If you are looking to make risk free money, then cashing in free bets using the matched betting method is a great way to do this. It is important when looking at opening an online bookmakers account that you fully understand the type of free bet you are receiving, as believe it or not, there are different types of free bets.
Matched Betting Systems
The two types of free bets available are a free matched bet, and a risk free bet. To briefly describe the difference, a free matched bet is a free bet you receive no matter what the outcome of your qualifying bet (the bet can win or lose), while a risk free bet is a free bet you receive only if your qualifying bet loses. It is possible to make risk free money from both types of bet, but you will make more from a free matched bet.
As well as knowing what type of free bet you are receiving, you will also need to know how much it is for, and you need to read the bookmakers terms and conditions. Some will stipulate that the qualifying bet has to be placed on an event with odds of Even money (2.00) or greater, some will say you have to place your qualifying bet within seven days of opening your new bookmakers account, etc, etc.
Every bookmaker is different, so for that reason, always make sure you know the minimum odds and the amount of time you have to place your bets in. As a general rule of thumb for a qualifying bet on a free matched bet, I would always use an event at odds of Even money, you should generally always be all right using these odds. I would wait for a high profile football, as that should ensure plenty of liquidity on Betfair (you can use other betting exchanges), allowing me to comfortably lay my qualifying bet. I would also wait until the say of the match to open my account, to allow me the maximum amount of time to use my free bet. It’s pointless opening an account a week before you place your qualifying bet, if you only have a week to complete the process (claiming and using the free bet).
The majority of the free bets that are available on the Bonus Bagging service are free matched bets, while on Profit Maximiser there is a combination of both. There are also free bets listed on this site that aren’t on either of Bonus Bagging and Profit Maximiser.
Cashing in free bets is something you can do yourself. The advantage of joining either Bonus Bagging or Profit Maximiser is that you will get access to the Bonus Bagging Calculator, which works out the precise amount of money you need to stake for both your qualifying and free bets. This applies to both the risk free bets and the free matched bets.
As well as the calculator, with Profit Maximiser you will be able to view Mike Cruickshank‘s videos, showing you how to place your qualifying bets, and how to cash in the free bets, and complete the whole process making the maximum amount of risk free money possible.
The free bets you get for existing customers, are also known as reload offers, and are mainly available on horse racing and football.
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