There’s a big day of racing at Newcastle on Thursday, and you don’t want to miss this Betfair Exchange money back offer! Place a bet of up to £10.00 on the 18:45 Newcastle, and Betfair will refund your stake as a free bet if your horse fails to place. Translated into matched betting terms, this gives you a potential profit of £6.69 and here’s how…
Key terms
- Place a bet of up to £10.00 on the 18:45 Newcastle (Thursday 15th September 2022).
- Applies to bets on the Exchange ‘Win’ market.
- Applies to your first bet placed after 08:00 on Wednesday 14th September 2022.
- Money back as a free bet up to £10.00 if your horse does not finish 1st, 2nd or 3rd.
- Applies to back bets only; lay bets do not qualify.
- Betfair Rewards ‘Basic’ customers are excluded from this promotion.
- Your free bet will be credited within 24 hours if eligible.
- The free bet will be valid on any horse racing market for 7 days.
Qualifying bet
Please see my ‘Qualifying Bets Guide‘ if you’d like more information about them and how they work.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with pretty long odds hoping it won’t finish 1st, 2nd or 3rd.
At the time of writing, ‘Yaaser‘ is available at back odds of 13.00 and lay odds of 14.00.
You can calculate your lay stake using my Matched Betting Calculator.
As you can see, the calculator tells you that your lay stake should be £8.87.
Place £10.00 on Yaaser @ 13.00 = Potential profit of £114.00
Lay £8.87 on Yaaser @ 14.00 = Potential liability of £115.31
Outcomes
Let’s look at your profit/loss for the possible outcomes.
| Outcome | Betfair | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Yaaser wins | + £114.00 | – £115.31 | £1.31 loss | |
| Yaaser finishes 2nd or 3rd | – £10.00 | + £8.69 | £1.31 loss | |
| Yaaser does not finish 1st, 2nd or 3rd | – £10.00 | + £8.69 | + £8.00 | £6.69 profit |
So, you’ll make a profit of £6.69 if Yaaser does not finish 1st, 2nd or 3rd. You stand to lose £1.31 on any other outcome. Risking £1.31 to make a potential profit of £6.69 gives you effective odds of 6.11, 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 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.
* Yaaser finished 3rd, resulting in a £1.31 loss on this Betfair Exchange offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.