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In this article we’re going to look at the subject of matched betting with multiple accounts – and by that we mean having more than one account at the same bookmaker. This is done by holding accounts that you run in other people’s name (friends or family members), not just your own.
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When using this matched betting guide, you’ll realise our profit always comes from the free bet. With so many online sports betting sites offering free bets, it is very unlikely you’ll run out of them so don’t worry there are always more free bets up for grabs. The best matched betting sites will help you hit the ground running pretty quickly. However, it’s important to remember that you’ll need to make a back bet and a lay bet. Your back bet is money you put on an event you want to happen. Welcome to the free. Matched Betting USA. Beginners Community. All the guides, tools, tutorials and support you will need to begin your arbitrage matched betting journey, all completely FREE. Join the community to get started today.
Matched betting is one of the safest ways to gamble and has become one of the easiest ways for beginners to get started. However, this method greatly depends on the free offers provided on matched betting sites. Without any guidance, it can be extremely time-consuming to comb through gambling sites for free offers. We compiled a list of offer. Matched Betting Spreadsheet - Profit Tracker It is very useful to track your profit and your bookmaker balances - nothing beats seeing a profit figure rise up and up! But setting up your own spreadsheet can be time consuming and it may not have all the features you would like.
In the matched betting community, this has been nicknamed ‘gnoming’. It’s also known as ‘multi-accounting’.
Honestly, you’re not going to find this written about very openly on the internet as it’s a taboo subject, even among matched betters. But it’s clear there are people doing it. Plenty admit to it on internet forums. And, of course, it’s allowing them to make much more money than if they had just one set of accounts. So maybe it’s worth a look.
In this article we’ll take a look at some of the things that you should consider if you’re going down this route.
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Just a word of caution, though: this does not constitute any legal or tax advice. The below has been put together as a collection of viewpoints based on what others have told us about doing it. What you choose to do with this information is entirely your responsibility.
Is matched betting using multiple accounts legal?
In matched betting, you pose as a regular punter in order to harvest offers and freebies from the bookmakers – all the while you’re actually laying off your bets in a risk-free way so you’re guaranteed profits. Although it’s perfectly legal, some might view it as an inherently murky activity.
Doing matched betting on your own account is already not really in the spirit of what the bookmakers want you to do (and we know this, because they will close your accounts if they suspect you of being a matched better). But does the idea of running multiple accounts at a bookie – using the names of friends and family – cross an altogether different line? Might it even be illegal?
As we’ve said above, we’re absolutely not in a position to give you any legal advice on this. Whilst we haven’t seen anything definitive on the legality of operating bookmaker accounts on behalf of others – either saying it is or is not legal – if you choose to go ahead with this activity, you do so entirely at your risk. It’s extremely grey territory.
One thing, however, is clear. If you’re setting up accounts with bookmakers on behalf of other people then you must have their permission. To do so without that would be identity theft. And you won’t get far with it anyway, for the following reasons:
- You may be asked to provide identity documents, and background checks to open accounts.
- Bookies are likely to require you to fund those accounts using a bank account in the same name as the customer (and even if they don’t, making transfers from seemingly unrelated bank accounts is likely to arouse suspicion).
So, first things first, make sure that you have the permission of the other person, and tell them what you’re doing. If they’re not fully onboard with it, then leave it well alone.
Getting the cooperation of friends and family
Having explained the concept to the friend or family member, if they’re still prepared to listen to you, you’re going to need to agree with them how this is going to work.
They’re unlikely to let you make money using accounts in their name if there isn’t something in it for them. Get ready to give them some cash.
It seems that people have tried two methods to compensate the other party:
- Offer them a percentage of your profits
- Offer them a fixed monthly payment
From the feedback of those doing it, the latter option is the clear favourite. Giving them a percentage of the profits makes the arrangement more complicated. You’ll constantly have to calculate the amount due, and they may have suspicions you’re not being entirely honest / accurate anyway.
With a monthly fee, things are clearer.
Setting up and operating a multiple matched betting accounts
Keep in mind that the bookmakers are always on the lookout for irregular activity. So anything that doesn’t fit with the profile of a normal punter will raise suspicions. If the bookmaker realises what you’re doing, they will close your gnoming account, and may also gub your own one too!
