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This post explores everything you need to know about the finer details of matched betting and asks: is matched betting legal?
Matched betting can be a fantastic way for Brits to make an extra bit of cash to pay off debt, go on an extra holiday each year, or build enough money for a sizeable house deposit.
Even better – you decide how much time you want to invest, and it can all be done from the comfort of your sofa.
That’s my kind of side hustle.
Thanks to matched betting, I’ve been able to travel to Japan for a three-week trip of a lifetime, inter-railed through Budapest, Vienna and Bratislava, had a week in sunny Madeira and currently invest all profits into my Amazon private label business to enable us to scale as quickly as possible.
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Lets rewind a little: what even is matched betting?
Almost every gambling website uses offers and promotions for both new and existing customers (you know the kind – “Bet £20 and get a free £20 bet!”)
Well, we use these promotions by betting on both outcomes using a bookmaker (e.g. Coral, Paddy Power), and a betting exchange (think Betfair or Smarkets, for example) – so we always win, because they cancel each other out.
We then qualify for a free bet – which is where we make the money.
Want to know something even better?
There are companies out there whose sole business purpose is to help identify each promotion and guide us through every single step – so we don’t even need to work any of this out for ourselves!
I personally swear by Profit Accumulator, whose software I’ve been using for a good few years now. They provide guidance through every single offer to help us both maximise profits, and minimise risk. They also have an incredibly active forum so that if you have any urgent questions or really just want to double check anything (or get inspired by matched betting success stories), you’re bound to find an immediate answer.
Failing that, their team are also on hand to help out, seven days a week.
Providing you follow each of their carefully-described steps, you can’t go wrong!
Prefer to have it explained by video? This is the one that caught my attention a few years back:
To make sure this is the right side hustle for you, I’d personally recommend signing up to Profit Accumulator’s free trial before committing to anything on a longer term, which you can access here. This free trial alone should make you around £40 – at which point you can either walk away with your earnings, or reinvest them into your new matched betting side hustle.
Disclaimer: I am a Profit Accumulator affiliate, meaning I will make a small commission should you sign up. However, this doesn’t affect my views of the service, and I would only ever share software and products I actively use myself.
So how do you make money through matched betting?
As mentioned by Sam in the video above, we make the money in the free bet we get once we’ve placed that initial qualifying bet.
As we bet against both outcomes using a bookmaker and a betting exchange (xyz to win, and xyz to not win), we can’t lose – and therefore alleviate the gambling aspect.
Is matched betting legal?
Matched betting is completely legal – providing you’re of legal gambling age.
Infact, not only is it legal, but it’s tax-free too!
In the eyes of the law, matched betting income is classed as gambling and gambling winnings aren’t currently taxed – meaning whatever you make, is entirely yours to keep. Add to that the fact it isn’t traditional gambling in that you are always going to win, and it’s a pretty sweet side hustle to start!
However, there are one group of people who are anti-matched betting, and that is the bookmakers.
It’s not unheard of for bookies to suss out who are only in it for matched betting, and if that’s the case, they may ‘gub’ your account – or stop sharing any promotional offers with you.
Personally, I’ve been matched betting now on and off for three years, and have only been gubbed by four bookmakers – which, when you think about how many bookies there are (and how many new ones are being launched each year), it’s not something I particularly worry about.
When does matched betting become risky?
The only time I wouldn’t recommend matched betting to somebody looking for a new side hustle, is if they had a history of gambling addiction.
We’ve already addressed the fact that this isn’t technically gambling, but if it’s going to lead to the temptation of later placing bets outside of what the Profit Accumulator software recommends, it just isn’t worth it.
There are a whole host of other side hustles you can start – and you can download my eBook featuring 50 Side Hustles You Can Start Today to find the right one for you:
Matched betting can be a brilliant, relatively consistent way to make a little extra cash each month. In fact, over the last three years, it’s been my most lucrative side hustle yet, and with grand travel plans in place once we’re finally able to to leave the country (post-pandemic), you can bet I’ll be cash-flowing all of my trips with my matched betting income.
Give yourself an hour or two this weekend, enroll in Profit Accumulator’s free trial, make yourself an extra £40 minimum and go from there.