I've touched on this a few times in party chats but I think it's time I do it properly so that those of you who want to make a few extra bucks can.
First of all, is this some kind of scam, pyramid scheme, snake oil bullshit? No. It's a 100% legit, legal way of making a few extra monies on the side.
What about the bookies then? Bookies hate us. With a passion. If they sniff us out, they'll "gub" us which means they restrict us to small bets and remove all promotions from our account. To prevent this from happening, we place "mug bets", but this is a whole different discussion.
So what is it then? It's abusing booky offers to extract money out of them, or other bettors.
Here's a simple breakdown:
Bookie A is offering promotion where you get a free bet matching your first free bet up to £25.
The aim is to get that free bet and extract the value from it. To do this, we need to "cancel out" the first bet, and this is done by laying the bet. For this you go to an exchange like Betfair, where you effectively take on the role of the bookie. You then place a bet at Bookie A for an event, let's say Man U to win tonight's game. Then on the exchange you bet against Man U winning (note, you don't bet on a draw or on Bmouth to win, you bet that Man U won't win, there's a difference). If you manage to find odds that are close (by looking at various events and stuff) then you lose the small difference between the odds and the commission at the exchange. This will be no more than £1 if done correctly.
Once the game is played, you will have the £25 + winnings in either the exchange or the bookie, but now you have a free £25 bet. Using online resources and calculators (all of which are free) you then find a decent match between sports, and input the numbers you are presented with at the bookie and the exchange, and it'll spit out the number you need to put on the exchange.
Wait until the match is played, and voila. You will get about £17 from that bet if done correctly (you can pull as much as £23-£24 out of the free bet but this requires MASSIVE bankrolls at the exchange).
For those of you still in doubt, I signed up to Yesbets today (£15 a month) and this is my current situation:
This is with a £160 bankroll.
I'll update this now and then to show my progress but in the mean time if anyone has any questions, fire away, and if you want to do this, drop me a PM because I love referral bonusses and will go 50/50 for all referrals I get.
Also, if you do decide to give this a go, make sure you use topcashback as much as possible as you can get some decent little earners out of there too.
What I will say is don't go rushing in because you'll make mistakes and it'll cost you money. If you like the look of this, sign up to Yesbets and do the first few offers for free. Also, if you do decide to do this, LET ME KNOW so I can give you a referral. If the bookie gives out a referral bonus, I will give you 50% of it.