Coral Offer – Ebor Festival 2016

The Ebor Festival 2016 gets underway at York this afternoon and you don’t want to miss this Coral offer. Place a Win Single bet of £20.00+ or £10.00 each way on the Symphony Group Stakes (1.55 York) and Coral will give us a £10.00 free bet to use on any other race from York this afternoon. Translated into matched betting terms, this gives us a guaranteed profit of £6.78 and here’s how…

Qualifying Bet:

If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy for a walk-through guide on how they should be done.

Qualifying bets must be placed after 08:00 today (Wednesday 17th August 2016) to be eligible.

We must place a Win Single bet of £20.00+ or £10.00 each way at odds of 1.50 (1/2) or greater on the Symphony Group Stakes (1.55 York).

It’s entirely up to you which horse you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Duke Of Firenze.

I like to place my exchange lay bets with Smarkets as they have great liquidity, 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 calculate our lay stake using my matched betting calculator…

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 £19.16…

coral logo

Place £20.00 on Duke Of Firenze @ 11.00 = Potential profit of £200.00

smarkets whiteLay £19.16 on Duke Of Firenze @ 11.50 = Potential liability of £201.22

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

Duke Of Firenze wins + £200.00 – £201.22 = £1.22 loss
Duke Of Firenze doesn’t win – £20.00 + £18.78 (£19.16 minus 2% commission) = £1.22 loss

So, regardless of the outcome of the race, we will lose £1.22 in qualifying for our £10.00 free bet.

Free Bet:

Our £10.00 free bet will be credited upon settlement of our qualifying bet and must be used on any other York race today (Wednesday 17th August 2016).

By using straightforward matched betting, we should be able to extract 80% of our £10.00 free bet as cash, so around £8.00. If we take into consideration our qualifying loss of £1.22, this gives us a guaranteed profit of £6.78 on this Coral offer!

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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.