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Matched betting

I've seen this mentioned here a few times , with some people saying it's the best way to make money online , and I've looked at the video for one of the firms mentioned.
I'm a bit wary - I've always believed in the old saying "if something sounds too good to be true it probably is "
Have many people here made money from this ?
Has anyone had any bad experiences they'd care to share ?
As far as I can make out it works by taking advantage of sign up bonus offers , making each way type bets so you don't lose.
The two main things worrying me are -
My inbox is always full of these offers , often from companies I've never heard of . How reliable are these firms ? Do they pay up ?Are they prone to going bust ?
I'm assuming these bonus offers are one time only ? Don't you get through all the offers pretty quickly ? Is it really a sustainable form of income ?

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