August is a bastard! That is how Steve from DailyProfit .com.au started off his most recent newsletter. I have to agree with those sentiments. We only operated on 2 days. 1 bet on Wednesday and 11 on Saturday. When we got the first one up at Moonee Valley, I was hoping this was the day that our luck would turn. The tracks are drying out, the weather is warming up and the better quality horses are coming out to play. But unfortunately we ended up with lots of places again. This week we had 12 bets for 2 Wins (17% S/R) and 7 Places (58% S/R). We invested 14.25 Units and returned 14.33 Units for a profit of 0.08 Units.
The Punters Clubs provided a 55% ROI, which is depressing.
One more week until Spring!
Bonus Bets, Free Bets etc.
There are a number of articles on this subject, on the web (over a million). But the basic premise is pretty simple.
If you get a Bonus from a Bookie, a Free Bet etc, they will generally be tied to lots of conditions. What you want to do is to get your cash out of the Bookies Account, into an account where you can withdraw the cash immediately.
To do this we:
Take whatever qualifying action is required to obtain the bonus. If you have to place bets, then you place and lay the same bet where there is a minimal loss.
Find a contest where there are only two possible results. And back one result with your free bet and lay the other result at Betfair. Odds between $5 and $8 are generally satisfactory to ensure that you will not win the Bookies Bet, but also will not need a huge Betfair Account to cover your lay bet:
You need to know:
i.Is the stake returned (generally not)
ii.The Betfair Commission (varies within different Australian States and Overseas)
iii.Are you allowed the bonuses in your State or country?
This is all explained in great detail at http://bet72.com/help/risk-free-bets-guide/ and there is a free calculator at http://bookiescash.com/tools/risk-freebet-calculator.html , ignore the Pounds sign. Plus there are plenty of other explanations on the web, such as http://www.sportsarbitrageaustralia.com.au/lessons/ARB215-bonus-scalping.shtml
I have a number of free bets (stake not returned from TAB.com.au) from backing the EPL odds on Favourites, or arbing the match (Back & Lay; or back both teams).
West Brom are $6 against Chelsea $1.50.
I back West Brom for $100 (FB) @ $6 with TAB.com.au
And Lay West Brom for $77.03 @7.20 with Betfair
I will win $72.41, which means that 72.41% of the Free Bet is retained as cash. This is a bit low. I would like 75%+ , and to get this I need the Back and Lay odds to be closer. Odds of $7 for West Brom would give me a return of 74.50% , which is getting closer. So I either have to watch this market and see if the odds come closer. Or I have to choose another event.
There are plenty of bonuses out there. Try this out with your free bets, until you get comfortable with it. Then you can convert Sign On Bonuses from Bookies into cash. Check if they apply to your State. The TAB.com.au promotion runs for August. So you still have some games today, tomorrow and next weekend.