The Goodwood Festival 2018 gets underway on Tuesday and it’s time for another Sky Bet First Race Special! If our horse loses in the 13:50 at Goodwood, 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 guaranteed profit of £12.88 and here’s how…
Qualifying Bet:
Losing stakes are refunded as a free bet, so this is effectively a risk-free bet offer.
Qualifying bets must be placed between 14:00 on Friday 27th July 2018 and 13:50 on Tuesday 31st July 2018, to be eligible.
We need to select a horse with long odds in order to maximise our profit. Having looked at the odds available, we could place our qualifying bet on Medrano.
At the time of writing, laying our bet with Smarkets gives us the biggest guaranteed profit.
We can work out our lay stake using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £16.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £20.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £17.23…
Place £20.00 on Medrano @ 15.00 = Potential profit of £280.00
Lay £17.23 on Medrano @ 16.50 = Potential liability of £267.06
Let’s have a look at our potential profit/loss for the possible outcomes…
| Medrano wins | + £280.00 – £267.06 = £12.94 profit |
| Medrano doesn’t win | – £20.00 + £16.88 + £16.00 (extract 80% from our £20.00 free bet) = £12.88 profit |
So, regardless of the result of the race, we’ll make a guaranteed profit of £12.88 on this Sky Bet offer!
If our selection loses, our free bet will be credited within 24 hours of the race ending and will be valid for 3 days.
If you’re unsure how to extract 80% cash from a £20.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Medrano failed to win the race, resulting in a profit of £12.88 on this Sky Bet offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.