Welcome to the new series of articles for WIN appearing every Tuesday and giving you advice and examples of how to lock in more profit using trading techniques and matched betting.
So a quick introduction to who I am and what qualifies me to help you. I’m Eddie Lloyd and I’ve been a professional punter for five years now. In that five years I have worked in the head office of one of the biggest bookmakers in the country and behind the scenes learned a lot about how they think. I’ve managed betting shops and learned how the punter thinks. Once I got what I needed I left the bookie industry and armed with all the facts set up by myself and now work alongside Betfan, WIN and BetKudos. I’ve finally arrived at what it is I always wanted to do and spend all day trading, betting and looking for anyway I can to turn a profit from my punting.
There’s nothing better than sharing that knowledge with other people and that’s where these new articles will come in!
So today I thought I’d run through the concept of a free bet. Not the one the bookies give you but the one that you can secure by laying off on Betfair, preferably having placed a bet with them first. Some of you will know all of this but it’s a good place to start and hopefully will bring everyone up to speed before I progress onto the harder stuff.
So the method of securing a free bet is as simple as it is effective. We simply back a horse to win and then when the price shortens up we lay it. Let’s use an example.
We back a horse at 10/1 with a £10 bet. This would mean that we would make a £100 profit plus our stake back should the horse go onto win. An hour or so later the horse in question has been gambled on and is now showing at 5/1. We simply now lay the horse at the shorter price with the same stake. Our liability at 5/1 for a £10 stake would be £50. So the horse goes onto win and we collect our £100 from the back bet but have to pay out £50 for the lay bet meaning our profit will be £50 (minus commission). If the horse loses then we have lost our £10 back bet but we keep the £10 from the lay bet meaning we have lost nothing.
The method is very simple but of course the trickiest bit is knowing when a horse is likely to shorten in price. There are many ways of finding such horses which I won’t go into now and later on in these articles as we get onto other methods I’ll talk about trading platforms/ bots etc that can help us look for trends when trading.
That’s it for me this week but I feel I have set the scene on what we’ll be covering and introduced myself. I will be back next week with a method that will help us find those horses that shorten in the market so that we can use the above method and the maths involved in helping us secure a profit no matter what the outcome of the race.
As always please feel free to leave a comment with any questions you may have and I’ll come back to you as soon as I can.
Have a great week and good luck with your punting.