The Open Championship 2018 tees off on Thursday and you don’t want to miss this Betway offer! Simply place an Outright Winner bet and if our selection is leading at the end of any round, Betway will pay our bet out as a winner. Translated into matched betting terms, this gives us a potential profit of £235.77 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 pre-tournament, to be eligible. The tournament is scheduled to tee off at 06:35 on Thursday 19th July 2018. The minimum and maximum stakes for this offer are £5.00 and £20.00 respectively.
If our selection is leading at the end of any round, Betway will settle our bet as a winner, in cash. We therefore need our selection to be leading after any of the first 3 rounds. If he then fails to win the tournament, we’ll have won both our back and lay bets.
Having looked at the odds available, we could place our qualifying bet on Dustin Johnson.
At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.
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 £16.61…
Place £20.00 on Dustin Johnson @ 12.00 = Potential profit of £220.00
Lay £16.61 on Dustin Johnson @ 14.50 = Potential liability of £224.23
Let’s have a look at our potential profit/loss for the possible outcomes…
| Dustin Johnson wins having led after a previous round | + £220.00 – £224.23 = £4.23 loss |
| Dustin Johnson wins having not led after a previous round | + £220.00 – £224.23 = £4.23 loss |
| Dustin Johnson doesn’t win having led after a previous round | + £220.00 (paid out as a winner) + £15.77 = £235.77 profit |
| Dustin Johnson doesn’t win having not led after a previous round | – £20.00 + £15.77 = £4.23 loss |
So, if Dustin Johnson leads after Round 1, 2 or 3 but fails to win the tournament, we’ll have made a profit of £235.77. Any other outcome and we’ll have made a loss of £4.23. Risking £4.23 to make a profit of £235.77, gives us effective odds of 56.74, which I’m sure you’ll agree, makes this a very profitable offer in the long run.
If eligible, pay outs will be credited within 24 hours of the tournament ending.
NOTE: If our selection is leading after any of the first 3 rounds, we’ll have the option to place an extra back bet on our selection to win the tournament outright, in order to lock in a guaranteed profit. To calculate our back stake, we would just need to divide our qualifying loss plus our potential profit by the back odds. So, using the above example, if Dustin Johnson has back odds of 4.00 (3/1), we would divide £240.00 by 4.00, which gives us a back stake of £60.00 and a guaranteed profit of £175.77.
* Dustin Johnson failed to win the tournament and didn’t lead after any of the previous three rounds. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.