Term and Conditions.
Bookie’s Ts & Cs may well be dull, they may well be boring, but they are very important and you are advised to read them, understand them and realise their implications prior to attempting to bash a bookie.
The devil is in their detail!!
Here is a selection of the Ts & Cs from various bookies:
• Free bets only apply to new customers. Past and existing customers do not qualify.
• Free bets only apply to Internet and Telephone accounts.
• Customers who deposit money into their account via Moneybookers and Neteller are excluded from the free bet offer.
• The cumulative odds of the selections on the first bet must be evens or greater in order to qualify for a free bet.
• The free bet will usually be made available within 24 hours of the first bet being settled.
• The first bet must be settled within 30 days of account opening in order to qualify for the free bet.
• £5 or more (or currency equivalent) must be wagered on the first bet in order to qualify for the free.
• Previous account holders are not eligible for the free bet. Anyone opening an account that has previously held one that is closed does not qualify for the free bet.
• The free bet is valid for 30 days after issue. Any free bet amount left unused after 30 days will be removed.
• The first bet must be placed on a sports book market, numbers or lotto only (Games, Casino, Poker, Arcade and Bingo do not qualify).
• One free bet per customer only.
• The free bet stake is not included in any returns and is non-withdrawable.
• The free bet offer cannot be used in conjunction with any other offer.
One issue with the Ts & Cs is that, prior to the free bet bonus being credited to an account, a qualifying bet must be placed on the outcome of an event. i.e. a customer must risk money their own money first before becoming eligible for a free bet.
Although we cannot circumvent this, let’s see how we can obtain a free bet without exposing too much of our money.
In outline, a qualifying bet is placed on a horse winning its race with the bookie offering the free bet and then as much of the liability is layed off, as is possible, on a betting exchange.
In this way, it becomes a low/no risk bet.
The only issues here are that:
• The betting exchange odds are generally greater than the bookies’ odds by approximately 20% and sometimes more.
As such, it is possible that a relatively small amount of money could be lost due to the difference between the bookie’s and the exchange’s odds.
The greater the difference, the greater the potential loss is.
Therefore, it is best to wait until a horse can be identified whose difference between the bookie’s and exchange’s odds is as little as possible.
In this way, the potential loss is also as little as possible.
It would be ideal if the bookie’s back odds were greater than the exchange’s lay odds, but this rarely occurs.
• Generally, in a fast moving market, odds change relatively quickly, especially on exchanges.
Therefore, the required lay odds may be unobtainable.
The best advice that we can give is to be patient and to place the qualifying bet well before the start of the race since betting markets tend to be more stable at this time.