Matched betting is actually not gambling. U Matched betting (also known as back or lay bet matching, arb betting, or double betting) is a betting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered a risk-free bet as it is based on the application of a mathematical equation rather than chance. A typical return for a matched bet where the stake is returned is 85%+ of the free bet offer amount, and 70%+ where the stake is not returned. So for example, if you see an advert for a bookmaker and they are giving away a £10 free bet - on average, using the techniques and with the help of software, video guides you will be able to 'unlock' £7 of that free bet as profit. That's real money that you can withdraw and spend on whatever you like. Its a risk free and not gambling. Is that haram in islam??
Here is a summary of how a simple case of "matched betting" works: You make four bets on two binary events. You make two bets on both possible outcomes of the first event, so that you neither gain nor lose any money, as a win is offset by the loss. Making the first bet unlocks a promotion where you get free money to bet on another event. You use this to bet on one side of the second binary event and also spend your own money to bet on the other outcome. Now, no matter which outcome happens you will be left with a profit since the bet on one of the outcomes was not from your own money.
We can make the following observations:
Individually, each of the four bets are gambling in every respect, it is only when they are combined that you end up with a guaranteed profit.
The only reason you make a guaranteed profit is because you use money gifted by someone else.
You earn because of a trick, you haven't exchanged any real product or service.
The money ultimately is coming from people who lose it at ordinary gambling.
So, I think it should be haram since it is still gambling, the only difference is that you manipulate the system to guarantee that you actually win. الله اعلم