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

Risk Free Bet Lose Bet Refund
Estimated Reading Time: 9 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 6 Advantage Plays6 Advantage Play Feature Image 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, and we strongly support GambleAwaregambleaware 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 offer

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.

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 – 9 Essential Things You Should Know Before Staking Any Real MoneyMatched 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) 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;

Bet Exchange Sign-Up Strategies With Real Example

Betting Exchange

Therefore, 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 – How To Sign-Up & Lock-In Profit Wisely With Best OffersBet Exchange, Sign-Up Strategies Feature Image, where you find the Smart Tactics on How To Use Which Bet Exchange in Which Occasion with spoon-fed like instructions.

We recommend SMarkets as a Core Betting Exchange for matched betting. Not Betfair, Why? Also show how important Matchbook is. Please go to the above document that explains the full rationale & comprehensive strategies to make the best use of all 4 key betting exchanges.

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;

Update & Confirm T&C (Terms & Conditions)

  • Firstly, Go To SMarkets Front Page confirming the availability of £10 Risk Free Sign-Up Promotion

Bet Exchange SMarkets Offer Check

  • 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;
Bet Exchange SMarkets Bonus T&C
Click To Enlarge

Simple Sign-Up By Filling Information

  • After confirming the availability of the offer & reading the T&C,  click “Start Trading”

Bet Exchange SMarkets Signup Front Page

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

Bet Exchange SMarkets Signup Account Page

A Few Key Points

  • For the deposit method, suggest use Visa Debit card if possible. Because depositing by Mastercard or credit card incur a 2.5% deposit fee, bank transfer takes a few days. Importantly, 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.
  • If you are not familiar with how to start matched betting, see how to place qualifying bet.

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.

£2,500 Risk-Free Opportunities

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

How To Earn £2,500 Risk-Free Cashback

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

Underlay

We can lock-in the profit by doing Underlay – see Underlay: The Technique To Maximize Profit under WR for full details;Matched Betting Underlay Technique Underlaying 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; No Risk Matched Betting Starting Guide (1) – Welcome Bonus How It 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

Offer

I’ll show you how to do it by using the example of Dafabet;

risk free bet offers, defabet sign up offer

Dafabet offers £35 Risk Free Bet to new customers.

Process

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 Free Matched Bet Starting Guide (2) – How To Sign-Up & Place Qualifying Bet, if you want to ensure everything.

Note

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

Appendix

Odds Matcing Software

The odds matching software I have been showing here is the bonus bagging free odds matcher. 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;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;Full Instruction on How To Lock-In Profit from Bet365 Offers Or my post of Step by Step Instruction To Secure Bet365 In-Play Offer Guaranteed Profit + Real Results;Bet365 In-Play Offer Guaranteed Profit

 , 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;Horse Racing Refund Offers - How To Chose & Win Based On Value Feature Image , where we show how to gauge the value, prioritize & select the popular offers together with the specific tactics to extract cash from them.

If you have any inquiry or need any help from us, please contact us anytimeGlobal Extra Money Contact (don’t worry, we will not charge you any fee, everything is free here).

Good Luck!!

Joshua Walker

 


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