Calculating a 100% bonus 10X wagering requirement

• Hi, I’m new to the matched betting and new to this forum which has been invaluable so far.

  In the last 3 weeks I have taken advantage of most of the free sign up bonuses and now have a decent bankroll across them and have been using the Betfair exchange for my lay bets.

  I want to start taking advantage of the 100% sign up bonuses now the first being on Goldenbet.

  They offer a 100% bonus up to £500 with a wagering requirement of 10X deposit + bonus on minimum of 3 events with at least odds of 1.4 before attempting withdrawal.

  If depositing £100 are my maths and assumptions are correct…

  Deposit: £100
  Bonus: £100

  Total bankroll: £200

  min. wagering requirement: 10X deposit + bonus

  Value of wagering requirement @ 10X: £2000

  Value of each bet: £2000 / min. wagering requirement = £200

  min bet odds: 1.4

  Sample matched bet:

  Back stake: £200 (Stake Returned)

  Back odds: 1.41

  Lay odds: 1.45

  Lay commission: 2%

  Lay stake required: £197.20

  Total profit per bet £193.25

  10 X bets as above would therefore profit (10 x £193.25) – £100 deposit = £1832.50

  HOWEVER…. for this to work I would need at least (10 x Lay stake) in the exchange to cover losses which would be £1972 and the same deposited to the Goldenbet account after the initial deposit and first bet.

  If I make a second deposit to the Goldenbet account can this be used to meet the first deposit + bonus wagering requirement?

  Thanks for your patience!

  +0

  

  James88

  0

  January 18, 2023 at 10:29 am