Register an account with Betway, deposit £5+ and place your first bet on a football or horse racing multiple with 3+ selections. If your bet loses, Betway will match your losing stake as a free bet up to £30.
- Debit card deposits only. No other payment method will qualify for this promotion.
- Minimum deposit of £5.
- Minimum stake of £5.
- Maximum free bet of £30.
- Your qualifying bet must be a football or horse racing multiple with 3+ selections.
- Minimum total odds of 3.00.
- Qualifying bet must be placed within 7 days of registration.
- If eligible, your free bet should be credited within an hour of your qualifying bet settling.
- The free bet will be valid for 7 days.
- The free bet stake will not be returned with any winnings.
Always check the terms of an offer yourself before placing any bets. Bookmakers can amend their terms anytime, so it’s always worth double-checking.
- Sign up for a Smarkets exchange account if you haven’t already. You’ll need this to match your bookmaker multiple bet.
Matched Betting Blog receives a small commission when you sign up to Smarkets via the link above. It helps support the site and keeps it free for everyone to learn matched betting.
- Register an account with Betway.
- Deposit £30 using a debit card.
- Switch to decimal odds.
- Your qualifying bet must be a football or horse racing multiple with 3+ selections and minimum total odds of 3.00. Check the back odds at Betway and the lay odds at Smarkets to find suitable selections. Look for overall odds around 5.00 (4/1) and above, as high odds should give you more profit than low odds.
- Use the ‘Money Back if Bet Loses‘ setting on the Matched Betting Calculator to calculate your lay stake. You can enter £24 as your ‘Cashback‘ figure as that’s the amount you can expect to convert your £30 free bet into (80%), should your qualifying bet lose.
- Place your £30 qualifying back bet on an eligible football or horse racing multiple at Betway (within 7 days of registering).
- Place your lay bet against the same multiple at Smarkets.
- If your qualifying bet wins, you’ll make your profit at Betway, and you won’t need to place any further bets. If your qualifying bet loses, your £30 free bet should be credited within an hour of settling.
- Check the back odds at Betway and the lay odds at the betting exchange to find a suitable selection.
- Use the ‘Free Bet’ setting on the Matched Betting Calculator to calculate your lay stake.
- Place your £30 free back bet at Betway (valid for 7 days).
- Place your lay bet against the same selection at the betting exchange.
Aim for an £18 profit on this Betway offer as a rough guide.
General advice and example for ‘Money back if bet loses’ offers
Place your ‘Money back if bet loses’ bets at high odds to maximise your profits. Use the ‘Money Back if Bet Loses’ setting on the Matched Betting Calculator to calculate your lay stakes. In the ‘Cashback’ field, you should enter the amount of your cash refund or the amount you expect to convert if the bookmaker pays your refund as a free bet or bonus.
You can convert any free bets or bonuses into cash. Use the ‘Free Bet’ setting on the Matched Betting Calculator to calculate your lay stakes. It’s best to place free bets at high odds to maximise your profits.
See my Money back if bet loses guide for a complete walkthrough of this offer type.
How to lay a multiple bet
Your best option is to lay your multiple at Smarkets, as their platform allows you to build any multiple and lay it as one bet. Therefore, you can place your multiple bet at the bookmaker and then build and lay the same multiple at Smarkets.
See my Laying Multiples guide for a complete walkthrough of the process.
Learn matched betting the free, easy way.
The Matched Betting Academy
- Logically structured to tackle strategies and offers as you’re ready for them.
- Bag profits every step of the way. About £650 from welcome offers, and another £500 monthly.
- Make £15 from your very first offer.