Matched Betting Free Bet On Lose
It doesn’t matter if you are a sports fan, or just someone looking for an easy buck – being able to make a regular income through gambling is a dream for a lot of people.
Unfortunately, it’s not that easy.
Matched betting is completely legal assuming you’re over 18! It takes advantage of a loophole between betting exchanges and bookmakers, but neither of them loses because not backing or laying elsewhere has no influence on their result from your matched bet. Matched betting. Your losing the lay bet side, but the match is still playing. If the other team pulls 2 goals back and the game finishes in a draw or maybe the other team wins, you win the lay bet. This is very profitable as. The Bookies guarantee they will lay the advertised price (even on stake limited and bonus banned accounts). Previously, some bookies had a minimum bet guarantee of £100. Now, you are more likely to see £500 being advertised. The lay to lose guarantee is seen as making the betting.
Only a small percentage of sports bettors can consistently beat the market and make a profit.
Casino games are even worse, the odds are always stacked against you.
For most people, gambling is just an expensive hobby.
There is a way that you can change that though. It is possible to flip the odds in your favour and guarantee that you always come out ahead.
Matched Betting
Since Betfair launched in the UK in 2000, people have been using it to exploit bookmaker signup offers. This is known as matched betting.
Here’s a really simple explanation of how it works:
If i sign up to Tab they will give me a $100 bonus bet. I can use that bonus to back Australia against New Zealand at odds of $2.00.
I then go to Betfair and place a lay bet on Australia, also at $2.00. A lay bet is a bet that something won’t happen. It’s the kind of bet that a bookie makes when they take our money.
By placing a back bet and a lay bet, it’s like i am both the punter and the bookie. The two bets will cancel each other out, but the key is that I only used my own money for one of them. The other was the bonus bet.
If Australia win i will lose my $100 at Betfair, but i will get paid out $200 at Tab = $100 profit.
If they don’t win i will get $100 profit at Betfair. I’ll lose the bonus bet at Tab, but that didn’t cost me anything anyway = $100 profit.
By betting both sides you can turn the bonus bet into guaranteed cash. It really is a bet that you can’t lose.
Is it really that easy??
Almost. That was a simplified example to explain the basics.
In reality, matched betting is a little trickier – but that is where bonusbank comes in.
Using more than 15 years of combined matched betting experience, we have developed tutorials, calculators and software that make it easy for anyone in Australia to make money from matched betting.
And it’s not just the signup bonuses. You can also make a regular income from the weekly cash back or bonus bet promos that bookies offer.
How much can you make?
On average, it is possible to make around $70 profit from every $100 bonus bet.
If you check out this list you will see that there are currently over $4000 worth of signup bonuses available. That means that you could make a profit of $2800+ from the signups alone.
To get an idea of how much our members actually make, we send them all a survey two months after they join. You can read more about it here, but the headlines are that 80% of members make at least $1000 in their first 60 days. Almost 20% make an amazing $5000+.
How to start matched betting in Australia
Getting started is easy. You can sign up for a free bonusbank account today and start reading through the beginner tutorials. The free account also includes access to a Lite version of our oddsmatcher software, plus a basic matched betting calculator.
Using these tools, you can complete your first signup bonus and see for yourself that matched betting really is the best way to make money online in Australia.
When choosing a bookmaker, incentives are especially appealing – but how do free bets work? Unfortunately, a read through these bookmakers’ terms and conditions show that it’s not just free money. Read this article to learn how free bets work & their drawbacks.
Continuing on from our previous article – Why Free Bets come at a Cost – where we discussed free bet terms and conditions, this time we’ve actually investigated free bets from various bookmakers to learn exactly how they work – including their drawbacks.
One bookmaker – we’ll call them Regret Victor – has a £25 Free Bet offer for new accounts. Upon closer inspection of the offer, it is then revealed in the T’s & C’s that you have to place a bet with your own cash that must contain at least one selection with odds of at least 2.00, unless it is a four-fold or greater. They will then match this bet with ‘promo cash’ up to £25.
Essentially, the bookmaker is telling you what to bet on with your own money before it will give you anything. And at 2.00 or greater, it’s a punt with a chance of winning under 50%.
Drawbacks:
- Free Bets usually require you to match the bookmaker’s investment with your own
- Bookmakers steer you into less profitable or losing markets
- To make a withdrawal you need to make ever more bets
Having fulfilled that condition, you are only able to withdraw any winnings from the promo cash once you have staked at least four times the value of your initial bonus amount and these bets are fully settled.
So even with the £25 in promo cash you would need to place a further bet of up to at least £100 of your own money before you could make any withdrawals.
Can You Lose On Matched Betting
More Money, More Conditions
Some bookmakers – like one we’ll call Daddy Power – try to lure customers by enticing them with a huge free bet – Power offer up to £250.
This isn’t however a gratis gift; to get the money you would need to place a bet of £50 to have it matched by the bookies, and then place another four bets of £50 to receive a second free bet of £50. After another five bets of £50, they then get another free £50, while a further ten £50 bets are needed to reach £250.
Essentially, the bookmaker is telling you what to bet on with your own money before it will give you anything.
The whole scheme requires a punter to bet £1,000 of their own money in order to get £250 worth of free bets. Oh, and all bets must have minimum odds of 1.50. Now is that what you would expect from a £250 free bet?
Another bookmaker – we’ll call them Bet 123 – has a different take on its high-value free bet. It offers a bet of up to £200, provided it is matched by the same deposited amount, and played on events with minimum odds of 1.50.
You then need to successfully rollover (rebet) your total deposit and bonus value three times before you can withdraw anything. This means that if you did deposit £200, you would have to wager £1,200 {£200 Deposit*3 + £200 Bonus*3} before being able to withdraw anything. Additional conditions require that you do not place bets on Asian Handicap, Goal Line and Baseball money line markets.
Risk Free Bet
Another slightly different approach to incentives, but equally deceptive, is the risk-free bet. You qualify for the free bet only if you lose your first bet (up to a certain amount), which essentially gives you your money back. However it is not as straightforward as it appears. This so called risk-free bet requires you to risk your own money first, and you have to bet more than the risk-free bet to be able to withdraw.
A bookmaker –we’ll call them DoBog – offers a £10 risk-free bet, although a £10 bet (from your own money) must first be placed on a bet with odds of at least 2.00 before you receive the £10 bonus. The bonus amount then needs to be rolled-over up to three times at odds of 2.00 or greater prior to any withdrawals.
Conclusion: Don’t Waste Time & Money
Can You Lose Money On Matched Betting
These so called incentives are a waste of both time and money. You have to spend time learning the exact terms and conditions if you want to see your cash again, while the poor value odds these bookmakers offer (having enticed bettors in with promo offers) end up costing bettors in the long run.
Matched Betting Sites
It’s far better to use a low-margin bookmaker like Pinnacle, which offers much better odds than incentive-offering bookies.