Setting Up Multiple Betting Accounts

1. How To Create Multiple Betting Accounts
2. Can You Have Multiple Betting Accounts
3. Setting Up Multiple Betting Accounts Receivable

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.

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. Every regular sports bettor should have an account and a little money at multiple sports betting sites.I preach this constantly because having a few accounts gives you the ability to go line shopping. Multiple accounts also give you the advantages of being able to take advantage of multiple. Matched betting with multiple accounts, or gnoming, means opening multiple accounts with the same bookmaker. There are two ways this can work: Opening the second account in your own name Gaining.

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.

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.

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

How To Create Multiple Betting Accounts

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!

Even though many sportsbooks now offer mobile betting, did you know that most punters still prefer to wager at home? When you think about it, this makes a lot of sense. There are some advantages to being able to bet on the go of course, but for the most part, betting at home makes a lot more sense.

If you are really serious about sports betting, however, you need to make sure you have the right kind of setup to maximize the advantages of betting at home. And that will be the focus of this article.

Why Bet at Home?

First of all, why is home betting superior to mobile betting on the go? Here are a few reasons:

• There are distractions on the go.

When you are out and about, your environment is totally outside your control. Think about how chaotic some of the locations are where you are likely to encounter wi-fi networks. Sitting at a corner café betting while you wait for the train, you will be surrounded by a swarm of people. You also may be busy worrying about your commute instead of focusing on your betting. So there are internal distractions too.

• Your home network is more stable and secure.

Think about the quality of a lot of the public wi-fi networks you have dealt with in the past. Do you really want a signal that drops in and out, cutting you off at that critical moment when you need to place a live bet? And what about security? Do you want someone to get access to your betting account and your financial information because you are trying to place wagers on an unencrypted connection? You can secure your home network with a password and encryption, and you can enjoy far more stability and speed as you bet.

• Options are better on the full version of many betting sites.

The overall functionality of mobile betting sites generally is much lower than it is for the full versions of the sites. You may have fewer betting options available on the go. If you bet at home, you give yourself access to the most opportunities.

• Refresh rates are faster on the full version of the site.

This should go without saying. Fast refresh rates are a must when you are a sports trader.

• API applications are less restricted on your desktop or laptop.

If you really want to get the most out of sports betting, you will probably end up downloading quite a few API applications. Third-party software which is compatible with your betting site allows you to set stop-losses for sports trading, automate your bets, and more. The thing is, you will find there is a lot more available for desktop or laptop than there is for your mobile device.

Okay, So Now What?

So now you have a lot of good reasons to do most of your sports betting at home. Mobile betting on the go can be useful if there is an event you really want to bet on when you simply cannot be at home, but you should aim to do as much betting as you can sitting at your home computer.

Here are the steps you should take to streamline and optimize your home betting setup:

Can You Have Multiple Betting Accounts

1. Figure out how to stream matches
2. Set up a device to bet on
3. Have backups in place
4. Get your checklist and logs in front of you
5. Eliminate distractions on your computer
6. Reduce distractions around your home
7. Make sure you are ready

Let’s look at each of these in detail.

1. Figure out how to stream matches

So how do you come up with the optimal home betting setup? The first step is to figure out a solution for streaming matches.

What you need to focus on here is finding the best live stream you can. Keep in mind that when a stream says it is “live,” whether it is online or on television, it is not really live. There is always going to be some kind of a delay. Sometimes that delay is just a few seconds long, but other times it may be quite significant—as long as half a minute.

The longer the delay, the harder it is for you to make smart betting decisions, especially if you are in a situation where you are placing live bets. If a stream is half a minute behind, and you make a decision based on what you just saw on the screen, you are actually placing a bet based on information that is already thirty seconds out of date. For all you know, the situation on the field has already reversed. If that is the case, you probably just threw away money.

How can you find the fastest streams? Here are a couple pointers:

Stick with online streams rather than television.

Yes, television broadcasts may be more enjoyable to watch, but they also tend to lag further behind.

Check FAQs for live streams offered by sportsbooks.

