Paddy Power Offer – England v Iceland

England face Iceland tonight and Paddy Power are getting in on the action! Simply bet £20.00 on either England or Iceland to win the match and Paddy Power will give us a £5.00 free bet for every goal our team scores in the match! Translated into matched betting terms, this gives us a potential profit of £15.64 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.

It’s entirely up to you who you place your qualifying bet on, as long as you place it on either England or Iceland in the Win-Draw-Win market. I’ve opted to place my qualifying bet on the favourites, England.

WARNING: Following the recent merger between Paddy Power and Betfair, to become Paddy Power Betfair, it’s no longer a good idea to place our lay bets with Betfair as this will surely increase our chances of getting restricted. Therefore, when doing Paddy Power offers, we need to place our lay bets with Smarkets. They have great liquidity, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by Betfair. We can also grab a £10.00 risk-free bet, just for signing up.

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 £20.04…

paddypower

Place £20.00 on England @ 1.533 = Potential profit of £10.66

smarkets white

Lay £20.04 on England @ 1.55 = Potential profit of £11.02

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

England win + £10.66 – £11.02 = £0.36 loss
England don’t win – £20.00 + £19.64 = £0.36 loss

So, regardless of the result of the match, we will lose £0.36 in qualifying for our potential free bets.

Free Bets:

For every goal that England score in the match, we will receive a £5.00 free bet within approximately 10 minutes of the match finishing. Free bets will be valid on football matches for 48 hours and free bet stakes are not included with any returns.

By using straightforward matched betting, we should be able to extract 80% of any free bets as cash.

Therefore, if England are able to score 4 goals in the game, we would receive £20.00 in free bets, from which we would extract £16.00 cash. If we take into account our qualifying loss of £0.36, this gives us a potential profit of £15.64 on this Paddy Power offer.

* England lost the match 2-1, meaning I made a profit of £3.64 on this Paddy Power offer. *

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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.