Chelsea host West Ham in the Premier League tonight and you don’t want to miss this 188BET offer! If a red card is shown at any time during Chelsea v West Ham, 188BET will refund losing pre-match 1 X 2, First/Anytime Goalscorer, Correct Score, Half-Time/Full-Time and Both Teams To Score bets as a free bet, up to a maximum of £50.00. Translated into matched betting terms, this gives us a potential profit of £43.38 and here’s how…
Qualifying Bet:
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
Qualifying bets must be placed between 00:01 on Saturday 13th August and 19:45 on Monday 15th August 2016, to be eligible.
There is no way of making this offer risk-free, so we need to place our qualifying bet at tight odds, in order to minimise our qualifying loss. Only losing bets will be refunded in the event that a red card is shown, so we need to place our qualifying bet on a selection that we don’t think will win.
It’s entirely up to you what you place your qualifying bet on, but having looked at the odds available, I’ve opted to place my qualifying bet on Draw/Chelsea in the Half-Time/Full-Time market.
I like to place my exchange lay bets with Smarkets as they have great liquidity, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £46.81…
Place £50.00 on Draw/Chelsea @ 4.85 = Potential profit of £192.50
Lay £46.81 on Draw/Chelsea @ 5.20 = Potential liability of £196.62
Let’s have a look at our potential profit/loss for the possible outcomes…
| Draw/Chelsea | + £192.50 – £196.62 = £4.12 loss |
| Not Draw/Chelsea and red card shown | – £50.00 + £45.88 + £47.50 (extract 95% from our £50.00 stake refund) = £43.38 profit |
| Not Draw/Chelsea and no red card shown | – £50.00 + £45.88 = £4.12 loss |
So, if our Draw/Chelsea bet loses and a red card is shown, we will make a nice profit of £43.38. If our Draw/Chelsea bet wins or there is no red card shown, we’ll have made a loss of £4.12. Risking £4.12 to make a profit of £43.38, gives us effective odds of 11.53, so given that the odds of a red card being shown are only 4.00 with most bookmakers, this is a profitable offer in the long run, even though we need our Draw/Chelsea bet to lose.
Stake refunds just need rolling over once at minimum odds of 1.90 or greater before we are able to withdraw. The above calculations are therefore based on the assumption that, by using straightforward matched betting, we should be able to extract 95% cash from our £50.00 stake refund.
To claim our stake refund, we must email the promotion code ‘CHERED’, our bet ID number and our 188BET member code to promo@188service.com using our registered email address by 23:59 (GMT) on Tuesday 16th August 2016. Free bets will be credited within 48 hours of a successful claim being submitted.
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.