It’s Day 3 of the Galway Races 2020 on Wednesday and you don’t want to miss this Paddy Power money back offer! Simply place a bet of up to £10.00 on the 17:45 at Galway and if our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.15 and here’s how…
Key Terms:
- We must place our bet between 12:00 on Tuesday 28th July 2020 and 17:45 (race-off) on Wednesday 29th July 2020.
- Offer applies to the win market and the win part of each way bets only.
- If less than 7 runners take part, this offer will revert to money back if 2nd.
- If our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to £10.00.
Qualifying Bet:
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.
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, 3rd or 4th place finish.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Hand In My Pocket (9/4) in the following example and I’ll update the bottom of the post with an actual selection after the race.
We can calculate our lay stakes using my matched betting calculator.
Aim to lose no more than £0.85 on our qualifying bet
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Hand In My Pocket wins | +£22.50 | -£23.35 | £0.85 loss | |
| Hand In My Pocket finishes 2nd 3rd or 4th | -£10.00 | +£9.15 | +£8.00 | £7.15 profit |
| Hand In My Pocket finishes outside top 4 | -£10.00 | +£9.15 | £0.85 loss |
So, we’ll make a nice profit of £7.15 if Hand In My Pocket finishes 2nd, 3rd or 4th and we stand to lose £0.85 on any other outcome. Risking £0.85 to make a profit of £7.15 gives us effective odds of 9.41, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If eligible, free bets will be credited within 2 hours of the race ending and will be valid on any horse racing market for 7 days.
If you’re unsure how to extract £8.00 cash (80%) from the £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Kaatskill Nap was available at back odds of 2.50 and lay odds of 2.98. Kaatskill Nap won the race at starting price (SP) odds of 2.75, resulting in a small profit of £0.77, courtesy of Paddy Power’s Best Odds Guaranteed promotion. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.