You are very unlikely to get 100% equity on a free bet. If you have a free bet at evens, it will win 50% of the time meaning that your equity from a $10k free bet is £5k.
So ppl try to put these bets on long shots. If you put your $10k bet on a 9/1 shot you will get £90k 10% of the time, so your equity goes up to $9k.
The problem then is that you are v likely to lose, so ppl try to find bets where they can back a longshot with the free bet and hedge on a good fav. These are quite rare and with a $10k bet much rarer - and you might have to put $100k on the other side. This free money seems quite like hard work
edit sry I see that you realise that you won't get full equity - but it still might not be easy to get both sides on
Last edited by davmcg; 09-23-2021 at 01:22 PM.
Reason: skim reading