How to buy Money

finnpark

I have come across a simple trading technique that allows you to buy money from Bookmaker/Betfair.

A lot of bookmakers give free matched bets:

Example: Free £100 bet if you place a £100 bet.

So say you put £100 on Opera Comica in the 5.40pm at Wolves tody at 3/1 with the bookmaker. The bookie automatically gives you another £100 free. Put this £100 on the same horse at 3/1.

That is £200 on Opera Comica in 5.40pm at Wolv at 3/1.

Now, go to Betfair and lay it off for say £150 at 4.2. That is a liability of £480.

So if horse wins you are up £600 with the bookie, down £480 with Betfair giving you a nice £120 profit .

If the horse loses then you are down £100 with the bookie and up £150 with betfair giveiing you a £50 profit.

Either way not bad. Do this with 5 or 6 bookies and you could make your self 500 to 600 euro;)

digiman

Do you have any examples of bookmakers that are giving €100 when you put in €100? I can see exactly how it works and have often thought of these type of "scams" before.
On a side note when you are laying a horse on Betfair do you have to have enough money in your account to cover the lay, I presume you do?

wb

It does not work quite like that, as the stake on the 'free' bet is not returned if the horses win.

wb

digiman wrote:

On a side note when you are laying a horse on Betfair do you have to have enough money in your account to cover the lay, I presume you do?

Yep, If you laid a horse at 4.2 to €150, you would have to have enough in the account to cover the €480.00 liability

ErinGoBrath

Nice idea. One thing I can see that's questionable, I don't think it would be too easy to get lay on betfair with the odds so close to that of a bookies.

4.6-5 would be a more realistic price for a 3/1 don't you think? Still in profit I know but just thought I'd point this out

wb

It would not work because you dont get the stake back on the 'free bet' if the horse wins, so you can't count that 100

finnpark

wbailey wrote:

It does not work quite like that, as the stake on the 'free' bet is not returned if the horses win.

Theres always something.

Anyone see a way round this.?

wb

finnpark wrote:

Theres always something.

Anyone see a way round this.?

It can be done on the (very) rare ocasion that the bookies are offering better odds than are available on betfair. Back the horse with the bookie, and lay it off on betfair.

But as I say, it is quite rare and you would need an account with a few bookies, then check oddschecker for the best value on the back side, and also have a betfair and betdaq account to see which has the best value on the lay side.

Great if it works, but a lot of hassle

wb

I read in the 'Racing Post guide to betting exchanges' book that there are a few oppertunities to do this on greyhound B.A.G.S. because they are considered 'time fillers' for the bookies and they dont really pay too much attention to the prices.

I tried it for four hours one weekday, and only found two oppertunities to do it out of all the races, so im not so convinced.

eirebhoy

Betfred give you double the odds on your first bet (maximum win of £100) which would work out the same.

finnpark

eirebhoy wrote:

Betfred give you double the odds on your first bet (maximum win of £100) which would work out the same.

Nice one.

So say I back a soccer team for £100 at 1/2 to win I actually get evens. Then lay it off on Betfair for 1/2 for £100 so I will make £50 if they win or break even if they dont. Excellent if it works. Handy £50. All I need now is a 100 credit cards.

eirebhoy

finnpark wrote:

Nice one.

So say I back a soccer team for £100 at 1/2 to win I actually get evens. Then lay it off on Betfair for 1/2 for £100 so I will make £50 if they win or break even if they dont. Excellent if it works. Handy £50. All I need now is a 100 credit cards.

In the above example Betfred would only be given you an extra £50 so you might aswell put £200 on a 1/2 you'll get £400 back if it wins. That means you'll get about £80 risk free (taking into account Betfairs average of 20% better odds).

finnpark

eirebhoy wrote:

In the above example Betfred would only be given you an extra £50 so you might aswell put £200 on a 1/2 you'll get £400 back if it wins. That means you'll get about £80 risk free (taking into account Betfairs average of 20% better odds).

If you lay a 1/2 shot on Betfair you easily get it layed off at about 1.5 to 1.52. The favs are much closer to bookies price.