How to turn Free Bets into cold hard cash $$$$

[Dutchy]

Ive had a few queries how to do this, instead of using the free bets bookies offer to have a free stab at a win you can guarantee some cash from them to increase your punting bankroll, this is how you do it -

Say today you join Sportingbet and deposit $30-, you will get a $100 free bet for joining.

Option 1

You can put it straight on a Line Bet say Adelaide -10.5 $100 (free bet) @ $1.91, if it wins you will get $91 profit.
Then go to another bookie or TAB and back St Kilda +10.5 for $50 @ $1.91.

Adelaide win you win $91 at Sportingbet and lose $50 at the other bookie = $41 profit
St Kilda win you win $45.50 at other bookie and lose nothing at Sportingbet (free bet remember?) = $45.50

cant lose

Option 2

You need Betfair for this one, but can make more from your free bets with this method

So you have your $100 free bet at Sportingbet, you now ned to find a close match between Sportingbet and Betfair.

Lets say Richmond tomorrow are paying $8.00 at Sportingbet and you can LAY them at Betfair for $8.20

$100 free bet on Richmond at Sportingbet @ $8.00 = $700 profit if wins

Now you LAY Richmond at Betfair for $8.20 for $86- (Liability of $619.20)

Sooo if Richmond win you win $700 at Sportingbet and lose $619.20 at Betfair = $80.80 profit
If Richmond lose you win $86 at Betfair less $4.30 commision = $81.70 profit


So as you can see with Betfair a free bet can be turned into about 80% of its value in cold hard cash

any questions feel free to ask....

[Zelezny Chucks]

To do option 2 would you need the $619 in your betfair account when laying the bet?

[mickey]

yes, you need the money in to cover any potential pay outs

[Dutchy]

I should have added that the higher the odds in Option 2 the better return you will get, obviously need to have the funds available in BF

can still do it with say a $3.00 shot, you will still make around $70 from a $100 free bet

[rooburger]

Dutchy.
I only wished i had your gambling brain.
My maths sometimes stinks .

[mickey]

Not so much the brain, more like the bankroll to be able to lay off on betfair

[Dutchy]

I have a spreadsheet that works it all out for me, just key in the figures and adjust the stakes to work out the profits, easy

[Browny25]

Why dont you pass this spreadsheet on!!?

[stampy]

hey dutchy, my lad has a $50 free bet with sportsbet, if he says puts a line bet on the nrl say the dragons @1.91, would they veto him backing the bulldogs say $25 @1.91 giving him a guaranteed profit of either 22.75 or 20.50?

[Mr_Willy]

They will not allow it... They're not dumb.... You can't bet on both side of things like that...

Need to do it with different agencies.....

[stampy]

cheers for that

[Dutchy]

They will not allow it... They're not dumb.... You can't bet on both side of things like that...

Need to do it with different agencies.....

yep spot on, do it somewhere else, even is its down at the tab