You should be able to find out what approximate delay you can expect on the “live” streams. Contact customer service if you cannot manage to find the information on the site.

You may balk at the idea of paying to live stream events, but it may well be worth it if you are getting a faster stream. Plus, most betting sites live stream the majority of sporting events completely free. Those they do charge for (typically horse racing and greyhound racing), they generally charge very little for—usually you just have to place a minimum bet ($1 or £1).

If you’re trading sports, you might notice at some point that there are other punters who seem to know what’s going on faster than you do.

This is sometimes a result of a practice known as “courtsiding.” This is where sports traders or their representatives are actually present at the event in the stands. Either they use that information right there to place bets, or they transmit it to someone else remotely who does the same.

The Legality of Courtsiding

Courtsiding’s legality varies from one jurisdiction to the next. In some countries, it is not a problem, but in others, it is illegal and can even command a lengthy prison sentence.

In any case, courtsiding is probably not something you will be able to engage in unless you either have the money to travel to the events you bet on or the money to hire someone else to do it.

The bottom line is that there are pros out there who are going to be acting on pertinent information before you ever have access to it. Even a few seconds can give them a significant edge over you.

Once you figure out where you want to stream your matches, you are going to need to figure out which devices you want to watch them on.

You can use a computer monitor for this (I would stick with a full-size monitor, not a tablet or other mobile device, so you can actually see what is going on). You also may also be able to use your TV.

Remember that even if you are streaming online, you can still transmit that stream to your television screen if you have a compatible streaming media player for doing so. This is a great compromise if you want something which is faster than a TV broadcast, but still easier on the eyes than staring at your laptop screen.

2. Set up a device to bet on

Now that you have figured out your live streaming solution, your next step is going to be to set up a device which you can use for your betting.

For this, I again recommend that you stick with a device which has a full-size screen. That way you can use the full version of the betting site, not the mobile version, which may not offer as much functionality.

You can purchase a second monitor if you need to, and link both up so that you have an expanded desktop. This gives you plenty of room to work with, and makes it possible to display your stream on one screen and your betting interface on the other while using just one device.

Alternately, you might be able to use a second computer—but before you try this, make sure you check the terms of service for the betting site you are using.

If you will be streaming and betting on the same site on two different devices, you need to make certain that you are allowed to be logged in from two different devices simultaneously. If you are in any doubt on the matter, contact customer service and ask them about their policies.

What if it is against their policies, but you still need to use two devices? Consider betting on a different site than you use to stream events.

3. Have backups in place

Next, you need to consider that something could go wrong with the devices that you are using to stream or place bets. Your internet connection could also go down. In both cases, you need to have backups at the ready.

This is where a mobile device can come in handy. If your laptop or desktop has a problem, you can grab your mobile and switch that on instead.

What if there is a problem with your internet connection? This is another way in which your mobile device can be useful as a backup. If you have a 3G connection on your phone, you can connect through that if your broadband goes down. In fact, if you need to, you can even turn your mobile device into a wi-fi hotspot. You can then use that connection on your desktop or laptop.

Also consider that your sportsbook could have a technical problem. Even if you have a reliable connection and your devices are all working, if something goes wrong with the betting site itself, you could find yourself in a tight spot.

Sometimes that could result in an unavoidable loss of some sort—but a lot of issues can be circumnavigated if you simply open accounts at multiple betting sites. You can use these as backups should something go wrong with the main site.

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 streams may also experience issues. Some streams also are faster on some days and slower on others, so if you are dealing with that kind of variance, access to backup streams is important.

4. Get your checklist and logs in front of you

The technology end of things is taken care of—but that is not all there is to a complete home betting setup.

If you are sports betting with any serious consideration of making money, you are doubtless going to be following a complex set of procedures, hopefully streamlined into a checklist. This is especially important if you face challenges with executive functioning skills.

You also should be logging your activities while you are betting and recording your outcomes. For this, you might have a spreadsheet, a journal, or some combination of the two (I recommend both).

I suggest that when you sit down to bet, you get your checklist and actually have it in front of you. Either open the document on your computer, load it on your mobile device or print it out an tape it to your wall. Either way, have it in plain sight so that you do not forget important considerations or steps in your betting process.

