You may have heard a lot about matched betting recently, with more people using the technique to generate income online. As it gains popularity, so do a number of myths associated with matched betting.
Given there is a lot of misinformation circulating when it comes to matched betting, let’s examine some of the myths and set the record straight.
1. Matched Betting Is Not Gambling
One of the most common misconceptions around matched betting is the idea that this is a form of gambling. In fact, whereas gambling involves risk-taking and playing the odds, matched betting does not involve chance in any way.
Rather, it is a specific strategy which applies particular, deliberate techniques for guaranteed results. Matched betting works by taking advantage of incentive bets provided by bookmakers, and using these in combination with placing an equal bet, at the same odds, on the opposite result. Incentive bets are the free bets offered by bookmakers to new customers and to encourage existing customers to renew.
Therefore, because the technique is to place an equal bet each way, it is impossible to be out of pocket. Instead, there are guaranteed results which flow from the use of free incentive bets. This will vary depending on the conditions placed by each bookmaker, but in most cases a cash out of 80 – 90% (usually £8 – £9) is allowed.
2. Matched Betting Is Completely Legal & Tax-Free
Another common myth about matched betting is that it is in some way illegal. Perhaps the idea seems too good to be true: beat the bookmakers at their own game, and earn a reliable, guaranteed income on each and every bet you place. It is easy to understand why people may think that in doing so they must be bending (or breaking) the law.
However, matched betting is in fact 100% legal. Absolutely, bookmakers don’t like that people use matched betting to work within the system to generate profits, but this is exactly the point: matched betting works within the system. That is the clever aspect of matched betting, in using specific techniques to cover all outcomes and extract profit from free incentive bets, this does not break any rules let alone break any laws.
It is possible the specific betting sites may restrict your activity by either limiting your access to promotions and free incentive bets or lowering your maximum betting stake. This does not mean you have done anything illegal, but rather the site is exercising their right as a private company to implement internal policies on those using their services. Matched betting represents a loss to bookmakers against income they would otherwise make from unlucky gambling, so it is not surprising that they try to limit the activity. Both matched betting, and bookmakers trying to control it are completely legal.
Furthermore, this is not a great concern, as there are so many booking sites available that anyone wishing to use matched betting can simply move on to another site. Earnings from matched betting are not only legal, but are completely tax-free within the UK, so you can be confident in receiving profits from matched betting without any repercussions.
3. Matched Betting Is Safe
Some people also believe that matched betting is risky or unsafe. However there are extremely limited risks involved in matched betting if the correct strategies are applied. The only risks are mainly related to non-reputable betting sites. There are some sites online which can cheat or scam users, but by only using reliable sites this will not be an issue.
Using a site like Profit Accumulator helps you to identify a large volume of incentive bets from reputable and reliable sites, by only posting offers from bookmakers who hold an official UK licence. By only using UK licenced bookmakers, users will have the guarantee of recourse through UK gambling authorities.
4. Matched Betting Goes Beyond Signup Offers
People who already know a little about matched betting may be afraid that the strategy is limited once they have exhausted all available signup offers. Although the incentive bets offered by bookmakers to new clients are a great place to start, matched betting strategies go much further than just these signup offers.
Once all signup offers have been exhausted, which in itself will keep bettors occupied for at least a month or two, you can turn to other types of incentive offers. Most bookmakers also regularly release reload offers, which are incentive bets given to existing customers to encourage them to keep betting.
5. Matched Betting Can Provide Sustained Income
Some people think of matched betting as a side line or casual activity which can be used to generate some pocket money, but nothing more. As covered above, through matched betting it is possible to make around £8 – £9 per bet. This may not seem like a lot, however if this strategy is repeated consistently over time, through regular matched betting it is relatively easy to generate a sustained income in the long term.
With the current number of bookmakers in the UK and rate of first time and reload offers they supply, it is possible to generate between £300 and £1000 per month depending on offers available and, most critically, the amount of time and effort you are willing to put in.
There are many myths and misconceptions around matched betting, however with a better understanding of the strategies involved you will discover that it is in fact a safe, legal and relatively straight forward way to generate reliable income over time.
