There’s a big day of racing at Navan on Sunday and it’s time for another Sky Bet Special! If our horse finishes 2nd in the 15:10 at Navan, Sky Bet will refund our stake as a free bet, up to a maximum of £20.00. Translated into matched betting terms, this gives us a potential profit of £15.22 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 walk-through guide on how they 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 place finish.
At the time of writing the odds are poor, so I’ll use fictional odds in the following example and I’ll update the bottom of the post with my actual selection after the race.
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 stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £19.61…
Place £20.00 on Sutton Place @ 1.667 = Potential profit of £13.34
Lay £19.61 on Sutton Place @ 1.72 = Potential liability of £14.12
Let’s have a look at our potential profit/loss for the possible outcomes…
Sutton Place wins | + £13.34 – £14.12 = £0.78 loss |
Sutton Place places 2nd | – £20.00 + £19.22 + £16.00 (extract 80% from our £20.00 free bet) = £15.22 profit |
Sutton Place finishes outside top 2 | – £20.00 + £19.22 = £0.78 loss |
So, we’ll make a nice profit of £15.22 if Sutton Place places 2nd and we stand to lose £0.78 on any other outcome. Risking £0.78 to make a profit of £15.22 gives us effective odds of 20.51, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If you’re unsure how to extract 80% of a £20.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
See my Horse Racing Offers page for a full list of money back offers available today!
* I actually placed my qualifying bet on Sutton Place at back odds of 1.667 and lay odds of 1.73. Sutton Place won the race, meaning I made a loss of £0.89 on this Sky Bet 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.