It's not often you come across genuine free money. Here's my guide to making it through betting sites. You might be thinking I'm talking out of my arse, but I promise you this is zero risk, although it does require a small amount of capital.
Almost every betting site tries its best to pull punters in. To do this, the majority of them offer initial sign up promotions and bonuses. This is where the free money is to be had. I'll try to keep this guide as brief as possible by using an example.
Step 1
Locate a betting site. In this example we'll use Ladbrokes (there are a number to choose from that offer similar promotions).
The Ladbrokes promotion is a £50 free bet sign up offer; you deposit £50, make a £50 bet and once the bet settles (regardless of whether you win or lose the bet), you receive a £50 FREE bet.
Step 2
To make this free money, you must hedge yourself. The most efficient way of doing this is by using Betfair exchange.
Let's take a horse race for this example. Using the £50 you deposited, you place that on Jameerah to win.:
To hedge yourself, you 'lay' the horse on Betfair:
The outcomes:
1) The horse wins - you win £200 on Ladbrokes. You lose £205.80 on bet fair. You are net/net £5.80 down.
2) The horse loses - you lose your £50 stake on Ladbrokes. You win £46.55 on Betfair Exchange (Betfair charges 5% commission on winnings on the exchange). You are net/net £3.45 down.
In both outcomes, you lose a small amount of money but gain the £50 free bet.
Step 3
You now have the £50 free bet. You can go about using this free bet in a number of ways. The most profitable, long-term thing to do is to back and lay again on Bet Fair. You can tweak the amount you choose to back/lay for to your liking. If you can't be bothered to go through the effort of backing and laying again, you can simply enjoy the £50 free bet (which either cost you £3.45 or £5.80, in this example).
Ladbrokes is just one example of some of the promotions out there. Here is a list of the most popular promotions out there;
http://www.oddschecker.com/free-bets
Please note: some promotions are harder to unlock than others. Ladbrokes is one of the easier ones with a simple 'make a bet and receive a free bet' promotion.
I'm happy to help anyone with any questions they have about the process or which promos are the best. This is genuinely free money. You can make an account for your mum, your sister, your friend (as long as they live at different addresses) and could comfortably make a few £hundred, if not close to £1,000. Not bad for zero risk.
Hey @steemittrader , I'm hoping to build up the trading tag on steemit. If you're interested in contributing and having a platform please get in touch through steemit.chat. Go to the menu to the right, select steemit chat and sign up as your username here then send me a direct message if you're interested. :)
Sure, man! Will check that chat out @wingz
okay but if your target is the free £50 bet. then after finishing this one if you want another £50 you have to create another account. Btw what is the payment/withdrawal method? and is this for all country? Thanks for the info though
Hey! I'm not sure I understand your first question - can you explain a bit more please?
This is for the UK - I'm sure there are similar promotions in other countries, though. Payment method - you deposit using a debit/credit card or paypal or any other widely accepted payment method. Withdrawal - you withdraw money using the same method you deposited, and it normally takes 2-3 days to withdraw. Hope that helps @Johannvan
Congratulations @steemittrader! You have received a personal award!
Click on the badge to view your own Board of Honor on SteemitBoard.
For more information about this award, click here
@steemitrader does this bonus apply to all countries including Indonesia?
Congratulations @steemittrader! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The results, the winners and the prizes
Congratulations @steemittrader! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!