£818.27
Potential Profit
£-1.73
Actual Profit

Charles Schwab Challenge 2020 Offer – Betway


Posted by Matt (administrator) Matt
Start Time: 11/06/2020 12:50

The Charles Schwab Challenge 2020 tees off on Thursday and you don’t want to miss this Betway early payout offer! Simply place a pre-tournament Outright Winner bet and if the player you back is the leader at the end of Round 1, Betway will pay you out as a winner. Translated into matched betting terms, this gives us a potential profit of £818.27 and here’s how…

Key Terms:

  • Maximum stake is £20.00.
  • Qualifying bets must be placed pre-tournament on the Outright Winner market.
  • Only our first qualifying bet will count towards this offer.
  • If our player is the leader at the end of Round 1, Betway will pay us out as a winner.
  • Dead Heat rules apply for joint/co round leaders.
  • Winnings will be credited as cash within 24 hours of the tournament finishing.
  • The tournament tees off at 12:50 on Thursday 11th June 2020 and is due to finish on Sunday 14th June 2020.

Qualifying Bet:

Early payout offers have been incredibly popular for a while now. I won’t go into the strategy too much here, but you can find a complete walk-through of how they should be done in my Early Payout Offers (2UP) guide.

It’s entirely up to you which player you go for. Outright Winner odds in golf can be quite long so you may need to go with a smaller stake than £20.00 if your bankroll is stretched.

Having looked at the odds available, we could place a qualifying bet on Jordan Spieth.

At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.

Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.

Banner showing the zero commission sign up offer from Betfair

Banner showing the zero commission sign up offer from Betfair

If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.

For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.

We can calculate our lay stakes using my Early Payout Calculator

2-Way Dutch
Advanced

Back bet (Bookie)1st Bookie

2nd Bookie

Recommended stake
-

Lay Bet (Betting Exchange)

%
Lay stake
-
Liability
-
The bookmaker has paid out early
Back stakeStake
-
Bookie
Exchange
Total
If team wins
If team draws
If team loses
Bookie 1
Bookie 2
Bookie 3
Total
If selection wins
If selection loses

As you can see, the calculator tells us that our lay stake should be £18.64

Betway logo

Place £20.00 on Jordan Spieth @ 41.00 = Potential profit of £800.00

Betfair logo

Lay £18.64 on Jordan Spieth @ 44.00 = Potential liability of £801.52

No Early Payout:

Let’s have a look at our potential profit/loss if there’s no early payout…

OutcomeBookieExchangeProfit/Loss
Jordan Spieth wins+£800.00-£801.52£1.52 loss
Jordan Spieth doesn't win-£20.00+£18.27£1.73 loss

So, worst case scenario, we’ll lose a maximum of £1.73 in qualifying for this offer.

Early Payout!

If Jordan Spieth is the leader at the end of Round 1, we need to select the early payout toggle (in the grey section) to tell the calculator that ‘The bookmaker has paid out early‘…

2-Way Dutch
Advanced

Back bet (Bookie)1st Bookie

2nd Bookie

Recommended stake
-

Lay Bet (Betting Exchange)

%
Lay stake
-
Liability
-
The bookmaker has paid out early
Back stakeStake
-
Bookie
Exchange
Total
If team wins
If team draws
If team loses
Bookie 1
Bookie 2
Bookie 3
Total
If selection wins
If selection loses

As you can see, our potential profit/loss is as follows, now that Betway have paid out early…

OutcomeBookieExchangeProfit/Loss
Jordan Spieth wins+£800.00-£801.52£1.52 loss
Jordan Spieth doesn't win+£800.00+£18.27+£818.27 profit

So, if we let things runs and Jordan Spieth goes on to win, we’ll still lose £1.52, but if Jordan Spieth doesn’t win, we’ll make a profit of £818.27!

Lock in Profit:

If we decide to lock in a profit, we’ll need to enter the back odds for Jordan Spieth to win at Betfair. I’ll use back odds of 2.00 to illustrate how locking in a profit should work…

2-Way Dutch
Advanced

Back bet (Bookie)1st Bookie

2nd Bookie

Recommended stake
-

Lay Bet (Betting Exchange)

%
Lay stake
-
Liability
-
The bookmaker has paid out early
Back stakeStake
-
Bookie
Exchange
Total
If team wins
If team draws
If team loses
Bookie 1
Bookie 2
Bookie 3
Total
If selection wins
If selection loses

As you can see, the calculator tells us that we need to stake £410.08 on Jordan Spieth to win at Betfair.

Betfair logo

Place £410.08 on Jordan Spieth @ 2.00 = Potential profit of £410.08

Now let’s have a look at our overall potential profit for the possible outcomes…

OutcomeBookieExchangeProfit/Loss
Jordan Spieth wins+£800.00-£391.44+£408.56 profit
Jordan Spieth doesn't win+£800.00-£391.44+£408.56 profit

So, regardless of the outcome, we would make a guaranteed profit of £408.56!

With early payout offers, we’ll make a small loss the majority of the time, but when the early payout is triggered, the returns can be very nice indeed.

* Justin Rose and Harold Varner III led after Round 1 and Jordan Spieth failed to win the tournament, resulting in a loss of £1.73 on this Betway offer. *

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