Reply To: Income from online betting accounts

#286826
CJay100
Participant

No intention to open this again – but it was a fascinating case i looked at 7 years ago. I had the hunch that this could escalate due to better algorithms. Just an update as – the case i had at the time was a fair one based on other income for benefit purposes.

My update is to confirm that the pastime of arbitrage in this particular betting discipline has reached high levels in 2024. It starts well and then ends as the ‘bookie’ finally works out that hedging and therefore edging giving the normal punter a chance must end. I am aware of many many betting accounts now being closed non grata. Why? – well of course only the establishment can be allowed to win. Is this a Q of morality?

Indeed it is – a principle of conduct – well – what’s wrong if I can learn how to (h)edge my bet and make a profit too. The actual arithmetic math of it is not too difficult to master either. You just need dedication and to be quick off the mark. So – the principle of conduct must be allowed both ways. Alas – this is not the case as it is shut down.

My claimant was canny as he hedged the 2nd bet in a bookmaker – in other words – ‘a bit of old skool and new skool. The simple reason I went down the rabbit hole with him was because he told me so in his claim of other income. He was on course bookie and very smart. It is unlikely we will see this again as most actions of this nature are of course done by those outside the system.

My investigations showed merit and even more so now. If there is an up there is down in math but not according to the bookie.

Sadly we lost our case and won’t go into to it – but the fact remained and remains you can also play the bookie at their own game – er – well until you can’t. It was an intriguing case nevertheless.