A bet placed at a bookmaker in order to receive a free bet.
A bet where, if it wins, the original stake is also returned. For example, a bet of £5 at odds of 5.0 will return £25 – the £20 win plus the £5 stake.
Stake Nor Returned or (SNR) as it’s often referred to, is when we don’t get our original stake back when our bet wins. This is very commonly used for free bets. For example, a bet of £5 at odds of 5.0 will return only £20.
A bet that wins if the selection on which it is placed wins. This is usually done with a bookmaker but can also be done on exchanges.
A Lay bet is a bet on a selection NOT to win. “Laying” is the process we use to match our bet on the exchange. We calculate our lay amount using the Odds Calculator and then lay it on the exchange to ensure the bet remains completely risk free.
When using our Odds Calculator you will always be given a liability. This is the amount we will need in our exchange to place our lay stake, essentially it is the amount that you stand to lose in the exchange if your back bet wins. Remember, this is only lost from the exchange, your back bet winning will cancel out any loss so you’re not actually out of pocket.
Liquidity is the amount of money available in the market for you to bet with. For example, you need to get your bet layed at 3.0 – 2/1, the amount the calculator has advised you to lay is £20. You are betting on a high profile football match and the amount in the market is £800, this is more than enough for you to lay your bet off at £20. You must always make sure there is enough liquidity in the market before you enter your bet to ensure your bet gets matched fully, this is why we always advise betting on high profile events.
Commission is what the exchanges charge for using their service. The two main exchanges we advise are Betfair and Smarkets. Both have pros and cons, Betfair are the most popular exchange and as a result has the most liquidity in the market, however they charge 5% commission. Smarkets charge only 2% commission but have less users so the chances of your bets being matched are slightly less. For all our beginners offers we advise using Betfair, however, once you are more confident Smarkets is a good choice due to the lower %.
When laying your bet at the exchange, always ensure there is enough money (liquidity) in the market to do so. You will notice underneath the lay odds on betfair there is an £ amount shown, this is the amount of money available to lay at these odds. If you needed to lay £15 and there was only £10 available, this would lead to your lay bet being only partially matched. The easiest way to ensure this doesn’t happy is by betting on high profile events (Premier League Football for example)
An arb is a bet that makes a profit even when no bonus is involved. From time to time, while using the Pure Profit odds matching software, you will notice a bet with a rating of 100 or higher, this is an arb. Arbs are created when the bookmaker back odds are higher than the exchange lays odds. These types of bets are not popular with bookmakers and will lead you to losing your bookmaker account if you arb regularly.
Specific instructions that must be followed in order to unlock a free bet or withdraw bonus funds from a bookmaker. These may include restrictions on markets, types of bets that may be placed and the maximum value of individual bets.