Horse Racing - Losing Your Accounts
It’s not a great feeling when you lose a Bookmaker Account. I remember my first one very well. It was Cheltenham 2017, I had just taken BetWay to the cleaners with one of their offers.
Bet £100 and Get 5 x £20 Free Bets.
I had placed my £100 Qualifying Bet, which won at odds of 11/1. I didn’t receive my Free Bet, so thought I better contact BetWay and let them know they their bet crediting system wasn’t working! It was then that I was told all promotions are now Void on my account. I argued the toss that I placed this bet after being emailed with the offer, but BetWay wouldn’t budge. I was annoyed, but as it was Cheltenham, I didn’t have time to argue! So I moved onto the other bookmakers.
What Type of Horse Racing Promotions are available?
There are many different Horse Racing promotions available for you to take advantage of. These range from ‘Free Bet if Your Horse Wins’, ‘Free Bet if your Horse finished 2nd or 3rd, and so on! Different bookmakers run these promotions, so if you choose different horses you get a great chance of earning multiple free bets!
The most popular one is the Bet365 Free Bet if you pick a winner. This keeps rolling over, so if your luck is in, you’ll be rolling in it.
Why do you get Gubbed Fast when doing offers?
If you take part in Horse Racing offers regularly, there is a definite risk of you losing some bookmaker accounts.
Especially if you keep your Qualifying Losses as low as possible, as this means you are taking exceptional value.
The issue is, when Matched Betting, we have to take qualifying losses which are as low as possible, in order to make as much money as possible from that promotion. Look at the Below:
Profit is reduced as your larger losses eat into your returns on the free bet.
If you don’t hit the refund, qualifying losses can mount up. For Example, if you lose £2 trying to hit the refund & don’t hit the refund for 5 races, that’s £10 spent on Qualifying alone!
The only benefit is that the bookmaker will be more tolerant, as you’ve not taken exceptional value.
The problem with taking minimal losses are that we aren’t leaving the bookmakers any room to make money, as I posted in my How Bookmakers Profit post , if bookmakers aren’t making money, they will soon want you off their books!
It’s a lot more profitable to take the lowest qualifying losses, as it means we can take a larger ‘run of losses’, meaning we don’t hit the refund for a few races.
What gets you Gubbed?
There are quite a few things that can lead you to being restricted.
As Explained Above, really!
Arbitrage will be the end of your account, as it’s beating the exchange price, making profit regardless of the Free bet.
If you only take part in the promotions, the bookmakers won’t see a reason to keep you as their customer. Remember, the offers only exist to get you onto the site, playing Casino or placing accumulators.
PriceWise are profitable boosts, but there have been many members who have their maximum stakes cut to pence.
It could be a coincidence, but I generally receive a banning order after withdrawing. It’s almost as if the bookmakers are giving me a last chance to lose my money.
The only people that can win in Betting are the bookies. When you win, they will put your success to an end.