Urgent Help Required

Hi all, I decided to do the betsafe £20 free bet welcome offer as shown in the free bets offer section of this blog. I was under the impression that you deposit £10 and then place a real money bet of £10.00 at minimum odds of 4/5 (1.80) or greater and they’ll give you a £20.00 free bet to use on any sportsbook market. I did this, and laid at smarkets so I did the qualifying offer stage. I then won at smarkets and lost at betsafe and got my £20 free bet. I then wagered that £20 at odds of 1.50+ like it says in the T&C’s so like the normal strategy for free bets I found the highest odds I could (back 11 lay 13) and I won at betsafe and lost at smarkets so I now have £200 in betsafe and lost £180 in smarkets which makes sense. But now I can’t withdraw the money from betsafe? I noticed this in the T&C: “NET winnings (winnings minus stake) have to be wagered 1 time on odds 1.50”. But surely I already did that? Or does it mean the winnings from the free bet? I thought it was like ladbrokes where you get the free bet winnings and that’s it.

So now, should I do the free bet strategy again at the highest odds or lowest odds? I’ve tried reading the rollover explanation post on the forum but I don’t know how that applied to this particular bookie. This whole thing is a hell of a lot more time consuming and stressful than I thought it would be just for £15 haha.

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ReubenJB
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January 27, 2017 at 3:54 pm

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sleepless 8 January 27, 2017 at 4:37 pm

It’s a 1X Rollover.
FREE BET TERMS AND CONDITIONS:
Before you can withdraw the money or play in other products, NET winnings (winnings minus stake) have to be wagered 1 time on odds 1.50 or higher in our Sportsbook (Pre-Match or Live), within 7 days after having been credited. Otherwise they will be forfeited. Virtual sports doesn’t wager bonus money.

You’ve got 7 days so not urgent as long as you don’t need money.
Don’t matter (in theory) if short or long odds as long as you have enough £ in exchange to cover liability. Just make sure very close odds like 1.5/1.55 or 4/4.2. Better still, look for arb (exchange odds less than back odds)

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ReubenJB 0 January 27, 2017 at 6:38 pm

Okay I understand it now. However, when I put the next bet into the free bet calculator as a 200 back stake at whatever odds, now my profit is in the hundreds. How do I translate this back into the original £20 free bet? Just profit/200 = X and then do X x 20. So for example, if I have odds of 17.5 / 17.5 (found a match like that just need to wait for liquidity) and my profit comes out as £185. So that’s 92.5% so that means after all of this I’ll get 92.5% of the original £20 free bet which is 18.5 minus the small loss on the qualifying bet?

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sleepless 8 January 27, 2017 at 7:09 pm

You need to use the normal lay bet calculator for the £200. Also at 17 you need £3000+ in your exchange to cover liability. I don’t think you need to bet all £200 at once so check this with Betsafe

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deathstar 25 January 27, 2017 at 7:44 pm

also, you only need to bet at minimum odds now that you have used the free bet. don’t bet at 17s when you can bet at 2s, apart from not needing a massive float in the exchange, you will also be in a much better position if the bet wins.

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ReubenJB 0 January 27, 2017 at 9:46 pm

@sleepless So that would be the ‘Risk-Free Bet’ calculator on the site right? Wait but if the T&C’s say I have to wager net winnings 1 time on odds over 1.5 then that would mean I have no choice but to put on £180 right? As the free bet was £20 and odds of 10 and it won so now I have £200. So if I have to wager the whole net (winnings minus stake = 200 – 20 = 180) surely?

@deathstar That’s good to know, I totally get how I’ll need less float but I don’t get how I’ll be in a better position if it wins as surely I’ll only be extracting about 75-80% of the initial £20 no matter what? Unless I took a huge spread between back and lay of course.

Thanks a lot for the responses both of you, I really appreciate it. I don’t want to f this up and lose half a grand that’s why I’m asking so many questions haha!

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ReubenJB 0 January 27, 2017 at 10:23 pm

Ah wait I think I’ve cracked it. The calculators on this blog don’t work for this situation I don’t think but when using a standard lay bet calculator I found online, I get this when using a hypothetical situation of 1.6 to 1.65:

https://image.prntscr.com/image/267351dac96942468928edc6d4511979.png

Am I doing the right calculation now? And this would mean my profit from this entire thing would be the £20 free bet minus whatever I lose on this standard rollover trade which in this hypothetical case would be £6.85. So my profit would equal £20 free bet – £6.85 loss on standard lay bet for the once rollover – the initial £0.76p loss from the qualifying bet = £12.39.

Just went back through my bets and statements to make sure everything adds up and thankfully it does. This whole rollover things sends my head spinning when it really shouldn’t, I rushed into this too quick I think.

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feltt1p 5 January 27, 2017 at 10:31 pm

No, just use the ‘qualifying bet’ outcome. Then bet on something about 1.6/1.62, easy way to solve it.

Edit: Yeah the above will work

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ReubenJB 0 January 27, 2017 at 11:10 pm

Okay so my bet is placed. I contacted Betsafe and they said I need to wager the £200, so that cleared that up. So I placed the £200 on a match with nice tight odds, back 1.66 and lay 1.69. But now when I’m trying to make sense of the calculations on both sides I seem to be either losing a little bit of money if the back wins, or winning a shed load if the lay wins. If I win at Betsafe then that £200 winnings from the free bet turns to £332 so I can withdraw £332 to my bank, but then I would lose £335 on that same bet at smarkets, so in that case I’ve lost a few quid overall. But if I lose at Betsafe I’ll just lose my £200 free bet which wasn’t my money to begin with, but then I’ll win £335.97 at smarkets, and the stake of £198.80 for the lay came from my bank account so that winnings minus my initial lay stake = £137.17….

So now I seem to be either losing a few quid, or winning £137.17. If I’ve done this entire thing completely wrong, I seem to have done it wrong in a good way, I don’t mind risking £5 to make £137.

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ReubenJB 0 January 28, 2017 at 12:06 am

I just spent a very long time going back through everything, checking my bet statements and re calculating it all. I realised my mistake, I was assuming that at smarkets if your bet loses you lose your stake and the liability, and if it wins you win the stake and the liability, not sure why I was under that impression. I know what’s going on now and I figured out I’ll make about £15. This is the most difficult £15 I’ve ever bloody made haha but from now on I have a much better understanding. Thanks for the help, this thread can be locked or deleted by an admin or whatever.

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deathstar 25 January 28, 2017 at 6:06 am

glad you’ve got it straight in your head.

the point I was making is this: if you bet £200 @ 2 and it wins you get £400 in the bookies, if you bet £200 @17 and it wins you will get £3,400 in the bookie. that’s a lot of money out of your exchange.

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