I too have an idea

[Registered]

Inspired by  @Sabth, to write about my own idea, and hopefully receive some valueable input.

Several years ago, I delved into the world of matched betting. For those unacquainted with this concept, it entails employing a risk-free technique to extract the value of sports betting bonuses offered by bookmakers to new customers. I dedicated six months to this endeavor, accumulating considerable experience and profits before embarking on my university studies. Subsequently, my country introduced regulatory measures within the betting industry which significantly impacted bonuses for new customers. 

Fast forward to the present, numerous states are legalizing sports betting, causing brands to rush for market share. This heightened competition has resulted in bookmakers extending lucrative offers to entice new customers.

I am keen on capitalizing on this opportune moment and transforming my previous matched betting venture into a more organized structure. The pivotal element required to materialize this vision is access to individuals and their corresponding betting accounts. Each sports betting platform typically grants one bonus per person, necessitating a continuous influx of new participants.

I am open to various methods of acquiring these individuals. My initial thought revolves around forming a partnership with a skilled salesperson and entrusting them with the responsibility of proficiently recruiting new participants. I envision that university students, who could benefit from extra income, would be a suitable target demographic. These recruits could be incentivized by the prospect of earning additional money through referrals, creating a structured multi-level marketing (MLM) approach. To clarify, participants would essentially offer access to their initial bonus offers in exchange for compensation, employing various strategies to do so. In this arrangement, all involved parties stand to profit, while the betting companies would inevitably incur losses.

My desire to initiate this endeavor has been long-standing. However, I find myself uncertain about the next steps required to identify suitable salespersons/collaborators and set this plan into motion.

Appreciate all the help, thoughts, and ideas that can aid in making this a reality. 

[Phil King]

https://www.reddit.com/r/EuropeFIRE/comments/drilwt/matched_betting_does_it_earn_money_or_just/

https://www.reddit.com/r/UKPersonalFinance/comments/z12r0a/longterm_risks_of_match_betting/

I guess then it just seems like a time consuming and rather slow way of making money by acting as a leech on the gambling system. I guess im biased because I dont like gambling but this seems like a low consciousness endeavor. I also doubt you can make a full time income by doing this

16 minutes ago, Registered said:

while the betting companies would inevitably incur losses.

The betting companies will probably not stand for incurring losses very long. The house will always win in the end. But do what you want

Edited September 10, 2023 by Phil King

[Registered]

9 minutes ago, Phil King said:

https://www.reddit.com/r/EuropeFIRE/comments/drilwt/matched_betting_does_it_earn_money_or_just/

https://www.reddit.com/r/UKPersonalFinance/comments/z12r0a/longterm_risks_of_match_betting/

I guess then it just seems like a time consuming and rather slow way of making money by acting as a leech on the gambling system. I guess im biased because I dont like gambling but this seems like a low consciousness endeavor. I also doubt you can make a full time income by doing this

The betting companies will probably not stand for incurring losses very long. The house will always win in the end. But do what you want

The terminology used can be confusing. Matched betting can be done with as well as without promo offers. Doing matched betting for arbitrating different odds is time-consuming and extremely low profit and thus not worthwhile. Doing matched betting to fulfill the requirement of the bonus offer/bonus money to turn it into real withdrawal cash is much more lucrative, but as I mentioned it can only be done once per site, per person. 

I made 5x full-time income, spending just 1/3 of the time, if even that. Putting it into a system it would be much more beneficial, especially with the offers currently available. 

This isn't gambling, it's capitalizing on the capitalistic market. 

The betting companies can't do much about the losses incurred from these people utilizing their offers. They incur a loss to people coming just to exploit the offer. The large majority however get enticed by the offers and begin to gamble their money. The promotion in its totality is of course always a win, because most just gamble. Therefore they are not worried about some benefiting from it. 

I expected posts like yours, I have receipts and explain any aspect of it anyone is curious about. This is however more about how to proceed with finding someone to collaborate with. I already know it works as I've done it for more than 6 months. As long as people can be recruited to acquire new accounts it is doable. Recruiting and accounts are the biggest challenges of them all, everything else is manageable. 

[Phil King]

4 minutes ago, Registered said:

I made 5x full-time income

what is the total dollar amount

 

4 minutes ago, Registered said:

As long as people can be recruited to acquire new accounts it is doable.

What is the incentive for people to give you their free bonus rather than just using it themselves?

[Registered]

24 minutes ago, Phil King said:

what is the total dollar amount

 

What is the incentive for people to give you their free bonus rather than just using it themselves?

10-12k$ average per month, tax free, in Sweden. Swedish wages are quite low and taxes high. I was personally recruiting and was limited by number of people i could acquire.

People dont know anything about it, how the offers work, where to find alm of them, what their requirements are, which ones to not pursue, knowing what to pay attention to in th terms, how to fulfill the turn over requirement without losing your own money etc.

Most people could however learn if dedicated enough. But it wouldn't be worthwhile if youre planning to just use your own offers and be done with it. 

Selling it and getting a couple hundred for seemingly nothing, would be seen as a good deal by most people.