Betway Offer – Royal Ascot 2017

June 18, 2017 / Horse Racing / 28 Comments

Event Start Time (GMT): 20/06/2017 : 14:30

Guaranteed profit
£32.00+

Royal Ascot 2017 gets underway on Tuesday and you don’t want to miss this Betway offer! Simply place a bet on the first race each day and if our selection loses, Betway will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £32.00+ and here’s how…

Qualifying Bets:

This is a risk-free offer, so we can guarantee ourselves a profit on any outcome! If you’re unsure how to do risk-free bet offers, please see my Risk-Free Bet Strategy page for a walk-through guide on how it should be done.

This offer is available on the first race each day as follows…

Race Time Date
Queen Anne Stakes 14:30 Tuesday 20th June 2017
Jersey Stakes 14:30 Wednesday 21st June 2017
Norfolk Stakes 14:30 Thursday 22nd June 2017
Albany Stakes 14:30 Friday 23rd June 2017
Chesham Stakes 14:30 Saturday 24th June 2017

Only bets placed after 00:00 on Monday 12th June 2017 will be eligible.

We need to select horses with long odds in order to maximise our profits.

The back and lay odds should tighten up on the day of each race. In the meantime, I’ll use fictional odds for the Queen Anne Stakes in the following example to illustrate how this offer should be done each day.

I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races and the site is really easy to use. They also charge just 2% commission compared to the 5% charged by other betting exchanges.

We just need to select the ‘Risk-Free Bet’ setting on my matched betting calculator and enter £8.00 as our ‘Cashback’ amount as we can expect to extract 80% of our £10.00 free bet refund as cash…


Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Adjust your lay stake

Min £
Max £

Lay stake required: £

Bookie
Exchange
Total
If back (bookie) bet wins
= £
If lay (exchange) bet wins
= £
Bookie
Exchange
Cashback
Total
If back
bet wins
= £
If lay
bet wins
= £

Total profit:

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins:
If lay (exchange) bet wins:

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins:
If lay (exchange) bet wins:

As you can see, the calculator tells us that our lay stake should be £8.59…

Betway logo

Place £10.00 on Mutakayyef @ 8.00 = Potential profit of £70.00

Smarkets logo

Lay £8.59 on Mutakayyef @ 8.40 = Potential liability of £63.56

Let’s have a look at our potential profit/loss for the possible outcomes…

Mutakayyef wins + £70.00 – £63.56 = £6.44 profit
Mutakayyef doesn't win - £10.00 + £8.41 + £8.00 (extract 80% from our £10.00 free bet) = £6.41 profit

So, regardless of the outcome and with some good odds, we should make a guaranteed profit of £6.40+ each day. With five days of racing to look forward to, this gives us an overall guaranteed profit of £32.00+ on this Betway offer!

If eligible, free bets will be credited within 24 hours of our qualifying bet being settled and will be valid for 24 hours. Free bet stakes are not included in any returns.

I’ll update the following table with my actual selections at the end of the festival…

Race Selection Back Odds Lay Odds Profit
Queen Anne Stakes Deauville 15.00 16.50 £6.44
Jersey Stakes Daban 8.00 8.80 £6.03
Norfolk Stakes It Dont Come Easy 9.00 9.60 £6.38
Albany Stakes Fairyland 9.00 9.80 £6.21
Chesham Stakes Nyaleti 13.00 14.00 £6.55
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28 Comments

  1. James

    June 20, 2017
    / Reply

    Can all bets be placed today, or has each bet to be placed at the start of each day?

    • Matt

      Matt

      June 20, 2017
      / Reply

      '8. Only bets placed from Monday 12th June, 2017 onwards will be valid for the promotion.'

      You should therefore be fine to place in advance but I would recommend you just place them each day.

  2. James

    June 20, 2017
    / Reply

    Cheers Matt.

  3. Jim

    June 20, 2017
    / Reply

    How long do betway take to give out the freebet? Skybet has already delivered.

  4. jermaine

    June 20, 2017
    / Reply

    i missed the bet on the 1st day am i still eligible for the rest of the week?

    • Matt

      Matt

      June 21, 2017
      / Reply

      Yes mate, you don't have to participate every day.

  5. Connor

    June 20, 2017
    / Reply

    Anyone had free bets credited? Still waiting on mine

  6. Mark

    June 20, 2017
    / Reply

    Same here and they are usually pretty quick. I smell the gubhammer.....

