Bonus Arbritrage

For those that don't have Bet365 accounts already, they're giving away £200 when you sign up to a new account. This is a great bonus to take risk-free advantage of with Bonus Arbing via Betfair.

It's unlikely(though not impossible) for you to find a +ev bet to arb but a neutral ev or even slightly -ev bet is fine since we're doing it with free money. The idea is to bet the max £200 then lay it off on the exchanges.
There is a work through requirement of 3x the bonus amount but this doesnt matter, the idea is we want to lose on bet365 and win on betfair before we hit the work through and if we haven't done it after the 3 bets we can just withdraw from Bet365 anyway.
Heres how's it's done:
Step 1: Deposit £200 with Bet365 and bet it all on Team X @ evens(example price).
Lay off Team X on Betfair @ 2.02(or if you're lucky 1.90).
We take a small loss(or profit) on this match but get £200 free from Bet365.
Step 2: repeat Step 1 on the next match if we win on Betfair we're done and £200(- the small loss from the arbs) richer. If not we repeat again until we win on betfair or hit the workthrough requirements and withdraw our profit from Bet365.
An easy way to make some risk-free money!