There’s a big day of racing at Newmarket on Friday and you don’t want to miss this Betfair Exchange free bet offer! Place a bet of up to £10.00 on the 13:50 Newmarket and if your horse fails to finish 1st, 2nd or 3rd, Betfair will refund your stake as a free bet. Translated into matched betting terms, this gives us a potential profit of £6.44 and here’s how…
Key terms
- Applies to our first cash bet on the 13:50 Newmarket.
- Applies to bets placed from 10:00 on Wednesday 6th October 2021.
- Applies to bets up to the value of £10.00 (£10.00 win or £5.00 each way).
- Money back as a free bet if our horse fails to finish 1st, 2nd or 3rd.
- Applies to back bets only, lay bets do not qualify.
- Betfair Rewards ‘Basic’ customers are excluded from this promotion.
Qualifying bet
If you’d like more information about qualifying bets and how they work, please see my qualifying bets guide.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly long odds in the hope it won’t finish 1st, 2nd or 3rd.
At the time of writing, Mitbaahy is available at back odds of 14.00 and lay odds of 15.50.
We can calculate our lay stakes using my Matched Betting Calculator…
As you can see, the calculator tells us that our lay stake should be £8.62…
Place £10.00 on Mitbaahy @ 14.00 = Potential profit of £123.50
Lay £8.62 on Mitbaahy @ 15.50 = Potential liability of £124.99
Outcomes
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Betfair | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Mitbaahy wins | + £123.50 | – £124.99 | £1.49 loss | |
| Mitbaahy finishes 2nd or 3rd | – £10.00 | + £8.44 | £1.56 loss | |
| Mitbaahy finishes outside top 3 | – £10.00 | + £8.44 | + £8.00 | £6.44 profit |
So, we’ll make a nice profit of £6.44 if Mitbaahy fails to finish 1st, 2nd or 3rd or we’ll lose a maximum of £1.56 on any other outcome. Risking £1.56 to make a profit of £6.44 gives us effective odds of 5.13, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If eligible, free bets will be credited within 24 hours and will be valid on any horse racing market for 7 days.
If you’re unsure how to convert your £10.00 free bet into £8.00 cash (80%), please see my free bets guide for a walkthrough of how it should be done.
* Mitbaahy finished outside the top 3, resulting in a profit of £6.44 on this Betfair Exchange offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.