Online betting is nothing short of a phenomenon in the UK these days, with huge numbers of people using betting websites and apps to place bets on all manner of different things.
These could be sports like horse racing and football, online casino-style games, or bets on other outcomes, for example in politics.
However, did you know that there is a way to ‘cheat’ the system, and make money off of bets that carry absolutely no risk at all?
It’s called matched betting, and it’s the focus of this article. Many punters might think it must be too good to be true, but trust us, it isn’t.
Matched betting should only ever be perceived as a short term side hustle to make money online and nothing more. Gambling long term is highly likely to make you lose money so look at this article with an open mind.
If you’d like to learn more about matched betting and how out is matched betting legal then join us for the rest of this article.
First, we’ll have to explain the concept of matched betting.
Table of Contents
What Is Matched Betting?
Matched betting has been around for over a decade now, but it’s still a relatively new concept. Indeed, there are plenty of experienced punters who are yet to become familiar with the concept.
In essence, matched betting is what it sounds like- betting on both outcomes, so that no matter what happens, you come out with a tidy profit.
We can already hear the cries of experienced punters, claiming that there is no way this method could yield any significant results.
Bookies, after all, set up their odds that there is no tangible benefit to be gained from betting both for and against something happening. If it was that simple, everyone would be at it.
And yet it does work. Still not convinced? Let’s take a quick look at how it works.
How Does Matched Betting Work?
As anyone familiar with the gambling industry in the UK will tell you, bookies are constantly offering free bets and incentives to customers. New customers get the most enticing offers, but regular customers can pick up some nice incentives, too.
A classic example of a new customer offer is the ‘place a £10 bet to receive a £10 free bet’. In a normal betting scenario, you would place the first bet with your own money. If it wins, great, but if it loses, you will be a tenner down.
Of course, you still have your £10 free bet to potentially recoup your losses, but if that loses as well, you will be down ten pounds. In other words, you are relying on chance to make a profit.
Matched betting removes the element of chance by allowing you to cover all potential outcomes. You do this by utilising both the bookmaker and a betting exchange website like Betfair.
Say, for example, Manchester United are playing Liverpool in the Premier League. With the bookie, you place your £10 bet as normal on Liverpool to win.
Over on the exchange website, you place what is known as a ‘lay’ bet on the betting exchange website. In other words, you’ll be betting on Liverpool not to win.
You need an exchange rather than a typical bookmaker for this step as traditional bookmakers do not offer lay bets.
Is Matched Betting Legal?
It might appear far too good to be true, but matched betting is in fact 100% legal. It’s best thought of as a ‘loophole’, and it is a very profitable loophole at that.
As long as you are over the age of 18, the legal gambling age in the UK, you can start your matched betting journey right away.
You might think ‘wait a minute, if it isn’t gambling why do I have to be of the minimum gambling age?’. The answer is simple, although you technically aren’t gambling, you will have to open accounts with at least a couple of bookmakers.
A requirement of signing up for these sites is an age and identity check.
So, to clarify, there are absolutely no laws on the books in the UK that forbids placing both ‘backing’ bets and ‘laying’ bets on the same sporting event.
Quite the opposite, actually. When people have been able to ‘beat the bookmakers’ fair and square, it has attracted positive attention from the national press.
What Do The Bookies Think?
Bookies are quite happy to offer free bets and promotions to encourage customers to bet with them, and to encourage them to come back again and again.
Therefore, they can’t really actively condemn the matched betting loophole. Officially, the big bookmaking companies in this country take a neutral stance on matched betting.
When asked about it Graham Sharpe, previously employed in media relations at the major bookmaker William Hill, acknowledged that there is nothing illegal about matched betting.
He was quoted as saying ”It’s a free bet and you can do what you like”.
That said, there is absolutely no doubt that the bookies would greatly prefer it if matched betting didn’t exist. They absolutely despise it when someone makes money off of matched betting.
After all, the money we’ve made matched betting is money they’ve lost.
Are The Bookies Powerless?
Although matched betting is perfectly legal, that doesn’t mean the bookies are powerless to prevent it.
Most betting companies have T&Cs when you sign up that limit you to one account per customer to prevent ‘bonus abuse’, which is the practice of signing up to the same bookmakers multiple times in order to take advantage of new customer free bet promotions.
Bonus abuse isn’t a key part of matched betting, far from it- but it does make it easier to rack up bigger profits more quickly.
Bookies can also take action if they suspect a customer is a matched bettor. They can restrict accounts, an action which is known as ‘gubbing’ in the matched betting community.
Gubbing can in some instances be avoided by placing the odd genuine bet. However, even if you are gubbed by a bookmaker, it is far from the end of your journey in matched betting.
There are still plenty more bookies to use, and plenty more offers and promotions to take advantage of.
FAQs
Why do bookies allow matched betting?
Bookies allow matched betting because it is a risk-free way to acquire new customers and keep existing ones engaged, ultimately leading to increased profits.
Matched betting involves using free bets, promotions, and bonuses offered by bookmakers to guarantee a profit by betting on all outcomes of a sporting event.
While bookies may lose money on individual bets, they benefit from the long-term value of the customer relationship and the potential for them to place profitable bets in the future.
Additionally, matched betting is legal and ethical, making it a viable and attractive option for bookies to allow.
Can you actually make money from matched betting?
Yes, it is possible to make money from matched betting, as it is a mathematical and risk-free technique for exploiting bookmakers’ promotions and offers.
However, it requires careful planning, research, and attention to detail, and success largely depends on finding the right opportunities and utilising them effectively.
With the right approach, matched betting can be a lucrative source of income for those willing to put in the time and effort but remember that it won’t last so consider it a small injection of cash.
Does matched betting affect your credit score?
No, matched betting does not directly affect an individual’s credit score, as it does not involve borrowing money or taking out credit.
As such, it does not require a credit check, nor does it involve any form of credit agreement or financial commitment.
Like any form of gambling, it is important to manage finances responsibly and avoid taking unnecessary risks, which could have indirect implications for creditworthiness if mismanaged.
Final Thoughts
Matched betting is a completely legal way of using betting exchanges and bookmakers’ promotions to place bets that are guaranteed to make you a profit. There is absolutely no risk involved.
However, this does not mean that matched betting is entirely unregulated, but bookmakers do try to stamp it out when they spot it.
If you’re clever, however, there’s nothing stopping you from making a risk-free profit of a few hundred pounds or more.
I would also make sure you’re very careful. Gambling has its risks and you need to be sure you don’t get sucked in because as we know, the house always wins in the end.
I also want to make clear that we are not an advocate for gambling. We are however an advocate for making money and this is simply another way to add a few more pounds to the pot.
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Disclaimer: Content on this page is for informational purposes and does not constitute financial advice. Always do your own research before making a financially related decision.
