The 888sport sign up offer is another straightforward starter for matched betting newbies. Simply register an account and make your first deposit with promo code ’30f’. If we then bet £10.00 or more on any sport, 888sport will give us £30.00 in free bets. Translated into matched betting terms, this gives us a guaranteed profit of £23.80 and here’s how…
Key Terms
- We must enter promotion code ’30f’ when making our first deposit.
- The minimum qualifying stake is £10.00.
- Our qualifying bet must be placed at odds of 1.50 (1/2) or greater.
- 3 x £10.00 free bets are valid for 7 days.
The Strategy
This is a straightforward ‘Bet X, Get X‘ offer.
To claim the £30.00 in free bets, we’ll need to bet £10.00 at odds of 1.50 (1/2) or greater.
We can then use straightforward matched betting to extract 80% cash from our £30.00 in free bets.
Qualifying Bet
It’s entirely up to you what you place your qualifying bet on, but we need to find something with close back and lay odds. I’ll use odds for a fictional football match in the following example to demonstrate how this offer should be done.
We can lay our bets with Betfair or Smarkets. At the time of writing, Smarkets is likely to give us the smallest qualifying loss and greater overall profit.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £10.00…
Place £10.00 on Team A @ 1.50 = Potential profit of £5.00
Lay £10.00 on Team A @ 1.52 = Potential liability of £5.20
Let’s have a look at our potential profit/loss for the following outcomes…
| Outcome | 888sport | Smarkets | Overall Profit/Loss |
|---|---|---|---|
| Team A win | + £5.00 | – £5.20 | £0.20 loss |
| Team A don't win | – £10.00 | + £9.80 (£10.00 minus 2% commission) | £0.20 loss |
So, regardless of the result of the match, we’ll lose £0.20 in qualifying for our £30.00 in free bets.
Free Bets
Our 3 x £10.00 free bets will be credited upon settlement of our qualifying bet. One of the £10.00 free bets is to be used on mobile. The free bets will be valid for 7 days and free bet stakes will not be included in any returns.
By using straightforward matched betting, we can extract 80% cash from any free bet. Take a look at my Free Bet Strategy page for a walk-through guide on how this should be done.
So, we should be able to extract £24.00 cash from our £30.00 in free bets. If we take into account our qualifying loss of £0.20, this gives us a guaranteed profit of £23.80 on this 888sport sign up offer!
Jon
can you also use this route?
Bet £10 @ 14 (which becomes 42) so £420 if it wins
Lay £10.41 @ 13.5 which means a £130.12 liability
Jon
Sorry a continuation;
If the horse wins you get £420 minus the £130.12 you’ve lost on Betfair = £289.88 profit
If the horse loses you lose your £10 bet but win £10.41 on Betfair minus your 5% commission is £9.88 so loss of £12p.
The above is using the horses you selected, by going for a horse which is more favoured to win (ie smaller odds) you’ll obviously get a smaller profit if it wins but it’ll be much larger than the £20.37 you’ll get going with you method.
Your method does guarantee a win though. Let me know if I’ve done something stupid in my methodoligy.
Matt
Hi Jon, your strategy is fine if that’s the way you want to play it. All you’re effectively doing though is gambling your £20.00 guaranteed profit on a 14/1 shot to win £280.00+.
The way I see it, if you put £20.00 on 4 different horses at 3/1, on average you’ll win £60.00 once and lose £20.00 three times and therefore break even.
The beauty of matched betting is that we can make risk-free profits and beat the bookies so I’d be banking the £20.00 profit every time, but as long as you cover your stake and you don’t stand to lose money, there’s no reason why you can’t play it that way mate.
Owen
How do you calculate how much you lay on this deal? Can’t quite get my head round this one?
Matt
Hi Owen. You just need to work out your treble odds. Then all you need to do is enter your treble back odds and the exchange lay odds into the matched betting calculator to get your lay stake.
hitesh
hey from last 10days i m struggling to bet on horses but i cant bet because i m not understanding how to bet.it will b grateful if u help me
Matt
Please contact me via my contact form for general matched betting queries…
Richard
Managed to back Alfahad at 12.30 lingfield for 17.00 so 49.00 in effect and layed it off pre race at 4.00. Get In!!!!!!! I was about to lay at 15.00 and the odds fell through the floor!