Betbright £30 risk free bet??

Alright lads new to this whole matched betting business. I’m a bit confused about making a £30 risk free bet on betbright. I was looking at the strategy guide for risk free betting and the cashback setting on the calculator is a bit confusing to me. I want to make a £30 risk free bet with back odds of 3.55 and lay odds of 3.8. I’m not too sure what to enter in the cashback section?? Do I enter £30 pounds because that’s how much money I will get back if the bet loses?

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Horsee
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April 19, 2016 at 3:38 pm

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FoG_BLoG 47 April 19, 2016 at 4:29 pm

Well it depends. How much money do you get back if you lose? Do you get money or a free bet?

If you are getting £30 free bet back then you will only extract £24 (80% extraction assumed) from that in real money so put in £24 ….

Knowing BetBright they are giving you a free bet back and not money back, probably.

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iammonst3r 1 April 19, 2016 at 8:51 pm

Put £24 in the calculator as FoG said. Try to go for higher, closer odds though to maximise your profit.

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Horsee 0 April 20, 2016 at 12:03 am

Thanks for clearing that up fog 🙂 Yeah it’s a £30 free bet that you receive if your bet loses…..still not entirely sure what you mean about the £24 extraction rate (80 %)….how does that work out? Do I not just get a £30 free bet back? Yeah monster I would go for higher odds but I don’t have a lot of money to cover the liabilities so I’m staying with kinda low odds for now 🙂

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RyanB 11 April 20, 2016 at 8:54 pm

No offence horsee if you can’t grasp what he means by 80% extraction of the free bet then you need to read up more before continuing trying to matched bet….

If you bet loses you get a £30 free bet. Which you will then use the free bet setting on the calculator and from that £30 free bet you will receive anywhere from £20-25+ depending on the odds you manage to find, as a guide people use the 80% extraction.

This is a basic principle of matched betting, so if you don’t understand this do not carry on as of yet as you risk just losing money.

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FoG_BLoG 47 April 21, 2016 at 3:50 pm

Yes you get a £30 free bet back, but its not worth £30.

Have a read of this strategy to convert free bets into real money.

https://matchedbettingblog.com/free-bet-strategy/

In general you should be able to extract 80% of the value of the free bet into actual cash. So that’s why I would put in £24 in the cash back box.

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