It’s time for another Goodwood Skybet free bet offer! If the favourite wins the Goodwood Stakes (1:55) at Goodwood on Wednesday, Skybet will refund all losing outright bets on that race as a free bet up to £25.00. Translated into matched betting terms, this gives us a risk-free potential profit of £9.53 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.
For this particular offer, we need to select a horse that isn’t likely to start the race as the favourite. Maid in Rio looks odds on to start as the favourite at odds of around 2.50. Having looked at the other odds on offer, I’ve opted to place my qualifying bet on Solar View.
Place £25.00 on Solar View @ 12.00 = Potential profit of £275.00
Lay £22.30 on Solar View @ 13.50 = Potential liability of £278.75
Let’s have a look at our potential profit/loss for the possible outcomes…
| Solar View wins | +£275.00 – £278.75 = £3.75 loss |
| Maid in Rio wins | -£25.00 + £21.19 + £20.00 (extract 80% from our £25.00 free bet) = £16.19 profit |
| Neither wins | -£25.00 + £21.19 = £3.81 loss |
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
So as things stand we will make £16.19 profit if Made in Rio wins. Unfortunately, we also stand to lose a maximum of £3.81 on any other outcome and so we need to insure ourselves against this by laying the favourite at the betting exchange. In order to calculate our lay stake, we need to divide £3.81 by 0.95 to account for the 5% commission. This gives us a lay stake of £4.01.
Lay £4.01 on Made in Rio @ 2.66 = Potential liability of £6.66
Let’s have a look at our overall profit/loss for the possible outcomes…
| Solar View wins | -£3.75 + £3.81 = £0.06 profit |
| Made in Rio wins | £16.19 – £6.66 = £9.53 profit |
| Neither wins | -£3.81 + £3.81 = £0.00 |
So if Made in Rio doesn’t win, we will break even and there’s no harm done. However, if Made in Rio justifies his favourite tag by winning the Goodwood Stakes, we will make a nice profit of £9.53!
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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.