Glorious Goodwood 2016 continues on Wednesday and Unibet are getting in on the action! If our horse finishes 2nd or 3rd in the 14:00 at Goodwood, Unibet will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.55 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.
To be eligible, we must bet exactly £10.00 on the winner market (each way bets will not be included) of the 14:00 at Goodwood on Wednesday 27th July 2016.
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. At the time of writing, the lay odds are pretty poor, so I’ll use fictional odds in the following example and I’ll update the bottom of this 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 £9.75…
Place £10.00 on The Cashel Man @ 7.00 = Potential profit of £60.00
Lay £9.75 on The Cashel Man @ 7.20 = Potential liability of £60.45
Let’s have a look at our potential profit/loss for the possible outcomes…
| The Cashel Man wins | + £60.00 – £60.45 = £0.45 loss |
| The Cashel Man places 2nd or 3rd | – £10.00 + £9.55 + £8.00 (extract 80% from our £10.00 free bet) = £7.55 profit |
| The Cashel Man finishes outside top 3 | – £10.00 + £9.55 = £0.45 loss |
So, we will make a nice profit of £7.55 if The Cashel Man places 2nd or 3rd and we stand to lose £0.45 on any other outcome. Risking £0.45 to make £7.55 profit gives us effective odds of 17.78, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If our horse finishes 2nd or 3rd, our £10.00 free bet will be credited before 12:00 on Thursday 28th July 2016.
If you’re unsure how to extract 80% of a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* I actually placed my qualifying bet on The Cashel Man at back odds of 7.00 and lay odds of 6.80. The Cashel Man finished outside the top 3, meaning I made a profit of £0.12 on this Unibet offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.