Risk-Free Bet
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I completely understand matched betting but am having trouble getting my head around the risk free promotion. So please forgive me for asking alot here.
E.g. Superlenny.com is offering deposit £25, if your bet loses get £25 free bet.Does this mean that I have to matched bet it like anyother and its a 50/50 chance of me getting a free bet i can use. if I win at the bookies on my first bet it just cancels each bet out and I lose like 50p.
if someone could give me a quick walk through that would be great. Am trying to get my head round it and make a spreadsheet of all the different offers available and how much you can get off each one and which method to use.+0March 22, 2016 at 5:53 pm
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@Tomfromdablock when it’s risk free use the calculator on this site found on the toolbar on this website and if it’s risk free just click that and if Superlenny is saying that if your bet loses they will give you £25 free enter the £25 as cashback you would then effectively underlay your bet based on the lay stake the calulator tells you to lay. You would then make a profit from your first bet for odds of say 7 with a lay of 8 of £18.42 obviously try and get the odds as tight as possible
+0You get 25 free bet which is not the same as cash..
It’s worth about 20.
So do what Shaun says but put 20 in the box for cash back.
+0does any one know the formula the calculator uses for the risk free bets. I like to understand every angle and be able to get same results myself.
+0It calculates the lay stake required to extract a guaranteed return from the free bet. All other variables are known other than the lay stake… It should be easy to construct the equation to solve for it.
+0Tomfromdablock, I added a risk-free bet guide yesterday which you may find useful…
+0Let
a = Back Return
b = Cash Back
c = Lay Odd
d = Lay Commission in per unit formLay Stake = (a-b)/(c-d)
If we use the numbers provided in Matts example see the link he posted above then we get.
Lay Stake = (7.5*25)-20/(7.8-0.02)
Lay Stake = (187.5-20)/7.78
Lay Stake = 167.5/7.78
Lay Stake = £21.53
+0If it’s SuperLenny it’s worth a LOT less than £25 lol
Barely managed to squeeze £17.50 from a £25 free bet… The odds are horrendous!
+0Thanks Matt great new page, i had just about figured it out. Been sat around with monopoly money practicing. And dave jones thanks for the algebra
+0Just updated my risk-free bet guide if anyone is looking for help with them…
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