    • Jim

      June 20, 2017
      / Reply

      I just realised that they never sent me a text about this offer, so you could be onto something.

      • Connor

        June 21, 2017
        / Reply

        Just searched my emails and account was restricted back in April. Hidden away in promotional emails.

        • Jim

          June 21, 2017
          / Reply

          Just had a chat with them, they gubbed me last week...shame betway was one of the more profitable ones.

          • Mark

            June 21, 2017
            / Reply

            Couldnt use live chat so emailed them reckon they sent the email last week, yeah right. Partly blame myself as I usually stick to the rule of wait for the email. If you don't reckon that can be a red flag.

  7. bfc19

    June 20, 2017
    / Reply

    Nothing for me either

  8. sleepless

    sleepless

    June 21, 2017
    / Reply

    Kings of the stealth gubbers. Say they send emails - Lying.

    Tell 'em on social media what welshers/shysters/ scammers Betway are.

    How do you think they pay for their stupid tv adverts

  9. Nora

    June 21, 2017
    / Reply

    Just asked them about my free bet. Apparently I'm gubbed.

    • Alex

      June 21, 2017
      / Reply

      I'm in the same boat as I've been told I've been gubbed on live chat but DIDN'T receive an email as claimed. Got the £10 free bet credited as a good will gesture so suggest you get on live chat to see if you can get it as well.

  10. Finlay

    June 21, 2017
    / Reply

    Got told the same thing that I'd been gubbed a couple of weeks ago after they sent me an email. Never received an email so complained on the live chat that they'd been advertising an offer to me without informing me I was ineligible for the offer. Gave me a free £10 bet straight away.

  11. cosmos

    June 21, 2017
    / Reply

    No harm in being nice to the livechat operators to see if they will honour it. Didn't work for me when I found out I was gubbed a while back but worth a try. They are a joke though with their "you were emailed last week" line.

    • Archie

      June 21, 2017
      / Reply

      I was also told that I had been emailed a fortnight ago excluding me from further promotions. Like the rest of you I received no such email. Despite pointing this out I was told the free bets wouldn't be honoured but after a bit of persistence and asking to be sent a copy of their dispute resolution procedure they finally gave in a credited me with both yesterday's and today's freebies. Maybe Matt should include a health warning when posting details of future Betway "offers".

  12. Mark

    June 21, 2017
    / Reply

    I replied to email saying I never received email and if thats the case why is the offer still being promoted on my promotion tab. Got this reply:
    Greetings from Betway!
    We will request for the email to be resent to you.
    Please allow up to 24 hours.
    Should you require any further assistance, we are available 24 hours a day, 7 days a week, for your convenience.
    All the best,

    Laughing too much to get mad. Oh well worth a try to get last free bet out of them.

  13. Mick McDermid

    June 22, 2017
    / Reply

    Haven't received any gubbing email but when I tried to put £10 on today (yesterday was fine - it won, an a mug bet) it said I was over my stake for this selection. Put a £10 mug on a different Ascot race and tried again with a fiver and it went through. Very odd though.

  14. Timmy

    June 22, 2017
    / Reply

    Hi Matt, I think in your list the time for tomorrow's race should be 14:30 like the others?

    • Matt

      Matt

      June 23, 2017
      / Reply

      Thanks Timmy, looks like I copied their typo. I did think it was strange that Friday's first race was a different time to the other days!

  15. Neil

    June 22, 2017
    / Reply

    Yep, gubbed too, no email either!!

  16. Ash

    June 23, 2017
    / Reply

    I've been gubbed too, apparently they sent me an email 2 weeks ago though I didn't receive it.
    Strange thing is I have been betting on lots of things over the last few weeks that don't involve promotions with them and losing and now they gub me!
    On another note thanks very much Matt for your blog, it's brilliant

    • Matt

      Matt

      June 23, 2017
      / Reply

      You're welcome Ash.

  17. Jamie

    June 23, 2017
    / Reply

    Betway are an absolute joke, they gubbed me ages ago when I was giving them more money than I was taking. Recently made an account in my sisters name tho but won't be long till that gets gubbed

  18. Betwaysucks

    June 24, 2017
    / Reply

    Did they actually pay out to anyone? My girlfriend and I both have accounts, not gubbed, no gubbing emails, no payouts. Surely, that is fraud isn't it?

    Strange how live chat isnt working!!!

    Crooks!


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