First Post (Could be in the wrong forum?)

[The Tott]

Welcome mate. Could you explain those bookie beating secrets in simpler forms? I cant read long messages!!

[TheFlatIron]

Welcome mate. Could you explain those bookie beating secrets in simpler forms? I cant read long messages!!

 

In a nutshell:

 

Online bookmaker offers you a free bet as an introductory offer if you sign up and bet X amount of your own money first (say, bet £100 to get a £50 free bet).

 

You bet £100 on liverpool to win at the bookmakers at evens, you lay £100 against liverpool to win at a betting exchange again at evens. (laying is betting that something will NOT happen, so laying liverpool to win is betting that liverpool will not win).

 

Two possible outcomes:

 

Liverpool win:

 

You WIN at the bookmaker (+£100 profit)

You LOSE at the betting exchange (-£100 loss)

 

net = £0

 

Liverpool do not win:

 

You LOSE at the bookmaker (-£100 loss)

You WIN at the betting exchange (+£100 profit)

 

net = £0

 

Either way, one of your bets wins, the other loses. The system is designed so that you do not lose anything (or only a very small amount) of your own money in order to qualify for the free bet. Once you've done the 'qualifying bet', you are now entitled to the free bet; repeat the same process with your £50 freebet:

 

Liverpool win:

 

You WIN at the bookmaker (+£100 profit)

You LOSE at the betting exchange (-£50 loss)

 

net = £50

 

Liverpool do not win:

 

You LOSE at the bookmaker (-£0 loss)

You WIN at the betting exchange (+£50 profit)

 

net = £50

 

 

You make a profit here because in the first case (liverpool win), you get the £50 winnings from your free bet plus the £50 free bet stake back (total = £100) - this gives a profit of £50 after the loss at the betting exchange is taken into account. In the second case, your loss at the bookmaker is £0 because you lose a free bet that did not cost you anything - hence giving a £50 profit either way.

 

 

NB - This is the first kind of free bets, where the Stake is Returned (SR). Many bookmakers offer free bets that are Stake Non Returned (SNR) - these are more advanced, so when I'm explaining how this works I always start with the easier SR case.

 

 

Hopefully that's a decent explanation to begin with.

[Spy Bee]

Would you like to speculate what the findings from the large hadron collider will be?

[TheFlatIron]

Would you like to speculate what the findings from the large hadron collider will be?

 

most likely inconclusive, as Popper said;

 

'The game of science is, in principle, without end. . . . .'

[G Richards]

Welcome FlatIron. Occasionally we have some good metaphysical discussions on the GF and I'm sure you will add a lot to them if you stumble across one.

 

What are you hoping to do when you graduate?

[Thants]

Welcome John, I look forward to getting confused reading your posts in the future. The GF needs a new acorn, pop your head in there.

[Bourbon]

Hi John, welcome mate.