There’s a big day of racing at Newmarket today and you don’t want to miss this Ladbrokes offer! If Rhododendron or Hydrangea wins the Fillies’ Mile (15:10) at Newmarket, Ladbrokes will refund all losing mobile bets as a free bet up to £25.00. Translated into matched betting terms, this gives us a potential profit of £17.76 and here’s how…
Qualifying Bet:
This offer is only available to new and existing MOBILE customers.
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed between 08:00 and 15:10 today (Friday 7th October 2016), to be eligible.
We need to place our qualifying bet on any horse other than Rhododendron and Hydrangea. Having looked at the odds available, I’ve opted to place my qualifying bet on Sobetsu.
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 my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £23.22…
Place £25.00 on Sobetsu @ 3.00 = Potential profit of £50.00
Lay £23.22 on Sobetsu @ 3.25 = Potential liability of £52.24
Let’s have a look at our potential profit/loss for the possible outcomes…
| Sobetsu wins | + £50.00 – £52.24 = £2.24 loss |
| Rhododendron or Hydrangea wins | – £25.00 + £22.76 + £20.00 (extract 80% from our £25.00 free bet) = £17.76 profit |
| Another horse wins | – £25.00 + £22.76 = £2.24 loss |
So, if Rhododendron or Hydrangea wins, we will make a nice profit of £17.76. Any other outcome and we’ll lose £2.24. Risking £2.24 to make a profit of £17.76, give us effective odds of 8.93, so given that Rhododendron and Hydrangea are odds of 5.50 and 7.00 respectively to win, this a profitable offer in the long run.
If Rhododendron or Hydrangea wins, mobile customers will receive their free bets within 24 hours of the race finishing and will be valid for 7 days.
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Rhododendron won the race, meaning I made a profit of £17.76 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.