BetBright Offer – 14:00 Goodwood (Saturday)

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…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £
Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £17.89…

betbright logo

Place £20.00 on Projection @ 7.00 = Potential profit of £120.00

smarkets white

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

Matt KirmanMatched 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.