It’s a big Wednesday of Indian Premier League cricket action and you don’t want to miss this Betfred free bet offer! Simply bet £10.00+ on Kolkata Knight Riders v Royal Challengers Bangalore and Betfred will give us a £5.00 free bet to use on Rajasthan Royals v Sunrisers Hyderabad. Translated into matched betting terms, this gives us a guaranteed profit of £3.52 and here’s how…
Key Terms:
- Applies to single bets on Kolkata Knight Riders v Royal Challengers Bangalore on Wednesday 21st October 2020.
- Minimum stake of £10.00.
- Minimum odds of 1.50 (1/2).
Qualifying Bet:
If you’d like more information about qualifying bets and how they work, please see my Qualifying Bets Guide.
Note: There is a small risk involved if you decide to lay your bet at Betfair or Smarkets. In the event that the match is tied, a super over will decide the winner and all exchange bets will be voided. It’s a fairly unlikely outcome, but it means there’s a small chance you could lose your £10.00 stake at Betfred and not win your exchange bet. You can still lay your bet if you’re comfortable with the small risk, otherwise you should look at dutching your bet at a bookmaker with the same rules as Betfred.
It’s entirely up to you what you place your qualifying bet on. Having looked at the odds available, we could place our qualifying bet on Kolkata Knight Riders in the Match Winner market.
At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.
Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.
If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.
For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.
We can calculate our lay stakes using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £9.72…
Place £10.00 on Kolkata Knight Riders @ 2.10 = Potential profit of £11.00
Lay £9.72 on Kolkata Knight Riders @ 2.18 = Potential liability of £11.46
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Profit/Loss |
|---|---|---|---|
| Kolkata Knight Riders win | +£11.00 | -£11.46 | £0.46 loss |
| Kolkata Knight Riders don’t win | -£10.00 | +£9.52 | £0.48 loss |
So, regardless of the outcome, we’ll lose a maximum of £0.48 in qualifying for our free bet.
Free Bet:
Our £5.00 free bet will be credited by 14:00 on Thursday 22nd October 2020 and will be valid until 09:00 on Friday 23rd October 2020. Although the promotion page suggests using the free bet on Rajasthan Royals v Sunrisers Hyderabad, Betfred free bets can usually be used on any sports market.
Using straightforward matched betting, we should be able to convert our free bet into 80% cash, so £4.00. If we take into account our maximum qualifying loss of £0.48, this gives us a guaranteed profit of £3.52 on this Betfred offer!
* Royal Challengers Bangalore won by 8 wickets, resulting in a profit of £3.52 on this Betfred 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.