£38.00
Guaranteed Profit
- -
Actual Profit

LeoVegas Sign Up Offer – £50 Free Bet


Posted by Matt (administrator) Matt

The LeoVegas sign up offer is a step up in profit compared to the smaller free bet offers. Simply sign up today and bet £10.00+ and LeoVegas will match 50% of our stake as a free bet, up to a maximum of £50.00. Translated into matched betting terms, this gives us a guaranteed profit of £38.00 and here’s how…

Banner showing the LeoVegas sign up offer

Key Terms

The key terms to be aware of are as follows:

  • The minimum stake required is £10.00.
  • Our qualifying bet must be placed at odds of 2.00 (evens) or greater.
  • 50% of our stake will be matched as a free bet, up to a maximum of £50.00.
  • Free bet must be used via mobile on any sport other than horse racing.
  • Skrill and Neteller deposits do not qualify.
  • We must place our qualifying bet within 7 days of our first deposit.
  • Free bets are valid for 7 days.

The Strategy

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

To claim the maximum £50.00 free bet, we’ll need to bet £100.00 at odds of 2.00 (evens) or greater.

We can then use straightforward matched betting to extract 80% cash from our £50.00 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: £
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 £100.00…

LeoVegas logo

Place £100.00 on Team A @ 2.00 = Potential profit of £100.00

Smarkets logo

Lay £100.00 on Team A @ 2.02 = Potential liability of £102.00

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

OutcomeLadbrokesSmarketsOverall Profit/Loss
Team A win+ £100.00– £102.00£2.00 loss
Team A don't win– £100.00+ £98.00 (£100.00 minus 2% commission)£2.00 loss

So, regardless of the result of the match, we’ll incur a qualifying loss of £2.00, but we now have a £50.00 free bet!

Free Bet

Our £50.00 free bet will be credited to our account as soon as our qualifying bet has been settled. The free bet will be valid for 7 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 £40.00 cash from our £50.00 free bet. If we take into account our qualifying loss of £2.00, this gives us a guaranteed profit of £38.00 on this LeoVegas new customer offer!

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