We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Gambling while claming Benefits
Mille
Posts: 960 Forumite
can u do Matched Betting while being on Child Support and JSA?
my JC sometimes asks for Bank Statements and there maybe few entries to bookies etc..
my JC sometimes asks for Bank Statements and there maybe few entries to bookies etc..
Lay Back and Make Money!!
0
Comments
-
...hopefully they will reduce your benefits as a result."You were only supposed to blow the bl**dy doors off!!"0
-
Popcorn anyone?0
-
Some people don't understand matched betting...can u do Matched Betting while being on Child Support and JSA?
my JC sometimes asks for Bank Statements and there maybe few entries to bookies etc..
As long as you have less than £6,000 at all times then you can continue to claim the full rate of JSA and any other benefit you are on. Winnings or more accurately with matched betting ..profits.. do not affect JSA at all.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
maninthestreet wrote: »...hopefully they will reduce your benefits as a result.
This ^^^^^^^0 -
Some people don't understand matched betting...
As long as you have less than £6,000 at all times then you can continue to claim the full rate of JSA and any other benefit you are on. Winnings or more accurately with matched betting ..profits.. do not affect JSA at all.
This is 100% correct gambling is not taxed either.
Also don't listen to those who will give you abuse for it, there a number of success stories of people going from full benefits to home ownership doing match betting and claiming nothing, its all perfectly legit. Certainly no worse than salary sacrifice to continue claiming child benefit that's for sure.When using the housing forum please use the sticky threads for valuable information.0 -
So, are we saying here that matched betting is 100% a profit-making exercise, and there's no element of risk in it?0
-
That's right....there is a minor element of risk...a bookie may not pay out on winnings. The computer might crash between the back and the lay and the backed team/horse loses before the computer restarts.So, are we saying here that matched betting is 100% a profit-making exercise, and there's no element of risk in it?
And...most of all you need money to back and lay with. It is not recommended if you have no money at all.:footie: Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
thanks for all the replies
Lay Back and Make Money!!0 -
Are you an addict?0
-
Aren't benefits meant to help you live, not to gambleWe’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards