Coral Offer – 2.20 Newmarket (Saturday)

The racing action continues at Newmarket today and Coral are getting in on the action! Simply bet £1.00+ on the 2.20 at Newmarket and if our horse loses, Coral will refund the losing part of win and each-way singles as a free bet, up to £10.00, to use on any of the remaining six live Channel 4 races today. Translated into matched betting terms, this gives us a guaranteed profit of £6.71 and here’s how…

Qualifying Bet:

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 at odds of 2.00 (evens) or greater between 08:00 and 14:20 today (Saturday 8th October 2016), to be eligible.

As we get a free bet refund if our qualifying bet loses, this is effectively a risk-free offer and so we need to select a horse with long odds. Having looked at the odds available, I’ve opted to place my qualifying bet on Amabilis.

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

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 from our £10.00 free bet refund, should our horse lose…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) 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 £8.89…

coral logo

Place £10.00 on Amabilis @ 11.00 = Potential profit of £100.00

smarkets white

Lay £8.89 on Amabilis @ 11.50 = Potential liability of £93.29

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

Amabilis wins + £100.00 – £93.29 = £6.71 profit
Amabilis doesn’t win – £10.00 + £8.71 + £8.00 (extract 80% from our £10.00 free bet) = £6.71 profit

So, regardless of the result of the race, we’ll make a guaranteed profit of £6.71 on this Coral offer!

If our selection loses, our free bet will be credited upon settlement of our qualifying bet and must be used on any of the remaining six live Channel 4 races (2.35 York, 2.55 Newmarket, 3.10 York, 3.30 Newmarket, 3.45 York and 4.10 Newmarket).

If you’re unsure how to extract 80% of our £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.