NetBet Cheltenham Offer – Gold Cup Day

It’s Gold Cup Day at the Cheltenham Festival 2016 and NetBet are getting in on the action. Simply make a deposit using bonus code ‘GOLDCUP16’ and NetBet will give us a 50% bonus up to a maximum of £25.00. Not only that, but NetBet will give us 20% cashback on our Gold Cup Day net losses. Translated into matched betting terms, this gives us a guaranteed profit of £18.23 and here’s how…

Qualifying Bet:

In order to claim the full £25.00 bonus, we will need to deposit £50.00 using bonus code ‘GOLDCUP16’ before 17:30 on Friday 18th of March.

We must wager our £50.00 deposit once on any horse racing market at odds of 2.00 (evens) or greater to receive the £25.00 bonus upon our qualifying bet being settled.

Having looked at the odds available, I’ve opted to place my qualifying bet on Cue Card in the Gold Cup (3.30 Friday 18th March 2016).

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 use my matched betting calculator to calculate our lay stake…

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 £49.21…

NetBet

Place £50.00 on Cue Card @ 5.00 = Potential profit of £200.00

smarkets white

Lay £49.21 on Cue Card @ 5.10 = Potential liability of £201.77

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

Cue Card wins + £200.00 – £201.77 = £1.77 loss
Cue Card doesn’t win – £50.00 + £48.23 = £1.77 loss

So, regardless of the result of the race, we will lose £1.77 in qualifying for our £25.00 deposit bonus.

Bonus:

Our deposit bonus will be credited to our accounts as soon as our qualifying bet has been settled.

We must roll over our bonus + deposit x 3 on sporting events at odds of 2.00 (evens) or greater to be able to withdraw the bonus amount. Therefore (£25.00 + £50.00) x 3, gives us a rollover requirement of £225.00, which must be completed within 3 days.

By using straightforward matched betting, we should be able to extract 80% of our bonus as cash, so £20.00. If we take into account our qualifying loss of £1.77, we should make a guaranteed profit of £18.23 on this NetBet offer.

Don’t forget, depending on how our bets go, we may also qualify for a 20% refund on net losses up to a maximum of £20.00. If our qualifying bet and bonus bet both lose, we will be due a £10.00 cashback bonus, meaning we could make as much as £26.23 on this offer. If we do qualify for a cashback bonus, it will be credited within 24 hours of our bets being settled.

* Cue Card didn’t win the Gold Cup and I lost my bonus at the first time of asking. I therefore qualified for a £10.00 cashback bonus (20% of my £50.00 net loss), from which I was able to extract £8.00, giving me an overall profit of £26.23 on this NetBet 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.