The fact that you’ve visited the Oddshero blog suggests that you probably know a thing or two about Matched Betting. You probably know that by doing Matched Betting you are taking advantage of bonuses given by online bookmakers. You also probably know that this is a legal method to make some extra money.
What you probably don’t know is whether Matched Betting can affect your mortgage application. If you’re planning to apply for a loan in the foreseeable future, reading this article is a must. This is where you will find all the answers you’re looking for.
Gambling and mortgage are like oil and water – they don’t mix. Lenders don’t think of gambling as a source of stable income. It’s quite the contrary, actually. For them, any form of gambling is a high-risk activity. The big question here is whether they consider Matched Betting to be a gambling form?
By definition, Matched Betting is not a form of gambling. Gambling involves luck; Matched Betting takes luck out of the equation. You understand this and we understand this. Unfortunately, your bank might not understand it.
In fact, the chances are that the lenders are not going to take you seriously if you decide to base your loan application on your Matched Betting profits.
When applying for a loan or a mortgage, you are required to provide evidence of your income. Depending on where you live, you might be asked to supply the bank with payslips from a previous couple of months. Every application is different but, generally speaking, you’re not going to get a loan/mortgage unless you can prove to the bank clerk that you are going to be able to pay it back.
To increase your chances of getting your request accepted, you should provide the bank with all the info about your sources of income. Unfortunately, not all sources of income are taken into account. Matched Betting, for instance, does not count towards your income for loan or mortgage purposes.
What this practically means is that you can’t declare the earnings you’ve made through Matched Betting as your income. Instead, you need to make sure your existing income is big enough on its own for you to get your request accepted. In layman’s terms, this means that Matched Betting can’t help you get a loan/mortgage. On the bright side, it also doesn’t harm your application.
Matched Betting should not show up on your credit report. In fact, the same should apply for regular sports betting and all the other forms of gambling. Of course, it all depends on where you live, that is, on the laws and regulations of your country.
In some countries, however, it’s a common practice to do the so-called “soft search”, which is an anti-money laundering measure. How it works is that a credit search is done on your credit file. However, the result of the search cannot be used to degrade your credit score.
What the lenders are interested in is whether you can pay back your loan. Whether you’re using some of your money to gamble is something they aren’t concerned about. Of course, if gambling is causing you to lose too much of your money, it’s a different story. However, knowing that Matched Betting is not a form of gambling but a legit method for making money, it’s not going to create a negative balance.
What you have to remember is that Matched Betting is not going to cause you any troubles with your loan application, which cannot be said for “regular” sports betting.
If you want to get a mortgage to finance the purchase of a house, it’s likely that you will have to give a deposit. Usually, the amount of money you need to deposit equals 20% of the total value of the house. If you don’t have that kind of money on you, you can use Matched Betting to reach the desired figure.
The lender might ask you for proof of where you got your money from and you can proudly say Matched Betting. They do not care from where the deposit comes from as long as it comes from legal sources. Matched Betting is a 100% legal method, so you don’t have anything to worry about there.
The same applies to Value Betting as well. You can use this method to add a few digits to your savings account. Actually, the same goes for sports betting/gambling as well. The only problem is that with regular old-fashioned gambling, the chances are that you’re going to end up losing.
This is why it’s best to stick to a risk-free method such as Matched Betting with Oddshero, or the most profitable long-term sports betting strategy of Value Betting with Trademate Sports.
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