The Cheltenham November Meeting 2017 gets underway today and you don’t want to miss this Coral offer! Simply place a bet on the 13:50 at Cheltenham and if our selection loses, Coral will refund our stake as a free bet, up to a maximum of £25.00. Translated into matched betting terms, this gives us a guaranteed profit of £14.36 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 between 08:00 and 13:50 on Friday 17th November 2017, to be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds. Having looked at the odds available, we could place our risk-free bet on Mick Thonic.
I like to place my exchange lay bets with Betfair as they have great liquidity 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 £18.75 as our ‘Cashback’ figure as this is the amount we can expect to extract (75%) from our £25.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £21.72…
Place £25.00 on Mick Thonic @ 12.00 = Potential profit of £275.00
Lay £21.72 on Mick Thonic @ 13.00 = Potential liability of £260.64
Let’s have a look at our potential profit/loss for the possible outcomes…
|Mick Thonic wins||+ £275.00 – £260.64 = £14.36 profit|
|Mick Thonic doesn't win||- £25.00 + £20.63 + £18.75 (extract 75% from our £25.00 free bet) = £14.38 profit|
So, regardless of the result of the race, we’ll make a guaranteed minimum profit of £14.36 on this Coral offer!
If our selection loses, our free bet will be credited by 12:00 on Saturday 18th November 2017 and will be valid for 24 hours.
If you’re unsure how to extract 75% of our £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Mick Thonic didn’t win the race, resulting in a profit of £14.38 on this Coral offer. *
Click here to take advantage of this Coral offer