Last week I went through all the free bets that bookies give away during festivals and I hope some of you managed to bag a few for yourselves. This week then I thought I’d run through turning a profit from opening new accounts. There are so many bookies out there now there’s always at least one new account that can be opened and it’s the sign up offers that we look to make a guaranteed profit from.
First thing to note when opening a new account is that we need to make sure that we fully understand the sign up bonuses conditions. I would avoid bookmakers that make you turn over your free bet 50 times as there is no value in this. There are however plenty of bookies that simply give you a free bet and if you profit from it it’s yours to keep.
So let’s look at an example.
Totesport offer you a free £25.0o bet upon signing up and this can be redeemed here – £25.00 Free Bet
So we can turn this into free cash to the value of around £17 – £20 dependent on odds.
Upon signing up to Totesport you would then deposit £25 and place a bet as per the example below:
Back the draw between Wimbledon v Burton Albion kicking off tonight at 19:45. The current odds are 5/2 (3.50).
You would then head over to Betfair and place a lay stake of £25.74p at odds of 3.45. By placing this lay bet we are putting ourselves into a small loss but will make a profit on the next trade once we receive the free bet.
So what happens to our money.
Should the game end in a draw we would make a profit of £62.50 with Totesport but lose £63.06p in our Betfair account. This would give us a loss of £0.56p.
Should either team win the game then we would lose the £25 with Totesport but return a profit of £24.45p in our Betfair account. This would equate to a loss of £0.55p.
That is the first part of the trade complete. We would then need to wait up to 48 hours for our free bet to be credited.
Once you’ve got the free bet then you could trade this out on Napoli v Ac Sparta Praha kicking off on Thursday at 20:05.
You back the draw with your free bet of £25 at odds of 7/2 (4.50).
You then head over to Betfair and place a lay stake of £19.23p on the draw. This has now locked in your free cash.
So what happens.
If the game ends in a draw you return a profit of £87.50p in your Totesport account which you can now either use or withdraw but you lose £69.23p in your Betfair account. This would result in a profit of £18.27p. Take the £0.56p you lost on the first part of the trade away and you’ve just bagged yourself an easy £17.71p profit.
If either team win then you lose the £25 in your Totesport account (which was a free bet so you’ve not really lost it!) but return £18.27p in your Betfair account. Take away the loss in the first part of the trade and you’ve another £17 odd quid profit.
So you can see that by using clever staking it’s easy to get your hands on loads of free and easy cash.
The only tricky thing about this is working out your staking on each outcome. It’s worth noting that my Bet500 system comes with the calculators that you need to work out these stakes and you can grab that here – Bet500 System and Staking Calculators
That’s it for me this week and I’ll be back next week with more ideas and methods that you can use to really make your betting pay.