Quick/ stupid question

[adam3811]

Hey, I was looking at ladbrokes £10 free bet and wondered if it was possible for me to bet on all three outcomes of a game (eg. TOT, draw or MAN C) say £7 on each..
Odds on would mean i would at least get 16.80 back at current odds putting me a fiver up.

Is there anything stopping me doing this?

Thanks
Adam

 

[Yorkshire Blue]

Hey, I was looking at ladbrokes £10 free bet and wondered if it was possible for me to bet on all three outcomes of a game (eg. TOT, draw or MAN C) say £7 on each..
Odds on would mean i would at least get 16.80 back at current odds putting me a fiver up.

Is there anything stopping me doing this?

Thanks
Adam

You're on the right lines, but what you need to do is pick one and then lay that bet at Betfair.



eg Bet £10 at Ladbrokes on Team A to win at 2-1.

Then you lay Team A on Betfair £5 at 2 (ideally you find something less than 2 - this is known as an arbitrage - but its more likely to be something like 2.2 instead).

If Team A wins, you win £20 at Ladbrokes but lose £10 at betfair = £10 profit
If Team draws or loses, you lose £10 at Ladbrokes, but this is refunded, whilst winning £5 at Betfair

You may want to play about with the amount you lay, so that you get back the same amount either way.

 

[adam3811]

Ah I can see now that the terms include 'stake not returned on winning free bets'. I wondered how that could happen.

Do you know how online winnings are claimed too, as I can't seem to find anything on them!
If you win, can you claim the money and then 'run' so to say? Or are you never able to withdraw all monies from the account?

Excuse my amateur ways, I appreciate the advice!

 

[Yorkshire Blue]

Ah I can see now that the terms include 'stake not returned on winning free bets'. I wondered how that could happen.

Do you know how online winnings are claimed too, as I can't seem to find anything on them!
If you win, can you claim the money and then 'run' so to say? Or are you never able to withdraw all monies from the account?

Excuse my amateur ways, I appreciate the advice!

Normally winning are normally automatically credited to your betting account pretty much straight away, you can then withdraw them and they get transferred back to the bank account you used to credit them in the first place.

There might be additional requirements in the special offer's T&Cs restricting when you can withdraw and sometimes you may have to prove your identity for anti-money-laundering purposes. Uncle Leo should know more.

 

[Uncle Leo]

Ah I can see now that the terms include 'stake not returned on winning free bets'. I wondered how that could happen.

Do you know how online winnings are claimed too, as I can't seem to find anything on them!
If you win, can you claim the money and then 'run' so to say? Or are you never able to withdraw all monies from the account?

Excuse my amateur ways, I appreciate the advice!

YB is pretty much right. Example - you open an account and deposit £10. You place that £10 on an even money chance and it wins, meaning you now have £20 'real' money and a £10 free bet, which is non-withdrawable.

Let's say you then put your free bet on another even money chance, which also wins. You get the £10 winnings from that, but not the £10 stake.

So, now you have £30 in your account which you are free to withdraw and, if you choose, you need never come back. As a Ladbrokes employee I wouldn't necessarily advocate doing that of course, but good happy ounting whatever!

 

[Grayson]

Ah I can see now that the terms include 'stake not returned on winning free bets'. I wondered how that could happen.

Do you know how online winnings are claimed too, as I can't seem to find anything on them!
If you win, can you claim the money and then 'run' so to say? Or are you never able to withdraw all monies from the account?

Excuse my amateur ways, I appreciate the advice!

Always read the T&C's, though. Some bookies force a 'bonus rollover requirement' type thing which means you have to play through your bonus, say 3 times, before you can withdraw winnings.