Is matched betting a gateway to gambling and is it dirty money?
I was recently questioned for my ethics on Twitter when promoting the matched betting company I use. Matched betting has provided me with over £2700 in tax free and risk free cash this year.
It's a great way to make extra cash on the side at home. I also don't think it's wrong. I hope adults are able to gamble responsibly and know their limits. Here are two questions that were raised and my thoughts.
1. Is matched betting a gateway to gambling?
Yes it may very well be for a very small minority, just like anything can be a gateway to something; alcohol a gateway to alcoholism, sugary foods a gateway to obesity, a store card a gateway to a shopping addiction, a bank loan a gateway to debt and so on. But does that mean we should all stop doing these things because they can have a dark side? Most people I know drink alcohol, for example, so I expect they’d say no, even though the availability of it can cause death to some people. Everything has another side.
The entire purpose of matched betting is to make money, not to lose it. The opportunity to gamble is always there. It was there before I started matched betting, yet I never felt tempted by it. The only reason I started matched betting was to make money, not lose it, so it won't be a gateway to gambling for me.
Important - If you think you'll gamble or you've had an addiction, then don't start matched betting! The same as if you don't know when to stop drinking or have been an alcoholic - don't start drinking again! If, like me, you had a shopping and debt addiction then stay away from the store cards!
2. Is it dirty money?
I like to think its money that responsible adults have agreed to lose, just like myself. Calling it dirty gets complicated. Yes some of it may be, but that’s not my fault or responsibility.
Dirty money is everywhere if you really want to look and trace the source of every penny.
Many banks have greatly been funded by wars and still continue to make money from weapons, etc. Yet I borrow money from my bank for my mortgage and loans. This must be dirty money too.
Should we all feel guilty about this or never use a bank again?
If winning a bet gives you 'dirty' money, then playing the lottery has to be the same. It’s gambling and I bet many people with an addiction take part in their games. But also nearly everyone I know, without an addiction, plays the lottery and wants to win. Many lotteries also give vast amounts to charity and good causes.
Does this mean all these charities are funded with dirty money?
Again, I’d like to think not and assume the vast majority of the money comes from responsible adults who can make their own decisions.
Are you a gambler without realising?
If someone asked me if I gambled, I'd probably immediately say no. But actually, I am. Not through matched betting, but in other ways. The word gamble conjures up something bad and an addiction, but many of us are gamblers. Here are a few ways I gamble, and you might too:
- Raffles – yep charity raffles, school fete raffles, it’s a form of gambling – you might lose your money!
- National lottery – I play every week and most people I know play regularly
- Money pools – I’ve taken part in these at either work or with friends to guess a baby due date, for example
- Owning shares – I have shares in the company I used to work for and there’s the risk they could lose their value and I could lose some money or all of it
- Buying scratch cards – I rarely buy scratch cards, but every now and then, like twice a year, I get the urge and grab a couple for Ben and I for fun
- Visiting the casinos in Las Vegas playing slots and roulette
- Having a go on the 2p machines on the pier at Weston Super Mare
Many people I know also enjoy going to the races, especially as I live by Cheltenham, and putting money on horses for fun once a year!
Is matched betting for you?
If you want to make money and DON'T want to gamble, then yes it's for you. If you have any doubt that it will turn into a gambling addiction for you personally, then no, it's not for you.
If you think it is for you and you’d like to find out more, why not catch up on some of my previous blog posts about matched betting here:
I’ve made £300 tax free cash from home in 2 weeks and you can too!
£753.62 Matched Betting Profit Month One (and silly mistakes)
Not sure about matched betting? Make £40ish now to see if it’s for you!
Matched Betting Profit 2 Months: £1341.81
Matched betting profit after 3 months: £1706.81
The matched betting company I use:
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