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Karamba Sign Up Offer – £10 Free Bet

Posted by Matt (administrator) Matt

Karamba are running a nice little offer for new customers. Simply sign up and deposit £10.00 or more, then bet £10.00 at odds of evens (2.00) or greater and Karamba will give us a £10.00 free bet. Translated into matched betting terms, this gives us a guaranteed profit of £7.80 and here’s how…

Karamba Sign Up Offer - £10 Free Bet

Key Terms

The key terms to be aware of are as follows:

  • Minimum deposit and wagering on sport to activate the free bet is £10.00.
  • Our qualifying bet must be placed at odds of 2.00 (evens) or greater.
  • Free bet is valid for 14 days.

The Strategy

This a straightforward ‘Bet X, Get X‘ offer.

To claim the £10.00 free bet, we’ll need to bet £10.00 at odds of 2.00 (evens) or greater.

We can then use straightforward matched betting to extract 80% cash from our £10.00 free bet.

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…

Select bet type

Back Bet (Bookie)


Lay Bet (Betting Exchange)


Min £
Max £
Lay stake required: £
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 £10.00…

Karamba logo

Place £10.00 on Team A @ 2.00 = Potential profit of £10.00

Smarkets logo

Lay £10.00 on Team A @ 2.02 = Potential liability of £10.20

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

Outcome Karamba Smarkets Overall Profit/Loss
Team A win + £10.00 – £10.20 £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 incur a qualifying loss of £0.20, but we now have a £10.00 free bet!

Free Bet

Our £10.00 free bet will be credited to our account once we have placed our qualifying bet. The free bet will be valid for 14 days and the free bet stake will not be included in any winnings.

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 £8.00 cash from our £10.00 free bet. If we take into account our qualifying loss of £0.20, this gives us a guaranteed profit of £7.80 on this Karamba new customer offer!

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