Betfred 100£ bonus on first bet, hedging?

[Gaahl]

I dont know if this has been posted here before, I searched, but I didnt find anything.

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Betfred is offering new online customers a bonus of up to £100, completely free with your first bet.

It really is as simple as it sounds!

Whatever you win from your first bet, Fred will give you an extra 100% on top, up to the value of £100. For example, if you win £100 with your first bet, we will double it up and give you another £100 completely free.

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Terms and conditions
This offer only applies to a customer's first online bet.

1. The bonus is paid only on the bet winnings and does not include the bet stake.
2. To receive the 100% bonus the bet must be a winner on an event with three or more outcomes and where the odds of the selection are evens or greater.
3. For doubles and upwards the cumulative odds must be evens or greater, and all legs must have three or more outcomes.
4. This offer only applies to win bets and on each way bets the offer only applies to the win part.
5. Only one bet is permitted per household.
6. The minimum stake to qualify for bonus is £10 (or currency equivalent).
7. The maximum payout is £100 (or currency equivalent).
8. Settlement of bonus will be credited to a customer's account within 48 hours of the market completion.
9. Betfred reserves the rights to suspend, change or terminate this Bonus offer at any time at it’s own discretion.
10. Betfred reserve the right to decline bonus payments on any wager at their own discretion.

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The first question I ask myself, isnt it possible to hedge this bet with a betting exchange site ensuring a profit?

I have verry little knowledge around betting exchange, but somethings tells me that if you f.eks play 100£ on homewin on a soccermatch with the odds near to 2.00 (decimals) and then sell around x£? near the same odds, on homewin on a betting exchange site (betonbet, mansion, ect) , you would ensure a win no matter what the result is?

It sounds good on the paper, but can anyone who has knowledge on exchange betting\sportsbetting put up a guide on how to maximize EV from this promotion?

[nivaman]

Betfred is the new Mansion...

[Gaahl]

But does anyone have a plan on how to maximize EV from this?

[Ortho]

I got the exact same offer from a different bookmaker. If you want to hedge and lay it off on and exchange, it's a bit complicated but not too bad. You have to figure in the commission you're paying on the exchange into the arb, but you can just eyeball it if you want to get it close. Make sure your odds are evens or better and that it's a 3-way market.

BTW, since it's a £200 coinflip to win £300 you might seriously consider not hedging or just hedging some, since this is really good EV, but we don't need to get back into that again. [img]/images/graemlins/smile.gif[/img]

Edit: Didn't see your other question. If you want to max EV, just take them up on their offer, bet on something at evens, and hope it wins. Unless you find an arb lay on the same thing (unlikely in soccer markets but possible), hedging is always -EV. It's just how much you're willing to pay to not have to sweat the game. That should be related to your bankroll, not your psychology imo. See umpteen mansion threads for discussion of this.

[707782]

I have a hard time understand what their rules are.

[Doxa]

If you want to hedge try http://www.betbrain.com
For example : Chelsea - Liverpool 1x2 first half :
Home - 65£ at 2.5 Betfred = 260£ (with bonus, 60£ net)
Draw - 100£ at 2 BlueSQ = 200£ (0£ net)
Away - 35£ at 6 BlueSQ = 210£ (10£ net)
+ 25£ freebet with the sign up at BlueSQ

[Little_Luck]

I just tried this promo, no US allowed, confirmed.

To get maximum value, I suggest you take up the betfred +125 on US winning Ryder cup and covering at mansion for the Euro and tie to get very good value. Euro was paying +102 when I checked today.

Again, no US, I tried and failed.

Also, maximum winning match is 100 pounds, therefore if you take a 2 to 1 bet, you should bet 50 pounds to win 100. They will only match your first 100 of winnings, not match a 100 pound bet.

[fastandbulbous]

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I have a hard time understand what their rules are.

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Same here.

For instance, does a football game qualifies as an event with three outcomes (win, lose, tie) ?

And what does "odds of the selection are evens or greater" mean?

I'm not looking to hedge this bet, just want to be sure I make it right.

[Ortho]

Yes, a football (soccer) match has three outcomes and counts. The other term means that you have to make a bet at a price of 2.0, evens, or +100 or higher depending on which terminology you're using. You can't bet an odds-on favourite.

[Doxa]

Arsenal +1 at 2 is a good price (average is 1.78)