Newbie – Bet365
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Hi,
I’m new to this blog and matched betting itself. I’ve read the guides and think they are very good – I’ve already started extracting profits off my free bets, so thank you. I am yet to find the answer to one particular question, though. I’ve tried to locate a similar thread over the last few days but to no avail, so forgive me if this has been asked before (but if you could link me to it, that would be much appreciated).
My query is in regards to the Bet365 Deposit Bonus. I get the Free Bet concept, however what’s not clear is how to extract profit from a bonus that requires a rollover (3x in this instance).
My current logic is as follows; If I were to back bet £50 on Athletico Madrid @ 2.05 and lay £50.25 at 2.06, I would have a qualifying loss of £0.76. This is using the ‘Qualifying Bet’ in the calculator. However, due to the 100% Deposit Bonus, am I correct in thinking this is only actually a £25 bet? Ignoring rollover requirements, If I were to bet £400 it would make sense as I would be guaranteed c. £390, less my initial £200 stake. This is a profit of £190 or c. 95%, however this seems too high which leads me to think I’m not accounting for something?
Or is this simply just treated as a ‘Free Bet’ using the calculator?
And in order to meet the rollover requirements, I would need to keep profits in my Bet365 account, until such time that I can withdraw the full amount?
Would appreciate some clarification as I’m going round in circles a bit.
Thanks
+0February 24, 2016 at 3:59 pm
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New to matched betting?
My Matched Betting Academy is the best place to get started. Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
I have only one piece of advice…
Don’t touch the Bet365 offer until you’ve done all the others and some… I’ve been doing matched betting on and off for 8 years and consistently for the last 3 months. I still haven’t done the Bet365 offer because it’s too high a rollover for me to be caught out.
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I think with this offer its real money so your thinking is correct. Once wagering requirements are complete everything in there is yours. It isn’t a free bet where the stake isn’t returned.
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R2ddont. I wish I hadn’t done it years ago I think it’d be a doddle now providing there’s enough float in the exchange. Odds as mentioned of 2.05 and 2.06 are ideal. Only thing to note and not sure it applies to this offer is some bookies only let you put a certain amount on per market so you maybe wouldn’t get the full £400 on in one go.
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Hi, and welcome 🙂
No, your £50 example bet on Athletico is still a real £50 bet, not a £25 bet.
The Bet365 offer is a simple “matched deposit” affair, whereby they will “give” you a bonus fund. In order to be able to actually withdraw that bonus fund you need to wager through 3 times your deposit + bonus amount (note it is BOTH added together, not just the bonus amount OR the deposit)
You want to employ normal MB strategy to find close matches in order to meet the WR requirements. Some people will advocate the use of underlaying on these kinds of offers as well – there are other thread on here about that already – search for any thread about the NetBet sign up offers)
Clearly you ideally want to “lose” the entire Bet 365 balance (i.e. your cash and the bonus) in to the exchange – that way the offer is over and you have extracted the profit. However, if you find that you start winning your bets on Bet365 you will effectively have your own money tied up, which cannot be withdrawn until you have completed the WR, otherwise you forfeit any bonus funds.
This means that you need to have a sufficiently large MB float in order to keep funding your Exchange account in order to be able to lay the bets needed to meet the WR. If you have a big enough float (£2k at least is advisable) then go for it, otherwise wait until you do to tackle this offer (and others like it).
Hope that helps, I am sure others will be along soon to offer other advice 🙂
+0This is useful, thank you.
I unfortunately have already signed up for the offer (the full £200), but aware of the £1.2k rollover. I decided not to lose it all to the exchange as I read a comment on here saying it’s better to actually keep! As a result, I am committed as placed a bet on Barca last night (£90 to the good, though).
Where I get confused is the fact that it’s a £50 but, but in effect has only cost £25 (as I can place 8 such bets for the £200 I deposited). So the best bet is just to keep placing c. £50 bets until I have placed £1.2k, feeding the account through losses on the exchange? Liquidity isn’t an issue.
My current balance is £490 as a result of last night, with that single bet on Barca win being my only activity (plus a risk-free in-play bet of draw which has been refunded). What would happen if I were to withdraw the current maximum of £290? Would my balance drop to nil (i.e. I lose the bonus deposit)? Or can I still lose £490 to the exchange, and advisable to do so?
+0The rollover does seem daunting but with minimum odds of 1.50 counting towards it. The fact it’s real money means you don’t have to worry about backing higher odds and creating big liabilities.
90 days is a long time to complete it too.
+0“I decided not to lose it all to the exchange as I read a comment on here saying it’s better to actually keep!”
Since you have no control over the bets winning or losing i’m interested to know how 🙂
And you should always keep your fingers crossed the bet loses at the bookies. The more you win with a bookie the shorter the account life will be.No, you can’t withdraw anything until you finish wagering (you will lose everything you’ve won with the bonus money and exchange liabilities for those winning bets if you do).
I wouldn’t be afraid to bet higher amounts per bet (£100, £200) if the odds are good. It’s one of the biggest bookies in the world, it won’t look unusual.
