£176.83
Potential Profit
£-3.17
Actual Profit

The Open Championship 2019 Offer – Betway


Posted by Matt (administrator) Matt
Start Time: 18/07/2019 06:35

The Open Championship 2019 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 Round 1, 2 or 3, Betway will pay our bet out as a winner. Translated into matched betting terms, this gives us a potential profit of £176.83 and here’s how…

Key Terms:

  • The minimum and maximum stakes are £5.00 and £20.00 respectively.
  • We must place our bet on the 2019 The Open Championship – Winner market (pre-tournament bets only).
  • If our selection is leading at the end of Round 1, 2 or 3, Betway will pay our bet out as a winner.

Qualifying Bet:

If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how it should be done.

It’s entirely up to you which player you go for. Having looked at the odds available, we could place our qualifying bet on Rory McIlroy.

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

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 £17.18…

Betway logo

Place £20.00 on Rory McIlroy @ 9.00 = Potential profit of £160.00

Smarkets logo

Lay £17.18 on Rory McIlroy @ 10.50 = Potential liability of £163.21

Outcomes:

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

OutcomeBookieExchangeProfit/Loss
Rory McIlroy wins having led after a previous round+£160.00-£163.21£3.21 loss
Rory McIlroy wins having not led after a previous round+£160.00-£163.21£3.21 loss
Rory McIlroy doesn't win having led after a previous round+£160.00+£16.83£176.83 profit
Rory McIlroy doesn't win having not led after a previous round-£20.00+£16.83£3.17 loss

So, if Rory McIlroy leads after Round 1, 2 or 3 but fails to win the tournament, we’ll have made a profit of £176.83!

Any other outcome and we’ll have made a maximum loss of £3.21. Risking £3.21 to make a profit of £176.83, gives us effective odds of 56.09, which I’m sure you’ll agree, makes this a profitable offer in the long run.

If eligible, pay outs will be credited in the form of cash within 24 hours of the tournament ending.

Note: If our selection is leading after Round 1, 2 or 3, we’ll have the option to place an extra back bet on our selection to win the tournament outright, to lock in a profit. If you decide to guarantee a profit, you just need to divide the sum of your potential loss and potential profit by the back odds. For example, if Rory McIlroy has back odds of 3.00 (2/1), you would divide £180.04 (£3.21 + £176.83) by 3.00, giving you a back stake of £60.01 and a guaranteed profit of £116.81.

* Rory McIlroy failed to lead after Round 1 and missed the cut at the end of Round 2, resulting in a loss of £3.17 on this Betway offer. *

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