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RE: Matched Betting - The Mathematical Way to Beat the Bookies
i don't get why the free bet makes the money, if you go 50 on win and 50 on loss to convert to free bets nothing has changed, you still have 50 you deposited in each, except now you wasted your buffer by fishing out the free bet for no reason, at least that's what it sounds like.. does the 50 free bet stack on top of the one you win? so you have 100 and 50 after?
An excellent question and thank you to Leakim for helping with the answer. You have to think of it as 2 steps. First you deposit £50 into Ladbrokes and £50 into Betfair. Step 1 - You place a bet on let's say Man U to win their Wednesday match on Ladbrokes and you place the bet on Man U not to win on Betfair. Once the bet has been settled, you will have lost £50 in one bookie but won £50 in the other so you are level overall. Step 2 - You have a free bet and you carry out the same process again but placing the bets of an entirely unrelated match that occurs on Saturday. Does this make a bit more sense?
If i understand correctly, the bet that you lost with, where you still have the 50$ left, is used to "back" either win or loss on the next bet with a different site where you have another free bet.
I used to sign up on all the internet casinos and play through the free spins and cash out whatever i had left after the wagering requirement was met, some easy quick cash as well.