Is matched betting gambling?
I was recently questioned for my ethics on Twitter when promoting the matched betting company I use and told, yet again, it's gambling. This is usually from people who have not tried matched betting and don't understand exactly what it is.
Many people instantly and mistakenly think matched betting is gambling. It's not.
Matched betting is, in fact, a legit way to make extra cash at home by taking advantage of the bookies offers using a mathematical equation to extract profit. It's been featured in the biggest newspapers, tried and tested by the Sun, the Guardian, the Telegraph, Vice, Daily Mail and Money Saving Expert as well as numerous trustworthy bloggers and more!
I personally tried and tested it for two years and I can confirm I did not become a gambler! Now I am no longer matched betting, I have no interest in ever placing a sports bet again. The only reason I'd place a sports bet again is if I start matched betting again to extract the profit from free bets!
If you read my matched betting blog then you'll see I made over £5600 cash in my spare time over two years. You'll also be able to see my breakdown of profits every month for two years, read real life matched betting stories and bust the matched betting myths (such as it being the same as traditional gambling!)
Matched betting is a great way to make extra cash on the side at home.
I also don't think it's wrong. I was told it is a gateway to gambling and it's dirty money.
Read on to see why I disagree and support matched betting as a great way to make money from home.
First, what is matched betting? Why isn't it gambling?
When you gamble you are placing a bet on one outcome, usually for your favourite team to win a sport or achieve a certain outcome in their match. You risk your money if they lose. You do it for the risk and the thrill. There is no guarantee you will make any money.
Matched betting is different.
With matched betting you take advantage of the free bet offers that bookies regularly offer to make money. By using a mathematical equation you can extract profit from the free bet offers. You don't need to know or understand the maths behind it as there is software online that works it all out for you. I used the software at Profit Accumulator and always recommend them as they make matched betting really easy.
Unlike gambling, there is no winning and losing a bet. You place bets on both outcomes. It doesn't matter if they win or lose. You're not supporting your favourite team and rarely even choosing which match or team you are even betting on. You cover both outcomes of a bet and use the Profit Accumulator software to find close matches in regards to the odds so you can then claim the free bet and extract the most profit from the free bet.
It might sound complicated, but Profit Accumulator have step by step instructions, video guides, forums and a customer service team available by email and phone to talk you through it all. I was able to follow their step by step instructions to successfully matched bet for two years.
If matched betting is done properly then you can't lose. It is generally considered a risk-free bet as it is based on the application of a mathematical equation rather than chance.
Here's how PA explain it: "Matched betting, or double betting, is a method of profiting by pitting two different bookmakers with varying odds against each other while betting on both teams. By using this system you can wager on an event with no risk of losing. The act of match betting is considered by experts to be a risk free form of gambling if done properly."
To make sure you do it properly, you'll need the assistance of a matched betting company like Profit Accumulator who show you exactly what to do.
Matched betting made easy
Watch this video from the founder of Profit Accumulator to hear matched betting explained simply.
If done correctly then matched betting is a legit way to make extra cash from home, online in the UK. It can be squeezed into a busy routine, in evenings, daytimes, at weekends, lunch breaks, you name it. Once you get your head around the Profit Accumulator software, and used to finding and placing the bets, then you become much quicker.
Now you know it's not gambling, you might still have some other ethical concerns, like the Twitter user I mentioned at the start.
So matched betting isn't the same as traditional gambling and is considered risk-free when done properly, but could it be a gateway to gambling?
And isn't any money made 'dirty money'?
Read on to discover when matched betting actually isn't a good idea and why calling money 'dirty' is complicated.
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 for some people?
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.
If you've had a problem with alcohol then you might avoid pubs and any environment with alcohol. If you've had a problem with gambling then you probably want to avoid matched betting as you'll be in the environment and it might spark temptation. You should know your own self.
The entire purpose of matched betting is to make money, not to lose it.
The opportunity to gamble and place sports bets 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 wasn't 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 you had a shopping and debt addiction then stay away from the store cards!
Whilst matched betting is different to gambling, you will be using bookies sites. If being on them will tempt you to gamble then don't do it. However if you simply want to matched bet to make money, then as I said above if matched betting is done properly then you can't lose. It is generally considered a risk-free bet as it is based on the application of a mathematical equation rather than chance.
There are thousands of testimonials online and it's even been shared in huge publications such as the Guardian and Telegraph where they tried and tested it with success.
Is matched betting dirty money?
I like to believe the majority of money that bookies make is from responsible adults. Money that adults have agreed and can afford to lose, just like myself if I ever do gamble such as playing the lottery or taking part in a raffle.
Calling it dirty money gets complicated. Yes some of it may be, but that’s not my fault or responsibility.
People can gamble responsibly and many do enjoy it as a pastime or every once in a while without developing an addiction or getting into financial difficulty. In fact, most of us have gambled as adults in one way or another, and most of us would say we are responsible.
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, most of us do. Some of 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 nearly everyone I know, without a gambling addiction, plays the lottery and wants to win. Many lotteries also give vast amounts of cash 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 those who gamble responsibly.
Are you a gambler without realising?
If someone asked me if I was a gambler, I'd probably immediately say no. But actually, I am.
I am not a gambler because of matched betting, because as explained above that is not the same as gambling, but I am a gambler in other ways. You probably are too.
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 betting money on horses for fun once a year!
Is matched betting for you?
If you want to make money and have no intention or interest to gamble, then yes matched betting is a great way for you to make extra money from home.
However, if you have any doubt that being around bookies and the temptation to gamble could spark a gambling addiction for you personally, then no, it's not for you.
A list of matched betting blog posts
My matched betting journey
Matched betting blog posts + FAQs
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Article originally posted on 11:00am Friday 8th Sep 2017. Updated Sunday 26th July 2020.