It’s Day 2 of the Cheltenham Festival 2018 and you don’t want to miss this Money Back Special from Genting Bet! Place a bet on the Queen Mother Champion Chase (15:30) and Genting Bet will refund our first losing bet as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £4.68 and here’s how…
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed before 15:30 (race-off) on Wednesday 14th March 2018, to be eligible.
Our first losing settled bet will be refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds in order to maximise our profit.
Having looked at the odds available, we could place our qualifying bet on Min.
I like to place my exchange lay bets with Betfair as they have great liquidity in the run up to races and the site is really easy to use.
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £7.50 as our ‘Cashback’ figure as this is the amount we can expect to extract (75%) 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 £7.58…
Place £10.00 on Min @ 4.50 = Potential profit of £35.00
Lay £7.58 on Min @ 5.00 = Potential liability of £30.32
Let’s have a look at our potential profit/loss for the possible outcomes…
|Min wins||+ £35.00 – £30.32 = £4.68 profit|
|Min doesn't win||- £10.00 + £7.20 + £7.50 (extract 75% from our £10.00 free bet) = £4.70 profit|
So, regardless of the result of the race, we’ll make a guaranteed profit of £4.68 on this Genting Bet offer!
If our selection loses, our free bet will be credited within 24 hours of our qualifying bet being settled. Our free bet will be valid on any Sports market for 3 days and free bet stakes are not included in any returns.
If you’re unsure how to extract 75% cash from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* See my Horse Racing Offers page for a full list of money back offers available today! *
* Min didn’t win the race, resulting in a profit of £4.70 on this Genting Bet offer. *
Click here to take advantage of this Genting Bet offer