There’s a big day of racing at Newbury on Saturday, and you don’t want to miss this Betfair Exchange money back offer! Place a bet of up to £10.00 on the 13:15 Newbury, and if your horse fails to finish 1st or 2nd, Betfair will refund your stake as a free bet. Translated into matched betting terms, this gives us a potential profit of £6.90 and here’s how…
Key terms
- Applies to our first cash bet on the 13:15 Newbury on Saturday 12th February 2022.
- Applies to bets placed from 10:00 on Thursday 10th February 2022.
- 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 or 2nd.
- Applies to back bets only; lay bets do not qualify.
- Betfair Rewards ‘Basic’ customers are excluded from this promotion.
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 fairly long odds in the hope it won’t finish 1st or 2nd.
At the time of writing, Grumpy Charley is available at back odds of 7.20 and lay odds of 7.60.
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 £9.09…
Place £10.00 on Grumpy Charley @ 7.20 = Potential profit of £58.90
Lay £9.09 on Grumpy Charley @ 7.60 = Potential liability of £59.99
Outcomes
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Betfair | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Grumpy Charley wins | + £58.90 | – £59.99 | £1.09 loss | |
| Grumpy Charley finishes 2nd | – £10.00 | + £8.90 | £1.10 loss | |
| Grumpy Charley fails to finish 1st or 2nd | – £10.00 | + £8.90 | + £8.00 | £6.90 profit |
So, we’ll make a profit of £6.90 if Grumpy Charles fails to finish 1st or 2nd, or we’ll lose a maximum of £1.10 on any other outcome. Risking £1.10 to make a profit of £6.90 gives us effective odds of 7.27, 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 of how it should be done.
* Grumpy Charley finished 3rd, resulting in £6.90 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.