Bookmakers free bets are a way of making money from free bets at home online. Basically, to draw in customers bookmakers will offer a sign-up bonus in the form of a free bet.
Under normal circumstances when you place a bet, say on a football match, you bet a certain amount of money for the team you’ve chosen to win. If it loses or the match is drawn you lose your money. If it wins then you’re in profit.
Matched betting is a way to manipulate your odds to make sure that you make a profit, rather than a loss. Most people who use this method as a form of making use a matched betting site like Odd Monkey or Profit Accumulator. Both these sites charge a monthly fee but they do have free trials so that beginners can learn more about the matched betting process.
You can either browse each bookmaker on the web or go to a website such as laymybet.co.uk. This website will give you all the information you’ll need to find free betting.
Before you start there are some terms you’ll need to understand and these are:
A bet you place for a certain outcome such as Chelsea to beat Liverpool. If the outcome is as you predicted you’ll win your bet.
This is a bet you place against the outcome of your backing back. For example, your backing bet is for Liverpool to win, but your lay bet is for Chelsea to win. Lay bets must be placed on betting exchanges like Betfair.
A free bet is a promotion offered by a bookmaker to encourage you to sign up and open an account with them. Free bets are subject to terms and conditions, so you should read them before you use the free bet. Normally you will have to spend money on a bet before you are given your free bet.
You will an account with a betting exchange like Betfair and with the bookmakers who are offering the free bet. For example, William Hill might offer you a free £20 bet if you spend £20 with them.
Once your account is opened you should choose something to bet on, preferably an event with only a win or loss outcome, a tennis match for example. Look at the odd and pick a match that has similar odds for both outcomes. It will be easier to do this if both your accounts are in decimals. Then you can make your backing bet with William Hill and your lay bet with Betfair. There are various ways to make a profit from free bets, and the websites such as profit accumulator explain ways of doing this. However, once you understand the concept then there is no need to pay a subscription to the site as you can do everything yourself one you have understood the concept.
William Hill offers new clients a £20 free bet if you place a £20 bet with them. Find an event that only has a possible win or lose outcome, for example, a tennis match, snooker match, darts, the sport really is irrelevant, but it must be an event with only a win or loss outcome and similar odds for each player is all that’s required.
For example, a tennis match with odds of player A @ 10/11 and player B @ evens, you place £20 on player A with William Hill and Lay player B to win £20 with Betfair, this will cost £22. So whichever player wins you will have returns of £40.
You will have lost £2 but you released the £20 free bet with William Hill. So you can now repeat the process with the free bet and guarantee yourself a profit or you can have a £20 bet with only a maximum possible loss of only £2.
Remember to read the terms of the free bet offered by each company carefully as they can differ in the way you qualify to release the free bets that are offered. When placing bets on the Betfair Exchange you should be aware of the fact that unlike traditional bookmakers who charge no commission on bets, Betfair charges 5% on all winning bets.
This 5% commission is reduced over time based on a number of bets placed. Even after this commission is paid there is still a healthy profit to be made from the various bookmaker’s offers.