Paddy Power Offer – Norfolk Stakes

Why bother looking for horse racing tips today, when you can do a bit of matched betting and make low-risk profits?  Paddy Power are back with another Money Back Special on Thursday’s horse racing.  If your horse finishes 2nd or 3rd in the 14:30 Norfolk Stakes at Ascot race course, Paddy Power will refund all losing outright bets on that race as a free bet up to £50.00.  Translated into matched betting terms, this gives us a potential profit of £36.10 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.

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 or 3rd placed finish. Having looked at the odds on offer, I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on the current favourite, King of Rooks.  We can work out our lay stake using the matched betting calculator.

Ordinarily, I would use the Betfair Exchange to place my lay bets but Ladbrokes are running a fantastic offer on their Exchange.  We can get 1% commission on the first race at Ascot every day this week.

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

So we will make a nice profit of £36.10 if King of Rooks places 2nd or 3rd and we stand to lose £3.90 on any other outcome. A £3.90 risk to make £36.10 profit gives us effective odds of 10.26, so the fact that King of Rooks is 1.25 to place in the top 3, makes this a very profitable offer in the long run.

If you’re unsure how to extract 80% of our £50.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.