Converting Bookmaker’s Signup Offers into Real Cash

Converting Bookmaker’s Signup Offers into Real Cash Image
Alan Thompson profile photo

Author: Alan Thompson

Published: 14:32 02/12/2014

After reading this article every time you see a FREE BET or BONUS OFFER on – you will be thinking one thing – RISK FREE PROFIT!

As the bookmakers fight for your business nearly all, at some stage, offer incentives for both new and existing customers and here at we can not only find and bring them to your attention but we will also show you EXACTLY how to profit from them.

There are three things you need to start “risk free betting”:

  1. A list of bookmakers offering free bets
  2. A betting exchange account
  3. A bankroll to cover bets made at the bookmakers and the betting exchange

Once you have the above in place you are ready to start making money via “matched betting”.

Matched Betting

Take a look at the list of bookmakers and offers available at FREEBETS.COM and decide which one you want to use first. My advice would be to start with the smaller offers as this will help you understand how to convert the offers into real cash and give you confidence before moving onto the £100 and £200 offers.

However, the principle is the same for all the bookmakers and we've provided a betting calculator to workout the stakes and profit. It may seem complicated at first BUT it will soon become second nature and it’s as simple as this:

  1. Make your initial deposit with the bookmaker for the correct amount to get the max free bet available (check their terms and conditions to understand the offer, normally they will give you a free bet to the value of your first bet, a % of your first bet OR your initial deposit)
  2. Sometimes to obtain the FREE BET you have to place a bet called a qualifying bet, we do this by BACKING the selection with the bookmaker and LAYING the same selection on a betting exchange as close to the back odds as possible (this will normally result in a small loss) BUT what we have done is secured the FREE BET for that small cost.
  3. Once your FREE BET is credited to your account you just use the free bet or bonus as your stake money to back a selection and LAY the same selection on the betting exchange. However, as you are not staking with your own money you will now have generated a risk free profit!
  4. NOW you simply withdraw your money from the appropriate account and move onto the next offer.

Let’s take William Hill's £50 Sign up Offer as an example:

Create an account with William Hill

Before joining it is ALWAYS important to check the Terms and Conditions, bookmakers can apply different rules and you have to make sure you adhere to all of them to get your FREE BET. 

Once you have read and are happy you understand the terms and conditions (if you have any queries or are unsure, leave a comment at the bottom of the page and we will answer as quickly as we can), simply click the JOIN NOW button and complete the registration form – DON’T FORGET TO ENTER ANY PROMO CODE (BETS50 in this case)!

You will then be invited to deposit, to get the best return from this offer you would deposit £50 (although you can do it for any amount between £5 and £50). 

Once you have funds in your account you simply have to find an event where the odds at William Hill are close to the LAY odds at your preferred betting exchange.  

Let’s say there is a football match starting soon where the price at William hill is 2.0 and the price to LAY on the betting exchange is 2.1 this is close enough for what we are looking to do.

Qualifying Bet

What we do is place the QUALIFYING BET:

BACK (at William Hill) team A for £50 at odds of 2.0
LAY (on the betting exchange) team A for £48.78 at odds of 2.1 (assuming 5% commission paid)

Placing these bets would result in a loss of £3.66 regardless of the outcome.

Once these bets are settled you will have a free bet voucher for £50 credited to your William Hill account that you can convert into real cash.

Free bets are either SNR (Stake Not Returned) OR SR (Stake Returned) it is important to know which you have and for this promotion.  A quick check of the William Hill Terms and Conditions again, tells us “Free bet stake not included in any winnings” therefore we know this is a SNR promotion. Therefore, we simply repeat the process above again this time using the FREE BET....

BACK (at William Hill using the FREE BET voucher) team A for £50 at odds of 4.0

  • IF Team A win profit in William Hill = £150
  • IF Team A lose = £0 (FREE BET)

LAY (on the betting exchange) team A for £36.14 at odds of 4.2

  • IF Team A Win the Loss in the betting exchange = £115.65
  • IF Team A Lose the Profit in the betting exchange = £36.14 less (5% commission) = £34.33

IF Team A win:

£150 profit in William Hill less the loss in the betting exchange £115.65 (£150-£115.65 = £34.35) 

IF Team A Lose:

£0 (FREE BET) in William Hill plus the profit in the betting exchange £34.33 (£0 + £34.33 = £34.33) DON’T forget though you also lost £3.66 in the qualifying bet so min actual profit is £34.33 - £3.66 = £30.67

You have therefore converted your £50 into a risk free £80.67 – that is a 61% ROI (return on investment).  You can then repeat this process again and again with ALL the bookmakers on the list.  Just scanning down the list of sign up offers available on FREEBETS.COM there is over £1000 available, converting them into a 60% ROI (this is probably the min you would expect can be as high as 90%) would produce a risk free profit of £600.

AND this is just the start of what you can be done....Come back to the FREEBETS.COM betting academy to find out how to benefit from a whole range of bookmakers offers offered each and every day!