Treble the Odds


Posted by Matt (administrator) Wed, Nov 1, 2017 01:11pm Matt

If you want to know how to beat the bookies, you’re in the right place as I show you how to tackle the 888sport welcome offer for new customers. Simply place your first real money bet of between £5.00 (minimum) and £10.00 (maximum) and get treble the odds. You will be paid out at normal odds and the additional winnings will paid in free bets, the following day. Translated into matched betting terms, this gives us a guaranteed minimum profit of £12.00 and here’s how…

888sport

My advice for the 888sport welcome offer is to use an oddsmatcher, like OddsMonkey, to find some really close back and lay odds. The longer the odds, the better, but obviously this will depend on how much you can afford to deposit into your Smarkets account for laying/matching your bet.

Allow me to illustrate how we should do this offer…

If you take a look at OddsMonkey, you’ll notice that some of the best selections appear to be horse racing. I’ve just had a quick look and there’s a horse called Feelin Dicky, running in the 17:55 at Kempton on Wednesday 10th February 2016. His back odds at 888sport are 7.50 (13/2) and his lay odds at Smarkets are 7.80.

If we place our qualifying bet on Feelin Dicky at odds of 13/2, our trebled odds will be 39/2. This means if Feelin Dicky wins, we will receive £75.00 cash and £130.00 in free bets. We already know that by using straightforward matched betting, we can extract 80% cash from any free bet, so in this case, £104.00. This gives us total cash returns of £179.00 and effective odds of 17.90.

I like to place my exchange lay bets with Smarkets as they have great liquidity, 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 enter our effective odds as our ‘Back odds’ in my matched betting calculator to calculate our correct lay stake…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

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

Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £23.01…

888sport logo

Place £10.00 on Feelin Dicky @ 7.50 = Potential profit of £65.00

smarkets white

Lay £23.01 on Feelin Dicky @ 7.80 = Potential liability of £156.45

Let’s have a look at your potential profit/loss for the two outcomes…

Feelin Dicky wins +£65.00 – £104.00 (extracted from £130.00 in free bets) – £156.45 = £12.55 profit
Feelin Dicky doesn't win -£10.00 + £22.55 (£23.01 minus 2% commission) = £12.55 profit

So regardless of the result of the race, we would make a guaranteed profit of £12.55! So I think it’s fair to say, if you make sure you get some decent odds, you should make a minimum guaranteed profit of £12.00 on this 888sport offer.

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