Kell Brook faces Errol Spence tonight and you don’t want to miss this Ladbrokes offer. Simply place a bet on the Fight Winner market for Brook v Spence and if our chosen fighter wins during rounds 1-6, Ladbrokes will double our winnings, up to £50.00, in free bets! Translated into matched betting terms, this gives us a potential profit of £37.70 and here’s how…
Qualifying bet
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
Qualifying bets must be placed between 08:00 on Friday 26th May 2017 and the fight getting underway, to be eligible. The fight is scheduled to get underway at around 23:00 tonight.
To qualify, we must place a bet on the Fight Winner market. If our fighter wins during rounds 1-6, Ladbrokes will double our winnings in free bets.
The maximum free bet is £50.00 per customer and this will be credited within 24 hours of our bet being settled and will be valid for 7 days. Free bets stakes are not included in any returns.
It’s entirely up to you which fighter you go for. Having looked at the odds available, I’ve opted to place my qualifying bet on Errol Spence Jr.
In order to work out our back stake, we need to divide £50.00 by 0.571 (back odds minus 1.00). This gives us a back stake of £87.57. It’s best that we stick to round numbers when placing our qualifying bet, so I’ll stake £90.00 instead.
I like to place my exchange lay bets with Smarkets as they have great liquidity, 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 £89.49…
Place £90.00 on Errol Spence Jr @ 1.571 = Potential profit of £51.39
Lay £89.49 on Errol Spence Jr @ 1.60 = Potential liability of £53.69
Let’s have a look at our potential profit/loss for the possible outcomes…
| Spence Jr wins the fight but not in rounds 1-6 | + £51.39 – £53.69 = £2.30 loss |
| Spence Jr wins the fight in rounds 1-6 | + £51.39 – £53.69 + £40.00 (80% extracted from £50.00 free bet) = £37.70 profit |
| Spence Jr doesn’t win the fight | – £90.00 + £87.70 = £2.30 loss |
So, if Errol Spence Jr wins the fight in rounds 1-6, we’ll make a nice profit of £37.70. Any other outcome and we’ll lose £2.30. Risking £2.30 to make a profit of £37.70, gives us effective odds of 17.39. So, given that Errol Spence Jr is odds of 5.00 to win the fight during rounds 1-6, this is a profitable offer in the long run.
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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.