There’s another big day of racing at Punchestown today and Paddy Power are running a tasty little price boost on the action. They’ve enhanced Vroum Vroum Mag and On The Fringe both to win from 7/2 to a tasty 5/1! Translated into matched betting terms, this gives us a risk-free potential profit of £24.35 and here’s how…
Price Boost Bet:
The maximum stake for this offer is £20.00.
Place £20.00 on Vroum Vroum Mag & On The Fringe both to win @ 6.00 = Potential profit of £100.00
WARNING: Following the recent merger between Paddy Power and Betfair, to become Paddy Power Betfair, it’s no longer a good idea to place our lay bets with Betfair as this will surely increase our chances of getting restricted. Therefore, when doing Paddy Power offers, we need to place our lay bets with Smarkets. They have great liquidity, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by Betfair. We can also grab a £10.00 risk-free bet, just for signing up.
Race 1: 17:30 Punchestown
On the first race, we need to cover our original stake of £20.00. If we divide £20.00 by 0.98 (to account for the 2% Smarkets commission), this gives us a lay stake of £20.41.
Lay £20.41 on Vroum Vroum Mag @ 2.34 = Potential liability of £27.34
| If Vroum Vroum Mag wins | – £27.34 = – £27.34 |
| If Vroum Vroum Mag doesn’t win | – £20.00 + £20.00 = £0.00 |
So if Vroum Vroum Mag doesn’t win, the offer will be over and we’ll have broken even. However, if Vroum Vroum Mag does win, we will have lost £27.34 so far.
Race 2: 19:45 Punchestown
So, if Vroum Vroum Mag wins, this means on the next race, we need to cover both the £27.34 loss from the first race plus the original stake of £20.00. If we divide £47.34 by 0.98 (to account for the 2% Smarkets commission), this gives us a lay stake of £48.31.
Lay £48.31 on On The Fringe @ 2.00 = Potential liability of £48.31
| If On The Fringe wins | – £27.34 – £48.31 + £100.00 = £24.35 profit |
| If On The Fringe doesn’t win | – £20.00 – £27.34 + £47.34 = £0.00 |
So if either Vroum Vroum Mag or On The Fringe fails to win along the way, we’ll have broken even and there’s no harm done. However, if they both both win, we’ll have made a nice risk-free profit of £24.35!
I’d like to point out that the above workings are based on the lay odds that were available at the time of writing. If the lay odds fluctuate before we are able to place our lay bets, this may result in us making more potential profit, less potential or even a slight loss, so please bear that in mind before deciding whether or not to do this 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.