Matched Betting - Real Example |
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I have signed up to a Bookie who is offering a £10 Stake Returned Free (SR) bet provided I stake £10 of my own money first. I’ll show you how the Qualifying Bet was done and then how the SR Free Bet was done. Finally I’ll show you how to do the Free Bet if it was Stake Not Returned |
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Step 1 |
For the qualifying bet you look for an event where the BACK and LAY odds are both close and low e.g. BACK odds at 2.0 and LAY odds at 2.1. If you can find LAY odds which are lower than the BACK odds this is good. Always try to find LAY odds lower than the BACK odds because this will lose you less money in the qualifying bet (maybe even win some money) – but remember we’re only talking losing pennies here so don’t get too hung up on it. I'm doing a qualifying bet of £10 and I've found a Swiss Super league football match between AC Bellinzona and FC Luzern which I am going to use for my Matched Bet qualifier. The market is the 90 mins Home-Draw-Away (or 1X2). The Bookie I am using is
Totesport and I’m using the Betfair exchange. (N.B. LAY odds which are smaller than BACK odds is a good thing) Here are the relevant parts of the screen shots. From the Totesport site:
From Betfair:
Having found my event I now use the Matcher program to work out the numbers for me. When I put the Stake (£10), BACK odds (3.2) and LAY odds (3.15) into Matcher and click the Calculate button here's what it tells me. Matcher tells me that for the £10 bet at Totesport I must stake £10.32 at Betfair (see the Lay Stake box on the bottom left) and I’ll need £22.19 in my Betfair account to cover the bet (see Lay Risk box on the right-hand-side). It also tells me that I’m sure of getting £9.81 back no matter what the outcome of the match (see the Back Returns and Lay Returns boxes). That’s a loss of 19p - not too bad for the qualifier I think to myself so I decide to use this market for my bets. When the football match finishes I’ve lost 19p but now I have a £10 free bet and here’s what I do.
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Step 2(SR) |
For the free bet when its Stake Returned (SR) you
look for an event where the BACK and LAY odds are both close and low The match I have chosen for my free bet is Juventus V Real Madrid. Here are the relevant screen shots. First is the Totesport odds showing Real Madrid to win at 2.15. The Betfair screen next shows I can LAY Real Madrid at 2.18 and there is £322 available for LAY bets (see the amount under the 2.18 LAY odds). Finally the Matcher calculations show I should place a LAY bet of £10.09 which will guarantee me a profit of £9.59. With my 19p loss on the qualifier this leaves me £9.40 in profit! |
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Step 2(SNR) |
When the free bet is Stake Not Return (SNR) you should look for higher odds in the range 7.0 – 10.0 where the BACK and LAY odds are close together. The bigger the odds the more of the free bet you can extract as cash – but also the more you’ll need in your Betfair account to cover the LAY bet. Always make sure you have sufficient funds in your Betfair account to cover the LAY bet. In the same Juventus v real Madrid match I found odds on the Correct Score market which I'll use. The Real Madrid 2 – 1
score-line was 9.00 to BACK at Totesport and 9.8 to LAY at Betfair – you
should look to get better but it will do for the purposes of our example. Important to note in this case this is SNR so I do not get to keep the £10 free
bet in other words I forfeit the £10 so in the Stake Forfeit box I put £10. This would make a total profit of £7.60 (£7.79 - 19p) from the £10 SNR free bet! Not as good as if it had been a Stake Returned free bet but who could complain. Doing a few small SR bets to start with will help build up a bigger bank balance in Betfair. This will enable you to complete the bigger free bets of £25, £50 etc.
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