Coral Signup Offer
The first bookmaker which we are going to use is Coral, this is one of the easiest offers to complete. They offer a £20 free bet for all new customers who deposit and place a £5 bet at odds greater than or equal to 1.5. The majority of the matched betting offers you will using will be completed using the same logic as this one. On this basis, it’s important that you understand the basics of how they operate. It is highly recommended that you use a laptop or pc.
Open an Account with Coral
Firstly click here to open the Coral website, all bookmaker registration pages are similar and will take a couple of minutes to complete.
- Click ‘Join Now’ and you will be shown the following sign up page:
- Enter your personal information
- Continue to next
- Attach your Debit Card and deposit £5
Now we have deposited the initial £5, we will be directed to Coral’s home page. Most bookmakers will have the odds automatically set to Fractional odds. The easiest way we calculate our bets are using Decimal Odds. This is right at the top of the screen as shown below. Click Decimal to change your odds to decimal format.
Open an Account with Betfair
Next, open an account here with Betfair. The registration page is very similar to Corals, and in fact similar to most bookmaker registration forms.
Simply add your details as before click ‘Agree and Open Account’ then deposit into Betfair. We recommend to deposit at least £30 to cover the Coral sign up offer.
Odds Matching and Calculator
Before we dive right into placing the back bets and lay bets, it would be worthwhile taking one moment to explain the Odds Matching Software. The Odds Finder essentially helps you find the best bets to place with the bookmaker. It compares the bets (back bet) at the bookmaker with the lay odds on the exchange (Betfair) and sorts them in order of rating.
Odds Matching Software
Firstly, head over to the Odds Matching Page, click on the filter button, select Coral as your Bookmaker and Betfair as your exchange. Finally set the odds to a minimum of 1.5 and a maximum of 4.0, then click Apply. We have attached an example below, your results will be different however:
Looking at the Odds Matching results, there are many bets we can choose from. The ideal bet for our first qualifying bet will be one with a rating less than 100%. We would also look for something to start sooner rather than later, in this example we have opted for the Hamilton 16:10 race, backing the horse ‘More Beau’. We have selected this race as it finishes soon and allow’s us to cash out the profits more quickly.
In the table, and underneath the rating value, there is a small “i”. Click this and the Betting Calculator will be shown:
You can see the betting calculator displays some various information at the bottom:
- The lay bet to place with the Betfair betting exchange – for our bet this is £4.93
- The liability required at Betfair to cover the lay bet
- The Bookmaker Bet win position
- The Exchange Lay win position
You can see that our £5 qualifying bet loses a few pence either way. This is completely normal for a qualifier bet. As you will see later, we will win much more with our free bet.
For your qualifying bet:
- Find a bet between Coral and Betfair as instructed above. Minimum odds of 1.5, maximum odds of 4.0, rating less than 100%
- Click the small (i) button to bring up the calculator on the event you select. Make sure the bet type is set to ‘NORMAL‘ and your stake is entered, being £5 on this occasion. The other fields will have been automatically populated for you. The calculator will show you what your lay amount will be with Betfair
- Now we go to Coral find and place your bet as per the event you have selected on the Odds Matching page. (as soon as this is placed you will be credited with four £5 free bets). Example:
- Now go to Betfair Exchange, find your bet as per the event you have selected on the Odds Matching page and insert the lay amount in the backers stake box. Place bet and your Qualifying Bet is now complete. Example
Coral Free Bets
Once you have placed your qualifying bet, Coral will immediately credit you with your £20 free bets. These will be typically be credited as four single £5 bets.
To use the free Coral bets, they are very similar to placing normal bets:
- Firstly go to the Odds Matching Page. Select the filter, choose Coral as your Bookmaker and Betfair as your Betting Exchange. This time set the minimum odds to 4.0 and maximum odds to 7.0. Higher odds are better when using free bets as this will maximise your profits.
- Find a close match between the Coral and Betfair and click the small (i) button to bring up the calculator and select FREE BET (SNR) with your stake as £5 and the rest is calculated for you.
- We now go to Coral and place your bet. When clicking a selection, you also need to select your Coral free bet as shown in the bet slip:
- Then go to Betfair, find your betting selection, and lay off the bet as you did before, selecting the pink odds.
- Repeat this process another three times with your remaining Free Bets. You don’t have to find another three more bets using the matched betting software. Just simply place the back bet with Coral, and lay bet with Betfair, three more times each to use the remaining three free bets.
Your First Matched Betting Profits!
Once your qualifying bet and free bets have settled, you can now count your profits. Your total earnings should be around £15. To calculate this, add your Coral balance to your Betfair balance and take away any deposits you have made.
Recap of your first Bookmaker Sign Up Bonus
We can fully appreciate there was a lot to take in above. Safe to say that no-one ever found it that easy, but at least we hope you have got a grasp of the basics.
Like we discussed at the start, most of the offers you will encounter with ourselves follow the same steps:
- Place a qualifying bet with the Bookmaker
- Lay off the qualifying bet with the Exchange
- This results in a small loss
- Receive and place the Free Bets with the Bookmaker
- Lay off the Free Bets with the Betting Exchange
- This generates your profit
That’s it for the first session!