Betfair – withdrawing money

patrick, I’m not making many deposits, just withdrawals 😉

I notice smarkets and betfair charge me when I deposit but I’m not getting charged by either the bookies on deposits or my credit card company for cash advanced fees when deposit.

And thanks for the compliment too 🙂

Sorry jp – but we get the Bet365 questions once a week now from newbies and tired of explaining it ! Not your fault though, this is the first time you asked.

You are not far off and very correct that if your bet wins in the bookie then you have a big rollover and need alot of funds in the exchange to match.

I think the safest way to do it is:

1. Deposit 200 and get 200 automatically.
2. Balance is 400 but granted 200 of that is non withdrawable.
3. 3 times rollover means you have to settle up to 1200 in bets.
4. Find tight matches (much tighter than you put in your example) at around no higher than 2/1 odds.
5. Don’t go for large odds because if they win in the bookie and you cant withdraw because you have not met rollover yet.
6. Treat as qualifying bet. Betting over and over losing about 5% to 10% in qualifying losses each time. Betting 50 a turn at 2/1 means that you will need a couple hundred in your exchange, and a spare couple hundred in case the bookie wins a few in a row.
7. You might get lucky and lose the bonus to the exchange in which case you dont have to fully rollover.
8. To rollover 1200 losing 5% to 10% on each bet will cost you £60 to £120.
9. At the end of the rollover you should have 400 minus this loss so up to £340 from your initial £200 deposit.

And then do the on the move offer in the same way for another maybe £40 profit.

That is interesting. Which bank is your credit card with fog, if you don’t mind?

With the Bet 365 offer you really should make use of the full £200 bonus offered.

Sign up with Bet 365 and after your account has been accepted you will be sent an offer code.

Enter that code ( code is for a 100% deposit bonus ) and then deposit £200.

To be able to get access to bet with your bonus you have to make a bet , or a series of bets totalling £200.

My preferred way of doing is with short priced football matches with odds at 1.5 or above.

For such odds you should be able to find lay odds of 1.525.

Place you bet with Bet365 of £200 at 1.5 to win £100 and a lay bet at Smarkets of £190 at 1.525..

If the bet wins at the bookies you win £100 at the bookies and lose £100 on Smarkets.

If the bet loses you have lost £200 at the bookies but won £190 less £4 commission – net loss of £16.

Having made your initial bet it now brings the bonus into play.

If your first bet won you now have £200 initial deposit, +£100 winnings + £200 bonus = £500 in total.

Now do the same thing again , bet £500 on Bet365 at 1.5 and lay £475 at Smarkets at 1.525.

If that wins at the bookies you win £250 and lose £250 on Smarkets. Overall you are even.

If this bet loses you will have lost your stake at the bookies (£200 of which was your bonus) but have won £475 less £10 commission at Smarkets resulting in an overall gain of £165.

Now in the case where the 2nd bet above won you have £750 in the bookies. Do the same again bet £500 to meet the rollover requirements. If it wins you now have £1,000 in the bookies and you have broken even on your bets , but have fully met your rollover requirements and can withdraw £1,000 which includes your full £200 bonus which is your profit.

If this 3rd bet loses you lose £500 at the bookies but again £200 is your bonus but get £475 less £10 commission from Smarkets, again giving £165 profit overall.

Now going back to the original scenario whereby your first bet lost . Again your bonus is activated so you will have £200 in your account.

Use this £200 to bet and lay at 1.5/1.525.

If this 2nd bet loses you will have lost your £200 bonus at the bookies but converted it to £186 in real cash at Smarkets less your loss on the 1st bet of £16 so in this case you have made £170 profit in total.

This is my preferred way to do it. You will need funds of £600 to support your Smarkets accounts.

Others would advise betting on high odds for the 1st and 2nd bets in the hope the bets lose. In my view thats a risky way of doing is as you need more cash in the exchange and the bets get bigger.

Another way is to do all the rollover requirements using the 4/1 feature race & Chn 4.

You have 90 days to complete the rollover requirements so by using the 4/1 + offer it is possible to extract the full £200 from the offer.

Fog_Blog I like your sense of humour.
Unfortunately I do not have the powers of King Canute so can not stop the tide I am afraid.
The match betting juggernaught has such momentum now.

Just look at the Cheltenham offers, Sky money back on losers in 1st race of the day and PP MBS 2nd in every race. Coral with their £20 offer per day for backing each Saturday.

Can someone (maybe patrick!) explain the lay bet figures in patrick’s method for extracting the bonus above.

For example, “Place you bet with Bet365 of £200 at 1.5 to win £100 and a lay bet at Smarkets of £190 at 1.525..”

If a back stake of £200 is entered in the calculator, the lay stake required is £199.34 whereas patrick suggests a lay stake of £190.

What is the benefit of using patrick’s lay stake instead of the lay stake specified on the calculator and how is it calculated?

Thanks mike d