One of the first concerns that newcomers to matched betting encounter is whether the process is somehow illegal or a scam. You can take comfort in the knowledge that matched betting is neither.
In some states of the United States, betting on any kind of sporting event is illegal. Therefore, if you are a resident of the United States, you will want to check your local laws to find out what risks you may face if you decide to try it out. If you are in the United Kingdom or most other parts of the world, you are free and clear. Betting on sporting events is legal in most parts of the world. So matched betting will hold no negative repercussions for you.
Matched betting is, in fact, a legal way to play the gambling system and actually make money from it, by taking advantage of online offers. Most online gambling sites actually encourage matched betting in reasonable circumstances.
When you sign up for a new online betting account on many gambling websites, they offer you “free money” to start. Their hope is that you will see the winnings from matched betting and continue to use their website in the future to place real bets with real money.
The system is so good that people become concerned that the process is “too good to be true.”
They think that there is no such thing as free money. And if someone is offering you something for nothing, then there must be a catch somewhere.
If there’s a catch to the money, it has yet to be discovered by thousands of people around the world who have supplemented their income through the hobby of matched betting.
Of course, as with anything, matched betting takes a great deal of research and know-how. Some get into matched betting without really knowing what they are doing. When they “fly blindly” into the process, they may place bets incorrectly. Or not be able to reap the rewards they had originally hoped for. This can cause a lot of people to give up on matched betting before they ever fully understand how it works.
These individuals may feel scammed and post negative opinions about matched betting online. Some will consider them to be legitimate reports. And they will develop a negative viewpoint of matched betting because of these reviews.
If you study and are knowledgeable about matched betting before you become involved in the hobby, there are no risks. Unless of course, you decide to purposely break some terms and conditions.
Developing multiple “fake” accounts on the same system for the purpose of matched betting is against many websites’ terms of service. If caught, you can lose all of your betting accounts and any winnings that they feel were achieved unfairly.
If you play by the rules and know what you’re doing, matched betting will be a legitimate way to earn money.
Get started on your journey by checking out our in-depth guide to matched betting for beginners.