Gambling while claming Benefits

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..
Lay Back and Make Money!!
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Comments

  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    ...hopefully they will reduce your benefits as a result.
    "You were only supposed to blow the bl**dy doors off!!"
  • WantToBeSE
    WantToBeSE Posts: 7,729 Forumite
    I've been Money Tipped! Debt-free and Proud!
    Popcorn anyone?
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    Mille wrote: »
    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..
    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.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • DB_XIII
    DB_XIII Posts: 54 Forumite
    ...hopefully they will reduce your benefits as a result.

    This ^^^^^^^
  • tom9980
    tom9980 Posts: 1,990 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've helped Parliament
    HappyMJ wrote: »
    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.
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    So, are we saying here that matched betting is 100% a profit-making exercise, and there's no element of risk in it?
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    googler wrote: »
    So, are we saying here that matched betting is 100% a profit-making exercise, and there's no element of risk in it?
    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.

    And...most of all you need money to back and lay with. It is not recommended if you have no money at all.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Mille
    Mille Posts: 960 Forumite
    thanks for all the replies :)
    Lay Back and Make Money!!
  • GMbabies
    GMbabies Posts: 1,395 Forumite
    Are you an addict?
  • AP007
    AP007 Posts: 7,109 Forumite
    Aren't benefits meant to help you live, not to gamble
    We’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.com
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