Free bets or matching bets can be used to good advantage when there is a short priced favourite you want to back. A good example is tonight’s Champions League 2nd round tie between Arsenal and Olympiakos. Arsenal are being quoted at 1/4 and they are fair odds given they are at home and the form of the two teams.
However, 1/4 are not great odds. That’s a bet of four units to receive one back as profit (five back in total). Of course, a 25% profit is a pretty good profit in anyone’s books. The risk is moderate that Arsenal may draw or, shock horror, actually lose. It is what I would class as a reasonable risk with a fair return.
Now if you agree with me that 1/4 is a reasonable return for this match, you would have to agree that 1/2 sounds even better! And it does. So how do you get odds of 1/2 when the going rate is 1/4? Easy – free bets or matching bets.
Online bookmakers William Hill are offering a £25 Free Bet when you open an account. Now if you think about it, if you place £25 on Arsenal and use a free bet to place another £25 on them – you have a total bet riding on Arsenal of £50. At odds of 1/4 your return will be £62.50 for a profit of £12.50.
YOUR investment was £25 – your profit £12.50 or odds of 1/2. You have effectively used your free bet to improve the odds in your favour. Some online bookmakers offer up to £100 in free bets once you join. However, you often have to cycle that free money several time before you can draw on it. Back the top four in easy home games – yes, the odds will be very short, but then by using the free money, you are cycling it as required, you are winning, and you are winning with much better odds. Too easy!

