Now we have made our qualifying bet and lose around 10p. We now have access to the juicy free bets. This time around, the bookmaker is paying for half of the matched bet for us (the £5 back bet at coral), we only use our cash for the lay bet.
For example, Coral are offering us a £20 free bet (4x£5 free bets), so using the yesbets integrated OddsMatcher we can see there are a number of events here that will net us up to £4.58 per £5 free bet (£20 free bets = £18.32 profit)
If we take the “Benfica” example, using the free bet if the bookmaker wins we win £4.20 and if the exchange wins (lay bet wins) we make £4.20.
Place Back Bet (using £5 free bet)
So I’ll first go and place my bet at Coral
Place Lay Bet
Now let’s go to betfair and lay the event
Now this means, if “Benfica” win, we’ll win £55 in my Coral account and lose £50.80 (the liability) in my betfair account, leaving me with a £4.20 profit
But if “Benfica” lose, I’ll win £4.20 (the lay stake) at the exchange, but we won’’t lose anything in the Coral account as that was placed with bonus funds (free bet) not cash, leaving me with 4.20 profit once Betfair has taken their commission (paid on winning lay bets)
To summarise, you will make at least £4.20 per £5 free bet no matter what happens. As Coral provide us with four £5 free bets, we can either place them on exactly the same event or look for alternative matches using the Oddsmatcher.