Matched Betting – Claiming Your SNR Bonus Money
Stake Not Returned (SNR) bonuses are often called “Freebets” and are provided as literally that; you are effectively given a â€˜betting tokenâ€™ and you are free to place that betting token on any bet within the terms of the freebet. If your bet loses you get nothing, just like normal, but if your bet wins you get the winnings minus the original stake (hence the SNR name) because the original stake was just a freebet – it has no real value.
So if you win a bet on odds of 3.5 placed with a $50 freebet, you will receive $125 in your account and the freebet will disappear (having been used to win the bet). If you had have placed the same bet with real money, you would have received $175 – $125 in winnings and your original $50 bet returned.
So in order to turn your freebet into real money, you canâ€™t just arb like normal, you have to factor in the fact that the original stake is not returned. Since this complicates the maths a little you donâ€™t want to have to rush through the calculations when trying to place an arb, and you also don’t want to be stuck placing only a $25 freebet on one side of the arb when you could place a few hundred on it…. As such, I tend to leave my freebets to the side until a quiet period, and then manually look for the best odds to use my freebet on. Rather than rushing it, simply use a slow period to turn your virtual money into real money.
Matched Betting
In order to best do this, you want to find the longest odds that you can practically use, and match those odds up with a complimentary set of odds at another bookmaker – like an arb, you want to cover all possible outcomes, but with a freebet it is not absolutely necessary to have an arbitrage situation. Of course, having an arb situation is better because you will make more money, but not necessary. Because the arbitrage side of it isn’t necessary, this practice is commonly called Matched Betting.
So for a simple example you would ideally find odds of around 10.00 for your freebet on, say, a tennis player, and you then find odds of 1.11 on their competitor at another bookmaker (a slightly negative return for a normal arb, but great for claiming SNR bonuses). You place your $50 freebet on the odds of 10.00, to possibly receive $450 if it wins ( $50 x 10 = $500 – $50 = $450 ). You have now basically insured a bet on the favourite (the 1.11 odds) up to a value of $450, so you might as well place that bet: $450 Ã· 1.11 = $405. So place $405 of real money on 1.11 and if the favourite wins (most likely) you will make $44.55 ($405 x 1.11 – $405), while if the underdog wins you will make $45 ($50 x 10.00 – $50 – $405). The end result is to turn a virtual $50, into a completely real $45 without any real risk of losing it. Any other method of using the freebet will either risk losing it completely, or provide a lower return.
So while odds of 10.00 for your freebet vs odds of 1.11 (or higher!) for the matched bet are just about ideal, you canâ€™t always get the ideal. What you need to be able to do is just run through all of the maths for each possible bet combination that you can find. You really want to find two complimentary odds to do this – 3 way bets will really reduce your potential profit. So you need to find situations where you can bet on long odds with your freebet, and then cover all other possible outcomes at another bookmaker in one single bet. You then need to work through the simple maths just like in the example above: How much will the freebet pay out if it wins? This amount insures your matched bet up to that amount, so how much can you bet to optimise for the most guaranteed profit? If you can guarantee keeping 80% or more of the total freebet, then that isnâ€™t too bad.
If you are at all confused, just take the time to work through a few examples:

Place a freebet on odds of 2.00, and cover it on odds of 2.00 – how much profit do you take?

Place a freebet on odds of 1.11, and cover it on odds of 10.00 – how much profit do you take?

Place a freebet on odds of 2.00, and donâ€™t cover it. You have a 50% chance of winning $50, which translates into a profit of up to $25 over the long run.

If you can get a freebet on odds of 10, compare the difference in profit from complimenting that on odds of 1.10 vs 1.20. (0.91% vs 6.67%)
When you work through these basic examples it should become clear that placing your freebet on long odds is far superior to all of the other options.
Recap
SNR Freebets won’t be mixed in with your real money, and usually can’t even be bet alongside real money – you need to place your freebets specifically in order to bet them out. Matched Betting is the best way to do this, but placing your freebet on long odds and matching those long odds against its compliment at a competing bookmaker. Ideally, your freebet will lose, and you will have just won a good amount at the competing bookmaker without any risk. Your freebet disappears, but you now have real profit elsewhere.