiler: it’s not you).
If you’re interested in giving it a go, then we’d suggest you now check out the following articles that will explain more:
- How does Matched Betting Work (Easy Guide) – matched betting can be a little tricky to grasp at first. But we’ve broken it down with an example in this guide.
- 12 Essential Matched Betting tips for Noobs – this is everything that we think a complete beginner should know in order to avoid making potentially expensive mistakes.
- OddsMonkey Review: is it worth the Money – one of the most popular tools out there, and one that has all the tools and tutorials to get you started. Here’s why we use it and why you might want to consider it too.