As you know bookmakers as they compete for the money of the people placing bets, will give incentives of free bets. The way it works often is that they give a free bet of 25 euro when you place a bet with them of 25 euro. There are other rules also but most are workable. I have got free bets from a few bookmakers when I was doing the Arbitrage betting earlier in the year.
How about this for an idea…
What you do is to place the 25 euro bet with the bookie that has the offer available
Place a lay bet at Betfair to lay off as much of the first bet as possible. You might end up that it could cost less than 1 euro to have the Free bet made available to you .
The next part of the trick is to cash in on the money…
You have to use the free bet then to get your hands on a risk free amount of money which could easily be 65% of the Free bet. In this case 65% of €25 is 16.25 euro
OK then look for Back and lay odds at the bookie and Betfair to be close and Back Odds of 3.5 or higher
So here is an example:-
BACK team one at the bookmaker with your free €25 at odds of 4.25
LAY team one at BetFair with €17.5 – the liability will be €63
If team one wins - you win €81.25 at the bookmaker and lose €63 at Betfair leaving a profit of €18.25.
If team one loses – you lose €0 at the bookmaker (You used free money remember) and win €16.62 (after commission) at Betfair.
For me it is easier to get money back into my hands from Betfair so the scenario of team one losing is better for me and my betting bank is increased at Betfair – or I can move the money to my bank account really easy.
If team one does win then you just do step two again with a larger amount of money – Depending on the Bookmaker and the rules of the bonus you might be able to take the money out and put in your pocket.
Get a spreadsheet to work out the best way to work out the numbers for this from Bet72.com
Keep you posted……
