1) Sign up for a Betfred account
The first step of any sign up offer is to make an account with the bookmaker. For the Betfred offer you should click the link below and then click 'Claim Here' to make an account, and this will automatically apply the promotion.
You could also just go to the site normally and then type in the promo code 'BETFRED50'. After making an account you might also want to change your odds type from fractional to decimal and then you should come back for step 2.
2) Place the qualifying bet
Once you have made an account, you should deposit £10 so you can place the qualifying bet, this is the bet you need to place with Betfred in order to unlock the free bets.
For this step you will need an account with a betting exchange such as Smarkets, Betfair Exchange, or Matchbook. You will also need around £30 in this exchange account so you can place lay bets.
If you are unfamiliar with betting exchanges or the concept of lay bets then you should quickly read our Guide to Using a Betting Exchange.
When your Betfred and Exchange accounts are ready you should choose an event to place the qualifying bet on.
You want to choose an event where the back odds are as close to the lay odds as possible so you only make a small loss. Also, the back odds need to be higher than 2.0 as this is the minimum odds required for you to unlock the £50 in free bets on Betfred.
Use our Oddsmatcher below to automatically find the events on Betfred that meet the terms & conditions and also have the best back odds and lay odds so you make the smallest loss possible while gaining the £50 in free bets.
Simply click 'Select' on an event and then follow the instructions on the pop up.
Betfred should reward you with £50 in free bet credits within 10 hours of your bet settling, this is when you should go to step 3.
3) Make a Profit from the first £30 in Free Bets
Betfred will reward you with 5 X £10 Free Bets, but 2 of the £10 Free Bets have limitations. The first 3 X £10 Free Bets are the easiest to profit from as they can be placed on any market.
The Oddsmatcher below automatically sorts the events by how much profit they would make you. However, the events with the higher potential profits will also require you to have more liquidity in your exchange account, as they will have higher odds, meaning a larger liability to cover.
Again, just click 'Select' next to the event of your choosing and follow the instructions on the pop up, this time using one of your £10 Free Bets.
Then simply repeat this process 2 times with your other normal £10 Free Bets, and then you will still have 2 X £10 Free Bets left over which can only be placed on accumulator bets with four or more selections. Go to step 4 to learn how to profit from your final £20 in free bets by backing and laying accumulators.
4) Profit from the 2 X £10 Acca Free Bets
You should also have 2 X £10 Free Bets which can only be used on accumulator bets with 4 or more selections. These won't be as easy to guarantee a profit from but it is still very much possible as Smarkets allow you to lay accumulator bets.
Alternatively you could also just 'punt' the £20 worth of free bets (meaning you just bet them normally and don't guarantee a profit).
However if you want to guarantee a profit this is how we recommend you do it.
Go to Betfred and choose 4 high profile football games where the odds for an outcome are between 1.5 and 2.0, and try to choose games where the odds on Betfred and Smarkets are as close as possible. Add the selections to your betslip on Betfred.
Head over to Smarkets and create the lay bet for the above Acca, if you do not know how to do this then check out our guide to laying accumulators, and read 'How to Lay Accumulators on Smarkets'.
You can see the Accumulator Back Odds on Betfred, and, Smarkets should also tell you the combined lay odds. You should use a betting calculator in Free Bet mode to calculate the stake you should use on Smarkets.
Then, if you have enough liquidity ready, you can repeat this process again with your other £10 free bet.