ARB410: Friends and family – multiple accounts
The concept is simple: if you can make tens of thousands of dollars in profit from arbing Australian bookmakers in your own individual name, then after your bookmaker accounts are limited why not invite your friends and family to do the same, thus multiplying profits?
It is a strategy used widely in sports arbitrage to provide career longevity, but it is a tricky path to walk and if you get it wrong the consequences can be severe.
The wrong way
An all too common scenario is that professional arbers borrow identity documents from friends and family – with their permission – specifically for use in sports arbitrage. The friend or family member is fully aware of what the arber is planning on doing with their identity documents, and receives financial compensation in return.
A problem with this strategy is that it is directly in violation of every bookmaker’s terms and conditions. Specifically, bookmakers require punters accounts to be in the name of an individual and all wagers made from that account are to be placed by the named individual.
If the named individual on a bookmaker account is not the person placing the bets, then that account is in breach of the bookmaker’s terms and conditions. If an arber is caught doing this then the bookmaker is within their rights to void any bonuses claimed, any open bets, any winnings in the account, and refund just your deposit – nothing more.
The risks are that:
- if the bookmaker account had ‘won’ more bets than had ‘lost’, it will have a balance greater than the deposit, and since the bookmaker is entitled to withhold all winnings the arber can lose a portion of their bankroll; plus
- the bookmaker account will be closed immediately, so the potential future profits of arbing with that account are lost.
The very wrong way
Don’t do it. Sports Arbitrage Australia do NOT promote or advocate this strategy. IT IS 100% ILLEGAL.
Some irresponsible arbers have been caught stealing or faking identity documents for use in sports arbitrage. These arbers setup bookmaker accounts using identity documents that were obtained WITHOUT the permission of their owners. This is 100% illegal and is not, nor will ever be, promoted or advocated by Sports Arbitrage Australia.
If an arber is caught doing this then:
- the bookmaker is within their rights to permanently close the punter’s account, confiscate all funds (under money laundering regulations), and report your details to law authorities; plus
- they will be prosecuted to the full extent of the law for identity theft, fraud and also money laundering with imprisonment being a real possibility.
The right way
In fact, the only right and lawful way to profit from sports arbitrage with multiple accounts is to encourage friends and family to begin their own sports arbitrage experience. After all, your referral of friends and family members is the best compliment you can make to a bookmaker, right?
You can be there to guide them along their journey, help them should they need it, and you can be compensated for your assistance.
It is important, though, that all bets placed with a sports bookmaker are actually instructed by the individual named on the account.
This way, there are absolutely no risks of unlawful activity, or breaching the rules of any bookmaker. It is the best way to stay safe.
Be aware that some offshore bookmakers have a rule of one account per household, so review the bookmaker’s terms and conditions before registering new punters that have the same address.
In addition, as discussed in previous lessons, your eWallet account details must be exactly the same as each bookmaker account, therefore each individual who undertakes sports arbitrage must have their own eWallet and bookmaker accounts.
Combining multiple accounts with arbing offshore = MASSIVE rewards
We have discussed the possibility of multiplying sports arbitrage profits by two methods:
- including offshore bookmakers in your arbing; and
- arbing with multiple accounts.
So what will be the effect on your profits if you apply both of these strategies to your sports arbitrage experience? That is a question we will leave with you.