Do any of you friendly knowledgeable people know of any tickets which give unlimited travel on the underground. I am in Madrid for 5 days from May 19th and was wondering if it is cheaper to pay for Metro tickets individually or do they have any special tickets /books which, for example, let me do 10 rail trips for a far cheaper price.
Over here in England / Liverpool we have a zone ticket which last for 1 day and gives you unlimited travel on trains / ferries and buses, all for a really decent price. Thanks in advance.

Just go to MadridMan's " Local Transportation " section for info on the Metro in Madrid. There is a link to the Metro website and they do have a discount package. The one way fare is 1.10 Euros and the 10 Trip costs 5.20 Euros.

The "bono de diez" ten-ride ticket for 5.20 Euros is definitely the way to go unless you happen to be staying for a much longer period of time and can take advantage of the monthly passes. You can even use the Metro to and from Barajas airport for a single fare.

can i buy the bono de diez in the station at the airport and if so where?
Thanks,Chris.

The 10 trips ticket is called Metrobús. You can buy it at any subway station (including the one at the airport), at a tobacconist and at most newstands.