Euro 2016 is almost here and you don’t want to miss this 188BET offer! Simply place a bet on any team to win Euro 2016 and if Germany win the tournament, 188BET will refund losing bets as a free bet, up to maximum of £25.00. Translated into matched betting terms, this gives us a potential profit of £20.54 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 00:01 on Wednesday 1st June 2016 and 20:00 on Friday 10th June 2016 to be eligible.
The terms state that in order to claim our stake refund, we must email the promotion code ‘EURO25’, our bet ID number and our 188BET member code to promo@188service.com using our registered email address by 23:59 (GMT+1) on Friday 10th June 2016. If Germany then go on to win the tournament, we will receive our free bet within 72 hours.
Members who have claimed the ‘FREE25’ Sports bonus between Wednesday 1st June 2016 and Friday 10th June 2016 are not eligible for this promotion.
It’s entirely up to you who you place your qualifying bet on, but having looked at the odds available, I’ve opted to place my qualifying bet on Spain.
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.
You can find the Euro 2016 outright market by entering ‘Euro 2016’ in the search box at the top of the homepage or by using the following link trail…
Smarkets > Football > Outright > Euro 2016
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 £23.51…
Place £25.00 on Spain @ 6.00 = Potential profit of £125.00
Lay £23.51 on Spain @ 6.40 = Potential liability of £126.96
Let’s have a look at our potential profit/loss for the possible outcomes…
| Spain win | + £125.00 – £126.96 = £1.96 loss |
| Germany win | – £25.00 + £23.04 + £22.50 (extract 90% from stake refund) = £20.54 profit |
| Another country wins | – £25.00 + £23.04 = £1.96 loss |
So, if Germany win Euro 2016, we will make a nice profit of £20.54. If Spain or any other country wins the tournament, we’ll have made a loss of £1.96. Risking £1.96 to make a profit of £20.54, gives us effective odds of 11.48, so given that the odds of Germany winning Euro 2016, are 5.00, this is a profitable offer in the long run.
Stake refunds just need rolling over twice at minimum odds of 1.90 or greater before we are able to withdraw. The above calculations are therefore based on the assumption that, by using straightforward matched betting, we should be able to extract 90% cash from our £25.00 stake refund.
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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.