Risk Free Bet Offers (Money Back On Losing Bet) – How To Lock-In Profit Smartly

Risk Free Bet Lose Bet Refund

Estimated Reading Time: 20 minutes

Ever Wondered How To Extract Profit from Risk Free Bet Offers Without Fail? No More Worries, Use Simple Underlay Method!!  We Provide You With The Specific Instruction On How To Do It!!

Risk Free Bet Offers Introduction

Firstly, many people automatically think “Betting = Gambling". Big Misconception. We do bet but don’t count on luck. Instead, we do

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6 Advantage Plays based on mathematical edge to beat the bookies, casino & bingo. When it comes to the Sports Betting, we use Matched Betting / Sports Arbitrage / Value Bets On Proven Tipsters to lock-in profit or consistently earn extra income for long-term. With that said, one of our policies is “Betting On Chance Is For Losers, Stop Gamble Betting But Bet on Only +EV (Expected Value) To Win Reliably“. It is effectively our way to promote Responsible Gambling under the regulation, and we strongly support GambleAware

gambleaware logo being explained in about us. We GEM – Global Extra Money would like our readers to exploit such reliable profit making opportunities by accessing to our FREE instructions conveniently. And providing the guide of How To Lock-In Profit from Risk Free Offers (lost Bet Refund) in this document is part of our efforts to achieve that vision. risk free bet offers, bet bright offerBTW, all the bookmakers we list not only in this article but also in our entire site are needless to say legitimate and being regulated by UK Gambling Commission or prominent gaming control board such as International Association of Gaming Regulators (IAGR), North American Gaming Regulators Association (NAGRA) & Gaming Regulators European Forum (GREF) etc. So, basically they are remote from scum, fraud or any wrong doing. However, too much winnings could cause a big headache for everybody such as Bet365 over £1m payout Megan McCann court battle, so Be Modest, Just FYI.

What Are Risk Free Bet Offers All About?

‪What are Risk Free Bet Offers? As briefly said at the beginning, you may see a lot of bookies’ advertising like ‘If you lose your 1st bet we refund you all in the form of Free Bet" etc. The risk free bet offers are quite popular not only as a sign up promotion to new players but also reload offers to existing players (see the examples in Appendix at the bottom). However, many matched betters seems to be unaware of the Way To Lock-in Profit from this offer. So I will share the technique to do so. risk free bet offers, england match offer

Underlying Method

Matched Betting Quick Recap

BTW, are you familiar with matched betting? Just in case you’re completely new to this concept, suggest take a look at Matched Betting For Dummies;Matched Betting For Dummies - 9 Essential Things You Should Know Before Staking Any Real Money But allow me to recap how it works very briefly. If you are a regular matched bettor, just skip this section and jump to the next. Matched betting is all about turning bookmaker’s offer often in the form of Free Bet into Real Cash Profit. The simplest example is Bet XX Get YY Free Bet. So, first we have to Bet XX, which is so called Qualifying Bet. It involves;

  • 2 transactions of Back (bet on win) at Bookmaker & Lay (bet on NOT win, means both lose & draw like football match case) the appropriate stakes at Betting Exchange such as Betfair or Smarkets so that you cover all outcomes.
  • No matter what the event’s result will be, your losing & winning will cancel out each other. In the real practice, usually 2 bets are not perfectly offset due to the odds difference & exchange commission therefore you make a small loss called Qualifying Loss.
  • However, now you get YY Free Bet. Then you repeat the same transactions but using the free bet at the bookmaker. Since Free Bet is not your money but free money, therefore it (free bet value – qualifying loss) will become your net profit.
  • Success factor is how to minimize this qualifying loss.
  • In case of Risk Free Bet Offers, you will receive the free bet ONLY IF your qualifying bet at bookmaker loses.
BTW, many people imagine matched betting is for only UK & Ireland, wrong, by using this approach, everybody in the world including US citizens can make decent profits from this risk-free betting technique

As seen from the above process, betting exchange is essential for matched betting. For further details, suggest you click the below box to expand the information;

