Betting Exchange Question.

[sneakz]

Hi im new to this site and yet to place my first bet, what will i do for free bets once ive run out of betting exchanges? Will i need to use my own money?

Thanks

[Admin]

Welcome on board
No offence but we suggest everyone reads the tutorial back to front around x5 times to really grasp the concept. We all had to do this trust me.

Bookies are a plenty (60ish)
Exchanges are just 2 (betfair and betdaq)

You always use an exchange to lay bet with so you will never run out, you just keep using the same ones over and over. Betfair is usually best but try Betdaq too and see which you prefer. They also offer free money which they will just credit you with when you have bet enough (you will do this easily so just use them and then forget about this). Treat your favourite exchange like a bank and keep as much money in there as possible. You will need higher funds to take advantage of the better deals and higher odds you may find at each of the different bookies.

Work your way through the bookies from the top down as they are specifically structured this way for the begginer based on ease of use, quality of offer etc. The lower deals actually assist you to build up your funds for the higher offers for later on.

You will find that you get re loads (repeat offers) from the bookies periodically. You will stuggle to do all the bookies and keep up with the reloads as we add new bookies all the time. This will be a regular income don't worry. Enjoy

[sneakz]

hi thanks for the reply, ive read the tutorial and read the getting started step by step guide a few times. Ive placed my 1st bets with betfair and coral. The betfair lay won and i have the winning money in there now and the free £10 bet for coral has been given to me. I dont understand the next step...

Will i need to topup the betfair account with my own money to mach the lay risk on the calculator?

thanks alot!

[Admin]

Well done First step completed. it is especially good that your bookie bet lost and you won the lay at BF as you now don't have to withdraw from the bookie. i hope the cost/loss of your free bet wasn't much more than 50p ish?

Now you have to do the same thing again. The only difference is now your back bet is not your own money!. As this bet is free, Coral wont give you the £10 stake back (stake not returned or SNR), they will just hand over any winnings. For this reason the odds have to be higher. At 6 or 7 and above the bet starts to become profitable - any less and you are throwing your free money away !

SNR means the stake forfeit box comes into play for free bets. You must enter the same amount in here as is the same value as the free bet amount. In this case the back stake is a (free) £10. Stake forfeit is also 10.

You will need to top up your BF account as you have stated to cover the lay risk. No problem - just treat BF as another bank account. Pretty soon you will have enough in there to cover all your bets and none of it will have come from your pocket

Try the monday footie between liverpool v west ham.
West ham to win 13@coral and 14@BF. Yes you will need to deposit a bit but you are going to need it in there in any case


Do this and you are well on your way. Next just move on to another bookie. If you selected coral for your first bet because it's a familiar name, then no need to worry. The list is designed for newbies and best started at the top and work your way down (well until about half way anyway, then just go where the mood takes you

[sneakz]

thanks alot for the reply, im waiting for betfair to unsuspend my account, i needed to prove my age. Once that has done im going place a load more bets.

Ive got one more question

If the bookies win, coral in my case am i able to withdraw all the winnings or will i have to bet again and hope to loose?

thanks

[Admin]

For a straight free match bet (90% of the offers here are just that eg bet £20 to earn a free £20 bet) you will be able to withdraw the winnings from a winning bet at the bookie, but not the free £20 that will also be credited. Any winnings you get at the bookie from a free bet can also be withdrawn in full except the stake isnt returned in most cases (jaxx is the exception - they say they don't, but they do!).

Other free offers are deposit bonuses. eg 100% deposit bounus at Bwin means you deposit £20 and earn a free £20 that just gets credited into your account so no need to do the qualifying bet. Some of these sites have wagering requirements (WR) that can seem onerous eg deposit and bonus must be bet through x3 times etc.Read the reviews under each bookie banner for an idea what the offer is. As always there is no harm in reading the bookie T and C's for safety Canbet is actually one of the bvery best deals out there when you have built up some funds.

[sneakz]

ahh right i understand now, so its better to win at the exchange for more money!?

[InFeRnO]

ahh right i understand now, so its better to win at the exchange for more money!?

This will probably confuse you now but by winning at the bookies you actually earn a few more £££'s, this is because you dont pay the betfair/betdaq exchange commission. But by winning at the bookies you may suffer some withdrawal restrictions, thats why its better to win at betfair/betdaq because they dont have any.

So yes, its better to win at the exchange.

[Admin]

Not quite. The calc takes care of the commission for you (0% at the bookie and between 2-5% at the exchange to ensure your winnings are identical, whatever the outcome. InFeRnO did you forget about this feature on the calc?
It's better to win at the exchange, because you need your funds in there, and of course the bookies are then not out of pocket, which means they can give us loads more free bet offers
Luvverly jubbly

[InFeRnO]

good point bigjas, i remember now that i had forgotten to adjust my calc commission rate from 5% down to 2% and thats where i realised i was going wrong. some how i made more money but this was probably down to the incorrect lay bet values and luck.