The Guardian on Matched Betting

August 2, 2011

During the past year or so matched betting has attracted an unusual amount of media attention. Trust-worthy news sources, such as The Guardian and The Telegraph have covered matched betting, publicly confirming that it is indeed a legitimate (and highly profitable) way to make money.

The Guardian first covered matched betting in the June of last year. The article begins rather boldly:

With bookmakers offering ‘free bets’ to tempt new customers, you can play the system and pocket hundreds of pounds – with little risk to your own cash.

While this is obviously true, you can imagine what kind of attention such a claim attracted, especially considering today’s economy. The article then proceeds with a brief explanation of how matched betting works.

Later on, they address a more serious concern that people have about matched betting, namely, whether it has any effect on a person’s credit rating.

Opening and funding lots of bookie accounts should have no effect on your credit scoring. Santander says “credit scoring and ratings are a result of whether the account is kept in good order or not … that has no bearing on the type of transaction.” Credit reference agency Experian says that the gaming companies don’t currently share any account data with their industry. “It won’t appear on the credit reference radar. You can have as many gaming accounts as you want,” a spokesman said.

In just a few weeks another article was published on The Guardian. This ‘time it was inspired by the aforementioned article: another reporter from the Guardian wanted to see if matched betting is really that simple. This is what he discovered.

I was a financial adviser for 10 years until I sold the business a year ago. I think I have a more critical and suspicious mind when it comes to money-making schemes, especially ones that purport to be risk free.

There is an old proverb that says: “In a bet there is a fool and a thief”, and I’m not inclined to disagree. Could I really sit in front of my screen and make money from the bookies for nothing?

The answer, to my surprise, was yes. Over the past month I have researched and used every decent online free bet introductory offer from a bookie. I’ve taken up 31 offers so far – and I’ve made in the region of £770.

The money I have made has been absolutely risk free, it’s not been about gambling but about playing the system – and it was inspired by Guardian Money. I don’t even have to pay tax on my winnings.

Then the author goes on explaining that this money wasn’t completely free and that he had to spend hours in front of his computer:

That said, it has not been completely free. I have had to sit in front of my computer screen, spending an hour or so most days over the past five weeks, working through the offers. But even factoring that in, it works out at around £22 per hour tax free.

I don’t know any other way anyone could make £22 per hour tax free, working from home. If you know anything better, please let me know. :)

Leave a Comment

Previous post:

Next post: