Quick question.

kowloon

Upfront, I know nothing about betting so this is quite likely a stupid question, if it is, by all means delete the thread.

So my question:

Are you allowed to bet on all three outcomes of a match?
If I were to bet on Home, Away and Draw on the same match could I offset the bookies premium, maybe 5-10% or so, with the free bet you get for setting up an account? Would I therefore have, in effect, a guaranteed return of my money in and a profit if my free bet goes on the correct outcome?
This is just something that came up the other night when a mate mentioned he got a free 25 quid bet on opening an account and I was wondering if you could get some of that 'free' 25 back in hand.

abouttobebanned

of course you are, but remember, you are only allowed to keep the profit from the bet, so how would you intend to make said profit.

kowloon

If you put in, say €100 split between the 3 outcome so that 2 of the outcomes, if either are winners, will return your initial €100 then you can fire the rest onto what you would have bet for (as a regular bet) and also throw on your free £25. If your team comes up you would profit, if either of the other two outcomes are the result you get back your money as a consolation.

So looking at Man U vs. Liverpool, odds on first website I checked were Home, Draw and Away of 1.9, 3.3 and 4.33 respectively.

So, with €100 as a nice round figure, if I put €53 and €31 on the first two I have €16 + the €25 free bet to throw on Liverpool which works out as
4.33(16+25) = €177.53, [152.53 if you don't get back the 'original' 5 of the free bet].

Am I missing something here? Like I say, I don't understand betting.

abouttobebanned

Ok, so you'll be spending 100 of your own money to get a €25 euro free bet

outcome one profit - 47.50 + 53 = 100.50
outcome two profit - 71.30 + 31 = 102.30
outcome three profit - 136.53

So if the man utd win, you'll come away with .50cent...but if this bet is done on betfair than you have 5% commision so you'll actually only make 95.47

get me?

kowloon

So even more would have to be distributed to cover commission.
Adding the 5% on to break even, it works out as a profit of €16 on Liverpool (to use the same example). Not exactly worth the hassle .

abouttobebanned

Not really..there are a lot better ways to guarantee profits from free bets to be honest.

ask a question on this forum - www.letsbet.ie/forum I'm a relatively new member over there but I have to admit they go to some lengths to help people

TomD101

Backing 3 outcomes and offsetting the overround will generally only work if there is a money back special and a corresponding market on betfair.

What you should do to turn your 25 bet into currency is back outcome a in bookies, lay outcome a on betfair (where the lay price is the same as the back price incl commission). You are then guaranteed your 25

dioltas

Google "matched betting".

thedini

It is the easiest way to accumulate a 'betting bank'. Don't mind this 3 outcomes business, setup an account with a betting exchange. Back 1 result in the bookie with the free bet and lay it on the exchange. There are 100's of bookies that give free bets and it is the easiest way to 'win' a lot for free.