Make the Most Money our of your Free Bet
This may seem a little daunting at first, but given a little patience you will be in the know within 30 minutes!
Choosing Odds for a Qualifying Bet
Remember that the Qualifying Bet is the FIRST bet that you need to place at the Bookmakers. This is important as the odds we must select for an event are essential to release as much equity as possible from your Free Bet. Remember you won't get your Free Bet UNTIL you have placed your Qualifying Bet. This also applies to your FIRST bet at the Betting Exchange (Betfair).
On your qualifying bet it's easy - Look for the favourites to win at SkyBet. For example, Michael Phelps at the 2008 Olympics was the hot favourite to win his events. We search on SkyBet and Betfair whilst referring to our calculator page (always have 3 browser windows open). Find an even like 200M Butterfly. In this particular case Phelphs' Back odds at SkyBet were 1.01. Now in Betfair for the same event Phelps had Lay odds of 1.03. Note how close these numbers are together?
Sometimes you will find matching odds like 1.01 for the Back odds and 1.01 for the Lay odds - This is fantastic and you should take advantage immediately for your qualifying bet.
These numbers are low and easy to find - it's more frequent you will find low odds that are closer together.
Lets put these numbers into our calculator below:
Ok enter 50 to your Back Stake as this is what you are staking.
Next make sure the Stake Forfeit is 0 (always zero on a qualifying bet)
Enter the Back Odds of 1.01
Enter the Lay Odds of 1.03
Back commission is 0
Enter a Lay Commission of 5 (Betfair charge 5%)
Now hit the CALCULATE button
Ok take note of the Back Profit and Lay Profit figures - they are £48.95. This means that wether Phelps wins OR loses you will be returned £48.95 from your £50 deposited funds.
When the event is over you have lost a pound or two BUT you now have a £50 free bet available!!
Have a play with this calculator and search for some odds that are low and close together (or odds that perfectly match however high they may be)
Keep an eye on theBack Profit and Lay Profit boxes every time you hit the calculate button to see how much of your own money the free bet will cost you..
Very soon you will find it easy and will be squeezing every penny to get your Free Bet at the Bookmakers!
Choosing Odds for a Free Bet
This is very similar to above but there are a few differences. In the calculator your Stake Forfeit box MUST have the same amount of money as the Back Stake. If this is your first free bet at SkyBet then both figures will be £50.
The next difference is the odds you will be looking for. You need to be looking at Back odds around 6 or 7. An easy example of this is to look at football fixtures. Choose a Saturday in the premiership for example and choose a team. Click on the extra or additional bets link and you will have an option to choose a Correct Score bet.
Within 4 minutes we found Bolton v Stoke at SkyBet with Back odds of 7.0 for a score of 1-0 to Bolton. We looked at the same fixture and scoreline at betfair and it was 7.4. Just make sure Back Stake and Stake Forfeit are both 50 in your calculator and change the odds to Back = 7.0 and lay = 7.4.
You will see immediately you would have a Back or Lay Profit (whover won) of £38.78
If you chose these odds with your free bet and placed it this is how much you would win. This is YOUR Free Easy Money that you can immediately withdraw (as well as the money you already deposited less a few pounds!)
We actually spent another few minutes searching and found a Liverpool vs Sunderland game with a correct score of 1-0 to Liverpool at Back odds of 7 and Lay odds of 7. A perfect Match! Check these figures in the calculator and you will see our profit from our free bet was £41.01
If ever you see a Back odd number that is slightly MORE than a Lay odd number for the same event you are in luck! Snap this up quickly and place the bet as you will find you are returned nearly ALL of the Free Bet Money!
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