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Milking Bookies

Milking Bookies

By The UK Horse Racing Tipster

With big race festivals coming up every month, whether it's the flat or jump season, as a gambler you will probably be flooded with "Registration Offers" for new members from all the major bookmakers.

For example "Join us and get 5/1 on a hot 1/1 favourite or join us and get 3/1 on a double regarding two hot 4/6 favourites"

For example at Cheltenham 2015 there was the Betfair offer for all members to get 12/1 on a triple for Un De Sceaux to win the Arkle, Annie Power to win the Mares Hurdle and Ptit Zig to win the JLT.

We have also had many great offers on big named horses such as Sprinter Sacre to win a race upped from 1/7 to 1/1 by Coral who lost over a million pounds on that offer - they soon went quiet on their offers after that!

Usually they are aimed at attracting new members to join the site so once you have they have little need for you anymore apart from to lose cash and make them money!

Therefore if you are not a member of 15+ online bookies yet here is a reason you might want to become one.

Milking The Bookies

If you have been reading the news analysis pages and regularly check out the latest bet offers pages then you will know I often mention "milking the bookies".

What does this mean?

Well basically it means waiting for a good opportunity such as an online bookmaker you are not registered with to offer a special enhanced price for joining their site and placing a bet on a hot favourite.

This is usually only for people joining online or by mobile phone or tablet.

Some good examples include Corals 4/1 on Quevega at Cheltenham 2013 or Titanbets 3/1 on Silviniaco Conti a short time afterwards.

If you are already joined up to the bookmakers in question it means looking out for special price boosts where hot favourites are increased in price - sometimes for a very short period such as Corals 15 minutes 1/1 on The New One in 2014.

As you know this site is mainly aimed at lay betting and that is how I make my money from Betfair, trading and laying weak favourites usually between the prices of 2.00 and 5.00.

However when a price boost comes along for existing members or a bookmaker I don't belong to has a special deal for new members then I make it my business to make money from the registration bet offer.

Remember the idea is not to make thousands from back betting, especially as the bookie will limit the amount you can bet. Instead it is to take the price boost and make a relatively risk free back bet or join a new bookie, take the special bet price, withdraw your cash and winnings ASAP and then use the free bet cash you will get on another good bet.

When To Milk The Bookies

I usually find the best time to milk bookies is at the beginning of a big weekend or week of racing such as festivals (Cheltenham, Punchestown, Aintree) or trials weekends for those festivals.

As most bookies will limit the number of days you can use  your free bet for it is wise to be able to place your qualifying (registration bet) on an early good favourite, then withdraw your cash before using your free bet cash on another horse within a few days.

Be-warned some bookies limit the amount of time you can use the free bet cash to just 7 days so:

a) Always read the terms and conditions and,

b) Ensure you have another good horse within that time period to place your bet on.

Bookies will usually not pay back the stake with free bets they give you after you qualify so always ensure your bet is above evens 1/1 otherwise you won't make any money if the horse wins.

Horses We Have Milked On UK Horse Racing Tipster

A list of recent runners who have won their races and have either been price boosts that existing members can use or offers for new members are below. I always put these tips up on my social media sites like Facebook or Google+ so keep an eye out.

Otherwise check the latest bet offers page for the best betting offers around at the moment or just general

WIN - 1/1 on Sprinter Sacre when he was 1/4 in the 2013 Queen Mother Champion Chase to new and existing members of Coral.
WIN - 3/1 on Al Kazeem to new and existing members of Coral - he won!
WIN - Hurricane Fly price boosted as he won his 19th Grade 1 Hurdle another winning tip!
WIN - Annie Power price boosted - she won - winning tip!
WIN - Prime Exhibit price boosted - he won - winning tip!
WIN - The New One - Special 1/1 offer with Coral - he won - winning tip!
WIN - Sire De Grugy - at a great 3/1 - another winning tip!
WIN - Silviniaco Conti or Grandeur at 5/1 on Titanbet as a new joining member!
WIN - A price boost on SkyBet from 8/11 from 4/6 to ALL members, new and existing for Faugheen on the opening day of the 2014 Punchestown Festival.

And hundreds more....

Just keep an eye out on the latest bet offers page for all the new bet offers for new members. A hot favourite in a big race is usually the key to a good "milking".

Bookies Tricks And Tips

Now to ensure you don't throw money away there are some key aspects to milking bookies that you need to have to ensure you make and don't lose money.

Remember the aim is to take the bookies free cash not give them any of yours.

To milk a bookie successfully you need to be able to have:

  1. The ability to win money and then take it back it out ASAP. Not have one last bet, chase a loss or end up running 10+ bookie accounts.
  2. The ability to wait for the right horse and the right race / festival before joining another bookies and betting £X+ for it to win to claim their free £X. Wait for major festivals or weekend trials for those festivals. Trials are best as there is usually less competition so there is more chance of winning.
  3. The ability to get the best price so that you meet the terms for the bookmakers. Some bookies like Betfair let you bet your first race on anything above 1/5Ladbrokes will also let you bet on anything above 1/5.
  4. All bookies are different but nearly all of them don't return the stake in your subsequent bet. So you need to pick the right bookies for the right horse. Don't waste a 1/5 qualifying bet if your runner has a price of 6/4.
  5. The ability to pick the right horse to use your free bet cash on and return that to your bank as well. Most bookies offers say that the free bet cash has to be used on a horse with odds of 1/1 or more. I usually try to find a strong favourite just above evens e.g 6/4 or 11/8 to ensure I keep the free bet money so that I get to return that to my bank as well as the winnings from earlier.
  6. The ability to keep an eye out for special price boosts when you have milked all the bookies. New ones do pop up but not all are safe. Therefore when you have run out of bookies to milk you should keep checking my latest bet offers page for special price boosts.

Conclusion

So remember, milking bookies is about obtaining free registration cash NOT good prices.

If you can get both then that's a bonus but it less likely and more risky.

SkyBet and Coral usually do a daily price boosts on two favourites at increased prices and if you are in SkyBets free bet club I would suggest looking into that to make your free bet each week.

The key thing though is to always, always, put your winnings back into your bank account ASAP. It's no fun if you don't get to spend your winnings!

So if you can wait a good while between placing back bets, as professional gamblers do who only place a few big bets each year, then you are on the right track.

However if you HAVE to bet every day I suggest contacting Gamblers Anonymous.

You need patience to beat the bookies at their own game!

Good luck.

You can read some more articles about milking bookies here:

A guide to milking the bookies.

A successful day milking the bookies on Cheltenham Trials day 2014.

Milking the bookies and taking the right chances when you can.

The Free Bet System.

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