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Introduction To The Free Bet Challenge

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Introduction To The Free Bet Challenge

  1. 2. Introduction <ul><li>A lot of bookmakers seem to be throwing money at you, offering Free Bets of £10, £25 or up to £50. But, there’s normally a catch. </li></ul><ul><li>To get this free bet, you normally have to have bet the same amount before. </li></ul><ul><li>But for a first time gambler, this can be rather daunting for a first-time gambler. If you lose your hard-earned £25 to gain a £25 free bet, then you’re not really any further forward. But there are ways round this. Hence, the Free Bet Challenge </li></ul>
  2. 3. The Internet <ul><li>The internet has been great for those wanting to bet on sports. It offers easier betting, and more choice. Access to many more bookmakers gives punters the opportunity to bet on more and more markets. And more bookmakers means more competitions, and so better odds. </li></ul><ul><li>Betting exchanges even give you the opportunity to be the bookmaker yourself, and give others the chance to bet with you. </li></ul>
  3. 4. It’s all about the odds <ul><li>Gambling is a basic exercise in risk-reward. The basic idea is that your return matches or exceeds your risk. This is why when you look at odds, you should always use the Decimal option (or the ‘EU option’). This is because the decimal odds suggests the probability: </li></ul><ul><li>2.00 = event will occur once every 2 times = 50% probability </li></ul><ul><li>2.50 = event will occur once every 2.5 times = 40% probability </li></ul><ul><li>It’s important to understand the odds. Now you can lay the risk on exchanges such as Betfair, it is possible to ‘trade’ risk. </li></ul>
  4. 5. How exchanges work <ul><li>Example </li></ul><ul><li>David is a bookmaker. He offers somebody the chance to bet £60 on Nadal at 2.5. </li></ul><ul><li>If Nadal wins, he’ll lose £90. </li></ul><ul><li>If Nadal loses, he keep the £60. </li></ul><ul><li>He can make a profit on this if he can go to another bookmaker, John, and bet on Nadal at better odds. </li></ul>
  5. 6. <ul><li>Say John is offering better odds on Nadal, of 3. </li></ul><ul><li>If David stakes properly, he can guarantee himself a profit. If he bets £50 on Nadal at odds of 3: </li></ul><ul><li>If Nadal wins, he’ll win £100 </li></ul><ul><li>If Nadal loses, he’ll lose his £50. </li></ul><ul><li>When you look at both the bets together: </li></ul><ul><li>Nadal wins = David loses £90, and wins £100. </li></ul><ul><li>Nadal loses = David wins £60, and loses £50. </li></ul><ul><li>WHATEVER HAPPENS TO NADAL, DAVID WINS £10. </li></ul>
  6. 7. <ul><li>You can unlock a lot of free bets by making your qualifying bet using this system. </li></ul><ul><li>The example above is a simplified version. In reality, the odds are unlikely to be that different, and the exchange will normally take a commission on profits made with them. But read on to see how it works. </li></ul>

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