Ladbrokes Money Back Offer – Leicester City v Atletico Madrid

Leicester City host Atletico Madrid in the Champions League on Tuesday and you don’t want to miss this Ladbrokes offer! Simply place a bet on Leicester City v Atletico Madrid and if the game is a draw, Ladbrokes will refund losing Correct Score, First Goalscorer and Half-Time/Full-Time bets as a free bet, up to £25.00 per market. Translated into matched betting terms, this gives us a risk-free potential profit of £9.14 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 between 08:00 on Monday 17th April 2017 and 19:45 (kick-off) on Tuesday 18th April 2017, to be eligible.

We need to place our qualifying bet on a Correct Score or Half-Time/Full-Time selection that doesn’t see the match being drawn. This ensures that if the match is drawn, we’ll automatically be eligible for a free bet refund as our qualifying bet will have lost.

It’s entirely up to you what you place your qualifying bet on. At the time of writing, the lay odds are pretty poor, so I’ll use fictional odds 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 calculate our lay stake 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 £22.49…

ladbrokes logo

Place £25.00 on Atletico/Atletico @ 3.40 = Potential profit of £60.00

smarkets whiteLay £22.49 on Atletico/Atletico @ 3.80 = Potential liability of £62.97

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

Atletico/Atletico + £60.00 – £62.97 = £2.97 loss
Not Atletico/Atletico and match is a draw – £25.00 + £22.04 + £20.00 (extract 80% from our £25.00 free bet) = £17.04 profit
Not Atletico/Atletico and match isn’t a draw – £25.00 + £22.04 = £2.96 loss

So, as things stand, if the match is a draw, we’ll make a profit of £17.04. Any other outcome and we’ll have made a maximum loss of £2.97.

We can actually make this offer risk-free by placing an extra lay bet on the match being a draw. To work out our lay stake, we just need to divide our maximum potential loss of £2.97 by 0.98 (to account for the 2% commission) which gives us a lay stake of £3.04…

smarkets whiteLay £3.04 on a draw @ 3.60 = Potential liability of £7.90

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

Atletico/Atletico – £2.97 + £2.97 = £0.00
Not Atletico/Atletico and match is a draw + £17.04 – £7.90 = £9.14 profit
Not Atletico/Atletico and match isn’t a draw – £2.96 + £2.97= £0.01 profit

So, if the game isn’t drawn, we’ll have broken even and there’s no harm done. If, however, the game is drawn, we’ll have made a nice risk-free profit of £9.14.

If the game is drawn, our free bet will be credited within 24 hours and will be valid for 7 days.

If you’re unsure how to extract 80% cash from a £25.00 free bet, please see my free bet strategy page for a walk-through guide on how it should be done.

NOTE: If you wish, you can overlay on the draw to guarantee yourself a small profit on any outcome. To calculate your overlay stake on the draw, just divide £20.00 (the amount we expect to extract from our £25.00 free bet refund) by the draw lay odds (minus 0.02 to account for the 2% commission at Smarkets).

* I actually placed my qualifying bet on Atletico Madrid/Atletico Madrid at back odds of 3.40 and lay odds of 3.90. I placed my extra lay bet on the draw at odds of 3.60. The match was drawn 1-1, meaning I made a profit of £7.09 on this Ladbrokes offer. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.