Bet Exchange Sign-Up Strategies With Real Example

Betting Exchange

It’s critical to adopt the right approach toward the betting exchanges from the beginning, which will affect your long-term profit. Suggest you take a look at Bet Exchange – Ultimate Guide, where you find the Smart Tactics on How To Use Which Bet Exchange in Which Occasion with spoon-fed like instructions. Anyhow, for those who have not opened SMarkets or not even a single bet exchange account, I prepared a step-by-step guide for your quick start. You can effortlessly extract cash from its sign-up bonus of £10 Risk-Free Bet. Actually, this is one of the easiest offers to lock-in profit in the industry. Please follow the below process, which takes less than 10 minutes to complete (actually, this report shows all top 4 betting exchange latest sign-up offers & how to extract cash risk-free from each offer);

Update & Confirm T&C (Terms & Conditions)

  • Firstly, Go To Smarkets Welcome Offer Page and confirm the availability of £10 Risk Free Sign-Up Promotion (or if you’re lucky you may find a better offer they periodically run via that link)

smarkets £10 welcome offer image

  • Read welcome bonus T&C. I know it’s a boring stuff but never try to save time by skipping it to avoid any unpleasant future surprise;

smarkets £10 welcome offer t&c

Simple Sign-Up By Filling Information

  • After confirming the availability of the offer & reading the T&C,  click “SIGN UP" button;

smarkets £10 welcome offer sign up

  • Fill-in the required information related to Account, Personal Information & Deposit;

smarkets sign up page image

A Few Key Points

  • For the deposit method, Skrill & Neteller deposits are not eligible for the £10 bonus.
  • Account Verification. You will receive the below e-mail to verify account. Suggest you do it as quickly as possible to prevent any future transaction delay;
    Bet Exchange SMarkets ID Verification
    Click To Enlarge
  • That’s it. You’re now ready to place lay bets to construct matched betting once you sign-up the bookmakers.

How To Extract Cash From The Offer?

As said, SMarkets signup offer is probably the easiest one. Because you don’t have to do anything. SMarkets will refund your first £10 loss. Yes, even you win thousands of £ before you lose £10, SMarkets will refund that first £10 loss. So, just keep doing the matched betting, and whenever you lose £10 for the first time in SMarkets, you will be refunded, and as you’re aware it’s your profit.

Some Good News

  • Very simple, isn’t it? SMarkets & all other bet exchanges I list in the betting exchange guide are fully licensed & regulated by UK gambling commission. And they all register in IBAS – Independent Betting Adjudication Service, thus you can let IBAS resolve when you face any problem with them.
  • Remember, any income from the matched betting are Tax Free in the UK / Ireland as long as it is not considered as your main source of income.
In case  you can’t access to any betting exchanges in your country use this method We GEM provide various tools enabling every player in the world to enjoy advantage plays.

£2,500 Risk-Free Opportunities

Don’t sign-up Bookmakers directly, Click + To See Little Known Smart Method;

How To Earn £2,500 Risk-Free Cashback
BTW, Matched Betting is all about making the best use of bookmakers’ promotion, thus you need to open up bookies account as many as possible.  All online bookies are in fierce competitive situation thus advertise tasty offers to attract your sign-up. Many punters overlook huge Cashback Opportunities and open up bookmaker, casino & bingo account directly. Stop doing it, you can earn a lot of risk-free cash while receiving the gambling sites’ own sign-up offers & bonuses. We have separately prepared  Betting Cashback Websites – The Ultimate Guide To Be Always Better Offbetting cashback, feature image, where you will find how to collect £2,500 cashback all together. So, from now on, Never Ever Sign-Up Any Gambling Accounts Directly Before Checking the Availability of Cashback Offer stated in the above document.

Typical Mistake Related With Risk Free Bet Offers

Since the condition of the offer is IF YOUR BET LOSES, the matched betting newbies tend to think “placing the bet at high odds with the hope of losing it to get the refund" is the only way to deal with it. Yes, probability wise, betting on long odds will give you better chance to achieve your objective, and in many cases people successfully get refund. But occasionally your bet wins, then you have no benefits from this offer. Therefore, from the perspective of guaranteeing profit, it’s not the best tactics.

