After a short break I'm back, and this time it's with Betfred. Betfred is a little different to most other bookmakers as in this case you only need to bet £10 to qualify for a much larger £30 free bet.
For the £10 qualifying bet I looked to the last day of the football season and settled on backing Burnley to beat West Ham. In doing this, I was actually able to find an event where the back and lay odds were the same, restricting any loss to just Betfair's commission.
- Back Burnley to win at 2.38 at Betfred.
- Lay Burnley to win at 2.38 at Betfair.
Referring to the matched betting spreadsheet, my calculated loss was £0.30 or 3%. Despite being underdogs, West Ham triumphed, so I lost my £10 initial deposit at Betfred, albeit I now had a £30 free bet, and gained £9.70 at Betfair. With the end of the football season, games are less frequent, but I was able to find some close matching odds on German football; Frankfurt v Borussia Dortmund. In addition, by finding high odds, the amount lost from the free bet stake being non-witdrawable is minimised.
- Back Frankfurt to win at 7.5 at Betfred.
- Lay Frankfurt to win at 7.6 at Betfair.
Using the matched betting calculator, my profit was £28.31 or 94%. As expected, Borussia Dortmund won, and that meant my profit was delivered by a winning the lay bet at Betfair, keeping Betfred happy in the process.
Overall, my combined profit was £28.01 (£28.31 - £0.30).
Bookmaker accounts: 2
Total profit: £62.25