It’s time for another Ladbrokes free bet offer! Simply place a £25.00 bet on Manchester City v Chelsea and if Manchester City win, Ladbrokes will refund all losing correct score, first goalsorer and scorecast bets as a free bet up to £25.00! Translated into matched betting terms, this gives us a potential profit of £5.26 and here’s how…
Qualifying Bet:
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walkthrough guide on how to place your qualifying bets.
Whenever I do these Ladbrokes free bet offers, I always stick to the correct score market. I find the liquidity at the betting exchange is far better than goalscorer markets and I just feel more comfortable here. We need to select a scoreline that isn’t a Manchester City win. This ensures that if Manchester City win the match, we will automatically qualify for a free bet refund as our qualifying bet will have lost. It’s entirely up to you which score you go for. Having looked at the odds available, I’ve opted for a 1-1 draw.
Place £25.00 on 1-1 draw @ 6.50 = Potential profit of £137.50
Lay £20.44 on 1-1 draw @ 8.00 = Potential liability of £143.08
Let’s have a look at our potential profit/loss for the three outcomes…
| 1-1 draw | +£137.50 – £143.08 = £5.58 loss |
| Not 1-1 draw and Man City win | -£25.00 + £19.42 + £20.00 (extract 80% from our £25.00 free bet) = £14.42 profit |
| Not 1-1 draw and Man City don’t win | -£25.00 + £19.42 = £5.58 loss |
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
So as things stand we will make £14.42 profit if Man City win. Unfortunately, we also stand to lose £5.58 on any other outcome and so we need to insure ourselves against this by laying Man City at the betting exchange. In order to calculate our lay stake, we need to divide £5.58 by 0.95 to account for the 5% commission. This gives us a lay stake of £5.87.
Lay £5.87 on Man City @ 2.56 = Potential liability of £9.16
Let’s have a look at our overall profit/loss for the possible outcomes…
| 1-1 draw | -£5.58 + £5.58 = £0.00 |
| Not 1-1 draw and Man City win | £14.42 – £9.16 = £5.26 profit |
| Not 1-1 draw and Man City don’t win | -£5.58 + £5.58 = £0.00 |
So if Man City don’t win, we will break even and there’s no harm done. However, if Man City do win, we will make a profit of £5.26!
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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.