I joined Bet770 recently to take advantage of their £70 no lose bonus. I placed a bet and underlayed at betfair. The bet lost (won at Betfair), so I thought job done. I had no desire to use them again.
About a month later I received an email offering a 50% deposit bonus up to £200. The requirements for the bonus was to stake 4x the bonus before you could request a withdrawal. Seemed like a juicy bonus, so I went for it. I deposited £400 and received a £200 bonus. I decided to rollover the bonus in small bets as I didn't want to be restricted with this bookmaker if they offered such juicy bonuses. I staked £50 per bet and made 16 bets.
I wasn't able to withdraw my winnings, the cashier screen stated I still had to wager £110. I couldn't understand this so I sent them an email. They replied saying the £110 was the rollover for the previous £70 no lose bonus. I expected the requirements to be voided when I lost my entire deposit. I thought no biggie and placed another 2 bets totaling £110. After these were settled I still couldn't withdraw. My balance was £420.50 and I could withdraw £220.50. Again I couldn't understand so sent another email. They replied saying I had completed the rollover requirements and could withdraw the £220.50, but the bonus wasn't withdrawable. The bonus terms stated you needed to stake 4x the bonus to be able to withdraw your winnings, but didn't stat the bonus itself wasn't withdrawable, but no doubt they have it covered, concealed in their T & C's. At this point I had lost £27 mainly down to Betfair commission.
I was very annoyed about this as I had only come across sticky bonuses in casinos. I started to think how can I at least cover my loss. I have requested a withdrawal for the £220.50. My intention is to find a market with odds of about 4.0. I will then stake the entire £200 bonus money. I will lay (hopefully at the same odds) £150. If the bet wins I win £600 at the bookmaker and lose £450 at Betfair = £150 profit. I can the withdraw the £600 and repeat the process. If the bet loses I lose the £200 bonus, which wasn't withdrawable anyway and win £150 at Betfair. So that equals £142.50 minus the £27 loss equals £115.50 profit.
I wanted to warn people if you have benefited from a Bet770 bonus then the bomus requirements remain when you re-deposit. Can anyone tell me if my method of extracting the bonus as described above is flawed or is there is a better way to do it.