188BET Offer – 15:50 Ascot

Why bother looking for horse racing tips today, when you can do a bit of matched betting and make low-risk profits?  Goldie Horn is the clear favourite to win the King George VI and Queen Elizabeth Stakes, so this 188BET offer is well worth a look.  If our horse finishes 2nd in the 3:50 at Ascot race course, 188BET will refund all losing outright bets on that race as a free bet up to £25.00.  Translated into matched betting terms, this gives us a potential profit of £17.27 and here’s how…

Qualifying Bet:

If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walkthrough guide on how it should be done.

If our horse finishes 2nd, we must email the promotion code KING25, bet ID and 188BET Member code to promo@188service.com from our email address that is registered with 188BET, by 23:59 GMT+1 on Sunday 26th July 2015.

It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd placed finish.  Having looked at the odds on offer, I’ve opted to place my qualifying bet on Clever Cookie.

I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, 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 the matched betting calculator.

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Place £25.00 on Clever Cookie @ 5.80 = Potential profit of £120.00

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Lay £22.73 on Clever Cookie @ 6.40 = Potential liability of £122.73

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

Clever Cookie wins £120.00 – £122.73 = £2.73 loss
Clever Cookie finishes 2nd -£25.00 + £22.27 + £20.00 (extract 80% from our £25.00 free bet) = £17.27 profit
Clever Cookie places outside top 2 -£25.00 + £22.27 = £2.73 loss

So we will make a nice profit of £17.27 if Clever Cookie finishes 2nd and we stand to lose £2.73 on any other outcome. A £2.73 risk to make £17.27 profit gives us effective odds of 7.33.  At the time of writing, Clever Cookie is odds of 5.80 to win and odds of 1.80 to place in the top 2.  This means that the odds of Clever Cookie finishing 2nd are currently 2.61, making this a profitable offer in the long run.

If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough 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.