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IMPORTANT: This is an intermediate to advanced matched betting offer.
This RedBet Welcome Offer includes 2 parts, using the promo code REDBETWELCOME:
1) a Free Bet If Lose Offer;
2) a Bet & Get Offer plus Casino Bonus
If you haven’t already we recommend reading our free bet if lose guide here before doing this offer.
In this guide for the Free Bet if Lose offer part of the offer we have opted to follow the Potential Profit Method because the free bet amount is 25% of the Qualifying Bet amount (i.e. £50).
This offer may look a bit daunting at first but is actually pretty simple for matched betting. It’s classed as intermediate to advanced because it involves 3 different parts and because you need a relatively decent balance in Smarkets and your matched betting bank float to do it.
PART 1 – FREE BET IF LOSE – Must use Bonus Code REDBETWELCOME
PART 2 – BET & GET + CASINO BONUS
Access our video guides, matched betting calculators & more instantly. Everything on our site will always be 100% free to use.
Make sure the use the bonus code REDBETWELCOME on registration/deposit.
If you haven’t tried the Oddsmatcher yet you can try it here for just £1.
Using the Potential Profit Method for the first part of this offer means we want the bet to lose at RedBet. We will only make profit if the bet loses at RedBet – otherwise we will be down by our Qualifying Loss. Therefore we recommend using as higher odds as possible for this first Qualifying Bet.
Keep your Qualifying Loss as low as possible by finding a bet which has lay odds at Smarkets within 5% of the back odds at RedBet.
The table below outlines the estimated liability you will require based on the odds you use.
Remember on Smarkets: #BLUE BOXES.
Choose a bet from the Oddsmatcher then check the odds are as expected at RedBet and Smarkets. (If not hit ‘Refresh’ on the Oddsmatcher to update the list of available bets).
You will now need to enter:
The calculator then works out your ideal lay stake amount, which you will use for your against bet at Smarkets.
> Check your Smarkets balance is greater than your calculator liability.
> Reduce the chance of partially-matched bets or un-matched bets by making sure the liquidity (amount under blue lay box) is larger than your lay stake amount.
Place your £200 bet at RedBet first and check it’s confirmed.
Place your lay bet at Smarkets using the lay stake from your Qualifying Bet Calculator
WINS at Red Bet
As we used the Potential Profit Method here we will be down by our Qualifying Loss and won’t receive a free bet. We can proceed to Step 5 and the 2nd Part of the offer.
LOSES at Red Bet
You will be slightly down by a small qualifying loss, but the bet losing at RedBet will trigger them to give you a £50 free bet (with a 7 day expiry).
You then need to use this free bet in the normal way using your Profit (Free) Bet Calculator.
i) Use your Oddsmonkey Oddsmatcher to find a bet with odds over 4.0 if you can.
We have created a table for you below to see what amount of liability you will need in Smarkets to obtain certain profits from this £50 free bet.
ii) Open the Profit (Free) Bet Calculator
Once you’ve found a bet to do enter your £50 free bet stake, with your back odds from RedBet and lay odds from Smarkets
Remember to do your important checks (Smarkets balance > liability; Smarkets liquidity > lay stake) before placing your free bet.
iii) Use the free bet in your betslip
> select your free bet in your betslip at RedBet
> place the free bet at RedBet first and then do your lay bet at Smarkets using the lay stake from your Profit Bet Calculator.
You are now in profit and can proceed to make some more profit from Part 2 of this offer.
You now need to do another £200 Qualifying Bet following Steps 2-4 above. Remember the minimum odds are 1.80. This is now a standard Bet & Get offer so we don’t mind if this bet wins or loses at Red Bet as we will receive a £25 free bet and £25 casino bonus regardless.
Once you receive the £25 free bet use it in the normal way with your Profit Bet Calculator (follow Step 5 above, part i-iii if you need an outline of what to do).
After completing this free bet you will be in profit.
IMPORTANT: Only use the casino bonus if ALL your bets have lost at Red Bet and you have £0 in your account balance.
If any of your bets won at Red Bet then do NOT use the casino bonus.
Why do we say this? Well, Red Bet will use your cash winnings in combination with your £25 casino bonus. This means you are taking a risk with your money.
The bonus is only risk-free if you have NOTHING in your account after all your bets have settled. To understand more about casino offers, read our guide here.
Well done – that was a more advanced matched betting offer.
Track your profits and tick this offer on your checklist, and lets get to the next offer…
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Visit our Knowledge-base which includes many matched betting FAQs
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