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 Mumbai Indians v Royal Challengers Bangalore and Betfred will give us a £5.00 free bet to use on Chennai Super Kings v Kolkata Knight Riders. Translated into matched betting terms, this gives us a guaranteed profit of £3.42 and here’s how…
Key Terms:
- Applies to single bets on Mumbai Indians v Royal Challengers Bangalore on Wednesday 28th October 2020.
- Minimum stake of £10.00.
- Minimum odds of 1.50 (1/2).
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.
Qualifying Bet:
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 Mumbai Indians in the Match Winner market.
At the time of writing, Bet365 have the best odds for Royal Challengers Bangalore at 2.10 (11/10).
We can calculate our Royal Challengers Bangalore stake using the ‘First Selection‘ and ‘Standard Bet‘ settings on my Dutching Calculator…
As you can see, the calculator tells us to stake £8.57 on Royal Challengers Bangalore in the To Win the Match market…
Place £10.00 on Mumbai Indians @ 1.80 = Potential profit of £8.00
Place £8.57 on Royal Challengers Bangalore @ 2.10 = Potential profit of £9.42
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Betfred | Bet365 | Profit/Loss |
|---|---|---|---|
| Mumbai Indians win | + £8.00 | – £8.57 | £0.57 loss |
| Royal Challengers Bangalore win | – £10.00 | + £9.42 | £0.58 loss |
So, regardless of the outcome, we’ll lose a maximum of £0.58 in qualifying for our free bet.
Free Bet:
Our £5.00 free bet will be credited by 14:00 on Thursday 29th October 2020 and will be valid until 09:00 on Friday 30th October 2020. Although the promotion page suggests using the free bet on Chennai Super Kings v Kolkata Knight Riders, 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 £0.58, this gives us a guaranteed profit of £3.42 on this Betfred offer!
* Mumbai Indians won by 5 wickets, resulting in a profit of £3.43 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.