I found odds of 5.3 for Accrington Stanley to beat Nottingham Forest, and I managed to lay this at odds of 5.2 which I laid with a stake of £8.35. Because this is a free bet, I had to enter a “Stake Forfeit” value of 10, as the free bet had a value of £10.
This would have been a loss of £1.17, but because the bet it is a free-bet I will have actually earned £7.93 from this bet.
I have enclosed a screenshot below to show the figures needed for this bet. Take note of the Stake Forfeit column which is usually blank but this time displays the figure 10.
When a Bookmaker offers a free bet which is stake-not-returned, it is basically eliminating the possibility of making money from the free bet by placing it on a dead cert. For example, say there was a £10 matched bet being offered by a bookies – you have to bet £10 to receive a free £10 bet. You could simply bet £10 on an event which is very likely to happen (Man Utd to beat Scunthorpe Utd, for example). You would probably win £1 from this bet, and so you will have £1 profit. You would also have a £10 free bet to use, and you could again bet on an event which is very likely to happen. You would then win £1 profit but you would also have gained the £10 free bet as your own money. Overall you would have £12 profit (£1 winnings from qualifying bet, £1 winnings from free bet, and the £10 free stake).
To counter this way of betting Bookmakers introduced the “stake-not-returned” scheme for free-bets. This means that if you place your £10 free bet on a dead cert, you would only gain the winnings from the bet, and not the original £10 stake.
This is why it is best to bet at high odds when you have a SNR free bet, as at high odds you are going to gain higher winnings.
Having done the 1st set of free bets offered by Ladbrokes, I decided to take advantage of another Bookmaker whilst waiting for the next weekend of Premiership football.
UKBetting were listed on the Quidco website, and when you sign up to them and place a minimum bet of £10 you will receive £10 cashback. I signed up to these and found odds of 3 and then laid at 2.8 for a draw between Nottingham Forest and Accrington Stanley. This left me with a profit of 36p (the figures above were an Arb, at a closeness of 103.64). There were no bonuses or free-bets available on the UKBetting website at the time of making the bets, but I will have earned £10 cashback from Quidco.
Today’s free-bet earnings: -£1.17 (yesterday included the £10free-bet before receiving it, so have removed the loss from the bet).
Today’s cashback earnings: £10.36 (including the 36p profit on the qualifying bet)
Today’s overall earnings: £18.29
Earnings so far: £219.57
1 comment:
Hey cool betting blog.
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