[AlexInWonderland]

Okay guys, I'm a tad confused with a new problem

Some bookies whose offers I am looking into (I'm still new at this!) are that your first bet is risk free. ie, in order to access the free bet, I have to loose at the bookies to qualify.

Does this mean that to make a profit from these deals I need to try my best to loose at the bookie, and if this doesn't happen there is no way to profit from the deal?

In order to do this, I would obviously have to back something with quite long odds. This poses a slight problem for me as I don't have a very large float. Perhaps it would be worth putting more money in to do these offers, but it would have to be withdrawn from my float after as I'm short of money right now and can't really afford to have any more tied up in this.

Any help is appreciated

[A-K-J]

(Original post by AlexInWonderland)
Okay guys, I'm a tad confused with a new problem

Some bookies whose offers I am looking into (I'm still new at this!) are that your first bet is risk free. ie, in order to access the free bet, I have to loose at the bookies to qualify.

Does this mean that to make a profit from these deals I need to try my best to loose at the bookie, and if this doesn't happen there is no way to profit from the deal?

In order to do this, I would obviously have to back something with quite long odds. This poses a slight problem for me as I don't have a very large float. Perhaps it would be worth putting more money in to do these offers, but it would have to be withdrawn from my float after as I'm short of money right now and can't really afford to have any more tied up in this.

Any help is appreciated

I been doing this a while and i still find those offers confusing.

What i think your supposed to do is back something with long odds and also underlay? so if the bet was to win at the bookie you would still make a profit.

Someone can correct me if i'm wrong :P

[bkeevin]

(Original post by simplemind)
But if I'm trying to lose at the bookie and accidentally win, can't I just back another bet with high odds instead of trying to fulfil the requirement?

No because you may still win again at the bookie finding your self with thousands at the bookies side and so you would still have to fulfill the wager requirement. You would also require a very big float in your betfair account if you wanted to bust out on a few hundred pounds lay bet. More importantly the bookies don't like winners and will limit/close your account quickly if you win big successfully.

[EmperorMustard]

Right, I'm new to this. Just put down my first qualifying and free bets. I've probably not gone for the most efficient odds or anything but I'm just getting to grips with it at first really.

Joined Coral, get a £20 SNR free bet if I spend £20. Also joined Betfair.

Put £20 on Olimpija to beat Tromso at 2.38 at Coral, and then layed this at Betfair at 2.54 with a stake of £19.11 and liability of £29.43. According to calculations this will put me at -£1.84 after the qualifying bet.

I've then put my £20 free bet on the Osijek vs Kalmar match to be a draw and Coral at 3.20. I then have £12.94 on the match to not be a draw at Betfair at odds of 3.45 with a liability of £31.70.

After that I should make £12.29 - the money lost on the qualifying bet according to calculations. Let me know what I can improve on please! Oh, and also if I've made any messy mistakes before I lose bare dolla

[fishpond]

That looks fine and you got the theory OK. I would have just layed £19 though I dont see the point pissing about with a few pence here and there it all comes out in the wash. You would have made more profit if you bet on something at longer odds or closer together odds. Overall though what you have there is fine and a risk free profit. I found the best site to get the idea as a beginner was TheGoldTiger.com for the video tutorial if you are unsure watch them but what you put there looks OK. I am not a Pro yet but £1k profit is not far off and I can assure you once you do a few it becomes like taking candy from a baby.

[DeffoBets]

(Original post by EmperorMustard)
Right, I'm new to this. Just put down my first qualifying and free bets. I've probably not gone for the most efficient odds or anything but I'm just getting to grips with it at first really.

Joined Coral, get a £20 SNR free bet if I spend £20. Also joined Betfair.

Put £20 on Olimpija to beat Tromso at 2.38 at Coral, and then layed this at Betfair at 2.54 with a stake of £19.11 and liability of £29.43. According to calculations this will put me at -£1.84 after the qualifying bet.

I've then put my £20 free bet on the Osijek vs Kalmar match to be a draw and Coral at 3.20. I then have £12.94 on the match to not be a draw at Betfair at odds of 3.45 with a liability of £31.70.

After that I should make £12.29 - the money lost on the qualifying bet according to calculations. Let me know what I can improve on please! Oh, and also if I've made any messy mistakes before I lose bare dolla

A £12.94 return isn't very good from a £20 free bet in my opinion. Aim for 75% plus return and bide your time until a decent betting opportunity comes up.

Fishpond is right - longer odds tend to provide better opportunity. The key is the closeness of the odds usually as well (take the back odds and divide by the lay odds to work out closeness).

[redmel1621]

Just wondering, if I had 100 quid, how long would it take me to double it and then be able to withdraw my initial 100?

Could it be done within 2wks?

