Betway Offer – Chelsea v Man Utd

Chelsea face Manchester United this afternoon and Betway are getting in on the action. Place a bet on Chelsea v Manchester United and if there are 3 or more goals scored in the match, Betway will refund losing stakes as a free bet up to a maximum of £20.00. Translated into matched betting terms, this gives us a potential profit of £14.71 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 at minimum odds of 1.75 (3/4) or above. Total Goals and Correct Score markets are excluded from this promotion. With that in mind, it’s probably best to stick to the Match Odds market.

It’s entirely up to you what you place your qualifying bet on. Having looked at the odds available, I’ve opted to place mine on Manchester United as that outcome has the highest odds and is therefore most likely to lose.

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 stakes using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £
Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £19.10…

betway

Place £20.00 on Man Utd @ 3.80 = Potential profit of £56.00

smarkets whiteLay £19.10 on Man Utd @ 4.00 = Potential liability of £57.29

Let’s have a look at our potential profit/loss for the three outcomes…

Man Utd win + £56.00 – £57.29 = £1.29 loss
Man Utd don’t win and 3+ goals – £20.00 + £18.71 + £16.00 (extract 80% from our £20.00 free bet) = £14.71 profit
Man Utd don’t win and less than 3 goals – £20.00 + £18.71 = £1.29 loss

So we will make a nice profit of £14.71 if Man Utd don’t win and there are 3 or more goals in the game. Any other outcome and we stand to lose £1.29. This gives us effective odds of 12.40, which I’m sure you’ll agree makes this a profitable offer in the long run.

If you’re unsure how to extract 80% of our £20.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.