Is it Legal to do Matched Betting?
Matched betting has gained popularity as a strategy for making guaranteed profits from bookmakers without risking your own money. However, concerns about its legality often circulate, leaving potential participants hesitant. Today we’ll discuss whether matched betting is legal or not, address some of the common questions and dispel any misconceptions.
Is Matched Betting Legal?
The short answer is yes, matched betting is legal in all US states where online sports betting is allowed. The only requirement is that you are of legal age for gambling. In most cases that is 21. However, there are some exceptions like Kentucky and Tennessee where the minimum age is 18. Make sure you check the minimum age for your state before you get started with matched betting.
2023 was a year in which we saw more and more sportsbooks becoming available in the US and expanding to new states within the country. Looking into 2024 and ahead, taking advantage of free bets and bonus offers will only become easier than ever before. If you are living in a state where online sports betting is legal and are above the required minimum age, then you can easily and legally use matched betting as a way to earn an extra income.
Let’s take a look at some common questions and misconceptions related to matched betting.
Isn’t Matched Betting a Form of Gambling?
Matched betting is often mistaken for traditional gambling, because it crosses paths with games of chance. The misconception comes from the fact that matched betting uses online bookmakers and real sports events to turn bonuses into cash. The difference, however, lies in the way these bets are placed. With traditional gambling, we rely on chance and luck; with matched betting, we rely on a purely mathematical approach to guarantee profits regardless of the outcome of an event. So, contrary to gambling, matched betting is a strategy that involves no risk when executed correctly.
Will Bookmakers Ban Me for Doing Matched Betting?
Bookmakers are aware of matched betting, and while they may not love it, there is no law against it. Bookmakers may restrict or close accounts for various reasons, but this is usually due to patterns that suggest the account holder is exclusively exploiting promotions or for not respecting the terms and conditions for the use of the platform. Successful matched betting is possible by following the guidelines of a trusted and competent website, such as ninjabet.com
Are There Any Tax Implications?
In many jurisdictions, profits earned from sports betting are not subject to income tax. Matched betting falls into this category, as profits are considered gambling winnings. However, it is advisable to check the specific tax regulations in your country to ensure compliance.
How Much Time Do I Need to Invest?
With the right tools and tutorials, along with a community of other members who share their tips and tricks, matched betting can be done investing only a few hours a week. This is because, although matched betting is legal, it is not easy to do it correctly and efficiently in a timely manner. Doing it on your own, you will need to spend countless hours finding the most profitable offers, searching and matching for the best opposing odds, calculating profitability per offer and ensuring that no losses are incurred.
NinjaBet.com is the largest and most experienced matched betting platform worldwide that offers all the tools and guides that you’ll need in order to do matched betting legally and securely. This means finding the best offers, providing you with different strategies to convert each bonus, filtering the best opposing odds for you in a matter of seconds, helping you keep track of your profits, answering all your questions and guiding you in real-time. Starting with a free trial with NinjaBet.com will earn you your first $100. Deciding to become a premium member and continue earning after your free trial is then up to you.
To Wrap It Up
Matched betting is a legal way for individuals to profit from bookmakers’ promotions without violating any laws. As long as participants are of legal gambling age and adhere to the terms and conditions of bookmakers, there are no legal issues associated with matched betting.
It’s crucial to approach matched betting with responsibility however, understanding that bookmakers may monitor accounts and take action if they suspect misuse. By staying informed and following best practices, individuals can engage in matched betting confidently and legally, enjoying the advantages of guaranteed profits.
