The US PGA Championship 2016 tees off on Thursday and you don’t want to miss this Ladbrokes offer! Simply place an in play bet on the US PGA Championship Outright Winner market and if our selection finishes 2nd or 3rd (including ties), Ladbrokes will refund our stake as a free bet, up to £25.00. Translated into matched betting terms, this gives us a potential profit of £18.86 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 in play on the US PGA Championship Tournament Winner market between the start of the 1st round (12:00 on Thursday 28th July 2016) and the end of the 2nd round (scheduled to finish late on Friday 29th July 2016).
My advice for this offer is to wait until the end of the 1st round and see what the odds look like at that time. If any of the pre-tournament favourites have a strong first round and sit at the top of the leaderboard, it’s likely that their odds will be much lower than they are at the time of writing.
I’ve therefore used fictional odds in the following example and I’ll update the post with my actual selection at the end of the 2nd round.
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 £24.35…
Place £25.00 on Dustin Johnson @ 3.00 = Potential profit of £50.00
Lay £24.35 on Dustin Johnson @ 3.10 = Potential liability of £51.14
Let’s have a look at our potential profit/loss for the possible outcomes…
| Dustin Johnson wins | + £50.00 – £51.14 = £1.14 loss |
| Dustin Johnson finishes 2nd or 3rd | – £25.00 + £23.86 + £20.00 (extract 80% from our £25.00 free bet) = £18.86 profit |
| Dustin Johnson finishes outside top 3 | – £25.00 + £23.86 = £1.14 loss |
So, if Dustin Johnson finishes 2nd or 3rd (including ties), we’ll have made a profit of £18.86. Any other outcome and we’ll have made a loss of £1.14. Risking £1.14 to make a profit of £18.86, gives us effective odds of 17.54, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If Dustin Johnson finishes 2nd or 3rd, free bet refunds will be credited within 24 hours and will be valid for 7 days.
If you’re unsure how to extract 80% cash from a £25.00 free bet, please see my free bet strategy page for a walk-through guide on how it should be done.
* I actually placed my qualifying bet on Rickie Fowler at back odds of 17.00 and lay odds of 17.50. Rickie Fowler finished outside the top 3, meaning I made a loss of £1.17 on this Ladbrokes offer. *
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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.