UK horse racing returns at Newcastle on Monday and you don’t want to miss this Betfair ‘Bet & Get’ offer! Simply place a £10.00+ Exchange back bet on the 13:00 at Newcastle and Betfair will give us a £5.00 free bet to start a free bet streak. Translated into matched betting terms, this gives us a guaranteed profit of £3.23 and here’s how…
Key Terms:
- We must opt-in to this promotion to be eligible.
- The minimum stake to qualify is £10.00.
- We must place an Exchange back bet on the 13:00 at Newcastle on Monday 1st June 2020.
- £5.00 free bet will be valid on the Betfair Exchange for 48 hours.
- Every time we place a winning bet with our free bet, we’ll receive another free bet matching the winning stake.
Qualifying Bet:
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
If you’re paying 2% commission with Betfair’s Basic package, you won’t be eligible for this ‘Bet & Get’ Exchange offer.
We’ll need to lay our bet at another exchange.
It’s entirely up to you what you place your qualifying bet on. Having looked at the odds available, we could place our qualifying bet on Stone Mason.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £9.68.
Aim to lose no more than £0.50 on our qualifying bet
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Betfair | Other Exchange | Profit/Loss |
|---|---|---|---|
| Stone Mason wins | +£16.34 | -£16.84 | £0.50 loss |
| Stone Mason doesn’t win | -£10.00 | +£9.48 | £0.52 loss |
So, regardless of the outcome, we’ll lose a maximum of £0.52 in qualifying for our £5.00 free bet.
Free Bet(s):
We’ll receive our £5.00 free bet upon settlement of our qualifying bet. The free bet will be valid on the Betfair Exchange for 48 hours, excluding SP bets and the following markets: Asian Handicap, Asian Total Goals, Spreads and Totals, Line Markets & Each Way.
Every time we place a winning bet with our free bet, we’ll receive another free bet matching the winning stake. The size of the free bet re-credited will be the stake in the case of back bets, or our liability in the case of lay bets (£5 max).
I think it’s best to just place and lay the free bet as normal and if it wins, the extra free bet will be a nice little bonus. You could always place your free bet at lower odds than normal if you wanted to maximise your chances of hitting a winner.
By using straightforward matched betting, we should be able to extract 75% cash from our initial £5.00 free bet, so £3.75. If we take into account our maximum qualifying loss of £0.52, this gives us a guaranteed profit of £3.23 on this Betfair Exchange offer!
* Stone Mason failed to win the 13:00 at Newcastle. We could have placed our £5.00 free bet on Little Red Socks in the 14:10 at Newcastle at back odds of 4.80 and lay odds of 4.90. Little Red Socks failed to win the race, resulting in a profit of £3.10 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.