We reviewed this back in August 2014 when it was essentially a matched betting service using bookie offers. However, since then it has morphed into an entirely different beast due to the issues many members were getting with bookie restrictions and closures.
Betting Bounty was always about making very low risk, or zero risk bets that enabled you to make a relatively good income without having to spend much time at it. What they have developed is a new way to do this using ONLY Betfair.
This is a game changer.
The idea is that you can pick up an average of £10 profit on each bet and there are an average of 27 profitable bets a month, so you are looking at a profit of around £270 a month for spending a few minutes placing almost risk free bets.
So how does it work?
Well, it’s actually quite clever. If you’ve ever been to the races you’ll have noticed the line of on-course bookmakers, those weathered looking chaps stood by little pop up stands with blackboards chalking up the odds they are offering on each horse.
Of course, back in the good old days, these guys worked in the same way any bookmakers did… they built a ‘book’ by taking a view on the race and offering odds on each selection so that, no matter what horse won they would usually extract a small percentage profit in the over round. So they were very skilled at mental arithmetic, able to change the odds at lightening speeds depending on how much had been bet on each horse.
Since the introduction of betting exchanges though, it’s all changed. Now when you go to these on-course bookies, you’ll still see the chap at the front with his blackboard (although many now have digital boards updating automatically), but if you look behind his stand you’ll see his companion with a laptop and high speed internet dongle logged into Betfair. What are they doing? They’re looking at the Betfair market to decide what prices to offer. Instead of taking a view themselves, they’re simply following the market. Many are hedging their book on Betfair so that as the money comes in they’re covering their liabilities, plus of course they are taking cash from the punters that can actually see the horses lining up and have more of an idea of how they will run.
The net result is that under certain circumstances the odds on particular horses on Betfair will temporarily swell due to the activities of the on-course bookies, and then drop again when the market adjusts.
It’s this effect that Betting Bounty takes advantage of and gives us an opportunity to make some risk free cash.
As a subscriber you get sent generally three selections a day. Then, at a pre-determined time before the off, you look on Oddschecker for a certain event to take place. Once it does you place your back bet on Betfair and then wait a few minutes for the odds to drop. You then place a lay bet on the same selection giving you a risk free bet. You can hedge out if you prefer.
What happens if the odds don’t shorten? You still place your lay bet at the same price or at a slightly increased price resulting in a small loss.
To give you an idea of liabilities, if you are placing £100 trades you are only actually risking £1-£2 on most trades.
So far, the profit to £100 stakes (£1-£2 risk) has been:
Nov = £217.24
Dec = £421.79
Jan = £2.76
Feb = £325.14 (to date)
The profit for all of 2016 was £2,678, virtually risk-free.
This is a very neat service that takes little time to operate and does deliver quite impressive profits in relation to the amount risked. The fact that all the betting is done on Betfair is obviously very appealing to a lot of seasoned bettors with restricted bookie accounts.
You can try it out HERE
UPDATE October 2017
Since January this year Betting Bounty has averaged 15 selections per week with 5 winners. Of those 5 winners 4 have been profitable trades for an average monthly profit of £197 but we saw £459 in February and £389 in August which takes the yearly profit to around £2,623.