Bet X and get an X Free Bet?

Sometimes online bookmakers will offer you a free bet if you bet a certain amount on a particular event. As a general rule we need to figure out if such a bet is worth completing. Of course in this situation we will always weigh up the profit and loss expected and base our decision on this. As a general rule of thumb we’ll look to lose no more than 5% of our stake on a qualifying bet and make at least 80% profit on any free bet given. So if a bookmaker is offering a £5 free bet based on a £100 bet we’d have to look closely at this offer and most likely side against it. However if a bookmaker were to offer a £5 free bet based on a £20 stake we’d gladly take part. 

Example 1 

Place a £25 bet and get a £5 free bet
We’d expect to lose 5% of our £25 to get this free bet, so we’d incur a £1.25 loss, but we’d expect to make 80% profit back on our free bet, that works out to £4 on a £5 free bet so overall we’d be left with a £2.75 profit. Of course we’ve overestimated the loss here so you’d probably walk away with something more like £3.25. 

Example 2 

Place a £100 bet and get a £5 free bet
We’d expect to lose 5% of our £100 to get this free bet, so we’d incur a £5 loss, but we’d expect to make 80% profit back on our free bet, that works out to £4 on a £5 free bet so overall we’d be left with a £1.00 loss. Of course in this situation we’d ignore the free bet offered and wait until a better betting offer becomes available 
 

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