There’s Premier League football at Wembley on Sunday and you don’t want to miss this Betway offer! Simply place a Correct Score or Goalscorer bet on Tottenham v Chelsea and if it loses, Betway will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of around £5.30+ and here’s how…
Qualifying Bet:
If you’re unsure about how to place risk-free bets, check out my Risk-Free Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed pre-match on Tottenham v Chelsea, which kicks off at 16:00 on Sunday 20th August 2017. Only bets placed on the Correct Score, Scorecast, First/Anytime/Last Goalscorer markets will be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We’ll therefore need to select something with long odds such as a Correct Score.
At the time of writing, the odds aren’t quite tight enough, so I’ll use fictional odds for 2-1 Tottenham in the following example and I’ll update the bottom of the post with my actual selection after the match.
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 work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £10.00 free bet refund, should our qualifying bet lose…
As you can see, the calculator tells us that our lay stake should be £7.52…
Place £10.00 on 2-1 Tottenham @ 8.00 = Potential profit of £70.00
Lay £7.52 on 2-1 Tottenham @ 9.60 = Potential liability of £64.67
Let’s have a look at our potential profit/loss for the possible outcomes…
| 2-1 Tottenham | + £70.00 – £64.67 = £5.33 profit |
| Not 2-1 Tottenham | – £10.00 + £7.36 + £8.00 (extract 80% from our £10.00 free bet) = £5.36 profit |
So, provided we can find some decent odds, we should make a guaranteed profit of £5.30+ on this Betway offer!
If our selection loses, our free bet will be credited within 24 hours of the match finishing and will be valid for 7 days. Free bet stakes are not included in any returns.
If you’re unsure how to extract 80% cash from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* I actually placed my qualifying bet on 2-1 Tottenham at back odds of 8.00 and lay odds of 10.50. Tottenham lost the match 2-1, meaning I made a profit of £4.73 on this Betway offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.