You already know that as a sports-arbitrage trader, you will need to open a large number of bookmaker accounts. However, did you know that you can actually get paid as much as £2500 to do this?
Many online bookmakers offer free bets and/or cash back bonuses for new accounts, whilst others offer special promotions for specific events. Click here for an up-to-date summary of the new account bonuses & other promotions available right now from UK licensed bookmakers online.
In most cases, you'll be offered a welcome bonus when you join a bookmaker or make your first deposit. It may take the form of additional funds in your account or it may be a free bet or the promise of your stake returned if your first bet loses. You should take full advantage of these bonuses when setting your accounts up for your arbitrage trading; right at the start & when you probably need it most, these bonuses can easily provide you with an extra £1000-£1500
You'll also find that some bookmakers offer bonuses during key periods of the year (the start of the American Football - NFL - season is a great example). Some of them pay weekly deposit bonuses in order to keep their customers coming back whilst others offer "low-juice" or "no-juice" wagering on certain days (i.e. odds set at a drastically reduced profit margin for the book).
Whatever form the bonus takes, you can take advantage of this situation to make quick and easy risk-free profits. Follow the method below for the quickest & simplest way to extract the profits.
In my example, I'll use VCBet's offer of a £50 free bet for new customers. According to their rules the bet must be placed at odds equal to or higher than 1/1 (aka evens or 2.00)
Here are the steps needed to profit from this bonus:
1. Place a bet using your own money at VCBet in order to qualify for the free bet. You'll lay this bet off at Betfair to neutralise the risk. This may result in a very small loss, but don't worry as it will be more than compensated in the second part of the strategy.
Example:
- Bet £50 at VCBet on Newcastle at 2.90
- Lay Newcastle at 2.92 on Betfair
- If Newcastle wins, you'll get £95 from VCBet and lose £97 at Betfair i.e a loss of £2
- If Newcastle does not win (i.e draw/lose), you'll lose £50 at VCBet and win (after commission) £48 at Betfair i.e a loss of £2
The net result is a loss of £2 but you have now qualified for the £50 free bet
2. The second part of this strategy is to use the £50 free bet and again lay it off at an exchange. This time the result will be a profit.
Example:
- Bet £50 at VCBet on Derby at 4.35
- Lay Derby at 4.70 on Betfair
- If Derby wins, you'll get £167.50 from VCBet and lose £133.28 at Betfair i.e a profit of £34.22
- If Derby does not win (i.e draw/lose), you'll lose £50 at VCBet and win (after commission) £34.22 at Betfair i.e a profit of £34.22
Taking into account the £2 that was lost in part 1, your net profit is £32.22
£32.22 may not sound like much but you can easily repeat this same process 40 times over the course of a week to make well over £1000 completely risk-free. With the follow-up bonuses offered by most of the bookmakers, your total profit could be as much as £5000 - just for doing the preparation work you need to anyway if you want to become a sports arbitrage trader.
Click here for an up-to-date summary of the new
account bonuses
& other promotions available right now from UK licensed bookmakers online
Now that you're already in profit from this
exercise, it's time to start looking into the free trials offered by
many of the sports arbitrage companies out there so that you can choose
which will be best for you.& other promotions available right now from UK licensed bookmakers online