There’s a big day of racing at Sandown today and you don’t want to miss this Double Winnings offer from Ladbrokes! Place a single bet on the 15:00 at Sandown 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 guaranteed profit of £4.58 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 15:00 (race off) on Saturday 3rd February 2018, to be eligible.
To qualify, we must place a single bet on the 15:00 at Sandown. If our selection wins the race, Ladbrokes will double our winnings in free bets, up to a maximum of £50.00. 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 Topofthegame.
In order to work out our back stake, we need to divide £50.00 by 5.00 (back odds minus 1.00). This gives us a back stake of £10.00, which is perfect as it’s best that we stick to round numbers when placing our qualifying bet.
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 Topofthegame wins, we’ll receive £60.00 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 £97.50. We then just need to divide £97.50 by our stake of £10.00, which gives us effective back odds of 9.75.
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 9.75 into my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £15.35…
Place £10.00 on Topofthegame @ 6.00 = Potential profit of £50.00
Lay £15.35 on Topofthegame @ 6.40 = Potential liability of £82.89
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Topofthegame wins | + £50.00 – £82.89 + £37.50 (extract 75% from our £50.00 free bet) = £4.61 profit |
| Topofthegame doesn’t win | – £10.00 + £14.58 = £4.58 profit |
So, regardless of the outcome, we’ll make a guaranteed profit of £4.58 on this Ladbrokes Double Winnings offer!
If you’re unsure how to extract 75% cash from a £50.00 free bet, 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! *
* Topofthegame won the race, resulting in a profit of £4.61 on this Ladbrokes offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.