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Free Bets Guide
Online Free Bets:
Genie’s current free bet partners are listed below. We’ll have more to come shortly!
Free bets are offered by bookmakers, usually to encourage new account sign-ups.
They are also used frequently to reward loyal customers or as part of a reactivation campaign.
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Free bets come with some terms and conditions that usually include the following:
- Stakes on free bets are not returned.
- This means that the punter is usually better advised to spend freebies on an outcome with higher than average odds.
- Why: Because if you bet on Man Utd to win at 1/2 with your free 20 quid free bet you will only be returned the winnings (10) if they are successful.
- This means that the punter is usually better advised to spend freebies on an outcome with higher than average odds.
- Free bets are excluded from other special offers on the event or market that the punter is betting on.
- So if there is a cashback special on the event the bookmaker may not return free bets in the event of the cashback clicking.
- The reason for this is often due to restrictions in the bookmaker’s backend systems that make it an extremely manual process to re-credit free bets.
GENIE SAYS: Punters should love free bets. Because almost all of the bookmakers these days give away free bets as part of sign-up offers Genie says when you see a good sign-up offer take it while it is available. Open as many bookmaker accounts as you can.
GENIE SAYS: Because free bets are not returned when using free bets the free bet is worth approximately 90% of its value in real money (stakes) terms.
Make sure to use our free bets guide to your advantage as we’ll constantly be updating the guide as and when new offers are available.
Online Free Bets:
Genie’s current free bet partners are listed below. We’ll have more to come shortly!
Free bets are offered by bookmakers, usually to encourage new account sign-ups.
They are also used frequently to reward loyal customers or as part of a reactivation campaign.
[table id=1 /]
Free bets come with some terms and conditions that usually include the following:
- Stakes on free bets are not returned.
- This means that the punter is usually better advised to spend freebies on an outcome with higher than average odds.
- Why: Because if you bet on Man Utd to win at 1/2 with your free 20 quid free bet you will only be returned the winnings (10) if they are successful.
- This means that the punter is usually better advised to spend freebies on an outcome with higher than average odds.
- Free bets are excluded from other special offers on the event or market that the punter is betting on.
- So if there is a cashback special on the event the bookmaker may not return free bets in the event of the cashback clicking.
- The reason for this is often due to restrictions in the bookmaker’s backend systems that make it an extremely manual process to re-credit free bets.
GENIE SAYS: Punters should love free bets. Because almost all of the bookmakers these days give away free bets as part of sign-up offers Genie says when you see a good sign-up offer take it while it is available. Open as many bookmaker accounts as you can.
GENIE SAYS: Because free bets are not returned when using free bets the free bet is worth approximately 90% of its value in real money (stakes) terms.
Make sure to use our free bets guide to your advantage as we’ll constantly be updating the guide as and when new offers are available.
Cashback Specials Guide
Cashbacks, also known as money back specials, are quite common among the more generous bookmakers nowadays. A cashback special is dependant on one or more outcomes accruing in an event. If that outcome occurs then the bookmaker refunds losing stakes on one or more markets on the event.
For example: “If Fernando Torres scores the last goal in this game then we will refund all losing bets on the following markets; First, Last or Anytime goalscorer, Correct Score and HT/FT”
This means that if Torres does indeed score the last goal of the game then all losing bets placed on the named markets are recredited back into the punter’s account balance. Not all cashbacks are refunded in cash. Sometimes they are refunded as free bet credit.
Paddypower half time accumulator moneyback special.
The terms of Paddypower’s current footbal special are:
- Until the end of March Paddypower will be offering a refund on all fourfold (and upward) accumulator bets, if the bet is winning at half time but not at full time.
- This applies to online bets only.
- In running bets are not included. The moneyback special is only applicable to pre-match bets.
Cashback Specials are only offered by fixed-odds bookmakers, not by Betting Exchanges.
For the most part the bookmaker only offers to refund on the higher margin markets to encourage punters to bet on these markets.
It still represents very good value for the customer who wants to bet on this market.
Some bookmakers become almost overly generous with their cashback specials and offer to refund on the win-draw-win market meaning that they run the event at an expected loss in order to encourage betting on the event.
GENIE SAYS: Keep and eye on our Cashback Specials section where we inform you of all cashback specials available from the top bookies and Genie recommends his special of the day.
Common Cashback Specials include:
- If player X scores the last goal we will refund losing bets on said markets.
- If player Y wins the tournament we’ll refund all losing bets on said market(s) (placed before tournament commenced).
- If team A win the tournament we’ll refund all losing bets on said market(s).
Guide to Live Betting
Betting in-running, or live betting as it is commonly known, accounts for about half of all betting on sports nowadays.
As the name suggests it involves betting on an event once the event has already begun. In a football match punters can now bet on the outcome of a game or if another goal will be scored right up until the final whistle. Most sporting events now have betting markets available right up until the result is determined.
Benefits of Live Betting
- Bookmakers yield a much lower return on the average live bet than on the non-live which suggests that live betting is better for the bettor.
