£6.38
Guaranteed Profit
£6.38
Actual Profit

LeoVegas Offer – Premier League 2016/17 Double Winnings


Posted by Matt (administrator) Matt
Start Time: 13/08/2016 12:30

The new Premier League season is underway and you don’t want to miss this LeoVegas offer. Simply place a bet on the Outright Winner of the Premier League 2016/17 and LeoVegas will double our potential winnings! Translated into matched betting terms, this gives us a guaranteed profit of £6.38 and here’s how…

LeoVegas Offer - Premier League Double Odds

This offer is available from 10:00 on Friday 12th August 2016 until midnight on Sunday 14th August 2016.

All we need to do is, select an Outright Winner of the 2016/17 Premier League and apply the 100% profit boost on our betslip. The maximum stake for this offer is £10.00.

Having looked at the odds available, I’ve opted to place my qualifying bet on Chelsea. Chelsea are odds of 11/2 (6.50) to win the Premier League 2016/17.

To calculate our enhanced odds we just need to subtract 1.00 (stake) from the decimal odds of 6.50, which gives us 5.50. We then double that, which gives us 11.00 and add the 1.00 (stake) back on, which gives us 12.00.

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.

To calculate our lay stake, we just need to enter our enhanced odds as our back odds on 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 £16.71…

leovegas

Place £10.00 on Chelsea @ 12.00 = Potential profit of £110.00

smarkets white

Lay £16.71 on Chelsea @ 7.20 = Potential liability of £103.62

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

Chelsea win+ £110.00 – £103.62 = £6.38 profit
Chelsea don't win- £10.00 + £16.38 (£16.71 minus 2% commission) = £6.38 profit

So, regardless of who wins the league, we’ll make a guaranteed profit of £6.38 on this LeoVegas offer!

NOTE: If you do not wish to have the money tied up in your exhange account for the duration of the season, we could let our back bet run as a value bet. There is also the possibility of laying our bet towards the end of the season, if our selection is still in the title race.

* Chelsea won the Premier League 2016/17 title, meaning I made a profit of £6.38 on this LeoVegas offer. *

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