There’s a big day of racing at Newcastle today and it’s time for another Sky Bet First Race Special! If our horse finishes 2nd or 3rd in the 12:20 at Newcastle, Sky Bet will refund our stake as a free bet, up to a maximum of £20.00. Translated into matched betting terms, this gives us a potential profit of £15.03 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 14:00 on Friday 29th June 2018 and 12:20 (race-off) on Saturday 30th June 2018, to be eligible.
Qualifying Bet:
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd or 3rd place finish.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Ekhtiyaar in the following example and I’ll update the bottom of the post with an actual selection after the race.
Laying our bet with Smarkets is likely to give us the smallest qualifying loss.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £19.42…
Place £20.00 on Ekhtiyaar @ 6.00 = Potential profit of £100.00
Lay £19.42 on Ekhtiyaar @ 6.20 = Potential liability of £100.98
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
Ekhtiyaar wins | + £100.00 – £100.98 = £0.98 loss |
Ekhtiyaar finishes 2nd or 3rd | – £20.00 + £19.03 + £16.00 (extract 80% from our £20.00 free bet) = £15.03 profit |
Ekhtiyaar finishes outside top 3 | – £20.00 + £19.03 = £0.97 loss |
So, we’ll make a nice profit of £15.03 if Ekhtiyaar places 2nd or 3rd and we stand to lose a maximum of £0.98 on any other outcome. Risking £0.98 to make a profit of £15.03 gives us effective odds of 16.34, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If you’re unsure how to extract 80% of a £20.00 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! *
* Ekhtiyaar was available at back odds of 6.00 and lay odds of 6.40. Ekhtiyaar finished 3rd, resulting in a profit of £14.43 on this Sky Bet 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.