Step 3: Your Qualifying Bet
Check Offer T&C’s:
Before we get stuck in you need to make sure that you check the offer Terms & Conditions. The user guides provided will highlight the relevant terms for the new customer offers. It is always advisable to double check the T&C’s on the bookmakers site, as these are subject to change.
Below you can see the important T&C’s for the Coral offer.
Coral Offer Information
- Deposit: £5
- Qualifying Bet: £5
- Stake Returned: No
- Minimum Odds: 1.5
- Free Bets: 4x £5 free bets
- Expiry: Must be used within 7 days
From the information above you can see that you need to do the following to qualify for our free bets:
- Deposit a minimum of £5
- Place a bet with a minimum stake of £5
- Your bet must be placed on an event with minimum odds of 1.5
Once you have satisfied the qualifying bet requirements:
- Your free bets will be credited once you have made your first qualifying bet.
- Free bets will be credited as 4x £5 free bets
- Your free bets must be used within 7 days
Select Your Qualifying Bet:
Before you search for your qualifying bet make sure you have logged into your Coral and Smarkets account so you can quickly check the back and lay odds for your bet.
For your qualifying bet you want to look for games with low odds that are reasonably close together. Football is the best sport to pick for these types of bets.
Try and do the offers either mid-week or at the weekends when there are plenty of games happening to give yourself the best chance of finding a good bet.
Example Bet: Fulham v Barnsley and have a good odds match of 1.57 to win on Coral and a lay odds of 1.59 on the Smarkets exchange.
To find my bets I use OddsMonkey’s Oddsmatcher tool as it allows me to locate bets quickly. OddsMonkey is a monthly pay for service but well worth it to get through the offers quickly.
Calculate Lay Stake:
Before we can place our bets you need to calculate what your lay bet should be on the Smarkets exchange. To do this we use the matched betting calculator and enter the information as follows:
- Bet Mode: Make sure you select ‘Qualifying Bet‘ mode
- Back Stake: £5 (minimum bet stake for the Coral offer)
- Back Odds: 1.57 (Fulham WIN odds on Coral)
- Lay Odds: 1.59 (Fulham Lay odds on Smarkets
- Lay Commission: 2% (Smarkets)
The calculator will then work out our optimal lay stake to minimise our qualifying loss.
As we can see in this case our required lay stake is £5 and we will make a small qualifying loss of £0.10.
Place Your Bets:
First you need to place your £5 bet on Fulham to win with Coral. Simply select the the Fulham win odds as shown below (1.57).
Once we have selected our bet we need to enter our £5 bet stake into the bet slip at the top of the page and click ‘PLACE BET‘.
Next we need to place our lay bet on the Smarkets betting exchange.
First you will need to navigate to the game in the Smarkets site. Once you have found it you need to select the lay odds for Fulham (1.59).
Lay odds on Smarkets are displayed on the right in blue.
When you click on the odds you will need to enter your back stake. For this bet the matched betting calculator tells us we need to lay £5.
Enter you £5 stake into the box marked ‘BACK STAKE’ and click ‘PLACE BET’
As you can see from the bet outcome box below you have covered all the outcomes and made a small qualifying loss of £0.10.
Now you can move onto turning your free bets into a nice profit.
Go to Previous Step
Go to Next Step