When signing up with a new bookmaker, punters often get a deposit bonus in the form of free bets. This bonus is not withdrawable as cash – but it is possible if you know how to make a “surebet” which guarantees you winnings, and walking away with cold hard cash in your pocket.
How do I make a surebet?
The only surefire way of guaranteeing a bet as a winner is to cover all possible outcomes. To do this, you need to be able to take bets in the same way as a bookmaker does. This is called “laying” a bet.
To do this you are going to need an account with a betting exchange such as Betfair, Betdaq or Matchbook. A betting exchange allows you to make a bet with another customer – which gives you the possibility of laying a bet.
How does a surebet work?
The idea of a surebet is to make a bet with your deposit bonus, and then to make the exact opposite of that bet with a betting exchange. For example, if you back Real Madrid to beat Barcelona with your bookmaker, then you will need to lay Real Madrid to beat Barcelona with your betting exchange.
It’s important to take into account a couple of important factors when doing this. Firstly, the odds with the betting exchange need to be as close to the odds with the bookmakers as possible. Secondly, the maximum liability with the betting exchange needs to be exactly equal to the profit you would make with your bookmaker.
How do I make profits with surebets?
Some bookmakers will insist that you must “turn over” your deposit bonus more than once before you can withdraw it. What that means is that you must use it as a bet, win, and then use it as a bet again and win before you can withdraw it as cash. Using the method described above gets around that.
If you have placed a surebet and your bet with the bookmaker loses, then your bet with the betting exchange wins and that cash can be withdrawn straight away. If the bet with the bookmaker wins, provided you have stuck to the rules and ensured that the liability with the exchange is exactly equal to the profit made with the bookmaker you are no worse off, and you can repeat the method until you can either withdraw money from the bookmakers or the bet with the betting exchange wins.