- You can wait and see how an event is unfolding and offer a more educated opinion.
- Things change fast and it can be very exciting.
- You have many more opportunities to bet.
- You can bet on the next player to win a point in a tennis match or the next player to throw a 180 in darts. There is never a dull moment for the bettor.
- You can lock-in a profit before the result is in.
- Take for example a tennis match. You have backed Nadal to beat Murray at 2/1 before the match starts. Nadal wins the first set and now Murray is 2/1 to win the match so you put some money on Murray at 2/1 to guarantee that whoever wins, you make a profit (This is how you would do it with a fixed odds bookmaker. With a betting exchange you can just ‘lay’).
Delayed Bet Processing
When placing a live bet you will notice a delay in processing the bet. Most bookmakers traditionally put a 7 second delay (5 seconds only on betting exchanges) on placement of a live bet. This is so that the bookmaker has a cushion in order to react to something happening and either suspend the market or adjust their prices accordingly. It also protects against the possibility that some punters may be getting their television pictures a few seconds ahead of the bookmakers – or even actually be a spectator at the event while they are betting.
If the odds get shorter in the 7 seconds while you wait for your bet to go through, it will not be accepted and you will be reoffered the same selection but at a lower price.
If the odds get longer during that 7 seconds then your bet will be placed and you will receive the higher (and better) odds.
Automated Trading
Some bookmakers manually adjust their prices in-running but most of the major bookmakers now run off pre-determined models. Every price on every market is linked to the starting prices of the competitors and the current score. This means savings for the bookmakers in resource overheads because 1 trader can trade several in-running events at one time.
A punter who is aware of this fact should be able to use it to their advantage. Bookmakers don’t always get the starting price correct so in a situation where you think they have obviously miscalculated the starting price you will be able to find excellent in-running value because the latest prices being churned out by the robot are all coming from the incorrect starting price.
GENIE SAYS: Live betting is booming and will continue to get more popular. It allows a more educated prediction of the outcome and a knowledgeable punter should be able to make a profit.
Value Betting
Everybody wants to be a winning punter – to tell their mates the tales of the day they bashed the bookie. Winning is not that simple because the bookmakers are shrewd – but they can be beaten. If you’re serious about winning then you need to know about value betting and Genie wants to tell you a few simple tips that you punters can follow to try to enhance your expected return from betting.
1) Record Your Bets
Bettors should keep a record of every bet they have. This enables the bettor to constantly monitor how much they are winning/losing over a certain amount of time. It may also help to pinpoint certain types of bets or a certain sport which is particularly profitable or costly and maybe decide to adjust the stakes accordingly. Once you know the sports and markets that you make a profit on then can should focus on those primarily.
2) Do Your Homework
Bettors should try to arm themselves with as much information as they can before placing a bet. Where possible they should try to get the updated team news at the time of the bet to see if the team news impacts on what price the selection should be. Bookmakers will be sure to be doing their research on these factors so in order to give yourself a chance to compete on a level playing field you must get as much information as possible.
3) Price the market before looking at the prices
Ideally the bettor should try to compute the prices on a market before he looks at the bookmaker’s odds on the market. He should try to compute the odds to the 100% line. The bettor should then compare his odds against the prices being offered by the bookmakers to see if he believes there to be any value available in the market. If the bookmaker is offering a price which is bigger than the bettor’s 100% line after the research has been done then this can be perceived to be a value bet with a positive expected return. Punters should refrain from betting at a price that does not represent a value bet based on the customer 100% line prices.
4) Always get the Best Available Price
Bettors should endeavour to get the best price available on their selection before backing it. There are various betting odds comparison sites where it’s easy to identify which company are offering the best price. This may involve opening accounts with a number of bookmakers to place your bets rather than just one specific bookmaker. It is free to open these accounts and in fact many offer incentives to join up so it is worthwhile opening a number of accounts if needed.
An important point to remember on placing bets with betting exchanges is that they will deduct a certain amount off your winnings if successful. So although the betting exchange is appearing as the best available price the bettor should calculate the return after the deduction to check if the price is still more generous than the fixed odds firms.
5) Keep an eye out for Special Offers
In searching for the best price on a selection you should make yourself familiar with any of the companies that may be offering cashback specials that may refund your stake if it loses.
Check out Genie’s cashback specials section for a quick look at all available cashback specials. We rate the cashback so that you know which offers the best value.
6) Compare the Each-Way terms
If planning to place an each way bet have a look at the terms being offered by the various companies as the more attractive the place terms gives you a better chance of success and will represent the value bet. For example some companies may pay out on the first 4 places in the Grand National while others will pay out on the first 5 finishers giving you an extra chance of success.
7) Watch out for Bookmaker Oversights
Bookmakers can at certain times offer different prices for the same selection. An example of this would be offering 5/6 on a team to win a football match while offering a better price of 10/11 on the same team -0.5 on the Asian Handicap which is exactly the same thing. So when thinking of placing a match bet or handicap bet on soccer it is worthwhile comparing the Asian handicap prices also to see if there is an extra incentive to be had which would represent value betting.