Matched Betting with Profit Accumulator Discussion

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Hey Guys, I have been reading around and everyone says that matched betting is legal but I am still afraid as I did not manage to find anything within the law related to this.
So guys:
Is Matched betting legal ? (Could you get in trouble, such as being fined etc.)
Is it legal to use the site and make profit from it ? (Profit Accumulator)
If you do not have a job, do you need to pay tax ?

Thanks

Reply 21

sazzle1989

Original post by patienceisvirtue

I'm bit confused generally the max you can earn is 2K A month or 24K a year in some eexception more.

Why can't you earn more

I wouldn't say the maximum you can earn is £2,000 a month but you do have to dedicate a fair bit of time to reach those numbers every month.

If you read the forums in the private are of profit accumulator there is a monthly earnings forum that people post how much they made in the previous month and how they achieved it.

You see some crazy earnings in there from people who do it as a full time job pretty much. It's like anything, you'll get out of it what you put in to it.

Reply 22

sazzle1989

Original post by theChildd

Hey Childd,

To put your mind at rest matched betting is completely legal and you also don't have to pay any tax on the money you make.

Profit accumulator has got thousands and thousands of members so you will be quite safe joining them and making some easy money along with everyone else.

Good luck with it and hope you do well.

Reply 23

DiddlyDiddly96

Original post by sazzle1989

wouldn't be so sure, heard their software is completely gone down and nobody's making a thing

Reply 24

Heidihi7894

Their software doesn't work and shows incorrect odds and loads of people complaining. I have friends using them saying they delete any negative comment on the forum. Avoid PA at all costs.

Reply 25

Joshale

Original post by Heidihi7894

Their software doesn't work and shows incorrect odds and loads of people complaining. I have friends using them saying they delete any negative comment on the forum. Avoid PA at all costs.

Haha what, if anything the mods are some of the best

Reply 26

BodhiUtah

Found this list with over £500 in free bets at citysharks.co.uk ! Does anyone know any other betting sites not on the list?

(edited 7 years ago)

Reply 27

Sheehan_1

I've just started my self but only to the point where I'm doing the free sign up offers. Any advise before I get on my way

Reply 28

aroniglenn

Original post by Sheehan_1

I've just started my self but only to the point where I'm doing the free sign up offers. Any advise before I get on my way

I'd say carefully follow the instructions and work hard at it, and don't give up when you make a mistake or don't understand something. Perseverance really is the key.

I would also say make sure you're subscribed to an advice service; Profit Maximiser and Profit Accumulator are the big 2 in the market.

Matched betting is often made to seem a lot easier than it is. In reality, it does take time to learn, however once you have learnt the skills - matched betting is a fantastic skill to have.

Best of luck!

Reply 29

aroniglenn

Original post by BodhiUtah

Found this list with over £500 in free bets at citysharks.co.uk ! Does anyone know any other betting sites not on the list?

There is also one worth £50 on Bet365 Mobile that is often missed. Have you done that?

Reply 30

Roman95

Seems like an interesting way of making money, I wonder how legit it is. Gonna check it out and post here

Reply 31

Birchy23466

Hello, I've joined Profit accumulator and would like to get started as soon as possible. I've got £120 in my bank account so I need to know if this is enough to get going? I'm a bit worried about doing this but I've got accounts with Coral and Ladbrokes and would like to get involved. I'd be happy to earn about £300 each month if possible. I've got fed up with losing money on normal bets.

Reply 32

Wimbledon_mom

Hey, I would look to take it steady early on, and learn the ropes. Once you've got the hang of it, then you'll feel more comfortable taking on the larger offers (with higher profits).

I wouldn't recommend going for Profit Accumulator. I know that over on the Moneysavingexpert forums they are very critical of the site.

I've set up a website (matchedbettingadvisor.com) that sets out a beginner's guide to matched betting. It's completely free to use. I've written up some step by step walkthroughs, and some guidance on how to maximise your returns and pitfalls to avoid.

I'm trying to get the site off the ground, so take a look - I hope you find it useful!

(edited 7 years ago)

Reply 33

Najma2017

Hello
I am really interested in PA
I feel so lost and I am not getting it.
Can someone please help?
thanks

Reply 34

Wimbledon_mom

Original post by Najma2017

Hello
I am really interested in PA
I feel so lost and I am not getting it.
Can someone please help?
thanks

Hi Najma2017,

don't worry, it can be a bit daunting to start with. Matched betting isn't necessarily very intuitive - but rest assured, once you've done a few matched bets, you'll get the hang of it.

The general principle is that you place a bet at the bookmaker, and then place an opposite bet elsewhere (normally at a different type of bookmaker called an 'exchange'). The idea is that if you bet at the bookmaker is on say Man Utd to beat Man City, the second bet you place at the exchange is for Man Utd to NOT beat Man City (i.e. for them to draw, or to lose to Man City).

By betting on both sides of the equation, you won't lose (apart from a little bit on the commission, but ignore that point for now..), as either one bet or the other will win.

Why bother doing that? Because bookies offer you free bets if you place so-called qualifying bets. And you can use the same matched betting technique to make a profit from these free bets.

If you want a fuller, step by step walkthrough, please go to my website (see the post above for the link!), as I've set out a clear step by step walkthrough so you can get to grips with it.

It's also free, so you can use it without making an up front cash commitment (if in the end you don't think it's for you, there's no faffing around trying to cancel a subscription etc).

Let me know if you have any more questions, happy to help out!

Reply 35

Bobby871

The reality is you can't earn more than £2k every month because of the way offers are valued and they are only valid for one user ID. If anyone's new to all this and wants to learn from step-by-step video tutorials - search for "Profit Squirrel".

Reply 36

Bobby871

Original post by Najma2017

Hello
I am really interested in PA
I feel so lost and I am not getting it.
Can someone please help?
thanks

PA's tutorials are not ideal for newbies, they don't deliver step-by-step tutorials. I would advise you to search Profit Squirrel. They are a premium service and will support you every step of the way! I've also seen a 20% discount code flying around - "COFFEE20" . Try that for good measure :smile:

Reply 37

parsn1p

Seems interesting might have to give it a go

Posted from TSR Mobile

Reply 38

tonymac84

Original post by patienceisvirtue

I'm bit confused generally the max you can earn is 2K A month or 24K a year in some eexception more.

Why can't you earn more

It's what you can realistically earn after exhausting the signups. At that point, you'll need to use reload offers and almost all of those are one time deals for the specific event. E.g. Money back if football match ends as a draw up to £25 = You can only get a £25 free bet (equates to £20 cash) from that offer. There are plenty of offers but £2,000 per month is a realistic target for your time and effort

Reply 39

chris_h1976

Hey folks, I'm thinking of getting into matched betting, just trying to read and learn as much as possible before committing any money. I believe an advice service is also a good idea, which brings me to my question:

Has anyone used the service "Bank of Bets" yet?

I started reading about matched betting on this guys blog "savethestudent.org" and when I subscribed to his mailing list they sent me an early access offer to join the service at a reduced rate. It sounds like a good service, but I've not got any experience to compare it to. I think it may be a newer service. So I'm just wondering if "Bank of Bets" is as good as PA or any of the other ones?

Thanks in advance.