Event Start Time (GMT): 20/06/2017 : 14:30
Royal Ascot 2017 gets underway on Tuesday and you don’t want to miss this Betfair offer! Place a £10.00 Exchange back bet on the 14:30 at Royal Ascot on Tuesday and Betfair will give us a £10.00 free Sportsbook bet to be used on the 16:20. Translated into matched betting terms, this gives us a guaranteed profit of £7.55 and here’s how…
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.
Qualifying bets must be placed pre-race at odds of 1.20 (1/5) or greater on the ‘Win’ market, to be eligible. Only bets on the Day of Race market count. Antepost, Sportsbook and Exchange in play bets do not count.
To qualify for a £10.00 free Sportsbook bet on the 16:20 at Royal Ascot on Tuesday, we must place an Exchange back bet of £10.00 on the 14:30 at Royal Ascot. We can therefore place a back bet on the Betfair Exchange and then lay our selection at Smarkets. It’s important to note that it’s against the terms of the offer to lay against our qualifying bet on the Betfair Exchange.
It’s entirely up to you which horse you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Ribchester.
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 £9.75…
Place £10.00 on Ribchester @ 2.00 = Potential profit of £9.50
Lay £9.75 on Ribchester @ 2.02 = Potential loss of £9.94
Let’s have a look at our potential profit/loss for the possible outcomes…
|Ribchester wins||+ £9.50 – £9.94 = £0.44 loss|
|Ribchester doesn't win||- £10.00 + £9.55 (£9.75 minus 2% commission) = £0.45 loss|
So, we’ll make a maximum loss of £0.45 in qualifying for our £10.00 free bet.
Our £10.00 free Sportsbook bet will be credited upon settlement of the first race and may take up until 16:00 to be credited. Our free bet will expire at the start of the 16:20.
By using straightforward matched betting, we should be able to extract at least 80% of the £10.00 free bet as cash, so around £8.00. If we take into consideration our maximum qualifying loss of £0.45, we should make a guaranteed profit of £7.55 on this Betfair offer!