So I've just received a phone-call with on offer from a sportsbook I use, place a £30 bet at more than evens and if it loses receive a free bet to the same value as the losing bet.
What's the correct +ev way to use this?
What's the correct +ev way to use this?
I would back something at a big price which is slightly under on betfair and lay it for a break even spot after commission. Massively likely to get the free bet then at no cost to you. Then use the free bet in the same manner and you have effectively been given £30 in cash for free whether it wins or loses if you like a no risk approach and just want to trouser £30 and have suitable funds to lay a 10/1 shot in bf for £300 liabability.
If not then just have a bet for £30 which you were going to have anyway. If it loses and you get a free bet make sure you use the free bet on a biggish price. 10/1 or bigger. Don't back anything sub 10/1 with it.
Cheers arbboy, so looking at City v Hull tonight, I can back the draw on that sportsbook for 5.5, so £30 on that returns £165. I can then lay the draw on the exchange at 5.9, a liability of £154.74 gives me a return of £184.74 (£30 profit).
So if it is a draw I've profited a shade over a tenner risk free, if it's not a draw then I've broke even but have got the £30 free bet, sound right?