Frequently Asked Questions.
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Why would the bookmakers not stop this from happening if it means people are exploiting their free bets?
So bookmakers make the calculated decision that it is best to keep offering free bet Welcome Offers so they continue to attract the gambling customers (known as mug punters), even though they will attract matched bettors at the same time.
For example, for every 1 matched bettor, there are probably 10 gambling customers, so it is worth running welcome offers.
After you complete the welcome offer, the bookmakers continue to run free bets. If you only ever bet with the bookmaker when they are running a free bet promotion, sooner or later the bookmaker will send you an email informing you that you will no longer be eligible for free bet promotions (this is known as being ‘gubbed’). You can still bet and deposit/withdraw, just you can’t get free bets anyone.
This is why, if you decide to continue matched betting after completing the welcome offers, all matched bettors are advised to do some mug betting.
However, if you have to pay out this liability, you will win an equal amount in the bookmaker from your bookmaker trigger bet winning.
This is the reason we use the Calculator, because it gives us the exact amout for our lay bet to ensure regardless of the outcome, the win/loss from our bookmaker trigger bet will equal the corresponding win/loss from the betting exchange.
So for example, if we placed a £10 trigger bet on Man Utd to win at 2.5 odds and lay odds of 2.5 also. We will place an equal £10 lay bet (or very close to £10 depending on the Calculator). This lay bet will have a £15 liability as shown in the Calculator and in the betting exchange when we enter our £10 lay bet stake.
If Man Utd win, we win £15 profit from the bookmaker bet, however we will lose £15 in the betting exchange (our liability).
If Man Utd do not win, we lose our £10 trigger bet from the bookmaker bet, however we win £10 in the betting exchange (our lay stake).
So regardless of the outcome of the match, we neither win nor lose, hence this is risk free. However, we still trigger the free bet!
For example, on the bookmaker you are betting on Chelsea to win, but on the exchange you are betting against Chelsea to win via your lay bet.
Therefore, if Chelsea lose or draw, you win your exchange bet, but lose your bookmaker bet.
The reason it is not £600+ is because with the earlier Bet £X Get £Y offers you choose lower odds. This reduces your profit by around £80.
Additionally, you only take up around £50 of the Bet365 bonus, rather than the full £200 bonus, which reduces your total profit by around £110.
Note by taking this approach, you would do one Welcome Offer at a time before moving on to the next Welcome Offer.
I recommend storing a copy on your computer and then you can easily send these documents to any bookmaker that requests it. Once you have completed the Welcome Offers, then delete the files (or keep them in a password protected folder).
However, the 5 'multi bet' welcome offers require more than one bet to be placed before making a withdrawal. We're still able to make guaranteed profit from these offers and every step is explained in our guides.
In total, you will have 25 bookmaker accounts and at least 1 exchange account.
Using a Betting Exchange
Betfair make money by charging a commission on any winnings you make via the exchange and they never have any money at risk, because you're betting against other people on the exchange, rather than betting against Betfair.
That's why we look for odds as close to each other on the back and lay bets. Because on the back bet you're betting against the bookmaker and the lay bet you're in effect, the bookmaker yourself. So they cancel each other out and no money is won or lost if the odds are the same.