The Farmers Insurance Open 2018 gets underway on Wednesday night and you don’t want to miss this Double Winnings offer from Coral. Simply place a £5.00+ win single on any golfer in the Farmers Insurance Open Outright Winner market and if Tiger Woods finishes in the Top 10 (including ties), Coral will double our winnings up to £100.00, in free bets! Translated into matched betting terms, this gives us a potential profit of £74.26 and here’s how…
The Terms:
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 between 08:00 on Tuesday 23rd January 2018 and the start of play, to be eligible. The tournament is scheduled to get underway at 17:00 on Thursday 25th January 2018.
To qualify, we must place a £5.00+ Single bet on the Outright Winner market. If Tiger Woods finishes in the Top 10 (including ties), Coral will double our winnings in free bets.
The maximum free bet is £100.00 per customer and this will be credited within 24 hours of our bet being settled. Free bets will be valid for 4 days and free bet stakes are not included in any returns.
Qualifying Bet:
It’s entirely up to you which player you go for. Having looked at the odds available, we could place our qualifying bet on Tiger Woods. The benefit here is that if Tiger Woods wins, we automatically get double winnings because he’s finished in the Top 10.
In order to work out our back stake, we need to divide £100.00 by 20.00 (back odds minus 1.00). This gives us a back stake of £5.00, which is perfect as it’s best that we stick to round numbers when placing our qualifying bet.
I like to place my exchange lay bets with Betfair as they have great liquidity and the site is really easy to use.
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 £4.38…
Place £5.00 on Tiger Woods @ 21.00 = Potential profit of £100.00
Lay £4.38 on Tiger Woods @ 24.00 = Potential liability of £100.74
Let’s have a look at our potential profit/loss for the possible outcomes…
| Tiger Woods wins | + £100.00 – £100.74 + £75.00 (75% extracted from £100.00 free bet) = £74.26 profit |
| Tiger Woods doesn’t win | – £5.00 + £4.16 (£4.38 minus 5% commission) = £0.84 loss |
So, if Tiger Woods wins the tournament, we’ll make a nice profit of £74.26. Any other outcome and we’ll lose £0.84. Risking £0.84 to make a profit of £74.26, gives us effective odds of 89.40. So, given that Tiger Woods is odds of just 20.00 to win the tournament, this is a profitable offer in the long run.
NOTE: We can actually make this offer risk-free by overlaying Tiger Woods on the Betfair Exchange. In order to work out our lay stake, we just need to divide our £5.00 back stake by 0.95 (to account for the 5% commission).
* Tiger Woods finished tied for 23rd place, resulting in a loss of £0.84 on this Coral 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.