The feedback, from those using multiple accounts, is that you’ll want to consider a number of important safeguards:
1. Use different addresses and bank accounts
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Whilst there are plenty of stories of people having opened up accounts at bookmakers in the name of their wives, not all bookies are open to that sort of thing. Ideally, you don’t want to open up too many accounts under one address. If a bookie sees that you’ve opened 5 accounts at one address for you, your sister, your mum, dad, and gran – they’re probably going to look into that.
But don’t just make up addresses, they need to be where the person actually lives! You may be asked for proof of address.
You also need to use different email addresses.
Equally, you want to be using different bank accounts. There’s more on that below.
2. Use different IP addresses
An IP address shows a bookmaker where you’re accessing the internet from. Again, too much activity coming from one IP address may result in your accounts being flagged.
The chat amongst matched betters is that you want to use a different device and connection for each set of accounts. Many of them have got cheap phones (on a SIM only plan – do NOT connect it to WIFI or it will use the same IP address as anything else using that WiFi connection) to avoid it looking like there are multiple people using the same IP address and device
If that seems a bit much, you could always try getting a decent VPN, which will hide your real IP address when you use the internet.
3. Vary behavior between accounts
Here, the advice seems to be to try logging into accounts at different times and varying user behaviour slightly. If you’re doing identical bets across all accounts at much the same times then that could raise some questions.
Laying bets at the exchange, for multiple bookmaker accounts
The betting exchanges, where you place your lay bets, don’t care if you’re matched betting. They’re also not the ones giving you any bonuses where you make your profits.
So, even if you’re running accounts at the bookies in a dozen different names, you can just use a single account at the exchanges. There’s no problem with that, but bear in mind that you might need to increase the size of your cash float in order to have enough capacity for your lay bets.
Bank accounts for multiple matched betting accounts
Transferring into a betting account from a bank account that doesn’t match the user’s name is suspicious, and in many bookies might not even be possible. So you need to make those transfers in from account in that person’s name
The banking situation is, for us, the greyest area out there. Some people recommend that you set up a new account in the person’s name (obviously with their permission) and you have control over it, and the debit card is in your possession. Not a single bank out there would consent to, or recommend, this arrangement – but people clearly do it. This arrangement has clear risks for both the person whose name is being used, and the person setting up the account.
So many new bank cards that you’re going to need a new wallet
Having control of that account also makes it possible for you to get your profits out of it too. Otherwise, if you don’t control the account, you’re relying on the other person to constantly make transfers out to you and in to bookmakers. If that person is on board with the whole idea then that may not be a problem, but it’s going to slow the whole process down a little. It may also take quite a bit of explaining over why various payments need to be made.
Note that it might also take some explaining to them if you’re making very big profits in relation to the amount you’re paying them!
Tax implications of matched betting on behalf of others
Whilst winnings from bookmakers are tax free, we’re not in any position to tell you what the tax situation is where you’re matched betting on behalf of other people. We’ve seen nothing authoritative that clears this up.
Is there an argument to say that you’re providing a taxable service on behalf of others? Do they need to pay tax on the money that you might be paying them for this arrangement? These are all things that you’re going to have to consider for yourself – and for full disclosure you may want to mention this risk to the person you’re doing it on behalf of.
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Conclusion: Matched Betting using other accounts – is it worth it?
We mentioned right at the start, this isn’t something we’ve got into ourselves. The whole thing is fraught with issues – which we’ve covered above.
Aside from the legal and tax uncertainties, a significant issue is having to explain the idea, and the risks involved to someone else. On top of that, you need their help – or permission – to manage the cash payments and receipts. Unless the person trusts you a lot, they’re likely to be a little suspicious of the whole idea. Most instances where we’ve heard of people operating multiple accounts is where they’re doing it on behalf of a spouse.
Trust between you both is paramount. These sort of arrangements can end in tears, with suspicion or jealousy causing a fall-out. If the other party becomes difficult and decides to complain to the bank or bookmaker then it is going to cause you a lot of trouble and your own accounts will most certainly get gubbed. At worst, you might even end up in court.
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Whether you get involved in this is, ultimately, something for discussion between you and the other person. For many, like us, it’s not something we’ll be rushing into soon. But, plenty of people are – and perhaps it’s that which explains some of the seemingly unbelievable matched betting profits you hear people reporting.
Whatever you choose, good luck!
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