Double Winnings (15:35 Newbury) – Ladbrokes

There’s a big day of racing at Newbury today and you don’t want to miss this Double Winnings offer from Ladbrokes! Place a single bet on the 15:35 at Newbury today 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 potential profit of £36.67 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 00:01 and 15:35 (race off) on Saturday 10th February 2018, to be eligible.

To qualify, we must place a single bet on the 15:35 at Newbury. 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 4 days. 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 Jenkins.

In order to work out our back stake, we need to divide £50.00 by 10.00 (back odds minus 1.00). This gives us a back stake of £5.00, which is perfect as it’s best that we stick to round numbers when placing our qualifying bet.

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 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 £4.42…

Ladbrokes logo

Place £5.00 on Jenkins @ 11.00 = Potential profit of £50.00

Betfair logo

Lay £4.42 on Jenkins @ 12.50 = Potential liability of £50.83

Outcomes:

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

Jenkins wins + £50.00 – £50.83 + £37.50 (extract 75% from our £50.00 in free bets) = £36.67 profit
Jenkins doesn’t win – £5.00 + £4.19 = £0.81 loss

So, if Jenkins wins the race, we’ll make a nice profit of £36.67. However, if Jenkins doesn’t win, we’ll have made a loss of £0.81. Risking £0.81 to make a profit of £36.67 gives us effective odds of 46.27. So, given that the odds are 11.00 for Jenkins to win, this a profitable offer in the long run.

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! *

* The race was won by Kalashnikov, resulting in a loss of £0.81 on this Ladbrokes double winnings 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.