Sports betting in general can be a very controversial topic. Even these days bettors can be faced with negative attitude when speaking about their activity.
In a lot of countries, gambling is still under strict regulations or not even allowed at all. However, in countries where sports betting is allowed, matched betting as a guaranteed way of making money has got a big role.
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What is matched betting?
Matched betting is one of the most common smart betting techniques to make a guaranteed profit from sports betting. This betting strategy is based on getting welcome bonuses and free bets from bookmakers. Smart sports bettors like matched bettors are placing series of bets that are converting these bonuses to withdrawable guaranteed profit.
To attract as many clients or bettors as possible, bookmakers are offering welcome bonuses, free bets, free spins on slots. One of their best marketing strategies is offering these bonuses for keeping bettors to spend their money.
Is matched betting legal?
Matched betting is a guaranteed way of making money and it is legal in every country where sports betting is allowed. No laws are restricting this type of sports betting and probably matched betting won’t be restricted by regulations at all.
In matched betting, you are simply taking advantage of bonus possibilities offered by bookmakers in a smart way. You are simply covering the other outcome of your bet at another bookmaker thus generating a guaranteed profit.
You might think that this betting strategy is not ethical because you are causing financial damage to a company.
My point of view about this: as long as the bookmaker’s only intention is to get your money in every possible way, without making it possible to make sports betting a win-win situation like at exchanges, I don’t think that any smart betting strategy is unethical.
In some countries, sports betting and gambling, in general, are not allowed. Betting from these countries is not a wise decision, not even with smart betting strategies like arbitrage betting, matched betting, or value betting.
These betting techniques are offering a great opportunity of making high returns on sports betting. But if the country you are in is not allowing sports betting, then matched betting is illegal too.
Sending money from your bank account to betting sites can be tracked easily and will have serious consequences.
What part of matched betting can be illegal?
In most countries, winnings from betting and gambling, in general, are taxed. Depending on your country you have to pay taxes between 1% to 25% after your winnings.
On the other hand, there are countries like the United Kingdom, where income from betting is tax-free. If you are not lucky enough to bet from a country like this you should not avoid paying taxes after your profits from betting. Tax fraud is a serious crime with consequences that you want to avoid.
Is matched betting a pyramid scheme or a scam?
Matched betting is based on taking advantage of bonuses offered by bookmakers. If you are using legitimate bookmakers with a good reputation, their bonuses will be credited to your account if you met every requirement.
Generally speaking, matched betting is not a scam at all, it’s a method for normal bettors to make a guaranteed profit from bonuses offered by bookmakers.
However, using bookmakers with shady backgrounds and with bad reputations can lead you to lose your whole balance. A lot of bookmakers with no clear background are offering very good welcome bonuses.
Bettors without enough experience might become greedy from these opportunities for free money and they deposit their money to these bookmakers. Bonuses at these scam bookmakers are not worth the try.
You have a 99% chance of becoming a victim. Matched betting is a strategy that doesn’t require involving another person to make a profit.
Pyramid schemes, in general, are built up in a way that without inviting other people into the business you can’t make good profits. Matched betting on the other hand is totally independent of this kind of business model.
So why do people think that matched betting is a pyramid scheme?
Most bookmakers are offering an opportunity of inviting your friend to them with a reward of a bonus for both of you. Some bettors are taking advantage of these opportunities to increase their winnings.
This is why people who have been invited can think that making money from bonuses is only a pyramid scheme. But keep in mind that this method of getting bonuses is only a little part of matched betting. Inviting friends is not required at all for being successful.
Is matched betting gambling?
I think gambling is excluding any betting strategy that leads to a guaranteed profit in the long run. As long as you are following a proven, profitable betting strategy like arbitrage betting, matched betting or value betting, you are not a gambler.
Gamblers are making betting decisions based on intuition and a superficial experience, which is quickly leading to losing their money in the long run. On the other hand, matched betting is based on mathematics and is generating a guaranteed profit.
Any betting strategy is based on statistics, mathematics, deep knowledge of betting and sports in general, and is generating profit in the long run, cannot be categorized as gambling.
For outsiders without knowledge about sports betting, it is very easy to think that matched bettors are only simple gamblers with a little bit of luck.
But after a period of time, knowing a bettor like such, they will notice this kind of success. In the long run it can’t be just a simple gambling activity.
Is matched betting legal in the US?
Matched betting itself as a smart betting strategy is legal in every country, and every state of the US where sports betting itself is legal. In the US sports betting is not regulated on the level of the country.
Each state has its own gambling regulation. Some states are allowing gambling activity on certain websites, some of them have their regulations in progress and some of them are still restricting this activity.
Matched betting is a viable income source in the long run if you have access to a big number of bookmakers.
Down below you can see a map about the stage of gambling regulations in the US by states. In 21 states + DC sports betting is legalized and you can practice matched betting. In the other 6 states of the US sports betting is legal, but the laws are not yet put in action.
For an in-depth analysis about matched betting in the US click here.
How do bookmakers react to matched betting?
Matched betting itself without arbitrage betting is not so easy for the bookmakers to spot. If you are not abusing bonuses, for example only placing bets when you have a bonus offer, your account will live longer.
For every matched bettor 90 normal bettors are losing money in the long run. If you do not have outstanding winnings on your account, you will face limitations late enough to make good profits from sports betting.
Bookmakers, in general, are restricting, limiting smart bettors. Their goal is to make a profit on every client so at the moment you are flagged as a winner, in the long run, you will face limitations on your maximum stake.
For more information about how to avoid limitations, you can read the following article.
Matched betting is a guaranteed way of making money and it is legal in every country where sports betting is allowed.
Matched betting is not a scam at all, it’s a method for normal bettors to make a guaranteed profit from bonuses offered by bookmakers.
As long as you are following a proven, profitable betting strategy like arbitrage betting, matched betting or value betting, you are not a gambler.
Matched betting itself as a smart betting strategy is legal in every country, and every state of the US where sports betting itself is legal.
If you are not abusing bonuses, for example only placing bets when you have a bonus offer, your account will live longer.