188BET Offer – Ascot, Newmarket, York and Musselburgh

There’s plenty of horse racing to get our teeth into today and you don’t want to miss this 188BET offer! Simply place bets on the racing at Ascot, Newmarket, York or Musselburgh and 188BET will refund 10% of our net losses as a free bet, up to a maximum of £50.00. Translated into matched betting terms, this gives us a guaranteed profit of £12.00-£20.00 and here’s how…

The Terms:

A minimum of two (2) bets, must be placed at odds of 2.00 (evens) or greater, to be eligible.

188BET will refund 10% of our Ascot, Newmarket, York and Musselburgh net losses on bets placed and settled between 00:01 and 18:00 today (Friday 8th July 2016). Refunds will be in the form of a free bet, which will be credited by 07:00 on Saturday 9th July 2016. Free bets must be wagered once (1) on horse racing, at minimum odds of 2.00 (evens) or greater, before any withdrawals can be made.

Qualifying Bets:

In order to claim the maximum bonus refund of £50.00, we need to have net losses totaling £500.00.

My personal preference for this offer is to place our first qualifying matched bet and then we can assess things before placing our final qualifying bet. The minimum stake for this offer is £10.00 but placing a small bet of £10.00 followed by a large bet in the region of £500.00 is likely to arouse suspicion. I therefore recommend a stake size of £100.00 for our first qualifying bet.

Say, for example, our first £100.00 qualifying bet wins at odds of 3.00… Our net profit at that point would be £200.00. We would then need to stake £700.00 on our second bet to get the maximum £50.00 bonus refund. If our first £100.00 qualifying bet loses, we would then need to stake £400.00 on our second bet to get the maximum £50.00 bonus refund.

If you’ve read my risk-free bet strategy guide, you’ll know that the higher the odds we place our qualifying bet at, the more profit we can lock in. This does, however, depend on your bankroll.

It’s entirely up to you which horses you place your qualifying bets on. For the purposes of the following example, we’ll assume our first qualifying bet has lost for a small qualifying loss of £5.00. I’ve opted to place my second qualifying bet on Symbolic in the 17:15 at Ascot.

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 work out our lay stake by selecting the ‘Risk-Free Bet’ option on 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 £380.51…

188BET logo

Place £400.00 on Symbolic @ 4.00 = Potential profit of £1,200.00

smarkets white

Lay £380.51 on Symbolic @ 4.10 = Potential liability of £1,179.60

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

Symbolic wins + £1200.00 – £1179.60 = £20.40 profit
Symbolic doesn’t win – £400.00 + £372.90 + £47.50 (extract 95% from £50.00 free bet) =£20.40 profit

So, regardless of the result of the race, we will make a profit of £20.40 on this 188BET offer!

Of course, it all depends on the net profit/loss of our account after our first qualifying bet and what odds are available for the second qualifying bet, but having taken into account my projected qualifying loss of £5.00, we should be able to make a guaranteed profit of somewhere between £12.00 and £20.00 on this 188BET offer!

Stake refunds just need rolling over once at minimum odds of 2.00 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 free bet.

* I lost my first qualifying bet for a loss of £5.77 and I was able to make £20.40 profit on my second qualifying bet, giving me an overall profit of £14.63 on this 188BET 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.