We understand that there is a lot of skepticism when it comes to starting out in matched betting. In this article, I would like to explain to you, how matched betting is perfectly legal.
Once I had first discovered matched-betting, I was surprised to find that you can actually make some meaningful cash, legally, through risk-free bets. After doing a little more research, I had learnt the matched-betting process and felt confident in placing my first bets.
Matched betting involves placing bets on all outcomes of an event. First, we place qualifier bets (these are bets that we have to place in order to qualify for the free bet). We will break even on the qualifying bets because one bet will win and the other will lose, resulting in us breaking even. After those qualifying bets have settled, the bookmaker will issue us with our free bet.
We then place bets again, we will place a back bet and a lay bet. We will place our back bet using our free bet that the bookmaker gave us. We will then pay for the lay bet. Just like with the qualifying bets, we have now bet on all outcomes of the event, this time, instead of just breaking-even, we will make a profit (as we used a free bet).
You’ll also be glad to know that your matched-betting winnings are all completely tax-free. All bet winnings in the UK are tax-free, as we placed bets, we are technically betting so this applies to us (even though we are not gambling as we are betting on all outcomes so there is no risk).
If you found this article difficult to understand, please take a look at our explainer video below: