Setting Up Multiple Betting Accounts

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In this article we’re going to look at the subject of matched betting with multiple accounts – and by that we mean having more than one account at the same bookmaker. This is done by holding accounts that you run in other people’s name (friends or family members), not just your own.

In the matched betting community, this has been nicknamed ‘gnoming’. It’s also known as ‘multi-accounting’.

Honestly, you’re not going to find this written about very openly on the internet as it’s a taboo subject, even among matched betters. But it’s clear there are people doing it. Plenty admit to it on internet forums. And, of course, it’s allowing them to make much more money than if they had just one set of accounts. So maybe it’s worth a look.

In this article we’ll take a look at some of the things that you should consider if you’re going down this route.

The good news is there's no need to restrict yourself to just one site. Having multiple online betting sites can give you advantageous opportunities. Allow me to elaborate. Incentives for Signing Up: Incentives and bonuses are now commonplace when it comes to setting up an online betting account.

Just a word of caution, though: this does not constitute any legal or tax advice. The below has been put together as a collection of viewpoints based on what others have told us about doing it. What you choose to do with this information is entirely your responsibility.

Use multiple sites. Spreading your wagers across multiple betting sites means you’re less likely to attract attention at a single site. Place the occasional sucker bet Placing “bad” bets such as parlays.
Set up a device to bet on. Plus, opening accounts at multiple betting sites has other advantages. You can compare and shop odds with ease this way, switch between live betting streams, and so on. Remember, live betting.

Is matched betting using multiple accounts legal?

In matched betting, you pose as a regular punter in order to harvest offers and freebies from the bookmakers – all the while you’re actually laying off your bets in a risk-free way so you’re guaranteed profits. Although it’s perfectly legal, some might view it as an inherently murky activity.

Doing matched betting on your own account is already not really in the spirit of what the bookmakers want you to do (and we know this, because they will close your accounts if they suspect you of being a matched better). But does the idea of running multiple accounts at a bookie – using the names of friends and family – cross an altogether different line? Might it even be illegal?

As we’ve said above, we’re absolutely not in a position to give you any legal advice on this. Whilst we haven’t seen anything definitive on the legality of operating bookmaker accounts on behalf of others – either saying it is or is not legal – if you choose to go ahead with this activity, you do so entirely at your risk. It’s extremely grey territory.

One thing, however, is clear. If you’re setting up accounts with bookmakers on behalf of other people then you must have their permission. To do so without that would be identity theft. And you won’t get far with it anyway, for the following reasons:

You may be asked to provide identity documents, and background checks to open accounts.
Bookies are likely to require you to fund those accounts using a bank account in the same name as the customer (and even if they don’t, making transfers from seemingly unrelated bank accounts is likely to arouse suspicion).

So, first things first, make sure that you have the permission of the other person, and tell them what you’re doing. If they’re not fully onboard with it, then leave it well alone.

Getting the cooperation of friends and family

Having explained the concept to the friend or family member, if they’re still prepared to listen to you, you’re going to need to agree with them how this is going to work.

They’re unlikely to let you make money using accounts in their name if there isn’t something in it for them. Get ready to give them some cash.

It seems that people have tried two methods to compensate the other party:

Offer them a percentage of your profits
Offer them a fixed monthly payment

From the feedback of those doing it, the latter option is the clear favourite. Giving them a percentage of the profits makes the arrangement more complicated. You’ll constantly have to calculate the amount due, and they may have suspicions you’re not being entirely honest / accurate anyway.

With a monthly fee, things are clearer.

Setting up and operating a multiple matched betting accounts

Keep in mind that the bookmakers are always on the lookout for irregular activity. So anything that doesn’t fit with the profile of a normal punter will raise suspicions. If the bookmaker realises what you’re doing, they will close your gnoming account, and may also gub your own one too!

The feedback, from those using multiple accounts, is that you’ll want to consider a number of important safeguards:

1. Use different addresses and bank accounts

Whilst there are plenty of stories of people having opened up accounts at bookmakers in the name of their wives, not all bookies are open to that sort of thing. Ideally, you don’t want to open up too many accounts under one address. If a bookie sees that you’ve opened 5 accounts at one address for you, your sister, your mum, dad, and gran – they’re probably going to look into that.

But don’t just make up addresses, they need to be where the person actually lives! You may be asked for proof of address.

You also need to use different email addresses.

Equally, you want to be using different bank accounts. There’s more on that below.

2. Use different IP addresses

An IP address shows a bookmaker where you’re accessing the internet from. Again, too much activity coming from one IP address may result in your accounts being flagged.

The chat amongst matched betters is that you want to use a different device and connection for each set of accounts. Many of them have got cheap phones (on a SIM only plan – do NOT connect it to WIFI or it will use the same IP address as anything else using that WiFi connection) to avoid it looking like there are multiple people using the same IP address and device

If that seems a bit much, you could always try getting a decent VPN, which will hide your real IP address when you use the internet.

3. Vary behavior between accounts

Here, the advice seems to be to try logging into accounts at different times and varying user behaviour slightly. If you’re doing identical bets across all accounts at much the same times then that could raise some questions.

Laying bets at the exchange, for multiple bookmaker accounts

The betting exchanges, where you place your lay bets, don’t care if you’re matched betting. They’re also not the ones giving you any bonuses where you make your profits.

So, even if you’re running accounts at the bookies in a dozen different names, you can just use a single account at the exchanges. There’s no problem with that, but bear in mind that you might need to increase the size of your cash float in order to have enough capacity for your lay bets.

Bank accounts for multiple matched betting accounts

Transferring into a betting account from a bank account that doesn’t match the user’s name is suspicious, and in many bookies might not even be possible. So you need to make those transfers in from account in that person’s name

The banking situation is, for us, the greyest area out there. Some people recommend that you set up a new account in the person’s name (obviously with their permission) and you have control over it, and the debit card is in your possession. Not a single bank out there would consent to, or recommend, this arrangement – but people clearly do it. This arrangement has clear risks for both the person whose name is being used, and the person setting up the account.

So many new bank cards that you’re going to need a new wallet

Having control of that account also makes it possible for you to get your profits out of it too. Otherwise, if you don’t control the account, you’re relying on the other person to constantly make transfers out to you and in to bookmakers. If that person is on board with the whole idea then that may not be a problem, but it’s going to slow the whole process down a little. It may also take quite a bit of explaining over why various payments need to be made.

Note that it might also take some explaining to them if you’re making very big profits in relation to the amount you’re paying them!

Tax implications of matched betting on behalf of others

Whilst winnings from bookmakers are tax free, we’re not in any position to tell you what the tax situation is where you’re matched betting on behalf of other people. We’ve seen nothing authoritative that clears this up.

Is there an argument to say that you’re providing a taxable service on behalf of others? Do they need to pay tax on the money that you might be paying them for this arrangement? These are all things that you’re going to have to consider for yourself – and for full disclosure you may want to mention this risk to the person you’re doing it on behalf of.

Conclusion: Matched Betting using other accounts – is it worth it?

We mentioned right at the start, this isn’t something we’ve got into ourselves. The whole thing is fraught with issues – which we’ve covered above.

Aside from the legal and tax uncertainties, a significant issue is having to explain the idea, and the risks involved to someone else. On top of that, you need their help – or permission – to manage the cash payments and receipts. Unless the person trusts you a lot, they’re likely to be a little suspicious of the whole idea. Most instances where we’ve heard of people operating multiple accounts is where they’re doing it on behalf of a spouse.

Trust between you both is paramount. These sort of arrangements can end in tears, with suspicion or jealousy causing a fall-out. If the other party becomes difficult and decides to complain to the bank or bookmaker then it is going to cause you a lot of trouble and your own accounts will most certainly get gubbed. At worst, you might even end up in court.

Whether you get involved in this is, ultimately, something for discussion between you and the other person. For many, like us, it’s not something we’ll be rushing into soon. But, plenty of people are – and perhaps it’s that which explains some of the seemingly unbelievable matched betting profits you hear people reporting.

Whatever you choose, good luck!

If you subscribe to and/or follow a tipster service, then there is every chance you might be missing out on making extra profits, simply by using a multiple betting strategy.

It’s a topic I have banged on about previously, whether it’s the £1600 made from a £54 outlay or the £46,500 another SBC member made last year (Both true – click the links to see the bet slips) – there is huge potential when it comes to multiple betting.

And just last week, this once again came true for me when 4 out of 5 bets won on the same day. Winning £228.80 from just a 20p bet.

Because that is one of the joys of multiple betting. You don’t have to bet big to win big – as long as you have the right strategy. Allow to explain…

Why You Should Bet On Multiples – The Theory

All told it’s a really simple concept.

If you are making money betting on singles then there is every chance you can make more with multiples.

The basic logic goes like this…

Say you follow 2 tipsters, both profitable in their own right.

Tipster 1 tips a horse at 3/1. You place £50 on it to win
Tipster 2 tips a different horse in a different race at 4/1. You place £50 on it to win.

How To Create Multiple Betting Accounts

Now in this instance, you will make £150 if Tipster 1’s bet wins and £200 if Tipster 2’s bet wins. £350 in total from £100 staked. All well and good.

But what if both win? This is where you can squeeze more value out.

Say you placed a £20 double on both the 3/1 and 4/1 tip to win. In this instance when they both oblige, you will pick up a £380 profit from just £20 staked.

“Setting Me Up For Success”……

“Following a fantastic start to 2017, so far I am up £35,210 in 23 months (since joining the Smart Betting Club) Thanks guys!!! SBC was undoubtedly the biggest single factor in setting me up for success”

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This Multiple Strategy In Action (How a 20p bet won £228.80 last week)

It needn’t just be doubles that you consider as a multiple bet. You might like to try bets like Trebles or Trixies (as this chap did to such good effect!) or as I did last week, also add in the occasional 4 or 5 fold.

Of course, the greater the number of bets in your accumulator, the lower the chance it will win. Yet also, the lower the stake you need risk.

After all, you might only need to risk a total of £1 to £2 on a 4 or 5-fold to make a significant return.

To prove this point, last Thursday, I put 5 tips supplied by 5 different expert tipsters into a variety of multiple bets.

As well as placing them all as singles, as each tipster putting them forward is so good individually, I also chucked them in a variety of long-shot multiples at small stakes.

I placed the following:

How To Make Multiple Betting Accounts

10 X trebles.
5 X 4-fold.
1 X 5-fold.

The result? 4 out of the 5 tips went onto win at 9/2, 5/2, 7/1 & 9/2.

So, as well as 4 of the higher stake single bets winning, so too did several of the trebles and 1 of the 4-folds. The potentially lucrative 5-fold went down but it was a close run thing.

The only losing tip was very unlucky after being hampered in running 4 out from the end when looking handy. Having backed him early at 20/1, he went off at 10/1 and on another day may well have obliged!

Still, I couldn’t complain as across several bookies, the singles and multiples reaped a significant reward.

I don’t want to reveal too much about my betting accounts (for fear of them being identified and closed – most bookies hate SBC!) but you can see the return from the winning 4-fold below.

I placed 5 of them at 20p stakes so the one that won effectively returned £228.80 from just a 20p outlay.

All You Need To Make It Work!

I have shared the details on my winning bets above, not to be boastful, but to encourage those of you yet to consider multiple betting to really give it some thought.

It’s simple to do, won’t break the bank and with patience it often reaps significant rewards.

To make it work, you need 2 things:

To know the best tipsters to follow – those making money betting predominantly on singles;
An understanding of multiple betting in more depth, the theory and the strategies you should follow.

As a Smart Betting Club member, the first thing we can help you with is sourcing the best tipsters, whether through our Tipster Profit Reports or the 2017 Best Tipster Guide. There are plenty for you to choose from!

You can also access our special Magic of Multiples Report, which provides example strategies and ideas on how you can start to implement your own Multiple Betting approach.

Best Of All – Save £35 Currently!

So if you want help whether it be single or multiple betting – we can help you.

Best of all, you can currently save up to £35 on the cost of joining the Smart Betting Club. We have slashed the price to ensure as many as you as possible have access to our reports, magazines and guides.

Can You Have Multiple Betting Accounts

After all, we want you to win more betting!

See you on the inside.

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Best Regards,

Peter Ling
Smart Betting Club Editor

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P.S. A Word To The Wise On Multiples…

Before you rush off to place a whole host of multiple bets, I do have 2 words of advice to share:

Firstly – no double, triple or accumulator can help if your bets are poor value as singles. Combining bad value single bets into multiples will long-term simply increase your losses.