Kick-off time (GMT): 26/10/2016 : 00:30
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…
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…
As you can see, the calculator tells us that our lay stake should be £8.57…
Place £10.00 on Brooklyn Nets @ 11.50 = Potential profit of £105.00
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.