+0Sorry, I should have specified the ‘intention to’ lose to the exchange.
So is it possible to have your account restricted even before you meet the rollover requirements? Should I be aiming to (noted that I don’t have control) win an equal amount on the exchange as I am Bet365? That way I will be exposing myself to minimal qualifying losses but won’t be winning at the expense of Bet365 all the time.
EDIT: and underlay the back bets I make at Bet365 which I think have a likely outcome (i.e. Barcelona winning last night, which I didn’t lay at all)
And what are considered good odds? I was thinking odds of c. 2 when any other outcome is priced at c. 4 is good? (N.B. currently sticking to football Match Winners, as it’s the only thing I really know anything about!)
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What if Barcelona hadnt won though? Youd have lost 1/4 of your bonus but would still have had to do the £1200 rollover. Losing to the exchange is always best but if you can limit qualifying losses like you said on the Athletico game then thats no bad thing. Personally id back and lay teams as close to the minimum as possible and hope some of them didnt win then you limit your exposure. A couple of 5 or 6 to 1 winners would not be good at all.
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Personally, I wouldn’t go near the horses with this one unless you have a HUGE float. One 7/1 winner will most likely transfer everything you have to the bookie out of your exchange, and will probably shorten the life of your account as well.
I did this offer a couple of months ago and it was pretty straightforward, just back and lay as normal (normal bet, not SNR) on tight odds around 1.8 – 2.2ish and you’ll either lose to the exchange or win at the bookie but get through the wagering. it can be daunting, but a few £200 bets on the “big” football at the weekend will see you through (for example, its Man U v Arsenal on sunday, a book this size wouldn’t bat an eyelid to a £200 on a game like that)
MOST IMPORTANTLY – TAKE YOUR TIME! If you can’t find any good odds, come back tomorrow. Or the next day. Or the next. 90 days is 3 months to get through this, and with patience and good odds selection you’ll get out with around £190.
Good luck.+0
What I’m not sure whether you get, and please forgive me if I am wrong, is that ideally you DO want to lose the entire Bet365 balance (your money AND their bonus funds) into the exchange. This is the quickest way to complete this offer (and will “look good” from the bookie’s point of view)
I would definitely not advise you to gamble anymore of it though – not laying Barca was risky! Don’t be results oriented and think that just because it paid off its something to repeat. The fact that you have come to a match betting forum leads me to believe you are seeking match betting advice, not gambling advice 🙂
Like others have said, get a few £100 or £200 stakes on the mainstream footy games this weekend (provided the odds are close enough) and you will be finished in no time, not that you need to rush with 3 months to get through the WR.
Any withdrawal made before completing the WR will see you lose the bonus funds.
Good luck
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I messed things up with my NetBet 100% deposit bonus, after my bets kept on winning and I had no more money in my exchange to cover the losses. I ended up withdrawing my money and forfeiting my bonus.
I’ll second the advice above re not betting on the horses as one big win at the bookie knackers your exchange float.
One thought I did have though, was if you’re stuck for exchange cash why not just dutch your balance all on the same match, ie back both teams and a draw. I’ve had a quick look and it doesn’t seem to go against any of the T+Cs and also returns around 95%. That way you can quickly turn the money over and it all stays in your account nice and tidy.
I guess the risk is that if they look at your betting it may be suspicious!
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Yes. No rush with this one. You have 90 days or so. If you are doing some of the horses offers and the football bet 50 get 50 offer then I assume they count towards your rollover.
I would just do those offers for a couple of months – build up a profit on some of the easier sign ups for a couple of months.
Stop and see what rollover required is left and by then you should have a bigger float to achieve it.
+0If you’re serious about matched betting I would argue you don’t need to do anything. Just bet as you normally would, do the football offer, do the horses offer and just treat the bonus as real money.
If you’re worried about putting £50 on a 7/1 horse you can always just drop your stakes to £10, £20 etc. But if you’re balking at potentially losing you’re exchange balance as previous posters have said you probably shouldn’t have done this offer yet.
My missus has just signed up and I entered the £200 bonus into my spreadsheet as cash and just bet as usual, the losses I make on matching bets I attribute to either the specific offer i am doing or mug betting.
Again you’ve got 90 days so if you do £10 on both feature races on a week day, £10 on a few midweek footy matches and all of the feature races and a few £10 footy bets on a weekend you’d clear the wagering requirements in 6 weeks, plenty of time.
I wouldn’t Dutch on all outcomes on bet365, yes they’re possibly not too bothered about people doing it when the football offer is on but if you did it to clear your bonus balance they would likely have something to say!
+0Don’t be daunted by the wagering requirement, £1200 on a £200 bonus is pretty good compared to others-Bet On Brazil for instance have a deposit £50 get £50 bonus offer. the wagering requiremeng is cash+bonusX15 that’s £1500 for a £50 bonus. Another bookie (i think it’s Betway) have a clause that even if you lose your initial deposit and bonus you still have wagering to complete on subsequent deposits before you can withdraw. So by comparison the Bet 365 offer is pretty fair.
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