There’s a big day of horse racing at Sandown today and you don’t want to miss this 32Red Sport offer! Simply opt in and place a £20.00+ win-only single on the Imperial Cup (15:00 Sandown) and 32Red Sport will give us a £10.00 free bet to use on Day 1 of Cheltenham Festival 2017. Translated into matched betting terms, this gives us a guaranteed profit of £6.78 and here’s how…
Qualifying Bet:
We must opt in to this promotion to be eligible.
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.
To be eligible for our £10.00 free bet, we must place a £20.00+ win-only single on the Imperial Cup today (15:00 at Sandown – Saturday 11th March 2017). Qualifying bets must be placed after 19:00 on Friday 10th March 2017.
The back and lay odds should tighten up as the race draws nearer. In the meantime I’ll use fictional odds in the following example and I’ll update the bottom of the post with my actual selection after the race.
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.
We can calculate our lay stakes using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £19.17…
Place £20.00 on Fixe Le Kap @ 6.50 = Potential profit of £110.00
Lay £19.17 on Fixe Le Kap @ 6.80 = Potential liability of £111.18
Let’s have a look at our potential profit/loss for the possible outcomes…
| Fixe Le Kap wins | + £110.00 – £111.18 = £1.18 loss |
| Fixe Le Kap doesn’t win | – £20.00 + £18.78 (£19.17 minus 2% commission) = £1.22 loss |
So, regardless of the result of the race, we’ll lose a maximum of £1.22 in qualifying for our £10.00 free bet.
Free Bet:
Our £10.00 free bet will be credited by 12:00 on Tuesday 14th March 2017 and will be valid until 23:59 the same day. Free bet stakes are not included in any returns.
By using straightforward matched betting, we should be able to extract 80% of our £10.00 free bet as cash, so around £8.00. If we take into account our maximum qualifying loss of £1.22, this gives us a guaranteed profit of £6.78 on this 32Red Sport offer!
* I actually placed my qualifying bet on Fixe Le Kap at back odds of 8.00 and lay odds of 8.00, meaning I made a profit of £7.64 on this 32Red Sport offer. *
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Matt Kirman – Matched 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.