Profiting from Free Bets
Bookmakers give out a lot of Free Bets. It’s a way of them hooking you into betting even more with them. Did you know though that you can lock in a profit on every free bet you get no matter the result?
In my previous matched betting post I showed you how you can extract free bets from a bookie completely risk free. Now that we have a free bet we need to turn that into a guaranteed profit!
In the last post we managed to get ourselves £20 worth of free bets from Coral by placing a £5 qualifying bet. Coral give us this £20 in the form of 4 x £5 free bets. To make it simple we will use all 4 free bets on the same selection and so treat it like one £20 free bet.
To use our free bet we need to find something appropriate to bet on. The higher the odds the more profit we will make. Ideally we want to bet on something that is above 5.0, again we need to find a close match at the exchange.
Looking at Coral I have found a Horse that is running today at back odds of 9.0. The current lay price on Betfair is 9.2
This is a perfect selection for our free bet. Place a £5 bet on Coral making sure that you select one of your free bets on the betting slip. Once this is placed repeat the process 3 more times for a total of £20.
We can now use the TrickyBet Calculator to work out what we need to lay in order to make a profit. Click here to launch the calculator.
Set the calculator into free bet mode.
Then enter the odds as shown. Remember to set your exchange commission to 5% if you are using Betfair.
As you can see, from this £20 free bet we are locking in a profit of over £16.50 no matter the result of the race. If the horse wins we are making £16.58 profit and if it loses we are making £16.62 profit. Once the bet settles our profit will either be in our Coral account or our Betfair account.
By doing this with every free bet we get we can make long term profits. Especially when we have layed the qualifying bet meaning that we never lose money on our bets. We only profit.