The Goodwood Festival 2017 gets underway on Tuesday and you don’t want to miss this Betfair offer! Place a £10.00 Exchange back bet on any race on Day 1 and Betfair will give us a £5.00 free Sportsbook bet to use on a multiple bet on Day 2. Translated into matched betting terms, this gives us a potential profit of £20.00+ and here’s how…
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.
To qualify for a £5.00 free Sportsbook bet, we must place a £10.00 Betfair Exchange back bet on any race on Day 1 of the Goodwood Festival 2017. Our qualifying bet will be our first eligible bet placed after 13:00 on Sunday 30th July 2017. Qualifying bets must be placed pre-race, to be eligible.
I like to place my exchange lay bets with Smarkets as they have great liquidity, the site is really easy to use and they only charge 2% commission. It’s also against the terms of this offer to lay against our selections at Betfair.
It’s entirely up to you which race and horse you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Limato in the 15:00 at Goodwood.
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 £9.44…
Place £10.00 on Limato @ 4.40 = Potential profit of £32.30
Lay £9.44 on Limato @ 4.50 = Potential loss of £33.04
Let’s have a look at our potential profit/loss for the possible outcomes…
| Limato wins | + £32.30 – £33.04 = £0.74 loss |
| Limato doesn’t win | – £10.00 + £9.25 (£9.44 minus 2% commission) = £0.75 loss |
So, we’ll make a maximum loss of £0.75 in qualifying for our £5.00 free bet.
Free Bet:
Our £5.00 free bet will be credited by 10:00 on Wednesday 2nd August 2017 and must be used on a multiple bet on Day 2 racing at Goodwood. If unused, our free bet will expire at 17:20 on Wednesday 2nd August 2017.
It’s up to you how you use the free multiple bet. One option is to lay it sequentially at Smarkets but I think we’re just as well placing it on a double and hoping to make a nice profit.
I’ll update the bottom of this post on Wednesday with my chosen double. It depends on the odds of the double as to how much profit we stand to make.
If we were to hit a winner at odds of 5/1 and taking our qualifying loss into account, that gives us a maximum potential profit of £24.26 on this Betfair offer!
* I opted to place my £5.00 free multiple bet on a Star Rider (13:50) and Ribchester (13:35) double at combined odds of 18.90. Neither horse won, meaning I made a loss of £0.75 on this Betfair offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.