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Coral are a fantastic bookie for us matched bettors. You would have seen their shops up and down many UK high-streets. They offer a great sign up offer with a bet £5 to get £20’s in free bets plus loads of great on-going offers for existing customers too – so it’s only fitting we start your matched betting journey with them.
If you haven’t already the first thing you need to do is get a Smarkets Exchange account. Follow our button below to be taken to Smarkets. Register and deposit at least £20 to receive their £10 risk-free bonus offer.
General advice on registering and depositing at bookmakers:
#WDPHotTip on Depositing at a Bookie
At a bookmaker always try to deposit more than the minimum amount required. In matched betting we refer to this as ‘mug’ or ‘over’ depositing.
Although the minimum first deposit into Coral is £5 we recommend to deposit at least £10-£15, or even more if you can.
Why do we recommend this?
Well, to Coral you will immediately appear as a ‘good customer’ that is not just there to take advantage of the welcome offer. In the long-term as a ‘good customer’ you will then be much more likely to receive extra personal free bet offers from Coral. More free bets and offers mean more profits for you month in month out through matched betting. Signup offers are just the start of our profits in matched betting – we make much more money after the signups from ongoing existing customer offers – and Coral are excellent for giving such offers out.
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To swap to decimal odds on Coral just select Decimal from the odds format drop-down menu. (On desktop it’s usually at the top on the right).
For this first qualifying bet, we recommend selecting a team to bet on at Coral with odds between 1.50 and 2.80. This is to keep your liability (balance needed in Smarkets) low.
For clarity, if you select a team with odds of 1.40 (which is below the minimum odds), and place this bet, Coral will not then grant you your free bets.
HOT TIP: Remember the lay odds at Smarkets are in the BLUE BOXES.
Ideally you need a maximum 10% (or around 0.2) increment between the back odds at Coral and the lay odds at Smarkets.
For example, if the team you select at Coral have odds of 1.95, your Smarkets lay odds should not be higher than 2.15. This is to make sure your qualifying loss is as small as possible.
HOT TIP: £5 is the minimum stake needed to unlock the £20 of free bets at Coral. To appear as a good customer and increase your chances of unlocking more offers in the future we recommend to use a £10 stake (or more) if you can. We do this in the example below.
You will now need to enter:
The calculator then works out your lay stake amount.
This is the amount you will use at Smarkets for your against bet.
> At this point you must always check the liability amount on your calculator. Your balance in Smarkets must be the same or larger than the liability amount. If your Smarkets balance is less than the liability, you can not do your Qualifying bet until you top up your Smarkets balance first.
> It’s also a good idea to check the liquidity available in Smarkets is greater than your stake amount (the liquidity is the small silver numbers in £ that are under your lay odds blue box) . Ideally your liquidity should be at least double your lay stake amount.
The matched betting rule is to always put your bookmaker bet through first. So place your bet at Coral.
As soon as your bet at Coral has been placed and confirmed, you must now use your lay stake (as shown in your calculator) to place your against bet at Smarkets.
At Smarkets, click on the lay odds in the correct blue box, write the lay stake amount in, then click Place Bet and Confirm Bet.
Your 4 x £5 free bets are normally credited after you’ve placed your Qualifying Bet. Usually these free bets have a 7 day expiry.
We now have to repeat the same process we just used to do our Qualifying Bet with our Free Bets – but with a few slight differences to ensure we extract a certain profit…
We recommend either doing each of the 4 x £5 free bets separately on four different teams (from different games) OR if you prefer to go a bit quicker you could combine 2 of the £5 free bets on one team, the remaining 2 x £5 free bets on another team (from a different game). Effectively you will then be doing two £10 free bets. We do this second option in our example.
For Profit (Free) Bets, we need to find bets with higher odds so that we can extract a larger profit.
We have created a table for you below to see what amount of liability you will need in Smarkets to obtain certain profits based on doing £10’s worth of free bets at a time (i.e. if you are combining 2 of your £5 free bets at once).
|BOOKMAKER ODDS||LIABILITY (Balance needed in Smarkets)||YOUR PROFIT PER £10 FREE BET|
To help you out, we also talk about the best matches to place your free bets on in our weekly Potential Bet Selections Blog.
Enter your free bet stake, with your back odds from Coral and lay odds from Smarkets.
The calculator will work out the lay stake amount you need to use at Smarkets to make your profit. Here’s an example of what your calculator will look like:
Before placing your free bet, remember to do your two important checks:
Smarkets balance is greater than the liability in the calculator;
Liquidity at Smarkets (silver numbers in £ under blue lay odds box) is greater than your lay stake amount.
HOT TIP: It’s good practice to double check everything in your betslips before placing your bets.
As you know, you will make your profit using the free bets provided by Coral, so don’t forget to select to use the Free Bet in your bet slip before placing your back bet at Coral.
If you are choosing, like we did in the example, to use 2 of your £5 free bets on the same team – you will have to put one through then put the second afterwards, as you can only select one free bet at a time in the betslip.
Once your free bet is confirmed at Coral, head over to Smarkets and place your lay bet using the lay stake worked out by your Profit Bet Calculator.
Now all you have to do is repeat this process with any of your remaining £5 free bets.
You have just secured your first matched betting profits with the Wild Dog Profits team!
This is just the start. Don’t forget to let us and the community know how you got on via the Facebook Group. Feel free to screenshot what you’ve done if you want us to double check anything for you – it’s what we are here for!
Watched the videos and read the guides but still unsure what to do or worried you might make a mistake? Don’t worry we’re here to help!
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Visit our Potential Bet Selections blog to find Qualifying and Free Bets available this week.
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