Right I'm going to run through an example, exactly from the start. Some people are still struggling a bit so maybe if they see it written down all the way through and can check it they might get it.
Right, my starting amount is £125, no more no less, nobody need worry about anythin and all sums and profits will be calculated from this.
Step 1
Sign up to
Quidco. Quidco is a referral site that will allow you to earn cash for signing up to the bookies (see other posts for details).
Step 2
Going through Quidco to obtain their £25 referral, signup to Betfair and enter promotional code 6WYVMKTDH, this will get you £25 in your account. Deposit £100.
Step 3
Going through Quidco to obtain their £15 referral, signup to Betfred and deposit £25
Step 4
Using the
Bet Calculator, find odds on any upcoming football matches, preferably higher odds and the closer together.
e.g. Chivas USA are playing Colombus in the MLS tonight at 1am, odds 2 and 2.08 for Chivas to win at betfred and fair respectively, this bet will yield a loss 1.60, a 93% bet retention (remember you're lookin for >92%).
For this bet, you would bet £25 at betfred on Chivas, odds 2.00 and then
lay (if you dont know what layin is or or how to do it on betfair then I suggest you consult fundmydegree or there is a little animation on betfair that explains it) £24.63 on Chivas
not to win.
That would be your first bet.
If Chivas win, you will receive £50 at Betfred and pay out £51.23 at betfair, i.e. profit of -1.23.
If the game is a draw or Chivas lose, your 25 in Betfred will go, but you will collect £24.63 in Betfair, a profit of -37p.
Now your free bet should be sitting in your Betfred, we move on to:
Step 5
Using your free bet, find another match coming up soon, as you are now using your free bet and for Betfair this is SNR (Stake Not Returned) you should be looking for bets with high odds, preferably over 4 and as close as possible on betfair and betfred, if you're lucky enough to find one with higher odds on betfair than betfred then lucky you.
A realistic bet for this would be odds of around 4.3 on Betfred and 4.65 say on Betfair although it is quite likely with enough browsing you can find better odds. I've made these odds up because I dont have time to look for a bet right now, (I found you a qualifer!) so say these odds are on any game: Boro to beat United.
So, you would put your odds into the bet calculator, select Free Bet Stake Not Returned and this would tell you how to place your free bet:
place your £25 on betfred, making sure use my free bet/promo cash/bonus balance or whatever it says (at this point, only the freebet should be left in the account as you would have withdrawn any winnings before this).
Then, on betfair, you would
lay 17.93 for Boro
not to win.
So, if Boro win, you will collect 82.50 at Betfred (SNR so you wont retain the 25 you bet with) and pay out 83.40 on Betfair, i.e. a loss of 90p.
If United win/draw you will lose your free bet on Betfred, but collect £17.93 at Betfair.
Step 6
From your starting point of £125 you can calculate your winnings:
If you win at the bookies both times:
profit of -1.23 first bet, a profit of -90p second bet
If you win at Betfair both times:
profit of -37p first bet, a profit of -£7.07 second bet.
So this begs the Question, the one question you all want answering, if these are the profits your losing no matter what happens,
WHERE THE **** DOES ANY MONEY COME FROM????
Well, if you go back to point 1, you started with £125 to bet with, then from the calculations above, lost £2.13 on the 1st combination, and £7.44 on the second. But remember, you had £125 of your own money
AND 25 OF SOMEONE ELSE'S so your sums come from £150, not £125.
Combination 1, £150 - £2.13 = 147.87 a profit of £22.87
Combination 2, £150 - £7.44 = £142.56 a profit of £17.56
Obviously there are another 2 combinations of where you win/lose but thats just math.
Also from this it seems it is much better to win both times at the bookies, however in reality this means you have to switch money from the bookies back across to betfair etc. which can take days and slow you right down.
I hope this makes it clearer.
Also, remembering your referrals from the start, £25 for Betfair quidco, £25 for referral code in betfair and £15 for Betfred Quidco.
Thats another £65 on top of whatever you win.
