It’s Sheffield Utd v Newcastle in the Premier League on Sunday, and Betfair are getting in on the action! Place an Exchange bet of up to £10.00 on ‘Newcastle to win’, and if your bet loses, your stake will be refunded as a free bet. Translated into matched betting terms, this gives you a profit of £2.40 and here’s how…
Key terms
- Available to selected customers only.
- You must opt in before you place your qualifying bet.
- Place an Exchange bet of up to £10.00 on ‘Newcastle to win‘.
- Applies to bets placed between 12:00 on Friday 22nd September 2023, and 16:30 (kick-off) on Sunday 24th September 2023.
- Applies to your first bet placed on the selected market only.
- Applies to back bets only; lay bets do not qualify.
- Money back as a free bet if your bet loses.
- Betfair Rewards ‘Basic’ customers are excluded from this promotion.
- If eligible, your free bet will be credited within 24 hours.
- The free bet will be valid on any football exchange market for 7 days.
Qualifying bet
If your qualifying bet loses, Betfair will refund your stake as a free bet, so you can treat this as a Money Back if Bet Loses offer.
You can work out your lay stake using the ‘Money Back if Bet Loses‘ setting on my Matched Betting Calculator. You can enter ‘£8.00‘ as your ‘Cashback’ figure as that is the amount you can expect to convert your £10.00 free bet into, should your bet lose.
As you can see, the calculator tells you that your lay stake should be £4.40.
Place £10.00 on ‘Newcastle to win’ @ 1.48 = Potential profit of £4.56
Lay £4.40 on ‘Newcastle’ (Full-time result) @ 1.49 = Potential liability of £2.15
Outcomes
Let’s look at your profit/loss for the possible outcomes.
| Outcome | Betfair | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Newcastle win | + £4.56 | – £2.15 | £2.41 profit | |
| Newcastle lose or draw | – £10.00 | + £4.40 | + £8.00 | £2.40 profit |
So, no matter the outcome, you’ll make a minimum profit of £2.40 on this Betfair Exchange offer!
If you’re unsure how to convert your £10.00 free bet into £8.00 cash (80%), please see my Free Bets Guide for a walkthrough.
* Newcastle won the match 8-0, resulting in a £2.41 profit on this Betfair Exchange offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.