£297.31
Potential Profit
£-2.69
Actual Profit

US PGA Championship 2018 Offer – Betway


Posted by Matt (administrator) Matt
Start Time: 09/08/2018 12:50

The US PGA 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 the First Round, Betway will pay our bet out as a winner. Translated into matched betting terms, this gives us a potential profit of £297.31 and here’s how…

Key Terms:

  • Qualifying bets must be placed before the tournament gets underway at 12:50 on Thursday 9th August 2018.
  • The minimum and maximum stakes for this offer are £5.00 and £20.00 respectively.
  • If our selection leads at the end of the First Round, our bet will be paid out as a winner, in cash.

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.

Having looked at the odds available, we could place our qualifying bet on the defending champion, Justin Thomas.

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 £17.67…

Betway logo

Place £20.00 on Justin Thomas @ 15.00 = Potential profit of £280.00

Smarkets logo

Lay £17.67 on Justin Thomas @ 17.00 = Potential liability of £282.72

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

Justin Thomas wins having lead after First Round + £280.00 – £282.72 = £2.72 loss
Justin Thomas wins having not lead after First Round + £280.00 – £282.72 = £2.72 loss
Justin Thomas doesn't win having lead after First Round + £280.00 (paid as a winner) + £17.31 = £297.31 profit
Justin Thomas doesn't win having not lead after First Round - £20.00 + £17.31 = £2.69 loss

So, if Justin Thomas leads after the First Round but fails to win the tournament, we’ll have made a profit of £297.31. Any other outcome and we’ll have made a maximum loss of £2.72. Risking £2.72 to make a profit of £297.31, gives us effective odds of 110.31, 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 the First Round, 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 Justin Thomas has back odds of 4.00 (3/1), we would divide £300.00 by 4.00, which gives us a back stake of £75.00 and a guaranteed profit of £222.28.

* Justin Thomas did not lead after the First Round and finished tied for 6th place, resulting in a loss of £2.69 on this Betway offer. *

Comments


  1. Sherbet

    Where do we place the extra back bet you speak about in the “NOTE:”, on Smarkets?

    1. Matt

      You can place the extra back bet at any bookmaker or if you want to place it at Smarkets, you would need to use the green ‘back’ button. Just to clarify though, you should only place the extra back bet if your selection is leading after the First Round.

  2. Dc1408

    What happens if it’s a joint leader at the end of round 1? Do you need to stake more to gain a profit?

    1. Matt

      Dead Heat rules apply for joint/co round leaders, so if two players are tied, only half of your stake would be paid as a winner. In terms of placing the extra back bet, using the example in the post, you would divide £160.00 by 4.00, giving you a back stake of £40.00 and a guaranteed profit of £117.28.

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