£3.14
Potential Profit
£-0.06
Actual Profit

Iceland v England Offer – Genting Bet


Posted by Matt (administrator) Matt
Start Time: 05/09/2020 17:00

It’s Iceland v England in the UEFA Nations League on Saturday and Genting Bet are getting in on the action! Simply place a £10.00+ pre-match bet on Iceland v England and Genting Bet will give us a free bet equal to the amount of goals scored in the game. Translated into matched betting terms, this gives us a potential profit of £3.14 and here’s how…

Key Terms:

  • The minimum stake to qualify is £10.00.
  • We must place our bet at odds of 1.50 (1/2) or greater.
  • Qualifying bets must be placed before 17:00 (kick-off) on Saturday 5th September 2020.
  • Maximum free bet of £5.00.

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.

It’s entirely up to you what you place your qualifying bet on. Having looked at the odds available, we could place our qualifying bet on England in the First Half Result market.

At the time of writing, laying our bet at Smarkets gives us the smallest qualifying loss.

If you’re not yet signed up, Smarkets are currently offering a £10.00 welcome bonus for new customers.

Banner showing the £10 welcome bonus offer from Smarkets

Banner showing the £10 welcome bonus offer from Smarkets

We can calculate our lay stakes using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £

Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £9.33…

Genting Bet logo

Place £10.00 on England @ 1.80 = Potential profit of £8.00

Smarkets logo

Lay £9.33 on England @ 1.95 = Potential liability of £8.86

Outcomes:

Let’s have a look at our potential profit/loss for the possible outcomes…

Outcome Bookie Exchange Profit/Loss
England win first half +£8.00 -£8.86 £0.86 loss
England don't win first half -£10.00 +£9.14 £0.86 loss

So, regardless of the outcome, we’ll lose £0.86 in qualifying for our potential free bet.

Free Bet:

We’ll receive a free bet equal to the amount of goals scored in the game, up to a maximum of £5.00. Free bets will be credited by 23:59 on Sunday 6th September 2020 and will be valid for 3 days. Free bet stakes will not be included with any returns.

By using straightforward matched betting, we should be able to extract 80% cash from any free bet.

Therefore, if 5 goals are scored in the game, we’ll receive a £5.00 free bet, from which we can extract £4.00 cash. If we take into account our qualifying loss of £0.86, this gives us a potential profit of £3.14 on this Genting Bet offer!

* England won the match 1-0 after drawing the first half 0-0, resulting in a loss of £0.06 on this Genting Bet offer. *

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