This subject has been covered extensively on this forum, but for the avoidance of doubt:Yes you can decline the offer with no legal consequences: you have not even signed the contract, and even then it only becomes binding when you actually set foot on company property or that of an organisation they are contracted to (such as joining a project direct on client site). Verbal acceptance does not consitute an acceptance, it constitutes an indication you intend to accept (consider your local laws though - if you are not in the UK this may not be the case and in some countries verbal acceptance is binding).Whether you close the door depends on how you handle it: they are not idiots I presume, so will be able to tell if you feed them a line. Be honest and to the point - you have had a counter offer which you intend to accept and are therefore declining their offer. Morals do not come into it (look at it this way, if they were firing you not hiring you, would they not do so for moral reasons? No ).Consider this though: most individuals who accept a counter offer return to the job market 6 - 9 months later: the counter offer is unlikely to address any core reasons you wanted to leave in the first place, and once your current employer has had to buy you back, loyalty - and trust - have been broken. They will begin looking for a replacement for you (discretely) before the ink is dry on your counter offer, so be sure - ABSOLUTELY sure - the counter offer addresses whatever points made you apply elsewhere, and see this as a stay of execution on your current role - 12 Months max I would say, before you want, or have to, start looking again.