Earn A Free Bet When You Back A Winner Strategy

By | January 31, 2017

Earn A Free Bet When You Back A Winner – A Matched Betting Strategy

One of the most common examples of this type of free bet offer is found on Betfair.  The promotion is:

“Back a winner at odds of 3/1 or greater on selected races and earn a free bet up to £25.”

There are 2 ways that this bookmaker offer can be approached.  The straightforward back and lay matched betting strategy, and The Overlay strategy.

 

Overlay

This method involves overlaying the bet at the betting exchange.  This will result in a profit at the betting exchange if the lay bet wins.  However, if you win at the Bookmakers, there will be an initial loss until you claim your free bet.

To work out the Lay stake, add 0.7 to the decimal back odds.  (0.7 represents the 70% extraction aim from the free bet).  Let’s look at a theoretical example:

 

  • Stake = £25
  • Back Odds = 4.50
  • Lay Odds = 4.80

To Overlay this scenario, we must add 0.70 to the Back odds.

  • New Back Odds = 5.20
  • Lay Odds = 4.80

When we enter this information into a matched betting calculator (click here), we can see the lay stake required.

As we can see from the profit breakdown, no matter the outcome, there is a guaranteed profit of at least £1.64!

 

Important to note:  If the bookmaker bet wins initially, it is necessary to lay the free bet at the betting exchange to achieve the profit shown above.

 

Back and Lay Method

This method relies on straight forward matched betting.  Back a bet at the bookmaker and lay the corresponding bet at the betting exchange.

It is advisable to find close matches so that qualifying losses at kept to a minimum.  If your selection does not win, then a small loss will be incurred from the offer.  This is a low-risk betting strategy which does not guarantee a profit.

Summary
Earn A Free Bet When You Back A Winner Strategy
Article Name
Earn A Free Bet When You Back A Winner Strategy
Description
One popular bookmaker promotion is the earning of a free bet when you back a winner but did you know that a profit can be guaranteed from this type of offer?
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Publisher Name
The Matched Betting Site
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