So once you’ve opened an account and made a profit using the free bet with matched betting, the obvious next step would be to open another account with the sportsbook to get another one, right?
WRONG. This is known as “multi-accounting” and is against most, if not all, sportsbook policies. Before you start your matched betting journey, it's important to make sure that you are aware of the ethical and legal boundaries involved in maximizing your profits.
In this article, we’ll look at what exactly multi-accounting is, why you should absolutely avoid it and how using an effective matched betting strategy can make you just as much profit without the risk.
- Multi Accounting and Matched Betting
- Understanding the Risks of Multi-Accounting in Matched Betting
- Matched Betting: A Safe and Legal Alternative to Multi-Accounting
- Final Thoughts
1. Multi Accounting and Matched Betting
If you're looking to make some extra cash online with matched betting, you may have come across the term "multi-accounting." But what exactly does it mean? What are some examples of it? And why does it exist?
What is multi-accounting?
Multi-accounting involves setting up and using multiple accounts with online sportsbooks in an attempt to exploit promotional offers and manipulate odds.
Individuals attempt to gain an unfair advantage by signing up for several accounts with a single sportsbook using different identities, home addresses or other fraudulent details. Some even choose to use a VPN (virtual private network) to hide their true identity.
A similar practice is “gnoming”, which is where an individual controls multiple accounts for their friends or family members. Just like multi-accounting, this is either discouraged or forbidden by online sportsbooks, and in some cases even illegal. Long story short - it’s a bad idea and something you should avoid 100%.
Here at ProfitDuel, we would never recommend multi-accounting or gnoming as part of a matched betting strategy. It is against the terms and conditions of the majority - if not all - sportsbook operators. At best, it’s bad sportsmanship and at worst it’s fraudulent.
Instead, keep reading to find out how you can make significant, long-term profits matched betting without running the risks of multi-accounting.
Common examples of multi-accounting
Multi-accounting takes various forms. Some common examples include:
- Duplicate accounts: A bettor creates multiple accounts using different details to access the same promotion repeatedly.
- Family and friends: Multiple individuals within the same household or social circle create accounts to capitalize on promotions, which is against most sportsbooks’ T&Cs.
- Identity fraud: Creating accounts with false identities or stolen personal information to engage in multi-accounting. ID fraud is illegal in the US.
- Using VPNs: Some bettors employ Virtual Private Networks (VPNs) to mask their IP addresses and open accounts from different geographic locations, further complicating detection.
Why does multi-accounting exist?
The logic behind multi-accounting is sound. Free bets are on offer when you open a new sportsbook account so the theory would be:
|More sportsbook accounts = more free bets = more profits.
However, it's important to remember that multi accounting is a controversial topic. Instead of being a strategy to boost earnings, it is unethical, fraudulent and against the terms and conditions set by many sportsbook operators. What’s more, you don’t even need to step outside of these T&Cs to achieve the same (if not better!) results. Anyway…we’ll get to that later.
To find out more about how operators feel about multi-accounting, research the policies of each online sportsbook you plan to use. Some may explicitly prohibit the practice and could close your account if they catch you doing it. Others may have specific restrictions in place to prevent abuse of their offers.
Either of the above actions will severely impact, limit or even prevent your matched betting efforts. We’ll look at how these restrictions can impact your profit potential in the next section of this article.
2. Understanding the Risks of Multi-Accounting in Matched Betting
People normally associate a number of risks with matched betting (most being due to a lack of research into the subject). However, engaging in multi-accounting when matched betting is a very real risk.
Why? Because doing can put you at risk of having your betting accounts suspended or permanently closed.
Online sportsbooks and casinos employ advanced systems and algorithms to detect multi-accounting. Account verification may require you to submit identification documents and verify your identity through various means, including proof of address and financial transactions. While this process may seem rigorous, it's a standard industry practice to protect both sportsbooks and bettors.
If you're caught, you could lose the opportunity to profit from future promotions, and in the worst cases, your existing funds may be confiscated.
Matched betting is not a get-rich-quick scheme. Setting realistic and achievable goals is essential. Avoid the temptation of quick riches and understand that consistent, long-term profit is the goal.
Legal implications of multi-accounting
Matched betting is a legitimate method of earning extra cash online, but it must be done within the boundaries of the law.
As we’ve talked about in this article, multi accounting is the practice of creating multiple betting accounts with one sportsbook in order to take advantage of their sign-up offers and promotions. While it may seem like a clever way to increase your profits, it actually breaches the terms and conditions set by these online bookmakers.
By multi-accounting, you are essentially deceiving the sportsbook by pretending to be different individuals and exploiting their offers. Again, as mentioned in this article, multi accounting can result in serious consequences, including the closure of your accounts, forfeiture of any funds in those accounts, and even legal action.
By following the rules and conducting your matched betting activities honestly and transparently, you can enjoy the benefits of this side hustle without risking your accounts. Remember, it's always better to play by the rules and maintain your integrity.
3. Matched Betting: A Safe and Legal Alternative to Multi-Accounting
Multi-accounting might be off the table, but there are alternative opportunities for maximizing your matched betting profits. We’ll look at these in more detail soon, but before that, we’ll quickly cover some matched betting basics as well as the benefits of avoiding multi-accounting.
