Scottish born Jim Hay and his wife Fitri are perhaps some of the most well-known faces in the world of house racing today. Their long love affair with the sport has seen them associated with numerous high profile horses and trainers over the last couple of decades.

Buying shares in Cape Blanco and Fame and Glory, who won the 2011 Ascot Gold Cup, the couple have, to date, invested millions in the industry. Success has enabled them to expand their breeding operation over the years. From his early years in Glasgow and his later career at BP, Jim Fitri has always maintained a close connection to the world of horse racing and betting.

Early Days

Jim Hay was born in Scotland in 1950. Brought up in Glasgow, there was no serious link to horse racing in his formative years as he grew up in a strictly Presbyterian family that frowned heavily on anything to do with gambling. At high school, however, he started to become more and more interested in betting because of the maths behind it and began to find ways to get involved in horse racing, most noticeably watching it on television with his grandmother.

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As a young man, he attended Strathclyde University where he studied applied chemistry. This led him after graduation into working for petroleum giants BP, where he successfully stayed for the next 27 years, working his way up to senior executive level.

In 2002, Hay started his entrepreneurial career when he created the JMH Group which developed two distinct divisions, the first dealing with construction, the second lifestyle and fashion. He also acquired construction solutions firm Fosroc. All the while, however, his continuing attraction to all things horseracing remained and it wasn’t long before his Fitri began to play her part in the industry as well.

Horse Racing and the Hays

Anyone who believed that Jim and Fitri Hay were simply rich and successful people dabbling in the world of horse racing purely as a hobby were simply wrong. Their love of all things equine belied the fact that they have made some major investments in horseflesh over the years. They take their involvement in the industry as a serious business and understand the high risk, high rewards that can be achieved from investing in the right livestock.

His past business dealings with BP and work in JMH Group have held him in good stead when it comes to navigating the world of high quality breeds. As Jim Hays told the Guardian recently:

“Everything we do will have a 15-year strategy, and we run our racing the same way. We will have a long-term strategy, and a five-year business plan to back it up. We have board meetings at which we discuss everything.”

Success and diversification with the JMH Group created a turnover of $600 million and in 2011, the couple found themselves in Scotland’s top 100 richest people list. Now based in Dubai, the couple decided to forge a path in the world of horse racing at the turn of the millennium, all with the same energy and whole heartedness that they had applied to their other business interests. They were aware that the returns from investing in horse racing could be huge but it was also something they both enjoy immensely.

Fitri – From Racing Widow to Racing Enthusiast 

Horses weren’t an initial first love for Fitri, however, who became something of a racing widow in the late 90s because of Jim’s involvement in the sport. He was spending the weekends looking out for race courses to visit, all of which left Fitri the option of staying at home or joining in. It led them to buy their first horses, both of which according to Jim were ‘next to useless’. But that didn’t stop further investment over the next few years as they began to learn more about what they were doing. Fitri now owns several horses and is one of the most well-known faces in the industry. 

First Winner Finally Landed

The Hays had to wait for a long while before their first winner came along. That didn’t happen until 2004 when Barathea Dream, trained by Stan Moore, passed the finishing post in first place. Two years later, Hay was buying Fred Winter’s Uplands, setting up with Moore as the trainer. The aim of Uplands was to create winners, pure and simple, attracting other investors who were willing to buy shares in some impeccably bred horses.

Their most successful year came in 2010 when they managed 27 winners that brought in a healthy £375,000 in prize money and allowed both to join in the Queen’s procession at Ascot. The Hays purchased shares in Cape Blanco out of the Ballydoyle stable which won in three American Grade 1 races in 2011 as well as Flame and Glory which achieved ultimate success at the Ascot Gold Cup.

The couple flew in from the Dubai home to take part in the celebrations when Fame and Glory won and it remains their most significant achievement in their racing careers. Key to their success has been building relationships with many of the world’s top trainers, including Ballydoyle, David Simcock, Andrew Balding and Roger Varian.

