How to Make Money from Betting
With the advent of sites like BetFair, it's possible to be the bookmaker as well as placing bets. Clearly, if you can place a bet at high odds, then lay the bet off at low odds, you cannot fail to make a profit*. It is rare for the BetFair Exchange to be at a level which would allow you to do this, and you also have to take into account the commission BetFair charge. Also, the margins are usually tiny, if you actually stumble across such a glitch. So what can you do? Well, most bookmakers will offer free bets. Not only for new customers, but as frequent enticements to return to their site. The offer may be bet £10 on Saturday, get a free £10 bet on Sunday. Now, the odds are genuinely in your favour. Usually the qualifying bet must be placed on an event at longer odds than evens. But consider this :- If you placed a £10 bet at evens with the bookmaker, you may be able to lay a bet off on BetFair at 2.1 decimal odds. Let's say you took a bet on BetFair of £9.76 (y