It’s time for a Royal Ascot Betfair free bet offer! If the favourite wins the Queen Anne Stakes (2:30) at Royal Ascot on Tuesday, Betfair will refund all losing outright bets on that race as a free bet up to £25.00. Translated into matched betting terms, this gives us a risk-free potential profit of £13.91 and here’s how…
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walkthrough guide on how it should be done.
For this particular offer, we need to select a horse that isn’t likely to start the race as the favourite. Toronado looks odds on to start as the favourite at odds of around 1.80. Having looked at the other odds on offer, I’ve opted to place my qualifying bet on Anodin.
Place £25.00 on Anodin @ 10.00 = Potential profit of £225.00
Lay £22.83 on Anodin @ 11.00 = Potential liability of £228.30
Let’s have a look at our potential profit/loss for the possible outcomes…
| Anodin wins | +£225.00 – £228.30 = £3.30 loss |
| Toronado wins | -£25.00 + £21.69 + £20.00 (extract 80% from our £25.00 free bet) = £16.69 profit |
| Neither wins | -£25.00 + £21.69 = £3.31 loss |
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
So as things stand we will make £16.69 profit if Toronado wins. Unfortunately, we also stand to lose a maximum of £3.31 on any other outcome and so we need to insure ourselves against this by laying the favourite at the betting exchange. In order to calculate our lay stake, we need to divide £3.31 by 0.95 to account for the 5% commission. This gives us a lay stake of £3.48.
Lay £3.48 on Toronado @ 1.80 = Potential liability of £2.78
Let’s have a look at our overall profit/loss for the possible outcomes…
| Anodin wins | -£3.30 + £3.31 = £0.01 profit |
| Toronado wins | £16.69 – £2.78 = £13.91 profit |
| Neither wins | -£3.31 + £3.31 = £0.00 |
So if Toronado doesn’t win, we will break even and there’s no harm done. However, if Toronado justifies his favourite tag by winning the Queen Anne Stakes, we will make a nice profit of £13.91!
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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.