Lesson 1: Qualify For A Free Bet

How to trigger the release of a free bet!

Let's consider backing Chelsea to beat Arsenal at odds of 1.5 (1/2) with a £10 stake on a traditional bookmaker, and simultaneously laying Chelsea on a betting exchange at odds of 1.53.

Here's how you would cover both outcomes and calculate potential losses:

1. Backing Chelsea at 1.5 (Bookmaker):

   • Back Stake: £10

   • Odds: 1.5

   If Chelsea wins, your profit would be calculated as:

   Profit = (Back Stake × Odds) − Back Stake

   (£10 × 1.5) − £10 = £5 Profit

   If Chelsea do not win (draw or Arsenal wins), you would lose your £10 back stake and instead win your lay stake of £9.80 (as seen in the above image).

2. Laying Chelsea at 1.53 (Betting Exchange):

   • Lay Stake: To calculate the lay stake, you can use a matched betting calculator (image above). The lay stake would ensure that, regardless of the outcome, you would lose a small amount, ideally under £0.50 (this is a typical qualifying loss).

   Let's assume the lay stake is £9.80:

   If Chelsea wins, your loss would be: £0.19. Because you will make £5 profit with the bookmaker, but have to pay out a liability of £5.19 on the exchange.

   If Chelsea does not win (Draw/Arsenal win), you loss would be: £0.20. Because you will lose your £10 stake with the bookmaker, but win your £9.80 stake with the exchange.

In matched betting, the concept is to incur a small qualifying loss when securing a free bet or bonus, and then use that free bet to generate a guaranteed profit. The qualifying loss is a small price to pay for unlocking the potential value of free bets or promotions.

Please note that the actual lay stake may vary based on current odds and market conditions. It's recommended to use a matched betting calculator to ensure accurate calculations and to account for any changes in odds or commission rates.