This is easily the most common question I receive from both existing Heads&Heads members and those looking to understand more about Matched Betting. Surely, bookmakers will close this loophole and then you’ll no longer have a business? Well, people have been saying this since matched betting first started being practiced – all the way back when the first betting exchange was launched in 2000. Back then the process was a lot more manual and you did not have access to the same tools and software that is available today on Heads&Heads. However, the basic process remains the same, as does the scepticism of the doubters.
Matched betting will exist as long as betting exchanges exist and bookmakers want to grow their business. Neither of which we can see dying out any time soon. Gambling is a billion-pound industry in the UK and whilst matched betting may irritate bookmakers, it is a drop in the ocean compared to their wider profits.
Another reason why matched betting is here to stay is that in its current iteration it is not stepping on anyone’s toes with any degree of force. There is no ‘conning or stealing’ from the bookmakers here – our back bets have exactly the same chance of losing at the bookmaker as any ordinary punter and the loss of our back bet still goes into the bookmakers’ pockets. Ultimately, all we are denying bookmakers is gambling addiction.
This leads neatly onto our next point. Whether they’ll admit it or not, bookmakers profit from addiction. The more people are addicted, the more money they make and no number of ads urging ‘When the fun stops, stop!” is ever going to change that. For bookmakers to encourage legislation that prohibits matched betting would require a light to be shone on this reality. This is not something that any bookmaker wants, particularly at a time when gambling addiction is being treated with the seriousness it deserves.
This is not to say we think bookmakers are bad people, far from it. In fact, were there to be an opportunity for us to work with them to the long-term benefit of our members, Heads&Heads would actively welcome it.
Another thing to keep in mind, just in case you are still worried, is the existence of Betting Exchanges. Heads&Heads has open dialogues with the major betting exchanges. The reason for this is very simple. A betting exchange has a completely different profit model to that of a normal bookmaker. Whilst the later profits on your loss, the former just takes a commission on any bet placed. What this means is that a Betting Exchange is not invested in wanting you to lose, they just want you to keep betting. Furthermore, matched bettors are the best customers for betting exchanges, as we help prop up their ‘lay’ markets. As a result, Betting Exchanges want to work more closely with sites like ours to improve the experience. This, when coupled with their ever-increasing size, means they have become a somewhat immoveable object in the market and even if bookmakers wanted them shut down, they’d not succeed in doing so. The health of betting exchanges is a very good indication of the future matched betting has – and these exchanges are looking very healthy indeed!
This uneasy alliance between the us and the bookmakers has existed for years and will continue to do so long into the future. Despite what some might say, we feel there is a greater likelihood that companies such as Heads&Heads will in fact end up working more closely with bookmakers in the future, as opposed to growing apart.
So, we are certainly not worried about the longevity of Matched Betting and, as our members, neither should you be. Matched Betting and the profits you make from it every week are here to stay.