£3.44
Guaranteed Profit
£3.45
Actual Profit

Indian Premier League Offer – Betfred


Posted by Matt (administrator) Matt
Start Time: 23/09/2020 15:00

There’s a big day of Indian Premier League cricket action on Wednesday and you don’t want to miss this Betfred free bet offer! Simply bet £10.00+ on Kolkata Knight Riders v Mumbai Indians and Betfred will give us a £5.00 free bet to use on Kings XI Punjab v Royal Challengers Bangalore. Translated into matched betting terms, this gives us a guaranteed profit of £3.44 and here’s how…

Key Terms:

  • Applies to single bets on Kolkata Knight Riders v Mumbai Indians on Wednesday 23rd September 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.

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, 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.

Banner showing the zero commission sign up offer from Betfair

Banner showing the zero commission sign up offer from Betfair

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…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £

Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £9.64…

Betfred logo

Place £10.00 on Mumbai Indians @ 1.571 = Potential profit of £5.71

Betfair logo

Lay £9.64 on Mumbai Indians @ 1.65 = Potential liability of £6.26

Outcomes:

Let’s have a look at our potential profit/loss for the possible outcomes…

Outcome Bookie Exchange Profit/Loss
Mumbai Indians win +£5.71 -£6.26 £0.55 loss
Mumbai Indians don't win -£10.00 +£9.44 £0.56 loss

So, regardless of the outcome, we’ll lose a maximum of £0.56 in qualifying for our free bet.

Free Bet:

Our £5.00 free bet will be credited by 14:00 on Thursday 24th September 2020 and will be valid until 09:00 on Friday 25th September 2020.

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 £0.56, this gives us a guaranteed profit of £3.44 on this Betfred offer!

* Mumbai Indians won by 49 runs, resulting in a profit of £3.45 on this Betfred offer. *

Comments


  1. Ivan B

    Guest user

    How did you make £3.45 on an event that has not yet started. Very difficult to see how an 80% return on the £5 free Bet can be achieved on this limited market.

    +0
    Reply
    1. Matt

      337

      Hi Ivan. I always post profits once the qualifying event has concluded. It just helps keeps the blog looking tidy and helps people see at a glance which offers are still active. There aren’t usually any issues with converting the free bets into cash.

      For this offer, you should actually be able to use your free bet on any sports market. Although the promotion page suggested using it on Kings XI Punjab v Royal Challengers Bangalore, the terms state that it just has to be used before 09:00 on Friday 25th September 2020.

      +0
      Reply

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