The Ebor Festival 2016 gets underway today and BetBright are getting in on the action. Simply place a £5.00 bet on the 13:55 at York and if it loses, BetBright will give us a £5.00 free bet. Translated into matched betting terms, this gives us a guaranteed profit of £3.23 and here’s how…
Qualifying Bet:
This offer is only available on the BetBright app.
We need to find a selection that has tight back and lay odds. If we underlay our bet instead of matching it completely, we can guarantee ourselves a profit on any outcome. Having looked at the odds available, I’ve opted to place my qualifying bet on Bowson Fred.
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 stake using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £4.00 as our ‘Cashback’ figure as this is the amount we can expect to extract from our £5.00 free bet, should our selection lose…
As you can see, the calculator tells us that our lay stake should be £4.31…
Place £5.00 on Bowson Fred @ 12.00 = Potential profit of £55.00
Lay £4.31 on Bowson Fred @ 13.00 = Potential liability of £51.77
Let’s have a look at our potential profit/loss for the possible outcomes…
| Bowson Fred wins | + £55.00 – £51.77 = £3.23 profit |
| Bowson Fred doesn’t win | – £5.00 + £4.23 + £4.00 (extract 80% from our £5.00 free bet) = £3.23 profit |
So, regardless of the result of the race, we will make a guaranteed profit of £3.23 on this BetBright offer.
If you’re unsure how to extract 80% of our £5.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
Free bets will be valid for 7 days.
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.