Welcome to our Betting Strategies and Gambling Info hub where you will find plenty of help with the various intricacies of gambling, including the sometimes convoluted terminology, advice on effective betting strategies (as well as those to be avoided) and information about the holy grail of the gambling world, ‘value’. We start with some advice on how to use your free bets to help make you money.
Making Money From Free Bets
There are several options when it comes to making money from bookie freebies and different strategies you can use. By using free bets and bookmaker offers wisely you can turn the odds in your favour and create value bets. In this short feature we look at different ways you can take advantage of all our offers.
Free bets are like many special or introductory offers in all walks of our wonderful capitalist existence and they are designed to encourage new business. They hope that the free bet will encourage people to bet and go on to spend, for which read lose, lots of money with them. Of course, many people do exactly that which is why bookmakers can afford to have the offers, sponsor the biggest football teams and post profits in the millions of pounds. Having said that, free bet offers cost the bookmaker roughly 80% of the value of the free bet (based on a standard, stake-not-returned free bet offer) and if you follow our advice you can be sure to take the bookmaker for that and plenty more.
Please note that the strategies discussed here and the hypothetical outcomes are based on cold, mathematical probability over the long-term. Variance – aka good and bad luck – can skew actual results significantly, especially in the short-term. Also, as sharp and eagle-eyed as we are here in the Freebet Mansion, please note that bookmaker terms and conditions change frequently so possible bets discussed here may no longer be appropriate. Finally, as ever, only bet what you can afford to lose. Hate to be negative but goddamn variance can sink or damage even the most controlled of staking plans.
Normally the overround stacks the odds in the bookies’ favour. Obviously, if you pick value bets this isn’t the case however, even without finding value, you are given in-built value through the bookmakers’ free bets. If you back something at 1.90 (we use decimal odds in this discussion for clarity and simplicity) with your qualifying bet that actually has a 50% probability of happening then half the time you would expect to win 90p and half the time lose £1.
Clearly, over time, this is a bad proposition, however, when you factor in that by placing this bet you gain a free bet, things change. If you repeat the free bet on a similar selection you have three possible outcomes. If one bet wins and one loses (which you would expect to happen 50% of the time) you are down just 10p, if both bets win (expected 25% of the time) then you win £1.80 and if both lose (again 25% of the time) you are down only your original £1. If you then repeated this process with four bookmakers offering the same bet you would expect to lose 10p twice, lose 90p once and win £1.80 once – leaving you in profit to the grand tune of 70p.
This is working on probability but the principle is simple – you have value because you get two bets for the price of one. 70p isn’t much but if we assume that these free bets were £50, instead of just £1 then you have an expectation of £35 profit – and this is based on backing bad value bets!
Pretty similar to the above really but perhaps shows the value you gain more clearly. Not all bookies permit this and not all credit the free bet instantly but for those that do it gives you a really good opportunity when you find a good bet. Let’s assume you find odds of 2.20 on a selection you calculate to have a 50% chance of winning. That probability would suggest “fair” odds of 2.00 and clearly you have found better odds (or have followed our betting tips) so have a good bet.
However, let’s assume you have taken advantage one of our Great Free Bets and placed both your paid, qualifying bet and your free bet on the pick. You are now betting £1 and instead of standing to win £1, as would be “fair” or even £1.20 as you would having found a great bet, you actually stand to win £2.40. This means you are getting odds of 3.40 for your £1, paid stake on a selection with a 50/50 chance of winning. Do this a few times a week and that retirement will be coming sooner than you thought.
Matched betting is a way of using Betting Exchanges, such as Betfair to “insure” bets and so secure a percentage of the free bet value. It is not something covered in great detail on this site as we believe that significantly more can be made by placing value bets and not losing money to the exchange in commission.
There are many other possible strategies depending on the level of risk you like and how much faith you have in your ability to find value bets. Ultimately, all the freebies we offer put the odds on your side and give you a great chance to make some easy money. Whether you bet regularly and follow our advice and great, Free Betting Tips, use us as a guide to find value bets or just use the bookmakers’ free bet offers as one-offs where the odds and probabilities are favourable irrespective, you’re onto a winner here!