Euro 2016 is finally upon us and Betfair are getting in on the action! Place a £25.00 bet on any team in the Euro 2016 Outright market and Betfair will give us a £5.00 free bet for every match they win at the tournament. Translated into matched betting terms, this gives us a potential profit of £25.90 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.
Our qualifying bet must be placed before the tournament gets underway, with France hosting Romania in the opening fixture at 20:00 on Friday 10th June 2016.
If we place a single cash bet of £25.00 or more on any team in the Euro 2016 Outright market on the Betfair Sportsbook, we will receive a £5.00 free bet for every game that our team wins throughout the tournament. If our team is successful in the knockout stages through extra time or penalties, this will constitute a win for this promotion and the free bet will be credited.
We can only qualify for this offer with one team.
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 the favourites, France.
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 work out our lay stake by entering our odds into my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £23.36…
Place £25.00 on France @ 4.00 = Potential profit of £75.00
Lay £23.36 on France @ 4.30 = Potential liability of £77.10
Let’s have a look at our potential profit/loss for the two outcomes…
| France win | + £75.00 – £77.10 = £2.10 loss |
| France don’t win | – £25.00 + £22.90 (£23.36 minus 2% commission) = £2.10 loss |
So, regardless of whether France win Euro 2016 or not, we will lose £2.10 in qualifying for our potential free bets.
Free Bets:
For every match that France win, we will get a £5.00 free bet credited within 12 hours of the match finishing. Free bets are valid for 48 hours and the free bet stake is not returned with any winnings.
There are 3 group matches and 4 potential knockout rounds. If France win all 7 matches at Euro 2016, we would receive £35.00 in free bets, from which we would extract 80% as cash, so £28.00. If we take into account our qualifying loss of £2.10, this gives us a potential profit of £25.90 on this Betfair offer!
* France won 2 group matches and progressed through 3 knockout rounds before losing in the Final of Euro 2016, meaning I made a profit of £17.90 on this Betfair offer. *
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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.