BetMclean Offer – The Open Championship 2016

The Open Championship 2016 gets underway on Thursday and BetMcLean are getting in on the action! Simply place a bet on The Open Outright Winner market and if our selection finishes 2nd or 3rd (including ties), BetMcLean will refund our stake as a free bet, up to a maximum of £50.00. Translated into matched betting terms, this gives us a potential profit of £41.43 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 prior to the start of the tournament, to be eligible. The first group of players will tee off at 06:35 on Thursday 14th July 2016.

It’s entirely up to you who you place your qualifying bet on, but having looked at the odds available, I’ve opted to place my qualifying bet on Dustin Johnson.

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.

You can find The Open Championship outright market by entering ‘The Open Championship’ in the search box at the top of the homepage or by using the following link trail…

Smarkets > Golf > Majors 2016 > The Open Championship

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 £52.48…

betmclean

Place £50.00 on Dustin Johnson @ 11.00 = Potential profit of £500.00

smarkets whiteLay £52.48 on Dustin Johnson @ 10.50 = Potential liability of £498.57

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

Dustin Johnson wins + £500.00 – £498.57 = £1.43 profit
Dustin Johnson places 2nd or 3rd – £50.00 + £51.43 + £40.00 (extract 80% from stake refund) = £41.43 profit
Dustin Johnson finishes outside the top 3 – £50.00 + £51.43 = £1.43 profit

So, if Dustin Johnson places 2nd or 3rd, we will make a nice profit of £41.43. Any other outcome and we’ll have made a small profit of £1.62.

If Dustin Johnson places 2nd or 3rd (including ties), our £50.00 free bet will be credited within 24 hours and will be valid for 7 days.

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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.