It is also useful to have your journal and/or spreadsheet open so that you can take notes while your bets are in progress.

5. Eliminate distractions on your computer

So now you have everything you need to bet … but there is another important aspect to consider when it comes to your home betting setup, and that is getting rid of everything you do not need.

You can start with checking for distractions on your computer. These days, a lot of us have various desktop apps which could distract us. These might include chat applications, file and folder sharing services, desktop notifications, and so on. Then there is your web browser itself, which could be a pretty big distraction all on its own.

So close out of as much as you can. Exit out of chat applications and temporarily disable notifications while you are betting. Do not open tabs on your browser which are not related to betting. Do not check your email inbox. Your desktop should be as clean as possible. That way you have nothing pulling you away from your betting.

6. Reduce distractions around your home

Of course, there are distractions off your computer as well. But this is why it is great to be betting in your own home environment, it is an environment you have a reasonable amount of control over.

So a lot of distractions can be reduced or eliminated in advance. Take the following steps:

• Turn off the ringer on your cell phone so that you will not be tempted to take phone calls.
• Tell anyone who lives with you that you are busy and do not want to be interrupted for the duration of the time you will be betting.
• Close the door so that you do not have to deal with noise and movement from the rest of your home.
• Pull the drapes on your windows if you get distracted by activity outside.

Basically, treat your home betting setup like a home office. Try and create some division between the time you spend betting and everything else in your life.

7. Make sure you are ready

Finally, one thing which is surprisingly easy to forget but arguably is the most important aspect of a proper home betting setup is making sure you are ready.

If you do not have your mental house in order, you are likely to blow it with your betting, no matter how great the rest of your setup is. Even though this is intangible, it is just as vital as every other aspect.

So take care of yourself, and evaluate your mood before you ever sit down to bet. Make sure you are ready to focus and make smart decisions before you start staking your hard-earned cash.

Are you well-fed and hydrated?

Don’t sit down to bet on an empty stomach if you will be distracted by the thought of food. Bring a snack in if it helps you—but if a snack is distracting, make sure beforehand you are good to go. Likewise, some people find it hard to think on a full stomach, so you may want to avoid eating a large meal before you bet.

Do not bet when you are drunk, under the influence of other drugs, or hung over.

It is amazing what a big temptation this seems to be to people. Do not do it. Under the influence of any drug, your judgment may be compromised, and at the time, you may not even be aware of it. As to a hangover, well, talk about a major distraction.

Make sure that you are physically well and mentally alert.

If you are sick or in a lot of pain, you might want to hold off on betting unless you are already skilled at concentrating and making smart decisions under severe physical stress. You also likely have days where you are mentally sharp and others where it feels like you are lost in a mental fog. If you are in a fog, you might want to wait until your mind is more clear.

Check your emotional state.

Setting Up Multiple Betting Accounts Receivable

It’s not going to be the right time to bet when compromised by anger, fear, overconfidence, or any other overwhelming emotion. At the very least, you should take a moment to become cognizant of your mood and how it may affect you. That way you can consciously deal with it instead of letting your emotions take the reins. You also can note your mood in your betting journal. Over time, you may discover that some emotions and situation disrupt your betting more than others. This can help you figure out when you can bet profitably and when to back off.

The more you monitor your physical and psychological state when you are betting, the more you will learn both about betting and yourself. Over time, this will not only prevent you from betting when you should be taking a day off, but it will also help you to gain more control over your moods and make more profitable decisions.

Conclusion: The Right Home Betting Setup Can Significantly Increase Your Profitability in Sports Betting

If you do not currently have an optimized home betting setup, you may be losing money unnecessarily through avoidable mistakes caused by distractions, technological glitches, and other inconveniences. When you get your home betting setup optimized, you will be able to tune into the fastest streams, you will have backups in case of malfunctions, and you will be able to focus on your betting without distractions. That means fewer mistakes and higher profits!

Get started betting at home with Bovada, one of our top trusted sportsbooks!

Also, even at home make sure not to make these mistakes.

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