188BET Offer – Rangers v Celtic

Rangers face Celtic in the Scottish Cup Semi-Finals today and 188BET are getting in on the action. If a red card is shown at any time during Rangers v Celtic, 188BET will refund losing First/Anytime Goalscorer, Correct Score, Half-Time/Full-Time and Both Teams to Score bets as a free bet, up to a maximum of £50.00. Translated into matched betting terms, this gives us a potential profit of £42.75 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 on 00:01 on Wednesday 13th April 2016 and 12:00 on Sunday 17th April 2016 to be eligible.

There is no way of making this offer risk-free, so we need to place our qualifying bet at tight odds, in order to minimise our qualifying loss.

It’s entirely up to you, what you place your qualifying bet on but having looked at the odds available, I’ve opted to place my qualifying bet on ‘Both Teams to Score – NO’.

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.

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 £46.17…

188BET logo

Place £50.00 on ‘Both Teams to Score – NO’ @ 2.05 = Potential profit of £52.50

smarkets whiteLay £46.17 on ‘Both Teams to Score – NO’ @ 2.24 = Potential liability of £57.25

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

Someone keeps a clean sheet + £52.50 – £57.25 = £4.75 loss
Both teams score and there’s a red card – £50.00 + £45.25 + £47.50 (extract 95% from our £50.00 stake refund) = £42.75 profit
Both teams score and there’s no red card – £50.00 + £45.25 = £4.75 loss

So, if both teams score and there’s a red card shown, we will make a huge profit of £42.75 on this 188BET offer. If there’s no red card or someone keeps a clean sheet, we’ll have made a loss of £4.75. Risking £4.75 to make a profit of £42.75, gives us effective odds of 10.00, so given that the odds of a red card being shown are only 2.75 with some bookmakers, I’m sure you’ll agree this is a profitable offer in the long run.

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 £50.00 stake refund.

To claim our stake refund, we must email the promotion code ‘OLDFIRM50’, our bet ID number and our 188BET member code to promo@188service.com using our registered email address by 23:59 (GMT) on Sunday 17th April 2016. Free bets will be credited within 48 hours of a successful claim being submitted.

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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.