Coral Offer – Irish Grand National

It’s the Irish Grand National at Fairyhouse today and you don’t want to miss this Coral offer! If our horse finishes 2nd, 3rd, 4th or 5th in the 17:00 at Fairyhouse, Coral will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.06 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 walk-through guide on how they should be done.

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, 3rd, 4th or 5th placed finish. Having looked at the odds available, I’ve opted to place my qualifying bet on Killer Crow.

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 stake 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 £9.24…

coral

Place £10.00 on Killer Crow @ 12.00 = Potential profit of £110.00

smarkets white

Lay £9.24 on Killer Crow @ 13.00 = Potential liability of £110.94

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

Killer Crow wins + £110.00 – £110.94 = £0.94 loss
Killer Crow places 2nd 3rd 4th or 5th – £10.00 + £9.06 + £8.00 (extract 80% from our £10.00 free bet) = £7.06 profit
Killer Crow finishes outside top 5 – £10.00 + £9.06 = £0.94 loss

So, we will make a nice profit of £7.06 if Killer Crow places 2nd, 3rd, 4th or 5th and we stand to lose £0.94 on any other outcome. Risking £0.94 to make £7.06 profit gives us effective odds of 8.51, 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 a £10.00 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.