The Cheltenham Festival 2018 gets underway with the Supreme Novices’ Hurdle on Tuesday and you don’t want to miss this Double Winnings offer from Ladbrokes! Place a single bet on the 13:30 at Cheltenham and if our horse wins, Ladbrokes will double our winnings as a free bet, up to a maximum of £50.00. Translated into matched betting terms, this gives us a guaranteed profit of £7.37 and here’s how…
The Terms:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
Qualifying bets must be placed between 08:00 on Thursday 1st March 2018 and 13:30 (race off) on Tuesday 13th March 2018, to be eligible.
To qualify, we must place a single bet on the 13:30 at Cheltenham. If our selection wins the race, Ladbrokes will double our winnings in free bets, up to a maximum of £50.00. Free bets due of £20.00 or more, will be be split into two equal free bets. If eligible, free bets will be credited within 24 hours of our bet being settled and will be valid for 24 hours. Free bet stakes are not included in any returns.
Qualifying Bet:
It’s entirely up to you which horse you go for. Having looked at the odds available, we could place our qualifying bet on Getabird.
In order to work out our back stake, we need to divide £50.00 by 1.75 (back odds minus 1.00). This gives us a back stake of £28.51. It’s best that we stick to round numbers when placing our qualifying bet, so we should stake £30.00 instead.
We need to work out our effective back odds given that if our horse wins, we’ll be getting double winnings paid as a free bet.
If Getabird wins, we’ll receive £82.50 cash plus a £50.00 free bet. By using straightforward matched betting, we should be able to extract 75% of the £50.00 free bet as cash, so £37.50, giving us overall cash returns of £120.00. We then just need to divide £120.00 by our stake of £30.00, which gives us effective back odds of 4.00.
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 calculate our lay stake by entering our effective back odds of 4.00 into my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £39.34…
Place £30.00 on Getabird @ 2.75 = Potential profit of £52.50
Lay £39.34 on Getabird @ 3.10 = Potential liability of £82.61
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Getabird wins | + £52.50 – £82.61 + £37.50 (extract 75% from our £50.00 in free bets) = £7.39 profit |
| Getabird doesn’t win | – £30.00 + £37.37 = £7.37 profit |
So, regardless of the outcome, we’ll make a guaranteed profit of £7.37 on this Ladbrokes Double Winnings offer!
If you’re unsure how to extract 75% cash from £50.00 in free bets, 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! *
* Getabird didn’t win the race, resulting in a profit of £7.37 on this Ladbrokes 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.