Matched betting - anyone used it to chip away at their debt?

[Deleted User]

Hello all

Just starting a thread to see whether anyone has used matched betting to chip away at their debt figure?

I've done some calculations last night and, if it is true about it being risk-free, it is certainly a very attractive option. Not looking for tips on how to do it as there is lots of advice out there, just for other people's experiences on whether it has worked for them, what they found most rewarding, and what the drawbacks were. Seriously considering it but would like to hear and learn from the experience of others first.

I have never had a gambling problem, it doesn't really interest me at all and I would only intend to use it to clear my 12k of debt, so in that regard I think it would be a risk-free way of increasing my CC repayments for a small time investment. Problem gambling is getting hammered in the media and by policy makers at the moment - rightly so - so I am slightly torn by the ethics of giving bookies my money, but then the fact that I'm essentially getting my money back off them (and more) is quite satisfying.

Many thanks in advance

foxtrotoscar_2

https://forums.moneysavingexpert.com/forumdisplay.php?f=41

sourcrates

Not recommended for this forum.
For some people gambling has been a pathway into debt, so asking if anyone has used it to actually reduce their debt, may be a sore point, as there is only one winner, no matter how its dressed up.
Any kind of reliance on gambling for any reason, is to be discouraged.