How Safe is Matched Betting?
Reading time: 4 minutes
Matched betting is often touted as a safe way to make some cash, and in most senses, it is. However, does this tell the whole story? Just how safe is matched betting? Let’s take a look.
Matched Betting is Safe When you Pay Attention
Matched betting can be pretty tricky to understand when you are a beginner. It’s possible to run into some problems (like with anything), especially if you don’t know what you’re doing, or you don’t pay attention to guides and advice.
If you jump into matched betting without a clue what is happening, you could find yourself running into issues quickly.
Matched betting is essentially risk-free in terms of the strategy; however, the main issue many people face (which can lead to lost cash) is not understanding the promotional offers they are trying to take advantage of.
When matched Betting goes wrong, it can lead to free bets not being triggered. Since the whole concept of beginner’s matched betting revolves around triggering promotions to qualify for free bets then, we’re sure that you can appreciate that this isn’t a good thing.
It’s important to pay attention to what you are betting on. Don’t rush ahead without understanding the basics. For example, you want your two bets as closely matched as possible with matched betting. If you get this wrong, you are just needlessly minimising your profits.
Most of the risk has been eliminated, and matched betting becomes safe if you pay attention. See our guide to simple matched betting to find out more.
There Are Some Dodgy Bookies Out There - Picking the Right Offers
There are a lot of online bookmakers, and not all of them are good for the matched bettor. Some of them may make it very hard to receive your cash. They will take your money, weaselling their way out of giving you promotions or denying your fair withdrawal of funds from your account. Be careful, as some matched bettors have fallen foul of this, but it is easy to avoid.
As we outline in our Top 10 Tips for Matched Betting, it’s best to avoid deals with high wagering requirements. These requirements can be hugely time-consuming eat up your bankroll. Choosing these offers can even lead to an unprofitable outcome in the long run (despite what they say in their flashy promotions). Remain cautious even when you’re more experienced and, as a beginner, avoid them altogether.
To help you pick the safest and most profitable offers (and to give you clear guidance on how long they take, for example), it’s essential you only do the offers suggested to you on respected matched betting sites.
Don’t just register for a site because it looks like they have a fantastic promotion. Register because you know they are good and recommended and that you have a step by step guide to complete (and community support too). See our post on how matched betting can go wrong for more info.
If you have less time to hand but still want incredible support, then maybe you could benefit from your own personal matched betting expert? If so, you may want to consider signing up for Profit Squirrel Lifetime VIP. See our full review for 2022 here.
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Bookies Aren't Fans of Matched Betting
Matched betting isn’t illegal, but bookies still probably, on the whole, do not like it. After all, why would they want to keep giving away free cash to people? It makes no sense for them to want customers who only take value rather than those that repeatedly take out the usual ‘mug’ bets that bring them so much profit.
Bookmakers have closed accounts due to people taking advantage of these free bets (as they see it) and not doing much else with their accounts. Those who take too much value can be banned or have their accounts restricted (known as gubbing).
It’s horrible news to lose access to any promotions you have triggered or even risk losing your recent earnings (your general deposited funds should be safe). Some resort to ‘mug betting‘ to try and reduce the risk of gubbing, but it is ultimately unavoidable, and it’s best to move on to the next bookmaker and not overly worry.
Matched Betting Can Lead To Gambling?
Where we see the most significant concern is the worry that you will naturally be susceptible to start gambling by doing matched betting. We do not believe that this has to be the case and thousands of people are successfully matched betting and never gamble. However, it’s important to never fall into the trap of actually betting on events, however tempting this might be.
The key to matched betting is to bank the consistent recurring profits each day, week and month that lead to fantastic results at year-end.
Don’t be tempted by the long-shot bet; stick to the principles of matched betting, and you will be fine. Despite no gambling taking place, placing multiple bets is an essential part of matched betting, so if you have previous issues with gambling or simply being around this environment may be a problem, then it may simply be best to stay well clear of matched betting entirely.
Is Matched Betting Safe? - Final Thoughts
So, is matched betting safe? It’s legal and not gambling, and it’s safe if you know what you are doing. Like any moneymaking venture, there will be pitfalls. However, if you pay attention and don’t fall into the gambling trap, you should be fine.
When you are a beginner, it’s best to double-check all your workings, start slowly, and utilise the forum from your matched betting service. Why not try out our free course (see below) if you need further help.