Trading for £50 Free Bets
This is a simple shrewd betting technique that exploits a generous offer from Bet365 .
I suspect it's use was one of the reasons they effectively barred my account with them.
Bet365 run an offer they term their Itv Racing 4 4/1 offer.
"Back any single winner at 4/1 or more on any race televised live on ITV Racing and you can have a risk free bet to the same stake (up to £50*) on the next race broadcast live on ITV Racing. This offer applies to the FIRST single bet placed by a customer on each race shown live on ITV Racing. "
As a general rule you will find qualifying races each Saturday on Itv. Bet365 also list them on their site.
If you are going to bet in these races, it makes sense to do it at 365 as long as you are targeting horses above 4/1.
Over the course of a season you should pick up quite a few £50 free bets.
However being the shrewdie that I am, I wanted to take advantage of these offers, pocket the free bets, but not risk my betting bank doing so.
This is possible!
What you will need as well as your account at Bet 365 is an exchange account such as Betfair.
The principle is fairly simple.
Every time the horse wins however you get a free £50 bet from Bet365 .
Some Finer Detail.
If you have your head screwed on one of the first points you should query about the above concept is
What about having to lay at higher odds on Betfair than I bet at on the bookies?
Surely that will put my bank at risk?
Yes. You are correct.
You must keep an eye on Betfair prices and watch for suitable opportunities to trade.
The best time to run this is during the live shows.
Very often Betfair markets indicate an upcoming shift in bookmaker live show odds.
Don't go into this approach with a certain horse in mind, go into with the view that you will trade which ever horse the opportunity arises on.
You are looking for a live show horse at over 4/1 which is starting to trade on Betfair at or even slightly dipping below that price.
Watch for this and very often you will be able to trade back at lower than the Bet365 live show price.
A fast connection and quick fingers are required.
An example of a successful trade.
Red Rum is noted at 12/1 during the live shows. It is also noted that it is trading at this same price on Betfair and even dipping slightly below the 12/1 show price.
£50 is staked at 12/1 during the live shows on Bet365 .
A minute later the odds come in on the shows to 10/1
At this point you lay the bet back on Betfair taking a stake of £53 at 11/1.
You now have the following two possible outcomes.
1. Red Rum loses.
In this instance you lose your £50 stake to Bet 365.
You however gain £53 pounds from Betfair which after an assumed 5% commission puts in your pocket £50.35
Net result, you are up by 35 pence.
Now what happens if the horse wins?
From Bet365 you win £50 * 12 = £600
You have to pay out on Betfair however.
There you pay the other punter £53*11 = £583
ie you have a net win of £17.
The beauty however is that you also have a free £50 bet in the next race.
Over the course of a season how much could you be ahead betting with Free £50 bets?