It’s been a quiet week so far but Sky Bet are ramping things up with a fantastic offer on today’s horse racing. If our horse wins the 1.30 at Sedgefield this afternoon, Sky Bet will match our winnings with a free bet! Translated into matched betting terms, this gives us a guaranteed profit of £4.92 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.
The maximum stake for this offer is £10.00 and we can’t place our qualifying bet on the unnamed favourite or unnamed second-favourite. The best way to do these offers is to select a horse with long odds.
Having looked at the odds available, I’ve opted to place my qualifying bet on Nautical Twilight who has back odds of 11.00 and lay odds of 12.50. We know that if our horse wins, our bet will be paid out in cash at normal odds with the double winnings paid as a free bet.
Therefore, if we place £10.00 on Nautical Twilight at odds of 11.00, it will return £110.00 in cash and a £100.00 free bet. We know we can extract 80% from any free bet, which gives us total returns of £190.00 and effective odds of 19.00. We can enter these effective odds on the matched betting calculator to calculate our lay stake.
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.
Place £10.00 on Nautical Twilight @ 11.00 = Potential profit of £100.00
Lay £15.22 on Nautical Twilight @ 12.50 = Potential liability of £175.08
Let’s have a look at our potential profit/loss for the possible outcomes…
| Nautical Twilight wins | +£100.00 – £175.08 + £80.00 (extract 80% from our £100.00 free bet) = £4.92 profit |
| Nautical Twilight doesn’t win | -£10.00 + £14.92 = £4.92 profit |
So regardless of the result of the race, we will make a guaranteed profit of £4.92 on this Sky Bet offer!
If you’re unsure how to extract 80% of free bets, 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
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.