If you’re reading this, you probably know that it’s absolutely possible to make a consistent profit from bookmakers. Whether you’re Matched Betting, Arbitrage (also known as sure bets) or Value Betting, trading on an exchange or in play betting you should know that all can provide a positive edge and profit. Whether it is guaranteed or not very much depends on the system you’re using. Matched Betting and Arbitrage will always make you a profit (unless you’re betting offshore with unreliable bookmakers or you make mistakes). Other systems such as Value Betting will make you a profit in the long term but there are going to be swings due to variance which can be off-putting for many. The problem with all these systems is that bookmakers do not like winners. This is not a level playing field. They are more than happy to take your money but if you start winning they will at some point restrict your stake size or even close your account.
When your account gets restricted or closed due to the fact you’re making money, then why not just use one of your friends or family’s account? This is exactly what you should do but it is not without risk. The most important point to stress here is, never make up fake details or photoshop documents to get a sign-up bonus, offers, or just to have an account that you can use. This is straight-up fraud and can get you into serious trouble. Also, although you can quite easily buy verified Bet365 accounts with associated paypal or skrill accounts and make decent money, you’re going all-in on the black market and if something happens, you’ve got absolutely no recourse if you lose money through people reclaiming the account or the bookmaker shutting you down and taking your money.
Bookmakers love to throw out the term “fraudulent” to scare people. I used to run a site in Sweden (it’s still there but wasn’t worth keeping updated after the Swedish regulations prevented reload bonuses) that had all the profitable casino offers. I was able to get affiliate accounts with them which just occasionally made me money but they often refused to pay out due to so-called “fraud”. Let’s be clear, this was in no way fraud in a legal sense. Most bookmakers will use the term “fraudulent” if it’s against their terms and conditions. It works for them as it scares people and in many cases enables them to not only keep the profits, but also the initial deposit. Don’t be fooled by this. Pretty much every bookmaker has terms and conditions that prohibit taking advantage of their offers for profit and they will label any breach as “fraudulent”. Bookmakers loved to with-hold affiliate payments due to what they called “bonus fraud” or “bonus abuse”. This was purely just players taking advantage of sign up offers to make a profit. Matched Betting, Value Betting may be breaching a bookmaker’s terms and conditions but this doesn’t put you into any kind of legal jeopardy unless you’re falsifying documents.
Having said this, if you are multi-accounting, then you do need to be careful so as not to risk having your profits and in exceptional circumstances, deposit confiscated.
- Never use the same ip-address of an account that you’ve already had an account on. Take care when logging on as it’s easy to occasionally log on with the wrong details. If possible, use a separate mobile phone and disable the wifi. Ideally, use a separate mobile phone with the wifi disabled. Having a dedicated phone for the other person’s account will prevent mistakes.
- Don’t use VPN (not such an issue with regulated bookmakers but is against may offshore betting company’s terms and conditions and in extreme cases can lead to them stealing all your money). It’s worth noting that if you travel abroad your IP address will still register as the country where the sim-card is from and not from where you physically are (although turn off location services as there’s some evidence to suggest bookmakers can get location data outside of the IP address, especially if you use their app).
- Ensure you have access to a separate bank account in the other person’s name. You will never be able to withdraw to a bank account in a different name. Unless you’re doing sign-up offers you can generally get away with using Skrill or Neteller. Also, have copies of that person’s ID and proof of address in case you’re asked for verification. You will obviously have to let them know and ideally, they will set up a separate account that you can use exclusively. On very rare occasions the bookmaker may require a phone call with the account holder to verify that it’s the same person who’s placing the bets. Be aware of this. It doesn’t happen often but if it does, they need to be on the phone and it’s important they never say that someone else has access to the account. If you’re in a country where gambling is regulated and you’re sticking with bookmakers who have a license in your country this is very unlikely to happen but it’s worth taking into consideration.
- Agree with the person whose account you are using that you’ll either give them a flat rate or a percentage of the profits. Betting accounts (especially Bet365) can be insanely profitable if you know what you’re doing. If you’ve got this far in this post and you don’t know how to double your investment in 3 months, then check the Value Betting blog on our site (full disclosure: I conscripted my wife into doing this).
- Most importantly, you can’t just walk down the street and run accounts for any random person you meet. There has to be a high level of trust. At some point, you’ll be withdrawing large amounts of money into their account. If they decide to keep this money then there’s very little recourse for you. Keep the person fully informed as to what you’re doing. Make sure there’s something in it for them, let them know that they may have to provide you with additional ID and documents from time to time and don’t get greedy. There will ususally be a high level of scepticism but as long as they’re making money then it can be mutually beneficial.
Disclaimer: I’m not a lawyer and everything stated in this article is based on my experience and opinion and should in no way be taken as legal advice. Feel free to join our Slack group if you have questions, want to discover more ways to make money from bookmakers or just want to talk to me personally with feedback regarding this post.