188BET Offer – Leicester City v Chelsea

Leicester City host Chelsea in the EFL Cup tonight and you don’t want to miss this 188BET offer! If Riyad Mahrez or Eden Hazard scores the first goal in Leicester City v Chelsea, 188BET will refund losing pre-match First/Anytime Goalscorer, Correct Score and Half Time/Full Time bets as a free bet, up to a maximum of £25.00. Translated into matched betting terms, this gives us a potential profit of £22.29 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.

As with all player-specific promotions, it’s a good idea to wait until the starting line-ups have been announced, before placing our qualifying bets.

Qualifying bets must be placed between 00:01 and 19:45 today (Tuesday 20th September 2016), to be eligible.

It’s entirely up to you what you place your qualifying on. I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on Chelsea/Chelsea in the Half-Time/Full-Time market.

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, compared to the 5% charged by other betting exchanges.

We can calculate our lay stake 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 £24.02…

188BET logo

Place £25.00 on Chelsea/Chelsea @ 3.20 = Potential profit of £55.00

smarkets whiteLay £24.02 on Chelsea/Chelsea @ 3.35 = Potential liability of £56.46

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

Chelsea/Chelsea + £55.00 – £56.46 = £1.46 loss
Not Chelsea/Chelsea and Mahrez or Hazard scores first – £25.00 + £23.54 + £23.75 (extract 95% from our £25.00 stake refund) = £22.29 profit
Not Chelsea/Chelsea and Mahrez or Hazard doesn’t score first – £25.00 + £23.54 = £1.46 loss

So, if our Chelsea/Chelsea bet doesn’t win and Mahrez or Hazard scores first, we will make a nice profit of £22.29. If, however, our Chelsea/Chelsea bet does win or Mahrez or Hazard doesn’t score first, we’ll have made a loss of £1.46. Risking £1.46 to make a profit of £22.29, gives us effective odds of 16.27, which I’m sure you’ll agree makes this a profitable offer in the long run, even though we need our Chelsea/Chelsea bet to lose.

Stake refunds just need rolling over once 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 95% cash from our £25.00 stake refund.

To claim our stake refund, we must email the promotion code ‘MH25’, our bet ID number and our 188BET member code to promo@188service.com using our registered email address by 23:59 (GMT) on Wednesday 21st September 2016. Free bets will be credited within 48 hours of a successful claim being submitted and will be valid for 30 days.

* Mahrez and Hazard were named on the bench, so I decided to give this offer a miss. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.