Below I have detailed my free bets strategy for free bets under and over €/£5.
My Strategy for Matched Betting Free Bets under €/£5
My free bets strategy for all free bets under €/£5 is to dutch a football match where one team is a heavy favourite.
The free bet is placed on the underdog and bets are placed on the favourite and the draw at other bookmakers or at a betting exchange.
I use a dutching calculator to work out how much I need to place on the two other bets.
Using this method, you usually are able to extract around 60-70% of the value of the free bet and you get up to two free mug bets at the other bookmakers.
If the amount needed to be placed on the draw is very small (like in the example below), I will often back the draw at Betfair or another betting exchange rather than placing the bet at a bookie.
Also, mug bettors rarely bet on the draw so it might be a red flag to the bookmaker if you are frequently placing odd amounts on a draw.
The higher the odds for the underdog the better it is for this strategy.
I have not had any issues using this strategy in terms of gubbing as I say it looks to the bookmaker that I don’t see any value in the free bet and I am just placing it on a high odds selection and hoping for the best.
Below is an example €1 free bet that I used to dutch the Portugal vs Israel match that was played on the 9th of June 2021.
As you can see from the dutching calculator above, I will get approximately 62 cents from my fee bet and I will also be able to place a €10 mug bet at 888sport, Betway, Boylesports, Unibet, or William Hill who were all offering odds of 1.20 for Portugal to win.
For the remaining €1.67 on Portugal, I placed this amount as a back bet with Betfair as it is better to stick to round numbers for your bookie accounts.
For the draw bet, as the amount to be staked was below €5, I have placed the full stake at Betfair.
Profit Accumulator has a Dutching tool that can help you find an appropriate selection for this strategy.
The main thing to look for if you intend to use this free bets strategy is a favourite with odds below 1.30.
If the low-value free bet is restricted to horse racing, I don’t use the above method.
Instead, I will find a horse with odds between 6.0 and 10.0 that has won its last race and has good recent form (FYI – Mug bettors are likely to bet on these sorts of horses).
I will then check the lay odds of the horses I find that match that criteria at the booking exchanges.
Once I find a match that will guarantee me at least 70% of the free bet, I place my back and lay bets.
For €/£1 horse racing free bets, I don’t bother laying the bet.
My Strategy for Matched Betting Free Bets greater than €/£5
My Free Bets Strategy for free bets greater than €/£5 (as long as the free bet isn’t restricted to one event or sport), is to always place it on horse racing.
I do this so that I can benefit from getting Best Odds Guaranteed (or “BOG”) if the horse wins the race.
You won’t get a BOG on every race but it can be a nice bonus when you do get it.
When selecting a horse to back with the free bet, I stick to horses with odds in the range of 6.0 to 10.0 and I am looking for as close a match as possible.
I will also look at the most recent form of the horse and who the trainer and jockey are and I also use the horse filter on the Time Form website to help find selections.
You should always ask yourself the question: Would a mug bettor back this horse?
If the answer is no, then you need to find another horse to back.
The more you can make your account seem like that of a regular mug bettor, the better it is for your account health.
If the free bet is restricted to a certain sporting event or sport, I will first look to see if there is an opportunity to use my free bet to dutch the event e.g. a football or tennis match.
This way I can create some free mug bets with other bookmakers.
Whether I do this will depend heavily on whether the odds on the event are good enough at the different bookies.
If not I will use Profit Accumulator’s OddsMatching tool to find a selection with a good SNR (Stake Not Returned) percentage and I am happy with an SNR of 70% or above.
If you have any questions or comments on my free bets strategy, please leave a comment below.