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Free bet strategy

DOHHHHHHHDOHHHHHHH Member Posts: 17,929
edited June 2014 in Sports & Betting Chat

Offers galore at the minute with the World Cup starting, but what's the best way to maximise the value of free bets?

The stake isn't returned with any winnings, so does this make using them on short prices pointless?

I found a £10 free bet in my account last week and put it on a 5/6 shot which won. 

This turned my £10 free bet into £8.50 cash.

But then I'd buy a £10 bet for £8.50 if I could anyway (obviously) so that felt like horrific useage of my free bet.

Are there any general rules to follow here?

Any tips to get the maximum value?

Thanks.
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Comments

  • goldnballzgoldnballz Member Posts: 2,814
    edited June 2014
    Always better to use it on a longer shot, here's a quote from betting emporium.

    'One thing to remember is that when you get money returned to you as a free bet then the best way for you to use this in terms of the maximum return for your free bet is to look at bigger priced options that are as close to the probability (if you aren’t confident in your own odds compiling abilities then just use the Betfair market as a guide) as possible. This is because you don’t get your stake back. To give you an example. If you have a £100 free bet and use it on an even money shot. This will win roughly 50% of the time so the expected value of the free bet is £50 (50%*£100). If you use it on a 9/1 shot then you will have an expected value of £90 (10%*£900) so always look at the bigger priced options.'
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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    Its basically subjective but I'll say what I would do....

    If you punt the free bet with a bookmaker you will almost always be placing a negative expectation bet (at all prices, due to the over round)

    If you punt it theres always a chance that you lose. 

    Some firms are quite tricky to deal with. For example you have to send them unreasonable amounts of ID to withdraw, they charge to withdraw or you hae to roll over money x amount of times to withdraw.
    Companies registered offshore are particularly notorious (Malta, Dutch Antilles etc)

    *********

    My aim would always be to transfer the freebie to the exchange using a low cost arb.

    This website can help you find the best available at a given time:


    This way you have no chance of losing the free bet value and you add it to the exchange which is the main betting bank (for me anyway)

    You may lose ~5p in the pound in conducting the arb but you will certainly recover this loss over time with the more competetive books on the exchange.

    I read somewhere that theres about £1k in free bets floating around so its surely better to just keep taking the money IMO



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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    In Response to Re: Free bet strategy:
    Always better to use it on a longer shot, here's a quote from betting emporium. ' One thing to remember is that when you get money returned to you as a free bet then the best way for you to use this in terms of the maximum return for your free bet is to look at bigger priced options that are as close to the probability (if you aren’t confident in your own odds compiling abilities then just use the Betfair market as a guide) as possible. This is because you don’t get your stake back. To give you an example. If you have a £100 free bet and use it on an even money shot. This will win roughly 50% of the time so the expected value of the free bet is £50 (50%*£100). If you use it on a 9/1 shot then you will have an expected value of £90 (10%*£900) so always look at the bigger priced options.'
    Posted by goldnballz

    I would take issue with this as a generalisation goldnballz as the bookies price rarely (if ever) reflects chance.


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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    Got this from the BF forum. I've not done it myself but I can vouch for the poster as being reliable

    Free money for the  forum - Baldfred shops promotion.

    Text the word BALL to 89660 (by Friday 13th). Fred will immediately send you a code. Go to a Fred shop (by Friday 20th), hit the 'Fortune Code' button, type in the code and you have £5 free play on their World Cup Draw game.


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  • UkjoeUkjoe Member Posts: 1,291
    edited June 2014
    Oddschecker poss for price.
    ff5hh prob same.
    Maximum value is a win at max odds.
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  • BADBOY985BADBOY985 Member Posts: 1,957
    edited June 2014
    My strategy fwiw

    for bets where placing one automaticaly qualifies for anouther 
    ie. bet £10 at cheltenham get matched £10 bet have your selections for the day worked out and use the free bet for the longest priced.
    NEVER place a bet just to get the free bet, this is what the bookies want. if you wernt going to place a bet on the event just leave it alone.
    I as a rule never use a free bet on any event where a bookie is offering money back on losers ie.If rooney scores last all first,last and scorecasts refunded as I find the odds are contracted to cover the offer and obviously you not going to get your freebet back.
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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    In Response to Re: Free bet strategy:
    My strategy fwiw for bets where placing one automaticaly qualifies for anouther  ie. bet £10 at cheltenham get matched £10 bet have your selections for the day worked out and use the free bet for the longest priced. NEVER place a bet just to get the free bet, this is what the bookies want. if you wernt going to place a bet on the event just leave it alone. I as a rule never use a free bet on any event where a bookie is offering money back on losers ie.If rooney scores last all first,last and scorecasts refunded as I find the odds are contracted to cover the offer and obviously you not going to get your freebet back.
    Posted by BADBOY985
    Au contraire badboy. Had an e-mail from powers last night. Bet £5 and get a £10 free bet.

