[NOTE Deposit into Coral using a debit card.]
You need to have both accounts before you can get started. Once you have opened your Coral account deposit £5.
We start by using the Odds Searcher to find a match to place our qualifying bet on.
To qualify for the free bet all we need to place a £5 qualifying bet.
[Coral terms and conditions tell us, our qualifying bet has to be at odds 1.5 and above]
- We must select ‘Coral’ from the drop down list.
- And then entering 1.5 into the ‘Back’ odds box, our results will be filtered, and all suitable matches at Coral are shown.
The Software lists the best matches at the top, this is shown in the rating column, where we want to see a rating of 95% and above.
We tend to go for odds closest together and also the odds which are closest to our minimum of 1.5. This is because the lower the odds are, the less money we’ll need in out Betfair account.
NOTE In Coral account settings ensure odds are appearing in Decimal and not Fractional format.
Once you have found a match to bet on use Matched Betting Calculator to work out how much you need to bet.
- Select “Normal” at the top.
- The bookmaker stake is £5.
- Enter the Coral BACK odds (1.80, in this example).
- Enter the Betfair LAY odds (1.82, in this example).
- The lay commission is 5%.
- Press calculate.
The calculator will shows us our stake and our liability. As the calculator shows our stake in this example will be £5.08
The liability shows how much I will need to deposit into Betfair to cover this lay.
The lay amount is what you’ll type into the stake box on Betfair, as shown below.
So I need to find the game (Tottenham v Leicester) on both betting websites – Coral and Betfair – and also check the odds the odds are correct on both websites. They are, so I then proceed to place the bets.
So, we place our £5 BACK bet at Coral. Then we deposit the required amount into Betfair, and place the LAY bet.
[Note In Betfair click on the PINK price to make a LAY bet]
Remember, both bets – the Coral BACK bet and the Betfair Lay bet – are on the same team (in this example, Tottenham)
Coral will credit your account with a £20 free bet immediately after placing your £5 qualifying bet. If you don’t receive the free bet, go on My Account, then Live Chat and Coral will add the free bet for you.
The Free Bet is credited as 4 separate £5 free bets. All this means is we will place 4 separate £5 bets Free Bets, instead of 1 single £20 Free Bet.
Similar to how we placed the Qualifying bet, we will now repeat the same process, but this time we are looking for odds higher than 4.0. This is because we are using a Free Bet token and our Stake will not be returned (SNR) with our winnings.
So this time in the Odds Searching software, By selecting “Coral” from the drop down and by entering 4.0 into the ‘Back’ odds box all suitable matches at Coral are shown.
Generally, the higher odds that we use here, the higher our profit will be. But it is worth considering the higher the odds are the greater liability will be in Betfair, meaning we will need more money in our Betfair account to cover the bet.
In the software I find a match that I’m happy with- its Man City v C Palace as shown below.
The BACK bet at Coral is on the game to be a Draw at odds of 5.5.
The LAY bet at Betfair on the game not to be a Draw is also at odds of 5.5.
We then go to our Matched Betting Calculator and plug the numbers into it.
- Select “Free Bet SNR” at the top.
- The bookmaker stake is £20.
- Enter the Coral BACK odds 5.5.
- Enter the Betfair LAY odds 5.5.
- The lay commission is 5%.
- Press calculate.
The Liability is £74.30 in Betfair -this means I need this amount in my Betfair account to cover this bet. So I go ahead and deposit £74.30 into Betfair.
I then find the correct game (Man City v C Palace) and also check the odds are correct on both websites. They are, so I then proceed to place my Coral £20 Free Bet.
The Free Bet is given to you in 4 x £5 free bets = £20 Free Bet. This means I need to place 4 separate £5 bets Free Bets, instead of 1 single £20 Free Bet. On the betting slip make sure you select the free bet token from the drop down menu on the betting slip each time.
Finally, I can then place my Betfair LAY bet of £16.51.
The free bet makes a guaranteed profit of £15.68 – the lost £0.05 from the qualifier = Total profit of £15.63
All that’s left to do is wait for your bets to settle and withdraw your profit.
Have a read through this guide a few times to get your head round it. Try out the software, play around with a few examples and then get started!
Once you’ve finished this Offer – BetFred is another easy offer with slightly more profit to be made.
Full list of Bookmaker Offers here.