Sportingbet Backup Bet
August 19, 2019
The majority of bookmaker new customer offers award you with a free bet for registering and placing your first bet. However, some bookmakers provide new customers with different offers, one being a ‘Free Bet on Loss’.
Unlike standard ‘Bet & Get’ offers, you’re not guaranteed to receive a free bet with ‘Free Bet on Loss’ offers and as the name suggests, you will only receive the free bet should your qualifying bet lose. Despite not being guaranteed a free bet, there is still value in these offers and it is possible to lock in a profit using matched betting.
The majority of good matched betting calculators, such as the one found on MatchedBets.com, will have a ‘Free Bet on Loss’ setting. This setting was specifically implemented for these offers and calculates your lay stake based on receiving your stake back as a free bet should your bet with the bookmaker lose.
One bookmaker which offers a free bet on loss to new customers is Sportingbet. Sportingbet brand their new customer offer as a ‘£10 Backup Bet’ but it is essentially a free bet on loss on your first bet.
This is a simple offer to claim and we have given it an estimated value of around £6.50 when matched betting. Many bookmakers require you to enter a promo code to be eligible for offers such as the ones listed on Bonuscode.co.uk. However, no bonus code is required with this offer from Sportingbet. To claim this offer, you simply need to register a new account at Sportingbet, deposit £10 or more and place your first bet of up to £10 on any sports market (horse racing bets are excluded) at odds of evens (2.0) or greater. If your bet loses, Sportingbet will refund your stake as a free bet up to £10.
If you are not matched betting this offer and prefer to try your luck at picking a winner, we recommend betting at low odds to maximise your chances of returning a profit. Just keep in mind that the minimum odds to qualify for the free bet on loss offer are 2.0 and so your bet must be at these odds or greater. If you are matched betting this offer and are using the ‘Free Bet on Loss’ setting on the matched betting calculator, we recommend using higher odds as this will return a greater profit whether your bet wins or loses than if you use lower odds.