Is Gnoming the best way to beat the bookmakers?

After reading this post, you’re going to have an idea of what Gnoming is, what the advantages are and whether it’s a worthwhile risk to get a little bit more money out of the bookmarkers.

What is Gnoming

It is the name given to opening multiple accounts with bookmakers.

It is a topic that is of particular interest to those that use matched betting as a way to make a tax free income as it opens up more opportunities to benefit from a bookmaker’s free offers.

What is matched betting?

If you’re unfamiliar with matched betting it is a way of profiting from bookmakers’ free bets and promotions and is said to be risk-free, though I believe that there is some risk in matched betting.

There are a number of ways that this could be done from betting on sporting events to taking advantage of their casino offers. 

Are there any advantages of Gnoming

There’s no surprise that by opening multiple betting accounts you are potentially winning more money from the bookmakers, this is especially true for matched betters and professional gamblers, maybe not the case with the now and again gambler.

How do the bookies know whether you are Gnoming

With the vast sums of money that bookies make it’s no surprise that they employ every tactic availed to them to see whether someone is Gnoming.

This could include something as simple as monitoring your IP address to see whether multiple bets are coming from it or monitoring betting behaviour

What will they do if they find out that you have opened multiple accounts?

It should come as no surprise that if a bookmaker suspects that you’re using multiple accounts they will ban you from their site and withhold any winnings that you might have deposited with them.

Sanctions will usually be written into their terms and conditions and 

Why don’t the bookies like people opening multiple accounts

The global sports betting industry was said to be worth a whopping $85billion in 2019, yes billion and that is only on sports betting.

It also makes those involved in the industry whether that is the owners of the bookmakers and its shareholders very wealthy indeed.

Take the founder of Bet365, through her company she has become a very very rich woman, in 2020 her pay was £421m, making her a billionaire, The Sunday Times Rich List put her wealth together with her brother and father at £7bn.

So of course they would want to protect their financial interests.

Is multi accounting illegal?

In asking this question you’re understandably concerned about the legal ramifications of opening multiple accounts with the same bookmaker, you want to win money, not break the law.

Insofar as I can see, and don’t quote me on this as I’m no legal expert, there is nothing criminal in opening multiple accounts with the same bookie but there is a caveat.

If you’re opening multiple accounts, changing your own credentials to get past their verification processes, this is a fraud as you are deceiving the bookmaker with the intention of obtaining financial gain.

The sanctions the bookmaker might take will depend on their terms and conditions.

Bet365’s Ts&Cs specifically state that:

All information supplied when registering with the site MUST be your information and be accurate and complete in all respects. Where this is not the case, we reserve the right to suspend the account and treat any deposits into the gambling account as being invalid 

They also state that:

bet365 will seek criminal and contractual sanctions against any customer involved in fraudulent, dishonest or criminal acts via or in connection with the Website or bet365’s products. bet365 will withhold payment to any customer where any of these are suspected or where the payment is suspected to be for the benefit of a third party. The customer shall indemnify and shall be liable to pay to bet365, on-demand, all Claims (as defined in paragraph B.4.3 above) arising directly or indirectly from the customer’s fraudulent, dishonest or criminal act.

Again, I’m not a legal expert but if you do open an account for the purposes of 

What if all you want to do is place a bet for someone else?

Knowing that you have a sure-fire way to win money is certainly something that you might want to share with those around you but betting isn’t for everyone and some people would rather you do it for them and this is where it can become complicated.

If you are opening another account with the same bookmaker but using the other person’s details, including their bank details, you’re not effectively Gnoming as there is no connection to you.

Unfortunately, bookies don’t allow placing bets on behalf of someone else either and that includes that person putting money in your account.

Again, the bookie’s sanctions for placing a bet on behalf of someone would be written into their terms and conditions.

The reasons being that there could be these bets could be being placed with money that has been made fraudulently or are proceeds of crime or you are placing these bets for the purpose of money laundering.

What are the risks in Gnoming

The idea seems harmless enough but I think it’s important that you take stock of why you’re wanting to open multiple accounts with the same bookmaker?

Is it that you believe that they have the better offers, or is it that you’re chasing a loss that you want to get back from them?

If it is then maybe you shouldn’t be thinking of Gnoming or continuing to gamble at all.

Are there any ways of getting away with Gnoming?

I’ve read websites that give advice on how to get away with opening multiple accounts by using the various forms of technology available to us.

These include:

1. Using a VPN
2. Logging onto your the accounts using different devices
3. Buying equipment that when turned on and off again gives you a new IP address

I’ll say that if you have to use these methods to do something that is supposed to be fun, that would certainly send alarm bells ringing with me.

What are the alternatives to Gnoming?

Opening accounts with different bookies

This might seem obvious, but opening an account with multiple bookies rather than multiple accounts with the same bookie might be an option if you’re looking to benefit from multiple offers that are often given by these bookmakers.

Using a matched betting service

If you’re looking to maximise the profit made on bookmaker offers you could sign up to companies like Profit Accumulator, who for a small monthly fee, near enough hold your hand to enable you to get the maximum profit from a bookmakers promotions and free promotions. 

Conclusion

In the post, I highlighted the advantages and risks of Gnoming and its legalities and where they might result in more issues than the potential profits you will make.

For some, those benefits far outway the risks and they will continue to operate multiple accounts until such a time they are caught.

Whether you decide it’s worth the risk will depend on a number of factors, but I think the most important question to ask yourself is why do you want to open multiple accounts.

Remember, unless your matched betting, you’re gambling and there are no guarantees and chasing losses which more often than not are the result of gambling could cause more issues than were expecting when opening your multiple accounts.