What Are Risk Free Bets
Certain types of bookmaker offers should be completed using the risk free bet method, this method is similar to the bet X get Y offers with a few minor differences, this type of offer will also lock in guaranteed profits.
If you are not sure how to profit from bet X get Y offer click here.
Below, I have included a screenshot of a bookmaker offer where the risk free bet method is applicable.
As you can see from the image, the bookie will reward us with a free bet equal to our back stake should our back bet lose. With these offers, we could simply use the bet X get Y approach and hope that the trigger outcome occurs (our back losses, in this example) in order to be credited with our free bet from the bookmaker. However, doing this wouldn’t necessarily lock in a guaranteed profit, as it would cost us a small qualifying loss each time the trigger outcome didn’t occur within the event.
This is where the risk free equal profits calculator comes in to ensure that we are able to lock in a guaranteed profit!
This calculator (below) is almost identical to the traditional bet X get Y calculator with 1 difference highlighted below.
How To Profit From Risk Free Bets
As you can see there are 2 extra boxes on the risk free calculator “free bet award” and “free bet retention”.
Before we start to play around with the new boxes we need to enter the applicable values into the back stake, back odds, lay odds and lay commission boxes.
Next, in the “free bet award” box we should enter the free bet amount the bookmaker will provide us with should a certain outcome occur within the particular event, in my case £10. Next to that box, named “free bet retention” enter 80 – this represents the percentage of value that we will squeeze out of the free bet should the trigger outcome occur forcing the bookmaker to reward us with the free bet.
Finally, We should place the back and lay bets with the bookmaker and exchange respectively using the information given to us by the calculator.
Below is a breakdown of how we would make our profit in this example.
Note: When running risk free offers it is a very good idea to use high close match odds. This will enable us to extract as much money as possible from the offers.
As you can see if our back bet wins we will instantly make a profit or £6.18 if this occurs and the back bet wins the offer is complete and no further action is required! If the lay bet wins we will actually incur a small loss, however, this is not an issue as the bookmaker will now credit us with a free bet which we will use to make the profit.
We should use the free bet using the basic “free bet SNR” preset on the calculator using high close match odds. Once our free bet has been settled we will have made our overall profit and the offer will be complete.
Note: Ideally the bookmakers back bet would always win giving us a profit straight off the bat, unfortunately though, as we are backing using higher odds to extract more profit, it’s unlikely that the back bet will win very often. Therefore, with that being said, it is certainly a good idea to make a note of any potential free bets that you may have to use should the lay bet win and the back bet lose.
Risk free bet offers can be closely attributed to refund offers, click here to learn more.