Risk Free Bet Offers – Lock-in Profit Method


We can lock-in the profit by doing Underlay – see Underlay: The Technique To Maximize Profit under WR for full details.

Under laying is simply betting smaller lay amount than the amount required in the standard matched betting, which result in;

  • When the back wins, more profit in bookmaker with less liability in exchange, which compensate the no refund in bookmaker
  • When the back loses, less profit in exchange with no profit in bookmaker, which is supplemented by the bookmaker’s refund

Let’s see how it works with the real numbers. This Free Oddsmatcher does all the necessary work for you & Starting Guide: New Customer Offer (1): Basics (Logic & Type of Bonus shows general guidance on how this free software works.

How Exactly Underlay Works

The oddsmatcher looks as below. It’s the order of ideal matched betting means the first one is the most profitable event. Let’s pick up the Horse Racing Pontefract Win Market. Select Flash City between Boylesports & Betfair;

risk free bet offers, horse racing oddsmatcher
Click To Enlarge

You click the Info box at the right end, then you will be navigated into the detail calculation screen as below;

risk free bet offers, oddsmatcher calculation screen
Click To Enlarge

Stake Not Returned

Although your bet is not a Free Bet but a Qualifying Bet, which is supposed to be Not SNR, thus usually you have to select Qualifier in the right top selections. But, this particular case, you need to select SNR (Stake Not Returned) which gets the software automatically calculate UNDERLAYING Simulation. By setting underlay calculation, if you win at bookmaker you will not receive free bet but since your loss at the exchange is smaller, you will ensure profit. Conversely, if your bet at bookmaker loses your win at exchange is smaller but since you will get free bet at the bookmaker thus you will again ensure profit.

Possible Scenarios & Profit / Loss

So the possible scenario & profit / loss are;

  • Flash City wins, you get £80 return but can’t get any refund in Boylesports and lose £71.11, therefore you will have Net Profit of £8.89
  • Flash City loses, you get £9.36 in Betfair but lose your original stake of £10 that will be fully refunded in Boylesports, thus your net profit will be £9.36
  • So, no matter the Flash City wins or loses, you get average £9.125 = (£8.89 + £9.36) / 2 which is a guaranteed profit rather than counting on the luck of Flash City’s lose.

Given the above mechanics, underlaying qualifying bet instead of matching it completely allows you to guarantee the profit on any outcome under the Risk Free offer.


Step By Step Process With Real Example


I’ll show you how to do it by using the example of Dafabet (this example is the old one but the principle & process works exactly as explained); risk free bet offers, defabet sign up offer Dafabet offers £35 Risk Free Bet to new customers.


Firstly, check the process required and off course T&C (Terms & Conditions);

risk free bet offers, dafe bet t and c
Click To Enlarge

So all you need to do is to deposit £30 (to get the maximum refund) and place a £35 bet on the event with odds of 1.5 or greater. After you deposit £30, you need to look for the appropriate event in Odds Matching Software, and we are using SNR calculation, as a basic theory of SNR, the higher the odds the better your profit. You can set the filter & bookmaker selection in;

risk free bet Offers, oddsmatcher top panel
Click To Enlarge

For, odds filter, you may set as;

risk free bet Offers, calculator filter
Click To Enlarge

Then you will see;

risk free bet offers, snr calculation
Click To Enlarge

Obviously, 100% rating (at the left end column) is the best choice, let’s chose the top event of Sigo Horse Racing Win market Niven with Betfair, when you click the right end Info box, you will be navigated to;

risk free bet offers, pre calculation screen
Click To Enlarge

Make Sure You Select SNR Mode

You need to set £30 stake by choosing Stake Not Returned button at the top right. So the above calculator shows average £26.67. The scenarios are;

  • If Niven wins you get £240 in Dafabet without any refund and lose £213.33 in Betfair, thus £26.67 will be your net profit.
  • If Niven loses, you get £26.67 in Betfair (you lay £28.07 and deducting 5% Betfait commission is your profit in Betfair) and lose £30 of your own stake that will be 100% refunded by Dafabet.

After confirming the lay amount and profit, all you need to do is just placing the qualifying bet at Dafabet & Betfair quickly before the odds change.

