- Nov 29, 2004
- 36,217
- 115,041
I'm probably late to the party, but I signed up to this tonight.
My problem is I appear to have existing accounts with most of the well known bookies (which I must have set up years ago), so there is a distinct lack of new customer offers available. Still had £10 with Skybet and placed an initial bet of £10 on BetFred to hopefully qualify for their free bet offer of £30.
I 'think' I stand to win about £6.20/£6.75 from my Skybet (depending what comes in) and either gain a MASSIVE £0.05 or lose £0.46 on the Betfred bet, but I appreciate you're taking the initial hit to get the free bet.
I'm sure as I get more confident and start doing more things will get easier. I'll then have the 'free' £30 with BetFred to play with of course.
One thing I wasn't aware of is the whole funding the liability on the exchange. Whilst the exchange is funded and the money is in the bookmaker accounts it actually feels like I'm out of pocket...
On my 2 bets I had to fund the exchange £35 and I've paid £10 on the Betfred, so currently £45 'down', but this time tomorrow I'll be about £6 up! Woot woot... At least I think that is right.
Does anyone have any tips on how to get the better returns? Doing this for £6 a pop seems like it'll be a loooong time before I start getting into the sort of profit some people have mentioned. What should I be looking out for one the oddsmatcher? Is it just a question of placing larger stakes? If I do that though, won't the liability on the exchange grow massively, or is it a case of softly softly to start with?
With the new customer offers you just wanna bet the amount you need to in order to qualify for the free bet. Like the betfred one, when you get the 30 quid free bet you should be looking to get 21-24 quid from that, depending on the match you're able to get.
The higher the odds the more retention you get, for example if you get a 4.0 back bet and 4.2 lay bet, you will get a lower return than if you get a 8.0 back bet and 8.2 lay bet match.
You should look to try and get 70-80% from the free bet amount.
For qualifying bets, good matches start from about £1-£1.50 loss per £25 bet. So if you're looking to place a qualifying bet and if the bet you're making is £25 and the calculator says you will lose £3 no matter the outcome then find a better match.
The new customer offers are the most basic of offers and if you had a lot to do you can build up a small bank.
My advice will be to do as many as you can and go to the PS forum for help and guidance and check the calendar for daily offers. The guys on the site are very helpful and will be more than happy to help should you have any questions.