There’s a big day of racing at Cheltenham on Saturday and it’s time for another Sky Bet First Race Special! If our horse loses in the 13:50 at Cheltenham, 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 £12.48 and here’s how…
The Strategy:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed between 14:00 on Friday 26th January 2018 and 13:50 on Saturday 27th January 2018, to be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds. Having looked at the odds available, we could place our qualifying bet on Arctic Gold.
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.
Qualifying Bet:
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £15.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (75%) 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 £18.45…
Place £20.00 on Arctic Gold @ 15.00 = Potential profit of £280.00
Lay £18.45 on Arctic Gold @ 15.50 = Potential liability of £267.52
Let’s have a look at our potential profit/loss for the possible outcomes…
| Arctic Gold wins | + £280.00 – £267.52 = £12.48 profit |
| Arctic Gold doesn’t win | – £20.00 + £17.52 + £15.00 (extract 75% from our £20.00 free bet) = £12.52 profit |
So, regardless of the result of the race, we’ll make a guaranteed profit of £12.48 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 75% 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.
* Arctic Gold failed to win the race, resulting in a profit of £12.52 on this Sky Bet First Race Special. *
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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.