Kick-off time (GMT): 15/03/2016 : 13:30
The Cheltenham Festival gets underway on Tuesday and ApolloBet are running a great little offer! New customers can get evens (enhanced from 1/33) on Willie Mullins to be named top trainer at Cheltenham 2016. What’s more, if your bet doesn’t win, they’ll give you your money back as a free bet! All of this means you can make a guaranteed profit of £12.77 and here’s how…
Open a new account with ApolloBet and place your first bet of £20.00 on Willie Mullins to be Top Trainer at the normal price on the website (1/33 at the time of writing). If Mullins is named top trainer, cash will be paid based on the normal price on the website, and the extra amount will be credited in free bets within 48 hours. If Mullins isn’t named top trainer, your stake will be refunded as a free bet.
The odds of Mullins being named top trainer, at the time of writing, are 1/33 so a £20.00 bet would return £20.61 cash and £19.39 as a free bet.
By using straightforward matched betting, you can extract approximately 80% cash from any free bet, so in this case £15.51, giving you total cash returns of £36.12!
The fact that you are betting £20.00 to return £36.12, means you are getting effective odds of 1.806 and you can enter these effective back odds into my matched betting calculator to calculate your lay stake. You need to use the ‘risk-free’ setting to factor in your £20.00 free bet refund, should Mullins not be named top trainer. You can enter £16.00 as your cashback figure as this is the amount you would expect to extract from a £20.00 free bet.
As you can see, the calculator tells you that your lay stake should be £17.65…
Place £20.00 on Mullins to be top trainer @ 1.806 = Potential profit of £16.12
Let’s have a look at your potential profit/loss for the possible outcomes…
|Mullins named top trainer||+ £16.12 – £3.35 = £12.77 profit|
|Mullins not named top trainer||- £20.00 + £16.00 (extracted from £20.00 free bet refund) + £16.77 = £12.77 profit|
So regardless of whether or not Mullins is named the top trainer, you will make guaranteed profit of £12.77, which is far more than you can make from their standard £5.00 welcome offer!