Here Comes When – One of the Best

Probably one of their most successful horses in recent years has been Here Comes When which is trained by Andrew Balding. The horse has had 25 runs on the flats with 7 first spots and earnings of over £275,000. Another is Argocat, trained by Nicky Henderson, which has had 4 wins on chases, including earnings of over a hundred thousand. The horses are owned by Fitri and the couple are still looking to expand their breeding operation over the next few years.

In 2011, Jim and Fitri Hays purchased Birch Grove, the former mansion of Prime Minister Harold MacMillan, a location that includes its own private golf course and has entertained guests such as John F Kennedy in the past. The couple continue to invest in their horses and are still hoping for the next Ascot or Cheltenham winner with as much excitement as in the early days.

Check out our guide to the Best Horse Racing Tipsters here

You may have heard about matched betting from friends or family and it sounds like a great idea: make free money  by taking advantage of the bookmakers’ free bets.

But you may also be wondering: is it legal?

The good news is that yes, as long as you are over 18 and live in the UK or Ireland, then it is legal.

The bookies themselves have even confirmed this. Here is what Graham Sharpe from William Hill, one of the UK’s biggest bookies, said about matched betting:-

“There’s no illegal element. It’s a free bet and you can do what you like.” That was from a Daily Telegraph article in 2010.

A big relief then that you are able to legally match bet. But there are some potential snags and catches with matched betting you should be aware of, which we have a look at in more detail below.

What Exactly is Matched Betting?

First up, before we get into the nitty-gritty of things, it is probably worth going over what matched betting actually is in case you are not sure.

Basically, matched betting is the art of using the bookmakers’ free bets and bonuses to make risk-free cash. You can read our full guide to matched betting here. 

You see, when a bookie offers a “free bet,” it often isn’t actually a “free” bet in the true sense of the word. 

You will normally have to place a qualifying bet first using your own money, so if that bet loses and then the free bet loses, you will be out of pocket.

Plus the free bets often come with strings attached, like you have to wager a certain amount before the bookies will credit you with the free bet or your winnings.

So what great matched betting packages like Profit Maximiser do is take all these offers – and there are literally dozens and dozens of these offers every month – and show you how to set them up in such a way that you cannot lose, whatever happens.

Matched betting is risk free by virtue of using what is called an exchange like Betfair or Smarkets, which are platforms where people bet against each other rather than the bookies.

So what you can do is hedge your bets, so that you bet against – or in other words “lay” – your free bet with the exchanges.

If done in the right way to the right stakes, this will ensure you cannot lose and will make a nice profit.

Do this over and over again and you have yourself a nice little earner.

Now you can see why matched betting is so popular!

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Why is Matched Betting Legal?

Given that it is sure-fire way to make money, you might ask why matched betting is legal.

The bookies are eager for your custom – hence offering free bets.

Well, the truth is that you are doing nothing wrong. The bookies are offering you a free bet, which you are perfectly entitled to use – and you are also perfectly entitled to hedge that bet elsewhere if you please. 

Both parts of the “matched bet” are legitimate in the UK and therefore they also legitimate as a whole.

The bookies provide these free bets because they want you to sign up as a customer – the competition amongst bookies is fierce so they have to offer an incentive for you to sign up to them rather than one of their competitors.

Whilst the bookies may acknowledge the legality of matched betting though, that doesn’t mean they like it – and that is what you have to watch out for…

The Bookies Don’t Like It – As in Really Don’t Like It

So yes, matched betting is legal and the bookies have acknowledged that. But that doesn’t mean they like it.

You see, what the bookies really want – and need if their business model is to succeed – is for punters to lose.

People who just use the free bets and bonuses are unlikely to be losing much money and most will be making money. Some who use matched betting packages that bring together all the offers make thousands of pounds from it. Hence the bookies not liking it.

So if they see that you are taking advantage of their free bets and not doing much – or any – other betting then they will be likely to shut down your account or to stop offering you the free bets.

That is their right and unfortunately under current law, there is nothing you can do to force the bookies to reverse the decision once they have limited you or shut you down.

Thankfully though, there are plenty of other bookies out there, so you can just move on to the next one.

Plus there are a wide range of steps you can take to avoid the bookies limiting you in the first place, which we have detailed here in our rather handy little article “How to Keep your Bookie Accounts Open.”

