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Free bet if you lose offer – puzzled!

  • Hi – just getting into dealing with free bets, but am not sure what to with the ‘free bet if first bet loses offer’ – I’m puzzled because I’ve read two different ways to approach this. There is the view you should treat your first bet as a SNR bet, and if you lose use the free bet as a qualifier bet. I’ve also read elsewhere that you should go for odds of 5 plus on the first bet, but underlay it, though they weren’t too clear on what you should do on the free bet if you lose. The main point they were making that this type of offer was half the value of the ‘free bet’ offer (without explaining why). Any advice/clarification welcomed – your help so far had been great! Thanks! (And if this kind of query has been dealt with elsewhere I apologise – but point me in the right direction!)

    +0
    robbierobbo
    0
    April 11, 2016 at 2:03 pm

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    deathstar 25 April 11, 2016 at 6:31 pm

    The two methods you describe are the same. I think the other way you mean is to do a qualifying bet (not SNR)

    these sort of offers can be done either way, its a matter of choice really, and whether you have an idea of what the outcome maybe and whether you are willing to gamble or not. (eg you think a team will win or lose)
    if you go the underlay route, the reason it only gives you half the amount is because you are guaranteeing a profit either way, win or lose. so you are dividing the profit over both outcomes.
    if the bet loses, you get the funds into your exchange and the bookie gives you the free bet that you can just use on whatever.

    Bear in mind though, if you do match your bet fully (ie not underlay) and it loses, you will get your money back as a free bet but it will be stake not returned so highly unlikely you will be able to get the full value back from it.

    Have a look back through Matts blog for skys money back if the favourite wins offers last week.

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    robbierobbo 0 April 24, 2016 at 10:46 pm

    Hmm – had a go with Genting over the weekend..£10 bet with a £10 free bet if it lost. Well I wish I was as intelligent as most people on here as I still don’t get it..over the two bets (I lost on the first bet) I think I made about £3…what I don’t get is this notion of ‘cashback’ which you find on the calculator…what is the cashback?

    I’ll be honest I think once the easy ‘free bets’ are done, and you move into the more complicated ones, especially those with the rollovers I think you have to have more liquidity than I can afford to make it worthwhile – I enjoy it, but I don’t see it making the kind of money I thought it might at the outset…and I wonder how many people like me tend to drift away after a few months – which I assume is good news for the veterans!

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    deathstar 25 April 25, 2016 at 6:44 am

    TBH I think the term cashback is a bit misleading. I think of it as a stake forfeit.
    What confused me when I started was the idea is that the free bet on lose is not the same as a straight money back offer, but even though the theory is different, the same calculator can be used to make the maths work.

    so the idea is that you will only earn around 80% of the bet, so you need to underlay. this means if you win, you won’t lose the full value of the bet out of the exchange. If you lose, you won’t get as much back into the exchange, but you will have the free bet to make up the difference.

    Hope that makes sense.

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