Risk Free Bet Offers (Money Back On Losing Bet) – How To Lock-In Profit Smartly
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!!
- 1. Risk Free Bet Offers Introduction
- 2. What Are Risk Free Bet Offers All About?
- 3. Underlying Method
- 4. Typical Mistake Related With Risk Free Bet Offers
- 5. Risk Free Bet Offers – Lock-in Profit Method
- 6. How Exactly Underlay Works
- 7. Step By Step Process With Real Example
- 8. Appendix
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
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.
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; 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.
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;
£2,500 Risk-Free Opportunities
Don’t sign-up Bookmakers directly, Click + To See Little Known Smart Method;
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;
You click the Info box at the right end, then you will be navigated into the detail calculation screen as below;
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); Dafabet offers £35 Risk Free Bet to new customers.
Firstly, check the process required and off course T&C (Terms & Conditions);
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;
For, odds filter, you may set as;
Then you will see;
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;
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; 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;
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.
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; 188bet gives 10% of loss where you can also use this approach to guarantee profit; 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?; 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; 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;
If you have any inquiry or need any help from us, please contact us anytime (don’t worry, we will not charge you any fee, everything is free here). Good Luck!! Joshua Walker