    Newbury 4.30pm - Backed Lac.ock @ 13/2 for £5. Layed same horse @ 7.13 (ave) for £5.00

    Got the £10 free bet for 30 seconds work ;-)
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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    Just place a bet of €5 on any sport and we'll give you a free bet of €/£10 that you can use on any sport you fancy. 

    Paddy's offer stays on the table until next Tuesday, so make sure you claim it before then, because it doesn't get better than this! Matched bets
    Order by Matched Date
    Lay (Bet Against)
    Backer's odds Backer's stake 
    Payout
    Liability
    • Lacock7.13 £5.00 £30.64
    £5.00

    12/06/2014Single To WinLacock @ 13/2 (GP) 
    Win or E/W
    16:30 HANDICAP 7f    		Pending£5.00
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  • BADBOY985BADBOY985 Member Posts: 1,957
    edited June 2014
    In Response to Re: Free bet strategy:
    In Response to Re: Free bet strategy : Au contraire badboy. Had an e-mail from powers last night. Bet £5 and get a £10 free bet. Newbury 4.30pm - Backed Lac.ock @ 13/2 for £5. Layed same horse @ 7.13 (ave) for £5.00 Got the £10 free bet for 30 seconds work ;-)
    Posted by ff55hh
    Yes but you bet on the contest you wanted on to bet in.
    My point was don't just bet on a specific event just to get a free bet.
    Powers have got a classic going at the moment bet 20 quid on top World Cup goals corer and get a 5 quid free bet every time he scores.
    This looks good but how many players score 4 goals in a tournament.
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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    I think I got mixed up between the free bet I had and the one you were on about badboy.

    The offer you're describing is barely an offer at all, like you said.

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  • DOHHHHHHHDOHHHHHHH Member Posts: 17,929
    edited June 2014

    Thanks for the advice all, it has helped me have a clearer idea about what to do with them. 

    As I'm a betting fish, I will likely get a few of these this month.

    1 everytime Fred scores, so at least 16, right?

    gl all.
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  • ff55hhff55hh Member Posts: 395
    edited June 2014
    Part 2 (£10 free bet)

    Options are +£10 if horse loses. Break even if it wins. 

    Matched bets
    Order by Matched Date
    Back (Bet For)Odds Stake Profit
    • Aure 
    Payout
    Liability
    • Aurelia Cotta7.81 £13.37 £91.11
    £13.37
    Bet Info
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  • MP33MP33 Member Posts: 6,300
    edited June 2014
    I generally look at oddschecker and see whats a decent price with that firm compared with the others and most Freebets have to be placed at 1.5 or 1.7 + anyway
     If i,ve got say 3 x £10 Freebets i,ll do say correct score on 3 different scores at 3 different bookies and try and get best odds where poss, but some good tips above which i,ll also look at

    Gonna head over to Paddys now and see if that offers still on.

    Only thing i can add to the above tips is to keep an eye on the bookies each day through the World Cup as some are for limited times only and theres new offers coming out each day - Wouldn,t suprise me if 365 do a £50 in play match bet for the England game as its always big games they do it for 

    Managed to get on this at 12pm . Not sure how long it lasted but it was for the 1st x amount of punters to bet it (max £20 )

    12 Jun 14 / 12:15Single1 BRAZIL v Croatia - 1 Million Special  –  Limited Availability - 50,000 Bets - £20 Max - Singles OnlyBrazil to Beat Croatia 12/6/2014 @ EVS–£20.00O/1748403/0000143/F

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  • MP33MP33 Member Posts: 6,300
    edited June 2014
    In Response to Re: Free bet strategy:
    Just place a bet of €5 on any sport and we'll give you a free bet of €/£10 that you can use on any sport you fancy.  Paddy's offer stays on the table until next Tuesday, so make sure you claim it before then, because it doesn't get  better than this!   Matched bets Order by Matched Date Lay (Bet Against) Backer's odds   Backer's stake   Payout Liability Lacock 7.13   £5.00   £30.64 £5.00 12/06/2014 Single To Win Lacock @ 13/2 (GP)  Win or E/W 16:30 HANDICAP 7f Pending £5.00
    Posted by ff55hh
    I can,t see this offer on paddys . Did you get an email or is it on the site?
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  • wynne1938wynne1938 Member Posts: 20,556
    edited June 2014
    Joined the free Daily Mirror world cup competition and registered with Betright for a free risk free £30 bet,if bet looses they refund your account with £30 cash,if you win, you keep the winnings.
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