Is matched betting legal? It's one of the most common questions people ask when they first hear about it.
It's understandable, really. Guaranteed profits generated in your own time, from home sounds too good to be true.
Is matched betting legal or illegal?
It's legal. Some ask if matched betting is a scam but it's not. It's a 100 per cent legal and legitimate way of generating extra income. And the profits are tax-free, making it ideal as an alternative second income. As long as you are allowed to open an account with a bookmaker - ie you are over 18 and live in the UK - then you can use matched betting.
"Is matched betting legal?" is just one of the questions asked by people who are interested but perhaps sceptical about the process.
Common questions and myths about matched betting:
What do bookmakers think of matched betting?
Most bookmakers don't like matched betting because, as businesses, they don't like losing money. Because matched betting involves generating guaranteed profits, almost all bookmakers try to clamp down on it. They do this by 1. Restricting accounts, 2. Closing accounts, 3. Restricting access to bonuses. However, experienced matched bettors use tactics to disguise their behaviour and avoid having their accounts restricted - or 'gubbed', as it's often referred to.
Is Profit Accumulator a scam?
No, it's not.
Spreading the word about our service and matched betting has been ca challenge as many people question whether it’s legitimate.
It's still a relatively new industry, so doubts are to be expected. But, as it's grown in popularity and people have become more aware of matched betting, it's credibility has increased.
Profit Accumulator is an award-winning business that home to more than 20,000 members.
Generally, matched betting is a legal, sustainable and proven way to make a profit.
This is probably because it involves betting and there is a widespread lack of understanding about how it works.
This is the reason Profit Accumulator offers a free trial to start with, showing users how to make a profit from two simple bookie offers.
You have to be a gambling expert
This could not be further from the truth.
No sporting knowledge is needed – you don’t have to be an expert on horse racing or football.
"I have found it much more enjoyable just dipping in and out"
You don’t even need any betting experience. Profit Accumulator walks users through every step of the system, with written and video instructions and examples.
There is also customer support number and an active forum, where members share advice.
Is matched betting complicated?
Matched betting can seem a little daunting at first but it’s really just about following instructions and double-checking the numbers.
"Just remember that whatever you get it is tax-free"
New members at Profit Accumulator are shown the basics and taken through the simplest profit-making methods before moving on to more advance techniques.
Members have access to several tools, such as an odds calculator and oddsmatching software, to keep the process simple.
It’s a get-rich-quick scheme
Unfortunately, this is not true either.
You won’t become a millionaire overnight but matched betting is an ideal way of supplementing your income or earning a good amount in your own time.
The amount it's possible to make very much depends on your circumstances - how many accounts you do, they types of offers you complete, how much time you can spare and the size of your bankroll.
Some members use matched betting to bring in a couple of hundred pounds each month, while others make £2,000 every month. It really does vary.
Matched betting is not sustainable
Matched betting involves exploiting the bonuses bookmakers offer to incentivise customers.
What happens when you have worked your way through the sign-up offers?
Well, most gambling firms continue to offer incentives in the form of reload offers and it is using these that keeps the profit flowing.
How long does matched betting take?
The beauty of matched betting is that it can be done to suit you - to fit around work, studies, family life and hobbies. Many of our members make a healthy amount of profit every month just by spending a few hours every week on matched betting, while others who can spare more time can earn the equivalent of a full-time wage.
Two of the most popular areas on the forum are the how to make £1,000-a-month thread and the how to make £300 a month thread. These show users exactly which offers to complete each day to hit those targets.
Bookies will close your account
Most bookmakers don’t like matched betting because they don’t like losing money.
The question 'is matched betting legal' probably stems from this issue for most people.
It is true that bookies close or restrict accounts of winning players but that does not only apply to matched bettors - successful professional gamblers often fall victim to the same punishment.
However, there are legitimate methods to keep your account open.
Profit Accumulator shares advice and tips on this very matter to help members keep their accounts thriving.
Even members who have been gubbed my most bookies are still able to generate decent amounts of profit each month.
Firefighter Chris has 26 accounts restricted but still manages to earn healthy profits.
He said: " Just remember that whatever you get it is tax-free, enjoy the process and see it as a hobby that you get paid for, use your free time to do it rather than being tied to it. I have found it much more enjoyable just dipping in and out as opposed to being tied to the laptop when I was making more.
"I became obsessed trying to get and keep Coral VIP and as painful as it was getting gubbed, it was actually a release.
"If it happens, stay positive, become a possibilitarian - the possibilities are out there, you just need to find them."