This was posted from The Student Room's Android App on my GT-I9100

[fishpond]

If you had £1000 you could make £100 in an hour. It is only 10% increase. To make money from this it is all percentages. So if you only have £100 and want to make £100 more that is a 100% increase so actually a big ask. You can do it in two weeks though yes if you research the best ways to sign up to places like Betfair can be worth £80 odd on its own if you go to the MSE thread there is details

You could also get lucky on the WillHill risk free Casino taster sessions I have won £65 from one of those this week. I got to £35 today on the Live Roulette but got greedy and carried on to lose it but if I had have collected those two alone would have been £100. Thats not even counting the Freebet when you join.

The shorter answer would have been "yes"

[redmel1621]

Thank you. I have been over on mse today reading the WH risk free casino offers lol. They sound pretty tempting :-)

I have been offered £100 but they need it back in 2wks lol, so I haven't accepted it as yet. I wanted to make sure I could get it back to them while still leaving myself a float lol.

This was posted from The Student Room's Android App on my GT-P1000

[fishpond]

Better idea, they use the £100 to make £100 profit. In two weeks time give the profit to you to do the same. I would never borrow money to gamble with, mistakes do happen and bookmakers can go bust...

[Tobedotty]

(Original post by redmel1621)
Just wondering, if I had 100 quid, how long would it take me to double it and then be able to withdraw my initial 100?

Could it be done within 2wks?

This was posted from The Student Room's Android App on my GT-I9100

You can do it in a day if you know what you're doing. In all seriousness though, you don't have enough cash to get decent returns from this, you would be able to do all the offers and make like £100, but lets suppose you did the same offers with £300 say, you'd probably make more like £200.

[PrinceUpsb]

(Original post by fishpond)
If you had £1000 you could make £100 in an hour. It is only 10% increase.

Can you? An hour? How

[Patchey1000]

(Original post by PrinceUpsb)
Can you? An hour? How

On a day like today when there was a horse race ever half an hour you could easily do a few Sign up offers get your free bets then use them on the next race

[fishpond]

(Original post by PrinceUpsb)
Can you? An hour? How

Join a few sites, bet on A happening at one and A not happening at the other. One of your bets will have to win. Do it again with the freebet money. One of your bets will have to win. Result... Profit.

Just make sure you get the best offers going at the moment there is quite a few £50s floating about you wont do it if you get swindled into taking £10s, and also with cashbacks you can double your rate. Make sure you know what you are worth and entitled to.

[simplemind]

Has anyone done the Paddypower £250 offer? It requires a ****ton of qualifying bets that amount to wagering £1000. Dunno if it's worth it. Doubt I have the money to pull it off anyway.

[JakeeDx]

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[bkeevin]

(Original post by simplemind)
Has anyone done the Paddypower £250 offer? It requires a ****ton of qualifying bets that amount to wagering £1000. Dunno if it's worth it. Doubt I have the money to pull it off anyway.

It is one of the best offers around. They only ever give a bigger offer during Cheltenham and there is less risk of getting limited compared to the Chetenham one. It is only about 20-25 bets to do, so it is easy to do using football and horses. Remember your qualifier odds can be as low as 1.5 per £50 bet so you can do the offer with a £400-500 float since they are very quick to pay out if you need to redeposit at Betfair. One thing though, it is not adviseable to arb while doing this kind of offer.

[Straight up G]

Hoping someone will help me out here.

Why do we need to use a betting exchange like Betfair? Is it because most bookmakers don't let you lay bets?

Will signing upto bookmakers affect my credit history, social services records, anything like that?

With £450, where do you suggest I start? What kind of odds, and what kind of offers should I be looking at?

How do I transfer the cash to betfair from my bookmaker, as has been suggested?

[bkeevin]

(Original post by Straight up G)
Hoping someone will help me out here.

Why do we need to use a betting exchange like Betfair? Is it because most bookmakers don't let you lay bets?

Will signing upto bookmakers affect my credit history, social services records, anything like that?

With £450, where do you suggest I start? What kind of odds, and what kind of offers should I be looking at?

How do I transfer the cash to betfair from my bookmaker, as has been suggested?

Yes bookies will only let you back a selection. You can only lay at exchanges like Betfair, betdaq, smarkets.

Signing to bookies will not affect your credit rating. However some banks look at it suspeciously so it is usually better to open a second account and use ewallets like skrill for convenience. No idea about social services.

You only transfer money from the bookie to betfair when you win at the bookies (ie lose at betfair). So you will withdraw to you bank account/skrill then make a deposit a fresh deposit back to betfair.

You can always start with totesport(£10), bluesquare (£25)skybet(£60), betvictor(£100), paddy(£250) etc by registering through the affiliate olbg.com

[Tobedotty]

(Original post by simplemind)
Has anyone done the Paddypower £250 offer? It requires a ****ton of qualifying bets that amount to wagering £1000. Dunno if it's worth it. Doubt I have the money to pull it off anyway.

Not sure its worth it, you'd need to put a lot of work in and look for arbs or near-arbs to minimse losses on the wagering. If you just picked things at random you'd lose about £100 through the wagering before getting the free bet. Then you'll make about £180-£200 on the free bet for a profit of about £100.