'Multi accounting' refers to using multiple accounts with the same bookmaker to increase your matched betting profits.
As most experienced matched bettors know, bookmakers will restrict your account as soon as you show a pattern of taking value - high stakes is the quickest way to draw attention. To maximise profits, it is often better to get your hands on multiple accounts and spread the stakes. But is this legal? and if so, how is it done?
Legal Implications
The legal implications surrounding multi accounting are a tricky area and not entirely black and white. It is not clear what is legal and illegal, as there are no specific laws covering this.
However, one thing that is certainly illegal is 'gnoming'. This is the process of opening an account under someone else's identity without their permission. This is identity theft and carries serious legal implications.
Another method involves obtaining permission to open an account in someone else's name (friend or family member) and placing bets on their behalf. This is most likely legal in the eyes of the law as is no different to placing stock trades on someone's behalf, or making a purchase someone's behalf. As long as permission is received this is completely legal.
For additional safety, if opening accounts in the name of people you may not trust, we would recommend getting written permission from them just in case, or avoiding completely.
Tips For Multi Accounting
The most important thing, above all else, is maintaining the new account when multi accounting. View our guide to maximising account health here for tips on how to increase account longevity.
Assuming you apply our tips for each new account, there are a some additional points to note when multi accounting:
Keep a list of all deposits and withdrawals you make - When multi accounting you often have to deposit and withdraw using the legal account owner. Ensure the funds are getting back to you.
Offer the friend/family member a share of the profits - Offering the friend/family member who you are using for multi accounting a share of the profits not only reduces the chances of them stealing the money, but also provides an incentive for them them to open more accounts to increase their own profits.
Don't deposit using your personal card - Certain bookmakers will close accounts that make a deposit using a card which isn't in the account holders name. To avoid this, only deposit using a card in the name of the family/friend that you are multi accounting with