What is matched betting?
Matched betting is a form of no-risk betting. Instead of relying on luck as you would in gambling, matched betting works by using math and odds, alongside taking advantage of the free bets given out by online sportsbooks.
Most sportsbooks use promotional offers to entice new customers to sign up for their services. Once customers open a new account and place a qualifying bet, they are rewarded for their custom. These free bets are perfect for earning profit online with matched betting.
Matched betting is a fantastic risk-free alternative to multi-accounting that is perfectly legal. If you’ve heard rumors that online sportsbooks aren't fans of matched betting, it’s only because it gives bettors the edge over them; it does not breach any laws.
One of the best things about matched betting is that anyone can do it. You don’t need to know anything about sportsbooks, online betting, or sport! Here’s what you need to start matched betting:
- Live in a state where online sportsbooks are available…
- ...and where legislation to support online sportsbooks has been passed.
- To be over the required minimum legal age in your state.
- An amount of money set aside for a bankroll or starting pot.
- Strong internet connection.
- Some free time you can dedicate to matched betting during your daily or weekly schedule. This is especially important when you’re first getting to grips with the matched betting process.
The benefits of avoiding multi-accounting in matched betting
Now that we’ve looked at how to and why you should avoid multi accounting, it’s time to look at the benefits of doing so.
- Long-term sustainability
By sticking to the rules, you can ensure that your matched betting activities remain sustainable in the long run. Online sportsbook operators are more likely to continue offering promotions and bonuses if they see that customers are engaging with them fairly and honestly.
- Account security
Engaging in multi accounting puts your betting accounts at risk of suspension or closure. Losing access to your accounts not only means losing potential profits but also losing any funds you have already accumulated. By sticking to matched betting, you can protect your accounts and ensure the safety of your earnings.
- Peace of mind
When you play by the rules in matched betting, you can have peace of mind knowing that you’re not breaking any laws or risking losing your sportsbook accounts. This means you’re free to focus on maximizing your profits and enjoying the benefits of this awesome side hustle.
Exploring new matched betting opportunities
So now that you’ve got a clearer idea of why multi-accounting should be avoided at all costs, it’s time to explore some longer-term matched betting opportunities. We’ll also introduce you to an accessible, safe and risk-free solution to achieving all of the benefits you’ve read above.
Here are just some of the ways you can maximize your matched betting profit potential without resorting to multi-accounting. Instead, the suggestions below offer legal and sustainable matched betting opportunities.
- Ongoing or reload offers
These are offers which online sportsbooks give out regularly, often daily. There are also promotions available to celebrate major sports events. For example, the Superbowl is likely to bring a load of offers with it. There is so much profit potential in the long term!
- More sportsbooks
At the time of writing, sports betting is now legal in over 30 states with online sportsbooks available in New York, New Jersey, Ohio and more! As more states open their doors, the opportunity for matched betting will grow too.
- Casino offers
Many service providers offer online casino games alongside their sportsbooks. By taking advantage of casino promotions and bonuses, you can diversify your earnings.
- In-play betting
Betting on events as they unfold can be a lucrative approach. By closely following matches and games, you can often take advantage of matched betting opportunities in real-time.
These are just a few of the options available to matched bettors. There are also more advanced strategies which will further enhance your profits. All of these are sustainable alternatives to multi-accounting and will see you maximize your profits legitimately.
At this point, it’s worth noting that you don’t have to go it alone when it comes to matched betting.
There are platforms available that provide tools and support to help you maximize your profits without upsetting the sportsbooks. And now seems like the perfect opportunity to introduce you to one of America’s best matched betting platforms…
ProfitDuel is a dedicated online matched betting service, brought to you by the people who created OddsMonkey, the world’s original matched betting side hustle platform. We’ve worked hard to adapt the service for the US and helped over 400,000 users smash their profit goals.
As well as the signup offers and new account offers we’ve discussed already, ProfitDuel also shows you how to make matched betting profits from ongoing offers.
With our Premium Subscription plan, members receive frequent updates on new offers, ensuring they have a continuous stream of opportunities for earning additional income. Premium members also have access to more offers and a wider range of resources, ultimately helping to increase their earning potential.
If you are new to ProfitDuel though, we would recommend giving the Free Trial a go. This will give you the chance to experience the profit potential of this side hustle for yourself. It’s worth noting that you can make over $100 profit from the free trial, as soon as you get started!
4. Final Thoughts
In conclusion, matched betting has the potential to be a long-term, profitable side hustle. But you need to tread carefully down the path to success.
Multi-accounting, which involves exploiting promotional offers through fraudulent activities, is not only against the T&Cs of most sportsbook operators but also carries significant risks, including account closure and potential legal consequences.
However, there are better alternatives to multi-accounting. Platforms like ProfitDuel offer a transparent and legal way to maximize your matched betting profits without resorting to multi-accounting. With ongoing offers, more sportsbooks entering the market, online casino promotions, and in-play betting opportunities, there are plenty of sustainable options to boost your matched betting earnings.
When it comes to matched betting, playing by the rules will help ensure long-term sustainability, as well as betting account security and overall peace of mind.