Saturday night’s Champions League final between Bayern Munich and Borussia Dortmund seen a nice risk free £33.25 made by using the £50.00 Bet365 free bet for existing customers.
In the end I chose to use the matched betting method to cash in the bet. As opposed to just having a risk free, free bet – as described in previous post.
For anybody interested, this is what I did. To start with I backed Bayern Munich with Bet365 for £50.00 at 1.75, giving me a return of £87.50. I then placed a lay bet of £50.00 on Bayern with Betfair, which after commission would have given me a £47.50 win (after commission), or a £40.00 loss.
This meant I paid out £90.00 on my qualifying bet, and was guaranteed £87.50 back. Resulting in a loss of £2.50.
Without wishing to overcomplicate things for people not familiar with this process, you rarely get all your money back with a qualifying bet due to Betfair commission (you pay commission on all winnings), and the fact that Betfair’s lay odds are generally higher than the back price with the bookmaker.
What it boils down to, is that I basically bought a £50.00 free bet for £2.50. And that’s good value in my book.
Going back to the qualifying bet, and I missed the 1.8 (4/5) available all Saturday morning on Bet365 for Bayern, and ended up having to take 1.75. I was a bit annoyed when I checked back that evening to see the 1.8 was back, but never mind.
The reason why getting the 1.8 available on Bayern would have been all the better, was because that was their back price on Betfair most of the day, meaning I could have placed my qualifying bet with minimum loss (less than the £2.50 I did lose).
Onto the free bet now. I waited until half time and had a look at the markets to see if anything was in the price range I was looking for. Over 2.5 goals was 3.75 to back with Bet365, and remarkably – was the same price to lay on Betfair.
So I quickly put the £50.00 free bet on with Bet365 @ 3.75. This meant I stood to win £137.50 with Bet365 (not including my £50.00 stake).
I then placed my lay bet of Over 2.5 goals on Betfair. I put £37.00 up at 3.75, this gave me a £101.75 loss, or a £35.15 win after commission.
So if Over 2.5 goals won I got back £187.50 from Bet365. £137.50 in winnings, and my £50.00 stake. Take away the £101.75 loss on Betfair from my £137.50 win with Bet365, and that meant a potential profit of £35.75 on my free bet.
If Over 2.5 goals lost, I would get my £50.00 stake back from Bet365, and I would win £35.15 (after commission) on Betfair. So I stood to win over £35.00 either way.
In the end, Over 2.5 goals won, which meant I got £35.75 back. After I took the £2.50 (from the qualifying bet) off, I was left with a risk free profit of £33.25
In one respect it was a bad result though, as both of the bets placed with Bet365 won. In an ideal world the two bets placed with Bet365 would have lost. This would have kept Bet365 happy, and it would have kept my betting bank in Betfair – where I need it for my general football trading.
As well as offering these £50.00 free bets to existing customers on a regular basis, Bet365 also offer new customers up to £200.00 in free bets. To open a Bet365 and claim these, please click here….
If you wish to open a Betfair account for matched betting, or/and football trading, please click here….