It’s Day 1 of Royal Ascot 2023 on Tuesday, and Betfair are getting in on the action! Place an Exchange bet of up to £10.00 on the 14:30 Royal Ascot, and if your bet loses, your stake will be refunded as a free bet. Translated into matched betting terms, this gives you a profit of £6.42 and here’s how…
Key terms
- Available to selected customers only.
- Opt-in required.
- You will not be eligible for this promotion if you have opted into the My Betfair Rewards ‘Basic’ package.
- Place an Exchange bet of up to £10.00 on the 14:30 Royal Ascot (Tuesday 20th June 2023).
- Applies to your first bet only.
- Applies to back bets only; lay bets do not qualify.
- Money back as a free bet if your bet loses.
- If eligible, your free bet will be credited within 24 hours.
- The free bet will be valid on any horse racing market for 7 days.
Qualifying bet
If your qualifying bet loses, Betfair will refund your stake as a free bet, so you can treat this as a ‘Money Back if Bet Loses‘ offer.
You’ll need to place your bet at long odds to maximise profit.
At the time of writing, ‘Native Trail‘ is available at back odds of 8.80 and lay odds of 9.00.
You can work out your lay stake using the ‘Money Back if Bet Loses‘ setting on my Matched Betting Calculator. You can enter ‘£8.00‘ as your ‘Cashback’ figure as that is the amount you can expect to convert your £10.00 free bet into, should your bet lose.
As you can see, the calculator tells you that your lay stake should be £8.46.
Place £10.00 on ‘Native Trail’ @ 8.80 = Potential profit of £74.10
Lay £8.46 on ‘Native Trail’ @ 9.00 = Potential liability of £67.68
Outcomes
Let’s look at your profit/loss for the possible outcomes.
| Outcome | Betfair | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Native Trail wins | + £74.10 | – £67.68 | £6.42 profit | |
| Another horse wins | – £10.00 | + £8.46 | + £8.00 | £6.46 profit |
So, no matter the outcome, you’ll make a minimum profit of £6.42 on this Betfair Exchange offer!
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.
* Triple Time won the race, resulting in a £6.46 profit 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.