Welcome to the free bet strategy guide. Let’s see how to make money from a free bet offer.
How to profit from a free bet offer
Let’s look at an example offer.
Grosvenor sports £25 free bet reload offer
- Bet £25 on Saturday Premier League (odds 1.5+) to get a £25 free bet for Man Utd versus Liverpool.
- Free bet awarded after qualifying bet settles
- Grosvenor free bets are Stake Not Returned (SNR). Any winnings from the free bet do not include your stake. So, use high odds to extract a profit from the free bet.
Place your £25 qualifying bet
Find a suitable qualifying bet at 1/2 (1.5) odds or higher.
Place a £25 bet on Everton to beat West Ham at 2.02 odds with Grosvenor.
Using Beatingbonuses.co.uk matched betting calculator.
To work out your lay stake, enter:
- Bet type: qual
- Bet size: 25.0
- back odds: 2.02
- Lay odds: 2.06
- Lay commission 2%
Then place a £24.75 lay bet on Everton at 2.06 odds on Smarkets. The liability is £26.24. Regardless of the result, you’ve taken £0.75 qualifying loss to qualify for your £25 free bet.
Once your qualifying bet has settled, Grosvenor will credit a £25 free bet to use on Man Utd vs Liverpool.
Place your £25 free bet
Now let’s search for a suitable selection for your £25 free bet. After a quick scan of potential high odds selections, Sadio Mane First Goalscorer is 5.4 to back at Grosvenor.
Click on Sadio Mane in the First Goalscorer market. The selection gets added to your betting slip. Enter £25 stake and select the £25 free bet tick box. Click ‘Place Bet’ to confirm your selection.
Now you need to cover your selection with a matching lay bet at the exchange. The free bet does not return its stake (SNR), so the lay stake needs to be slightly lower than £25.
Using Trickybet matched betting calculator. To work out your lay stake, enter:
- Bet type: SNR
- Bet size: 25.00
- Back odds: 5.40
- Lay odds: 5.80
- Lay commission 2%
Lay £19.03 on Sadio Mane (5.40 lay odds) in the First Goalscorer market at Smarkets. The liability is £91.35.
- If Sadio Mane scores the first goal: You win £110 at Grosvenor, minus £91.35 liability at Smarkets. Your net profit is £18.65.
- If Sadio Mane does not score the first goal: Your £25 free bet loses at Grosvenor. However, the £19.03 lay bet wins at Smarkets, minus £0.38 commission equals £18.65 net profit.
So, we will make £18.65 whatever the outcome of the free bet. Considering our £0.75 qualifying bet loss, your net profit is £17.90 from this £25 free bet offer. This represents 71.6% retention of the free bet amount.
Where next?
You can now complete basic free bet offers. Progress to larger offers as you gain experience.
Check out our other starter guides:
- Risk free matched betting strategy for first bet refund offers,
- Then the bonus rollover strategy for Stake Returned bonus offers.