The Gold Cup is up for grabs at Cheltenham today and BetBright are getting in on the action. Place a bet on the 14.25 at Cheltenham today and if it loses, BetBright will refund us as a free bet up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £4.76 and here’s how…
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walkthrough guide on how it should be done.
As we get a free bet refund if our qualifying bet loses, this is effectively a risk-free offer and so we need to select a horse with long odds. Having looked at the odds available, I’ve opted to place my qualifying bet on Boondooma.
I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, 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 work out our lay stake by entering our odds into the following risk-free bet calculator.
As you can see, the calculator tells us that our lay stake should be £7.41.
Place £10.00 on Boondooma @ 10.00 = Potential profit of £200.00
Lay £7.41 on Boondooma @ 12.50 = Potential liability of £85.24
Let’s have a look at our potential profit/loss for the possible outcomes…
Boondooma wins | +£90.00 – £85.24 = £4.76 profit |
Boondooma doesn’t win | -£10.00 + £7.26 + £7.50 (extract 75% from our £10.00 free bet) = £4.76 profit |
So regardless of the result of the race, we will make a guaranteed profit of £4.76 on this BetBright offer!
If you’re unsure how to extract 75% of our £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
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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.