Matched Betting is both 100% legal and a legitimate way to make money online. Essentially when broken down, you are just placing two bets on different bookmakers sites, but on the same event. Whats even better, because placing a bet is classed as gambling, all profit made is completely tax free. Matched betting does not effect your credit scores, but due to frequent betting activity showing on bank statements, it’s a good idea to set up a separate bank account for matched betting.