Is matched betting legal?!
I was searching google earlier looking for some inspiration to write up a new matched betting blog post and one of the google suggestions for matched betting was, is matched betting legal? This means that a lot of people must be searching on the internet to find out if matched betting will get them in trouble with the law. I myself once questioned this back in my early days of research about matched betting as i did not want to get into something that could end up with me facing some kind of lawsuit!
So back to the question in hand, is matched betting legal? Yes, matched betting is perfectly legal as long as you stick to a few rules which quite often some matched bettors break to try and make more money.
The bookmakers themselves do not like us matched betting as we are taking away value constantly from them and as a business they want to try to make money. By matched betting we take that opportunity away from them and make sure that we end up in profit and this fully ticks off Mr bookmaker, so much so that he will gub and restrict your account for it. How long this takes depends on how you go about your matched betting and for more information about the subject i recommend you have a read of our how not to get gubbed matched betting guide as this is full of tips and tricks to help you along your way. Still just because the bookmaker does not like you for doing it, that does not make matched betting illegal and you are perfectly within yours rights to fill up your wallet with no risk cash!
I actually read an article on the Betfair website a few weeks back that made me chuckle, if you already matched bet you will know that Betfair are one of the quickest bookmakers to gub people for matched betting practices. So i find it very ironic that they themselves have a matched betting guide on their betting exchange website telling you how to do it! You see they need matched bettors on their betting exchange as they take commission from our lay bets but they do not like us matched betting their sportsbook, quite a predicament! Here is a look at their guide for you to see for yourself, Betfair guide.
Matched betting is legal, completly in the UK. That is until you start being shady with your betting accounts and cross over to a very grey area of the law. The problem is that with the bookmakers tightening up and closing down accounts for matched betting many people end up turning to something called multi-accounting.
Multi-accounting is where a person opens more than one account with a bookmaker (usually after their first account has been gubbed) and then start their matched betting again from a fresh account. Is this illegal? well it is a bit of a grey area, If you manage to open up a new account with your own details and a new bank account and email then i am led to believe you have not broken any laws. You will find yourself in a whole world of trouble though if the bookmakers catch on as they are perfectly within their rights to cancel any bets and confiscate any money that is in your account, it would then be up to you to prove that you are not multi-accounting (good luck with that!).
However the law is not such a grey area when people multi-account by opening new accounts in other peoples names with other peoples identification. This is at the end of the day fraud and as such your account will be frozen, funds confiscated and possibly legal proceeding started against you, this is not legal matched betting!
My advice is to stick to one account with each and take actions to delay getting gubbed, do not take the risk of having your account frozen and funds taken away.
I hope this has answered the question of is matched betting legal for you and if you are now ready to start placing your first matched bets why not take a quick look at our step by step matched betting guide to get you on your way!
Keep checking back to our matched betting blog for more articles, guides and free bets.