A bankroll is the funds you set aside for sports betting activity. Naturally we all want to find ways to increase this sum without investing in it ourselves. We’ve uncovered a method that may take some effort, but in the end is well worth the gains. It is a process of backing and laying with bookmaker registration bonuses.
Step one: Bonuses
To get started, you’ll need to open an account with a betting exchange style bookmaker, like Betfair. Make sure to redeem a welcome bonus and make your first deposit. Often welcome bonuses are deposit matches, like 100% up to $50, so be keen to deposit the right amount for the maximum reward.
It can be helpful to open up an e-wallet like Skrill or Neteller, which allows small money transfers at fast rates.
Next, repeat the above process with a number of other bookmakers to build up a handful of bonuses across different platforms. It pays to take careful note of the details in a spreadsheet. Be mindful to track the rollover conditions, the amount of times the bonus amount needs to be wagered before it can be withdrawn. An example of rollover conditions would be 3x on odds of at least 1.60. To withdraw, you need to make three $50 bets at those minimum odds.
Step two: Back & Lay
The heart of this strategy now requires some careful maneuvering called backing and laying. The idea is to search for equal odds on opposite outcomes, guaranteeing a profit no matter what happens.
To start out, search for a bet on one of your bookmaker platforms. Next, search for a higher odd on the opposite outcome on the betting exchange. Because individual sports bettors offer odds on betting exchanges, not a bookmaker, you’ll be more likely to find attractive odds to match your strategy.
In backing and laying terms, the bookmaker bet is your ‘back-bet’ and the exchange bet is your ‘lay’. If you win at the bookmaker, you’re one step closer to fulfilling your rollover requirements. But if you win on the exchange, losing your bookmaker bonus amount, you’ve turned a profit not subject to rollover conditions.
Step three: Repeat
Always be mindful of a bookmaker’s bonus conditions before diving too deep. For example, some require you to wager the deposit + bonus amount, not just the bonus. This could heavily impact your ability to back & lay without risk. Once you understand the method, build your own tracking system, and fulfill all your rollover conditions, you can withdraw your new risk-free bankroll to your e-wallet.