Glorious Goodwood 2016 concludes today and BetBright are getting in on the action. Simply place a £20.00 bet on the 14:00 at Goodwood and if it loses, BetBright will give us a £10.00 free bet to be used on the 15:45 at Goodwood. Translated into matched betting terms, this gives us a guaranteed profit of £5.53 and here’s how…
Qualifying Bet:
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 Projection.
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 £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract from our £10.00 free bet, should our selection lose…
As you can see, the calculator tells us that our lay stake should be £17.89…
Place £20.00 on Projection @ 7.00 = Potential profit of £120.00
Lay £17.89 on Projection @ 7.40 = Potential liability of £114.47
Let’s have a look at our potential profit/loss for the possible outcomes…
Projection wins | + £120.00 – £114.47 = £5.53 profit |
Projection doesn’t win | – £20.00 + £17.53 + £8.00 (extract 80% from our £10.00 free bet) = £5.53 profit |
So, regardless of the result of the race, we will make a guaranteed profit of £5.53.
If our qualifying bet loses, our free bet will be credited by 14:45 and must be used on the 15:45 at Goodwood.
If you’re unsure how to extract 80% 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.