Middlesbrough host Chelsea in the Premier League today and BetBright are getting in on the action! Simply place a bet on Middlesbrough v Chelsea and if Chelsea fail to win, BetBright will refund losing First/Last Goalscorer and Correct Score bets as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a risk-free potential profit of £3.49 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 pre-match to be eligible.
We need to place our qualifying bet on a selection that sees Chelsea winning the match. This ensures that if Chelsea fail to win, we will automatically be eligible for a free bet refund as our qualifying bet will have lost.
It’s entirely up to you what you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on 1-0 to Chelsea in the Correct Score 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 in comparison to the 5% charged by other betting exchanges.
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 £8.58…
Place £10.00 on 1-0 Chelsea @ 6.50 = Potential profit of £55.00
Lay £8.58 on 1-0 Chelsea @ 7.60 = Potential liability of £56.60
Let’s have a look at our potential profit/loss for the possible outcomes…
1-0 Chelsea | + £55.00 – £56.60 = £1.60 loss |
Not 1-0 Chelsea and Chelsea fail to win | – £10.00 + £8.40 + £8.00 (extract 80% from £10.00 free bet) = £6.40 profit |
Not 1-0 Chelsea and Chelsea win | – £10.00 + £8.40 = £1.60 loss |
So, as things stand, if Chelsea fail to win, we’ll make a nice profit of £6.40. Any other outcome and we’ll lose £1.60.
By placing an extra back bet on Chelsea to win the match (at whichever bookie is offering the best odds), we can actually make this offer risk-free. In order to work out our back stake, we just need to divide our potential loss of £1.60 by 0.55 (back odds minus 1.00 to account for our stake), which gives us £2.91.
Let’s have a look at our overall profit/loss for the possible outcomes…
1-0 Chelsea | – £1.60 + £1.60 = £0.00 |
Not 1-0 Chelsea and Chelsea fail to win | + £6.40 – £2.91 = £3.49 profit |
Not 1-0 Chelsea and Chelsea win | – £1.60 + £1.60 = £0.00 |
So, if Chelsea win, we’ll break even and there’s no harm done. If, however, Chelsea fail to win, we’ll make a risk-free profit of £3.49 on this BetBright offer!
If Chelsea fail to win, our free bet will be credited within an hour of the match ending and will be valid for 7 days.
If you’re unsure how to extract 80% cash from a £10.00 free bet, please see my free bet strategy page for a walk-through guide on how it should be done.
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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.