£6.82
Potential Profit
£6.82
Actual Profit

Goodwood Festival 2020 Offer (Day 1) – Genting Bet


Posted by Matt (administrator) Matt
Start Time: 28/07/2020 14:45

It’s the Lennox Stakes at Goodwood Festival 2020 on Tuesday and you don’t want to miss this Genting Bet offer! Simply place a single bet of £10.00+ on the 14:45 at Goodwood and get a £10.00 free bet if our selection loses and Space Blues wins the race. Translated into matched betting terms, this gives us a potential profit of £6.82 and here’s how…

Key Terms:

  • We must place a single bet of £10.00+ or £10.00 each way on the Lennox Stakes.
  • Our bet must be placed before 14:45 (race-off) on Tuesday 28th July 2020.
  • If our first bet loses and Space Blues wins, we’ll get a £10.00 free bet.

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.

For our qualifying bet, we need to back and lay any horse other than Space Blues.

Having looked at the odds available, we could place our qualifying bet on Sir Dancealot.

At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.

Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.

Banner showing the zero commission sign up offer from Betfair

Banner showing the zero commission sign up offer from Betfair

If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.

For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.

We can calculate our lay stake using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £

Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £9.00…

Genting Bet logo

Place £10.00 on Sir Dancealot @ 7.00 = Potential profit of £60.00

Betfair logo

Lay £9.00 on Sir Dancealot @ 7.80 = Potential liability of £61.20

Outcomes:

Let’s have a look at our potential profit/loss for the possible outcomes…

OutcomeBookieExchangeExtractedProfit/Loss
Sir Dancealot wins+£60.00-£61.20£1.20 loss
Space Blues wins-£10.00+£8.82+£8.00£6.82 profit
Another horse wins-£10.00+£8.82£1.18 loss

So, if Space Blues wins, we’ll make a nice profit of £6.82! Any other outcome and we’ll lose a maximum of £1.20. Risking £1.20 to make a profit of £6.82, gives us effective odds of 6.68. So, given that Space Blues is odds of just 3.25 (9/4) to win the race, this is a profitable offer in the long run.

If eligible, free bets will be credited within 4 hours of the race settling and will be valid for 3 days. Free bet stakes are not returned with any winnings.

If you’re unsure how to extract 80% cash from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

* Space Blues won the race, resulting in a profit of £6.82 on this Genting Bet offer. *

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