I’ll not show the placing bet process here. It is a pretty standard practice. Go Starting Guide: New Customer Offer (2): Qualifying Process Spoon-Fed Instruction, if you want to ensure everything.


Just cautionary comment. I always emphasize on reading T&C carefully. The above Dafabet sets 1.5 minimum odds. This minimum odds requirement is set in almost all offer. Therefore you may not overlook it. However sometimes it also restricts sports category like Super Lenny; risk free bet offers, super lenny bookmaker It says Excluding Horse and Harness Racing. It is a bit unusual for new player offer, thus you may possibly overlook it. Therefore it’s quite important to check T&C thoroughly every time you start new offer;

risk free bet offers, t and c
Click To Enlarge


Odds Matcing Software

The odds matching software I have been showing here is the bonus bagging free odds matcher, which is Free. It is provided by Mike Cruickshank who run Profit Maximiser, the paid matched betting package service. See my full review of Profit Maximiser – The Engineer Of Matched Betting Success, Is It Still Good? if you’re interested.

If you want to make extra money seriously from matched betting (say over £1,000 every month on the side), you may want to consider Matched Betting Premium Subscription Services. The top 3 in the industry are Profit Accumulator, Oddsmonkey & Profit Maximiser (as mentioned above). One of the benefits to use them is 0% Betting Exchange Commission thanks to their partnership with SMarkets, Matchbook & Betdaq. Only with this, you can cover years of their subscription fee. When it comes to which service you should take, check our Comparison of these 3 services & software, which will help you decide the best fitted one to you.

Application To Non Welcome Offer

As said, this Risk Free Bet is not only for welcome bonus but often used as Reload Bonus. Means for existing customers. You can apply it to any promotion where a bookmaker offers something back if your bet loses. A few examples are; in Cheltenham Festivals, Skybet offers Risk Free Bet everyday;Risk Free Bet Sky Cheltenham 188bet gives 10% of loss where you can also use this approach to guarantee profit;Risk Free bet 188Bet Cheltenham Coral offers Money Back in the World Snooker Championship. If your first settled bet of the day is a loser, you get refund up to £/€10. It is available every day for 2 Weeks, juicy isn’t it?;Coral Risk Free Bet Sign Up World Snooker Bet365 In-Play offer is one of the most lucrative promotion in this type (they refund in CASH rather than Free bet which gives you around 25% more value), T&C of Bet365 Risk Free Bet In-Play Offer;Bet365 Football Inplay Risk Free Bet Offer T&C For this particular Bet365 promotion, check the full instruction in 3 Proven Methods To Lock-In Massive Profit From Bet365 Offers or Step by Step Instruction To Secure Bet365 In-Play Offer Guaranteed Profit + Real Results , where you can see the example of Bayern Munich vs Arsenal match (I use 2 methods of standard Matched Betting & Dutching). There are plenty of not only Risk Free Bet Sign Up but also simple Lose Bet refund opportunities. You might have overlooked or ignored them just because not knowing the simple underlaying tactics.

Horse Racing – Seek Value

BTW, I used football example in this document. But as shown Skybet Cheltenham offer, Risk Free Bet is very common in Horse Betting. Actually, Horse Racing Refund makes an important role in matched betting. I strongly suggest you take a look at 10 Horse Racing Refund Offers – Value Based Best Selection & Tactics To Win, where we show how to gauge the value, prioritize & select the popular offers together with the specific tactics to extract cash from them.

Ready For Gubbing

Finally, if you keep taking too much value from the bookmakers, you may most likely to be gubbed, means your betting account will be restricted. Actually, it’s just a matter of time before most of the soft bookies limit your account if you do matched betting without any precautionary actions. So, we have prepared the following 2 guides – One is Before Resriction, The Other One is After Restriction;

We believe the above 2 guides will help you keep exploiting unfair bookies, means will enable you to make money on the side reliably for long-term.  

However, if you keep taking too much values from soft bookies, it’s just a matter of time until you face the account restriction. So, you may want to consider moving up to the next sports trading level of value betting while exploiting the bookies free bet via matched betting. The followings are proven methods which can be used by basically anyone in the world;
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