The Open Championship 2017 tees off on Thursday and you don’t want to miss this Betfair offer! Place a £10.00 Exchange back bet on The Open Championship Winner market and Betfair will give us a £5.00 free Sportsbook bet for the Winner market. Translated into matched betting terms, this gives us a guaranteed profit of £3.05 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.
To qualify for a £5.00 free Sportsbook bet, we must place a £10.00 Betfair Exchange back bet on the Winner market of The Open Championship 2017. Qualifying bets must be placed before the tournament starts, to be eligible.
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.
It’s entirely up to you which player you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Jordan Spieth.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £9.27…
Place £10.00 on Jordan Spieth @ 17.00 = Potential profit of £152.00
Lay £9.27 on Jordan Spieth @ 17.50 = Potential loss of £152.95
Let’s have a look at our potential profit/loss for the possible outcomes…
| Jordan Spieth wins | + £152.00 – £152.95 = £0.95 loss |
| Jordan Spieth doesn’t win | – £10.00 + £9.08 (£9.27 minus 2% commission) = £0.92 loss |
So, we’ll make a maximum loss of £0.95 in qualifying for our £5.00 free bet.
Free Bet:
If we place our qualifying bet before 10:00, we’ll receive our £5.00 free bet by 10:30 the same day. If we place our qualifying bet after 10:00, we’ll receive our £5.00 free bet by 10:30 the following day.
By using straightforward matched betting, we should be able to extract at least 80% of the £5.00 free bet as cash, so around £4.00. If we take into consideration our maximum qualifying loss of £0.95, we should make a guaranteed profit of £3.05 on this Betfair offer!
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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.