Author Topic: I want to win with a free bet!  (Read 3222 times)

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I want to win with a free bet!
« on: 14 Oct 2015, 08:37 »
Hi all,

I have a free £50 bet with a bookmaker but the stake isn’t included in the winnings and I wondered if anyone had a better idea than mine to get that £50 into my Betfair account?

Before I’ve done this with a £20 free bet (stake not included in winnings):

With the bookmaker placed a back bet of £20 on a horse @ 3.75 (£20*3.75)-£20=£55 potential return
Layed the same horse on Betfair (£20+£2)/0.95=£23.16 @ 3.75 (so it was matched straight away) and then backed it with £2 @ 34 (hoping it will lose and get matched in-play)

That meant if the horse won I win the £55 with my free bet and £23.16*(3.75-1)= -£63.69 + (£2*(34-1)= £2.31 -commission. That did happen and I was happy but it was a bit risky.

If the horse won and the £2 @ 34 wasn’t matched I would have lost £8.69 – is there a better way for me do this?

The free bet is because I lost a bet and it got refunded which is why I don’t really want to lose any more money.

Hedging doesn’t work either because the stake isn’t included in the winnings. Any help would be grateful!

Thanks,

Whitey :)
Yeah! :p

 

Please note, BetFair is seems to be currently OFFLINE