When Things Get a Little Sinister 

The sad fact is that the bookies have become a little worried about so many people doing matched betting so have recently taken to tracking the activity of punters.

The bookies can use spyware to track your online activity.

They do this via spyware such as Iesnare, which sits hidden in the background on your computer and tracks whether you are doing any matched betting.

This is very sneaky and to be honest, a little sinister. We are also somewhat surprised that it is legal. Some people are apparently challenging it in the courts, but for the time being it is allowed.

Thankfully, there are steps you can take to  stop the bookies spying on you by using some very clever software called Jolly Lock IP , which we explain here. 

What You Shouldn’t Do

As you may have gathered by now from reading this article, the battle between bookies and punters over the question of matched betting has got quite extreme and it will be interesting to see where things end up.

One thing you should not do though is open another bookie account using a different e-mail or name. This is illegal so please don’t do it. 

The bookies have terms and conditions that state you are only allowed one account per customer, so respect their t&c’s.

Some bookies even have stipulations that only one account is allowed per household, to stop people from using a partner’s/brother’s/sister’s/third-cousin’s-once-removed details to sign up for a new account. 

This may seem a little over the top but they are allowed to do this, so again we have to respect their rules whilst they are entitled to do this. 

Matched Betting Outside the UK

The opportunities for matched betting outside the UK are fairly limited. In the first instance, in a number of countries gambling is illegal, therefore ruling it out straight away.

In some other countries like France,  betting exchanges are banned, thus eliminating the chance to match bet.

Even in countries where both gambling and exchanges are allowed however, in many of these places the bookies do not offer free bets, thus meaning you can’t match bet.

So with the exception of the Republic of Ireland, there are limited opportunities to do matched betting outside the UK unfortunately.

Conclusion

Matched betting is legal in the UK and you should have no worries doing it. As long as you are over 18 and don’t try to open multiple accounts with the same bookie, then it is perfectly ok.

Make sure you take steps not to have your accounts closed or limited due to abusing the offers though, as it is a real shame when you lose your accounts.

Done properly though, matched betting is a great opportunity to make some risk-free cash and to buy yourself a few things you deserve with the proceeds. 

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Today we want to tell you about something that we honestly believe is the best opportunity we have ever come across for you to make a full-time living from betting systems.

It is a system we have tried and tested ourselves and can confirm is absolutely genuine.

What we are talking about is a step-by-step guide to making a significant income from betting systems – or more specifically – matched betting systems.

It is something that can take you from being a complete novice to becoming a full-time matched bettor, making £3,000 per month – or more.

It is called Project Prosperity and it is run by the original Matched Betting Guru – Mike Cruickshank.

It is not easy – let us say up front that you will have to devote time and energy to learning how it works and perfecting the techniques.

If you do though, the rewards can be immense.

There are people out there who have made in excess of £100,000 from matched betting by perfecting the techniques Mike will show you on Project Prosperity.

So what is Project Prosperity Exactly?

It’s basically made up of two parts:

    1.  A series of live webinars by Mike Cruickshank, showing you in person how to build a £20,000 bank and withdraw a monthly profit of £2,000 – £3,000.

   2.  Lifetime access to Mike’s Betting Mastermind – basically all 9 of Mike’s Matched Betting products in one package, saving you over £1,000 on the cost of joining all these separately.

This is the best betting package we have come across and it could genuinely change your life if you join it.

But we want to make a few things clear before you consider signing up:

     – It is only for people who are serious about making it work. The fees are £97 + VAT up front, then three monthly payments of £197 + VAT – so not cheap! Please don’t sign up unless you really want to become a serious matched bettor and make a significant income from it. 

    – As we say above, you need to be prepared to put the time in to learn the systems – Mike will take you through it all step by step, but you do need that commitment.

   – It will only work for people in the UK and Ireland – unfortunately this is because bonus offers from the bookies aren’t available in other countries.

Please note that this is limited to 1000 places for the project and they are filling up fast, so if you want to get on board then we suggest doing so quickly.

You can sign up to Project Prosperity here.