Risk Free Bet Guide

Much like standard free bet offers, Risk free bets, are easy to convert into a nice little profit. Risk free bets offers allow you to place your first bet (upto a restricted ammount of £20 – £50) and if your bet loses the bookmaker will refund it back to your account,either as cash, a free bet or bonus.

Extracting our profit from risk free bets is simple and to do this we have two strategy options, which are described on the page below. 

Find Risk Free Bet Offers:

All the risk free bets for new customers can be located on the risk free bet offers page.

For this example we will use the Paddy Power £20 risk free bet offer.

Check the Offer T&C’s:

Before you dive in and start the offer it is always advisable to check the terms and conditions that apply to the offer. Each offer guide lists the important offer information. As the bookmakers can periodically change these terms it is always worth double checking before doing the offer.

The Paddy Power offer is pretty striaght forward. You can place your first bet risk free up to £20. There are no minimum odds requirements and there is no wagering requirement on any winnings.

 

Paddy Power Important Offer Information

  • Promo Code: YSKA01
  • Deposit: £20
  • Max Bet Stake: £10
  • Stake Returned: Yes
  • Minimum Odds: Any
  • Free Bets: £10 stake refunded  as cash (if bet loses) within 1 hour
  • Wagering Requiremants: N/A

Risk Free Bet Statergy:

For risk free bet offers we have a choice of two strategy options. Option one maximises our potential profit but is not guaranteed and option two removes the risk but offers a lower guaranteed return.

Unlike Free bet offers you want to place a bet at higher odds as we want the bet to lose in order to get our bet refunded. 

Option 1: Use Standard Free Bet Offer

Your first option is to simply treat this like a free bet offer. The only difference is that you want to place a qualifying bet at higher odds and hope that it loses in order to get the bet refunded.

If the bet loses then you can then repeat the process for the free bet and your profit is locked in. However if the bet loses you will take a small loss on your qualifying bet and you wont get a refund from PaddyPower.

If your qualifying bet loses then we simply repeat the process. Dont forget that the stake is returned so be sure to select the ‘Free Bet (SR)‘ option on the matched betting calcualtor.

In the example below I have ussed the same odds to show the profit difference between the strategy options.

As we can see our lay stake for the bet will be £19.67 and we will make a profit of £18.69.

Using option 1 we have made a profit of £17.38 on this offer (£18.69 minus our qualifying bet loss of £1.31)

Option 2: Guarenteed Profit

Option 2 requires you to use Oddsmonkey. Their calculator has more advanced features on their calculator allowing you to lock in a lower amount as a guaranteed profit as shown below. OddsMonkey also has other tools such as their oddsmatcher which you can use to quickly find your qualifying/free bet. 

In the example below I have assumed that I have found a bet where the odds are close on both the bookie (9.00) and the exchange (9.20).

You will need to enter the following information into their calculator:

  1. Back stake = £20
  2. Back odds = 9.00
  3. Lay odds = 9.20
  4. Lay Commission = 5% (Betfair)
  5. Refund amount = £20
  6. Expected profit % = 75%

Once I have entered in the information I can see that:

  1. My required lay stake is £18.03
  2. My profit of £12.13 regardless of the result.
  3. My liability on the exchange is £147.85

*Make sure you check you have enough cash in your exchange account to cover this before you place your bets.

 

As we can see our lay stake for the bet will be £19.67 and we will make a profit of £18.69.

Using option 1 we have made a profit of £17.38 on this offer (£18.69 minus our qualifying bet loss of £1.31)

Summary & Checklist:

As you can see ‘option 1’ can give us a better profit, however this profit is not guaranteed. Although we are placing bets at higher odds and therfore less likely outcomes we can still make a small loss if they lose. ‘Option 2’ on the other hand simply takes the risk out and offers you a lower but guaranteed profit.

 

Option 1:

 

  1. Aim for high odds using
  2. Ensure you select ‘Qualifying Bet‘ mode on matched betting calculator.
  3. If bet loses repeat the process this time selecting ‘Free Bet (SR)‘ on the matched betting calculator.
  4. Make sure you have enough money in your exchange account to cover the liability before you place your bets.

 

Option 2:

 

  1. Sign-up with Oddsmonkey. MBC members can get a 10 Day free trial.
  2. Find a bet opportunity with higher odds.
  3. Make sure you have enough money in your exchange account to cover the liability.

Risk Free Offers