Multi Bets Explained
There are two types of Multi Bet offers:
- Very similar to Bet X Get Y offers, only you need to place multiple trigger bets to receive the free bet.
- Bonus offers
The first type is straightforward as it is simply multiple trigger bets, so in this article we focus on the second type, the Bonus offers!
How A Bonus Offer Works
A bonus is a cash amount added to your account, either upon your first deposit or your first bet.
However, you can only withdraw once you have wagered a certain amount, known as the 'wagering requirement'. To complete the wagering requirement, we place multiple trigger bets.
Once you have reached the wagering requirement, you can then withdraw your bonus and your winnings.
If you withdraw before reaching the wagering requirements, you will lose the bonus and any winnings. So never withdraw until you have reached the wagering requirement!
How You Make A Profit
The key is the amount of the £ bonus compared to the £ wagering requirement.
Typically we will lose around 4% of the wagering requirement due to trigger bet losses. So if the wagering requirement is £500, we will lose approximately £20 in trigger bet losses. If the bonus is £50, then great! Once we have completed the wagering, we can then withdraw this £50 and so have made £30 profit. However, if the bonus is only £20, then we would not make any profit.
Bookmaker Bonus Offers
*Profit assumes you will make lose 4% of your trigger bet stake and are completing the full rollover.
It is highly beneficial to join OddsMonkey to complete these offers.
OddsMonkey provide an 'OddsMatcher' tool which means you can instantly find the matches with the closest odds between the bookmaker and the exchange. You can often find trigger bets which will lose you 4% or less of your trigger bet stake using their 'Rating feature' (simply choose teams with a 96% rating or higher).
FAQ: How Much Should I Bet On Each Trigger Bet?
Let's say you have a wagering requirement of £500. Should you place 5 x £100, 20 x £25 bets or a mix of stakes?
There are two factors at play:
1) Liability - The lower your stake, the less liability you need. Therefore, if you have a limited exchange balance, it is better to place lots of smaller trigger bets to grind through the wagering
2) Mug Punter - It's always best to look like a mug punter. Therefore, I would advise varying your stakes. If I find a team with a high rating on the OddsMatcher e.g. 98%, then I will place a larger stake e.g. £50, whereas if I find a team with 96% I may place a smaller one
So overall, I would vary your stakes at an amount you are comfortable with based on your liability (see below).
FAQ: How Much Bonus Should I Take (given my Exchange)?
If your bookmaker bets keep winning, your Exchange balance will keep decreasing. This is because you can't withdraw from the bookmaker to top up your Exchange whilst completing the bonus offer.
To be completely safe, have 80% of the wagering requirement in your Exchange. This means you can always cover the liability even if every single bookmaker bet wins, using back odds of 1.8 (the minimum odds are usually 1.5 to 1.75 as stated in each guide).
Realistically though if you are placing 10+ bets, not every bet will win in the bookmaker, so you can opt of the 70% of the wagering requirement:
If you don't have the Exchange balance, simply take a lower bonus. This is demonstrated in each Welcome Offer guide.
So if you only have £400 in your Exchange and are looking to complete the BetBright offer, just take a £40 bonus by depositing £40.
FAQ: Could I Bet My Whole Bonus On High Odds To Lose It?
This is a common approach I see. Let's say on Mansionbet I have my £100 cash balance and have been given a £50 bonus. I now have £150 in my account. I could bet £150 on a high odds team (and lay on the Exchange) and hope it loses.
If the bookmaker bet loses (likely), this means the bonus has effectively transferred from my bookmaker to the Exchange. As I don't have any wagering requirements in the exchange, I have now made an immediate cash profit!
There are two risks:
1 The bet wins! Ouch, you now have won a lot in the bookmaker and lost a lot in the exchange as the odds were high, whilst only wagering a small amount. So you need to ensure you can cover the remaining wagering.
2 Gubbing! I don't think it would look like a mug punter if you bet your full balance on a high odds team. Therefore, you will be more likely to be gubbed (no longer entitled to future free bets). Having said this, for low bonus offers it would not look too unusual for a recreational punter to bet £40 or £60 on one team, whereas for higher bonus offers betting £150 on one team is a large sum for any recreational punter.
Additionally, I have read matched betters who have had their stake limits heavily restricted (e.g. to £5 per bet) during the wagering for betting very large amounts e.g. their entire cash+bonus balance. This is relatively rare but I wanted to mention this.
Personally I just try to clear the wagering with a variety of smaller stakes. For example, if I have a £100 bonus, I'll place bets varying from £25 to £50 trigger bets on popular leagues. I've never had any issues with this approach and always made a healthy profit!
If you do decide to put your full balance on a team with higher odds, then it is best to underlay (see the underlay guide for details).
This means if your bookmaker bet wins, you don't have any trigger bet loss, whereas if your bookmaker bet loses, you have a higher trigger bet loss than usual but you now have transferred the bonus to the exchange for a very nice profit!
Please note you only underlay for a bet with your full balance, if you are betting with less than your full balance, then just lay as normal.
Final Tip: Always Read The Terms!
It will only take a few minutes but always read the terms, just to make sure there is nothing unexpected. For example, Winner Sports have in term 14 that 50% of the trigger bets must be placing as multiples which sucks!
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