Make An Ongoing Profit With 21Bet Free Bets
September 5, 2017
Online bookmaker 21Bet has set itself apart from the crowd by offering free bets forever. Yes you read that right, you can get endless 21Bet free bets for as long as you meet the qualifying criteria of the promotion. It’s a great incentive for the regular gambler but those in the know about matched betting will be rubbing their hands with glee.
If you haven’t heard of the concept, matched betting is a method of using bookmaker promotions to make a cash profit. It is not gambling, as you’ll be covering your wagers with a betting exchange. The proven money making practice is entirely legal and all earnings from it are classed as winnings, so are therefore tax-free.
You can start a free Matched Bets trial account today to learn first hand how matched betting works. There is no obligation to go premium and the trial offers should net you a £50 profit. You’ll learn how to do matched betting and experience our industry-leading software solutions. Further details can be found at the bottom of this page.
Earning The Initial Free Bet
The Free Bets Forever welcome offer is for new customers only. After you have registered an account, you will need to make a deposit. It’s best to use a debit card to make your payment. E-wallets and prepaid cards are excluded from the promotion and additional charges are added to credit card transactions.
The day that your account is opened will be your anniversary date for the remainder of the promotion. In order to receive the initial free bet, you must place five qualifying bets that also settle in your first week of membership. A qualifying bet must have a minimum stake of £10 and be struck at odds of Evens (2.0) or greater.
By laying your bets at an exchange such as Betfair or Smarkets, you can significantly reduce the cost of qualifying for the free bet. A lay bet is to bet something won’t win. So essentially, you will have both sides of the equation covered. You can use the Matched Bets calculator to work out the ideal lay stakes when completing this offer.
For example let’s say you intend to place a £10 bet on Liverpool to win a football match at odds of 2.00 and the same selection is available to lay on Betfair at odds of 2.05. The matched betting calculator will recommend a lay stake of £10. This will result in a 50p qualifying loss, whatever the outcome.
- Liverpool win = Make £10 with bookmaker but lose £10.50 on exchange = -50p
- Liverpool don’t win = Lose £10 with bookmaker but make £9.50 on exchange (£10 – 5% commission) = -50p
The above example is a 95% match and with five bets to place to trigger the free bet, 50p is the most you would want to accept as a qualifying loss each time. Let’s assume you get similar matches for the four remaining bets, so it’s cost you £2.50 to earn the free bet.
Using The Free Bet
By meeting the qualifying criteria, you will be given a £10 free bet. This token can then be used to bet on any sport over the next seven days. If you don’t use it in this time, it will be removed from your account. Free bets are given on a stake not returned (SNR) basis. This means that if you win with the free bet, the value of the stake will not be included with the payout from the bookmaker.
At this point you are no longer betting with your own money but looking to make a cash profit from the free bet. Our matched betting calculator has a setting for this. Seeking a close match at as high odds as possible gives the best profit but anything above 4/1 (5.0) should return a decent amount. For this particular offer, the maximum odds are set at 6/1 (7.0). Ideally you want to retain 80% of the free bet value and this is achievable within the terms.
For example, let’s say you are going to back Nijinsky to win the 4.00 Epsom at odds of 7.0 and the Betfair lay odds are 7.1. The matched betting calculator will suggest a lay stake of £8.51. This will result in a good profit whatever the outcome of the race.
- Horse wins = Make £60 at bookmaker but lose £51.91 at exchange = £8.09
- Horse loses = Lose free bet (£0) at bookmaker but make £8.08 at exchange (£8.51 – 5% commission) = £8.08
You already know that your qualifying loss was £2.50, so after deducting this from your £8.08 return from the free bet gives a final profit of £5.59. You can then look to make a continued profit each week thereafter.
Ongoing 21Bet Free Bets
In order to receive further free bets, you must continue to place real money bets with 21Bet. To qualify, ten bets of £10 or more at minimum odds of Evens (2.0) must be placed and settle within a week. Your anniversary date will be used to determine this period, so if you signed up on a Tuesday the week will be Tuesday to Monday.
As long as you continue to meet the qualifying criteria, you’ll be able to get a £10 free bet each week. However, if you miss a week, you will no longer be able to take advantage of the promotion. As ten bets are now needed to trigger the free bet, it’s important to get as close a match as possible to make the offer pay.
Other 21Bet Promotions
This bookmaker runs various other offers for existing customers. For selected football matches, you can get up to £25 free bet if the game you bet on ends as a score draw. For selected horse races, there’s a money back special when your selection is beaten by a length or less. Both of these offers have a decent expected value and should yield a profit over long-term play.
There is nothing to stop you from playing other 21Bet offers (unless the terms state otherwise) alongside the free bets forever deal. In fact, taking this approach is advisable as your qualifying losses will be contributing towards multiple free bets.