Betfair Free Bet Confused

I’m new to the Matched Betting, so allow me to be fantastic. I’m about to sign-up Betfair & trying to claim Bet £10 Get £30 free bet though its T&C says “You first need to open an account from using promotional code ZSK200. Then, you will need to place a SINGLE Sportsbook (Fixed Odds) bet (minimum stake £/€10) at odds of at least 1.2 (1/5) within 30 days of opening your account. “. What does Fixed Odds here mean? I thought Betfair provides only Exchange, does it also make bookmaker’s role? If so, I can’t make matched betting by using this Free Bet, can I?

or
Instead, should I use claim Free £20 Bet offer of which T&C says “The first Exchange bet you place within 7 days of registering your new Betfair account must risk at least £/€20. Your bet must settle in this period too. If your first bet in this period risks less than £/€20, you won’t be able to benefit from this promotion.”?

Someone, please enlighten me.

George

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Georger
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May 12, 2016 at 3:52 pm

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Gman 4 May 12, 2016 at 3:56 pm

I wouldn’t advise betting on their sportsbook and laying on the exchange. Instead, open up a smarkets account and use that for ur lay bets. They don’t have as many markets as betfair but only charge 2% commission compared to betfairs 5.

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Georger 0 May 12, 2016 at 4:03 pm

Gman, thanks. Yes, I also consider using smarkets but want to have Betfair as well for broadening the choices.
Any answers to my original questions?

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Tony 12 May 12, 2016 at 4:42 pm

Yes, Betfair operate a Sportsbook AND an Exchange. The 2 different sign up offers you have referred to are for each respectively. I do not believe you can do both, so pick one.

If you go for the Sportsbook offer, open a Smarkets account (they give you £10 free too btw) and then use Smarkets to lay off the qualifying bet and free bets you get at Betfair (sportsbook).

A Smarkets account (or any non-Betfair exchange account) is a must in any case, as you will need it when you want to partake in any offers on the Betfair Sportsbook, such as the 3/1+ horses offer they have this week.

Regardless of which Betfair sign up offer you go for, you will end up with an account on their Sportsbook and the Exchange – it is one and the same set of logins etc…

PS – stay ‘fantastic’ 😉

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Georger 0 May 12, 2016 at 4:53 pm

Hi Tony,

Many thanks for your comprehensive answers, I’m clear up now. Yeah, I will keep being Fantastic.

George

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deathstar 25 May 12, 2016 at 7:59 pm

To add to Tony’s post, when you first start out smarkets will probably offer enough markets for you to start earning with so its well worth using betfair only as a bookie until you get gubbed, then use the exchange part of the website. using both will get you gubbed pretty quickly.
Also, Paddy Power have just recently merged with betfair, so avoid laying any bets with them off at BF, and use a different email address to sign up.

I think (but not sure) the smarkets sign up is £10 on losses, so it can be used as a lay bet anyway.

HTH
Good luck

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The Enforcer 0 May 12, 2016 at 8:42 pm

Yes, that’s right, the Smarkets sign up offer cancels out the first £10 of losses in that exchange. This could cover more than one loss, if your first loss was £5 then the second £10, it would cover the first £5 completely and then half of the £10, leaving you only £5 down in total.

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Georger 0 May 12, 2016 at 8:50 pm

Hi deathstar,
Thank you, Yes, I follow your advice including the point of Paddy Power sign-up which is good precautionary action.

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Georger 0 May 12, 2016 at 8:52 pm

Hi The Enforcer,
Thanks, it’s good to confirm £10 is cumulative basis.

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