The Free Bets

What is a Free Bet ?

Free Bets are the best part of Matched Betting, simply because we don’t have to use any of our own money, we are using the free bet that the bookmaker has given to us.

Bookmakers give away free bets to entice customers to place bets with them, there are a number of different type of free bets you may be offered such as “Bet & Get” sign up offers to “Money Back If” a certain event happens.

Most bookmakers will offer some kind of incentive to get you to place bets with them and they don’t really mind giving away free bets because they know in the long term they will make money from the less savvy punters who we call “Mug Punters”

How Do Free Bets Work ?

Free Bets are used in a similar way to the Qualifying bets, you need to find a selection with close qualifying odds and place a back bet at the bookmakers and a lay bet at the betting exchange. The slight difference is with the Free Bets we look for higher odds to maximize profits and Use the calculator in (Free Bet SNR”)Mode.

If you are still unsure you can view the Matched Betting Guide.

No matter what the outcome of the event or match that you select you will either win at the bookmaker and lose at the betting exchange or win at the betting exchange and lose at the bookmaker because the 2 bets will cancel each other out, either way it way you will make a nice profit !!

Most free bets will be credited as a “Bet Token” and can be found when you enter a selection into the bet slip at the bookmakers. With most free bets you only receive the winnings from the free bet and you do not get the stake of the free bet returned (SNR).

Finding a Free Bet

Check the terms of the offer

It is vital that you check all terms & conditions on a Free Bet offer before you attempt it, you might make an error if you rush in and not meet the criteria that is required and then not receive the bonus or free bet.

The Qualifying bet may need to be placed on a specific sport or specific event or have specific odds and more than likely will have a time limit on it.

Most free bets offered by bookmakers have an expiry time, this is the amount of time that you have to use the free bet before it expires and is taken away. Always try to use the free bet as soon as possible but if you do happen to miss the free bet you can contact the bookmaker to ask them to reinstate it but they have no obligation to do this.

Here is the welcome offer from Ladbrokes where you will get a £20 free bet when you place a £5 Qualifying bet. The key terms for the Free Bet are listed below.

The key free bet terms to note are as follows…

  • Credited as 4 x £5.00 free bets.
  • Valid for 7 days.
  • Stakes not returned.
  • No cashout.

Higher Odds

You should always try and place the Free Bet with higher odds to maximize your profit. Look for higher odds that are close together, we use higher odds as we know that the stake will not be returned (SNR) along with any winnings.

By using higher odds you will have a higher liability at the betting exchange, the liability is the amount you need in the betting exchange to be able to cover the “Lay Bet” if the free bet wins at the bookmaker.

Should you not have enough funds in the betting exchange to cover the liability of something with higher odds then simply look for something with slightly lower odds where you can cover the liability. Taking lower odds is fine but it will slightly reduce the profit you will make. If you are still unsure about how to lay a bet you can view the “What is a Betting Exchange” Guide

Free Bet Example

Place a £20 “Free Back Bet” on The Draw at the Bookmaker (Ladbrokes)

Odds 4.00

Place a £14.29 “Lay Bet” on The Draw at the Exchange (Smarkets)

Odds 4.20

Use The Calculator in (Free Bet SNR) Mode

Calculator Worked out the “Lay Stake” & Also how Much Liability I needed in the Betting Exchange

Regardless of whether The game is a Draw or Not you will make a Profit of £14.27 from your £20.00 in free bets.

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