NetBet Offer – NBA 100% Refund

October 26, 2016 / Basketball / 10 Comments

Kick-off time (GMT): 26/10/2016 : 00:30

Guaranteed profit
£6.40

The new NBA season is underway and NetBet are getting in on the action. Simply place a bet on any NBA match this week and if our bet loses, NetBet will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £6.40 and here’s how…

Qualifying Bet:

This offer is available to the first 2,000 customers who opt in and place a qualifying bet.

We must opt in to this promotion before 10:00 on Sunday 30th October 2016, to be eligible. We need to bet on any NBA game being played between Wednesday 26th October 2016 and Sunday 30th October 2016.

If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how it should be done.

As we get a free bet refund if our qualifying bet loses, this is effectively a risk-free offer and so we need to select a team with fairly long odds. Having looked at the odds available, I’ve opted to place my qualifying bet on Brooklyn Nets to beat Boston Celtics.

I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges.

We can work out our lay stake by selecting the ‘Risk-free bet’ setting on my matched betting calculator. We need to enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract from our £10.00 free bet, should our bet lose…


Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%
Lay stake required: £
Bookie
Exchange
Total
If back (bookie) bet wins
= £
If lay (exchange) bet wins
= £
Bookie
Exchange
Cashback
Total
If back
bet wins
= £
If lay
bet wins
= £

Total profit:
+ Free bet

As you can see, the calculator tells us that our lay stake should be £8.57…

netbet

Place £10.00 on Brooklyn Nets @ 11.50 = Potential profit of £105.00

smarkets white

Lay £8.57 on Brooklyn Nets @ 12.50 = Potential liability of £98.60

Let’s have a look at our potential profit/loss for the possible outcomes…

Brooklyn Nets win +£105.00 – £98.60 = £6.40 profit
Brooklyn Nets don't win -£10.00 + £8.40 + £8.00 (extract 80% from our £10.00 free bet) = £6.40 profit

So, regardless of the outcome, we’ll make a guaranteed profit of £6.40 on this NetBet offer!

If our bet loses, our £10.00 free bet will credited on Monday 31st October 2016 and will be valid for 7 days.

If you’re not sure how to extract 80% of our £10.00 free bet, please see my Free Bet Strategy page for a walk-through guide on how it should be done.

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10 Comments

  1. WR

    October 26, 2016
    / Reply

    Morning Matt,

    Could you explain why you put 8 as cashback rather than 10, I'm a little bit confused??

    • claytonp90

      October 26, 2016
      / Reply

      You won't get all £10 back from the free bet so I assume the 8 is what he has extracted from that?

    • Matt

      Matt

      October 26, 2016
      / Reply

      If our bet loses, we can expect to extract 80% cash from our £10.00 free bet. This is why we need to enter £8.00 as our 'Cashback' figure. I've added an explanation to the post mate.

  2. Richard

    October 27, 2016
    / Reply

    Can you repeat this offer across multiple NBA games, or is it only on offer for one get?

    • Matt

      Matt

      October 27, 2016
      / Reply

      'NOTE: Only the first bet on any NBA match will count towards this promotion. Minimum odds 4/5.'

  3. Andrew

    October 27, 2016
    / Reply

    Do not do this offer net bet never payout in free bets, they say you were unsuccessful in opting in in the first 500 or 1000 customers, can anyone who got the free bets off this confirm

    • sleepless

      sleepless

      October 27, 2016
      / Reply

      Thanks for your warning.
      I was thinking of going with this, but having to register first. Is the new customer 50% offer worthwhile?.

      Can't see any mention of first 500 in TC's

      Must the FB be staked on NBA matches or any market?

  4. tchaitcho

    October 28, 2016
    / Reply

    sounds like Andrew may be onto something, deep in the TCs i saw ....
    This offer is only open to the first 2000 customers who have opted in and placed a qualifying bet.... with no way to check how many have opted in, you can see how this will easily be a convenient get out clause for them.

    • Matt

      Matt

      October 28, 2016
      / Reply

      In theory, the offer should be pulled once they reach that number.

  5. Marcus

    October 29, 2016
    / Reply

    Go on their live chat and they will confirm if you are one of the 2000


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