It’s the Champion Chase on Wednesday and you don’t want to miss this Virgin Bet Money Back Special! Simply place a bet on the 15:30 at Cheltenham and if it loses, Virgin Bet 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 £6.00 and here’s how…
Key Terms:
- Applies to our first single cash bet placed on the Champion Chase.
- Qualifying bets must be placed before 15:30 (race-off) on Wednesday 11th March 2020.
- If our bet loses, Virgin Bet will refund our stake as a free bet, up to a maximum of £10.00.
Qualifying Bet:
Losing stakes are refunded as a free bet, so we can treat this as a risk-free bet offer.
We’ll need to select a horse with long odds in order to maximise our profit.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Dynamite Dollars in the following example and I’ll update the bottom of the post with an actual selection after the race.
At the time of writing, laying our bet at Betfair is likely to give us the biggest guaranteed profit.
Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.
If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.
For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £10.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £8.14…
Place £10.00 on Dynamite Dollars @ 13.00 = Potential profit of £120.00
Lay £8.14 on Dynamite Dollars @ 15.00 = Potential liability of £113.96
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Dynamite Dollars wins | +£120.00 | -£113.96 | £6.04 profit | |
| Dynamite Dollars doesn’t win | -£10.00 | +£7.97 | +£8.00 | £5.97 profit |
So, as you can see, with some good odds we should be able to make a guaranteed profit of £6.00 on this Virgin Bet offer!
If eligible, our free bet will be credited within 3 hours of our qualifying bet being settled and will be valid for 7 days. Free bet stakes are not included in any returns.
If you’re unsure how to extract £8.00 cash (80%) from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Politologue was available at back odds of 8.50 and lay odds of 9.40. Politologue won the race, resulting in a profit of £6.04 on this Virgin Bet 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.