Matched betting is increasingly popular and totally legal, but it is still officially a form of gambling. One thought that will cross everyone’s mind when dealing with a bookie is, “Will this eventually damage my credit rating?”
If this is your first time coming learning about matched betting, be sure to check out this matched betting for beginners post.
Matched betting gives the player a special edge: because many online bookmakers offer a free signup bonus in the form of a free bet, a new customer can sign up at the website, place a bet, lay a bet against it on a betting exchange with the free money, and win either way.
Of course, the free offer can only be done once on each website, which means you will find yourself signing up to a lot of different bookies.
I can understand why you would be worried about how that looks on your credit rating.
Let me put your mind at ease. Matched betting does not affect your credit rating.
How To Check Your Credit Rating
If you’re still worried, you can check your credit rating through an agency such as Experian, which offers a 30-day free trial. You can get proof for yourself whether your credit is affected by participating in matched betting.
But I’ll save you some time and reassure you that it is not affected! There will be no negative reports on your credit because matched betting is totally legal and does not involve credit.
Do Any Bookies Carry Out Credit Checks?
Yes, some bookies will do credit checks on their customers, but this is not out of the ordinary– after all, they are entering into a business transaction with you, and just want to make sure your account remains in good standing with their business.
A spokesman from Experian said in this article from The Guardian:
“It won’t appear on the credit reference radar. You can have as many gaming accounts as you want.”
That’s a pretty conclusive answer. The number of accounts you have with different bookies will not damage your credit score.
Still Worried? Ask Other Matched Bettors
If you are still worried you can always sign up to a community of matched bettors and ask them what their experiences are. The most popular one is Oddsmonkey. With over 250,000 posts in their forum, all from other matched bettors.
Check out my Oddsmonkey review for 2017.
Are There Any Other Risks?
The biggest risk with matched betting is human error or developing an addictive habit and finding yourself straying from the system and not being able to stop when you know you should. If you feel you aren’t in control, contact GamCare for help.