Tottenham host Leicester City on Saturday and BetStars are getting in on the action! Spin & Bet £20.00 on the ‘Match Result’ market for Tottenham v Leicester City and BetStars will give us a £5.00 free bet for each goal our team scores in the match! Translated into matched betting terms, this gives us a potential profit of £11.78 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 on the Spin & Bet Match Result market between 00:00 on Friday 28th October 2016 and 15:00 (kick-off) on Saturday 29th October 2016, to be eligible.
I’ll just explain how Spin & Bet works for those of you who aren’t yet familiar with it. Spin & Bet allows us to boost our potential winnings by up to 10 times. We simply choose the Spin & Bet Market we want to place a bet on and click it to add it to our betting slip. We then enter our stake and click ‘Spin & place bet’, which will immediately multiply our potential winnings by up to 10 times.
It’s entirely up to you who you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Tottenham.
To fund the enhanced odds jackpot, BetStars deduct 10% from every Spin & Bet stake amount. So, for this particular offer, £2.00 will be deducted from our £20.00 stake, meaning our effective stake is actually £18.00. With that in mind, we need to calculate our effective odds in order to work out the correct lay stake.
At odds of 1.65, our £18.00 bet will return £29.70. We also know that if Tottenham win, we will receive at least one £5.00 free bet, from which we can extract £4.00 cash, giving us total minimum returns of £33.70. If we divide £33.70 by our actual stake of £20.00, this gives us effective odds of 1.685.
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 stakes using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £20.18…
Place £20.00 on Tottenham @ 1.685 = Potential profit of £13.70
Lay £20.18 on Tottenham @ 1.69 = Potential liability of £13.92
Let’s have a look at our potential profit/loss for the possible outcomes…
| Tottenham win | + £13.70 – £13.92 = £0.22 loss |
| Tottenham don’t win | – £20.00 + £19.78 (£20.18 minus 2% commission) = £0.22 loss |
So, regardless of the result of the match, we will lose £0.22 in qualifying for our potential free bets.
Free Bets:
For every goal that Tottenham score in the match, we will receive a £5.00 free bet within 48 hours of our qualifying bet being settled. Free bets will be valid for 7 days.
If Tottenham are able to score 4 goals in the game, we would receive a further £15.00 in free bets (we’ve already accounted for one goal in our earlier workings), from which we would extract 80% as cash, so £12.00. If we take into account our qualifying loss of £0.22, this gives us a potential profit of £11.78 on this BetStars offer.
The above calculations assume that our potential winnings were not multiplied during the Spin & Bet. If, however, our potential winnings are multiplied during the Spin & Bet, this will significantly increase our potential profit.
* The match was drawn 1-1, meaning I made a profit of £3.78 on this BetStars 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.