Redbet Offer – Man City v Chelsea

Man City face Chelsea in the Premier League today and Redbet are getting in on the action! Simply bet €25.00 on Man City v Chelsea and Redbet will give us a €5.00 bonus for every goal Man City score in the game! Translated into matched betting terms, this gives us a potential profit of €18.40 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.

This offer, along with their €50.00 welcome offer are available to UK customers. All Redbet accounts are in Euros (€) and it’s not possible to change the currency. We will therefore need to use a currency converter to work out how much we need to lay at Smarkets.

Qualifying bets must be placed pre-match at odds of 1.50 (1/2) or greater, to be eligible.

It’s entirely up to you what you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Man City in the ‘1X2’ market.

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 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 €23.87…

redbet

Place €25.00 on Man City @ 2.12 = Potential profit of €28.00

smarkets white

Lay €23.87 on Man City @ 2.24 = Potential liability of €29.60

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

Man City win + €28.00 – €29.60 = €1.60 loss
Man City don’t win – €25.00 + €23.40 (€23.87 minus 2% commission) = €1.60 loss

So, regardless of the result of the match, we will lose €1.60 in qualifying for our potential bonuses.

Bonuses:

For every goal that Man City score in the match, we will receive a €5.00 bonus, up to a maximum total of €25.00. Bonuses will be credited by 12:00 on Tuesday 6th December 2016 and will be valid for 7 days.

Bonuses must be wagered at least 11 times at odds of 1.50 (1/2) or greater before we are able to withdraw them.

It will depend on how our bonus bets go as to how much cash we will be able to extract. On average though, by using straightforward matched betting, we should be able to extract 80% of any bonuses as cash.

Therefore, if Man City are able to score 5 goals in the game, we would receive €25.00 in free bets, from which we would extract €20.00 cash. If we take into account our qualifying loss of €1.60, this gives us a potential profit of €18.40 on this Redbet offer.

* Man City lost the match 3-1, meaning I made a profit of £2.02 (€2.40) on this Redbet offer. *

Got a question?
Leave me a comment below

I usually respond within 24 hours.

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.