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.
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 £9.64…
Place £10.00 on Mumbai Indians @ 1.571 = Potential profit of £5.71
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. *
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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.