£9.82
Potential Profit
£-0.18
Actual Profit

Goodwood Festival 2020 Offer (Day 1) – Sky Bet


Posted by Matt (administrator) Matt
Start Time: 28/07/2020 13:45

It’s Day 1 of Goodwood Festival 2020 on Tuesday and it’s time for another Sky Bet money back offer! If our horse finishes 2nd, 3rd or 4th in the 13:45 at Goodwood, Sky Bet will refund our stake as cash, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £9.82 and here’s how…

Key Terms:

  • This offer applies to our first bet on the 13:45 at Goodwood.
  • Qualifying bets must be placed between 11:00 on Sunday 26th July 2020 and 13:45 (race-off) on Tuesday 28th July 2020.
  • If fewer than five runners come under starters orders, Sky Bet may withdraw the offer.
  • If our horse finishes 2nd, 3rd or 4th, Sky Bet will refund our stake as cash, 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.

Having looked at the odds available, we could place our qualifying bet on Cape Cavalli.

At the time of writing, laying our bet with 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 £10.03…

Sky Bet logo

Place £10.00 on Cape Cavalli @ 7.00 = Potential profit of £60.00

Betfair logo

Lay £10.03 on Cape Cavalli @ 7.00 = Potential liability of £60.18

Outcomes:

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

OutcomeBookieExchangeCashbackProfit/Loss
Cape Cavalli wins+£60.00-£60.18£0.18 loss
Cape Cavalli finishes 2nd 3rd or 4th-£10.00+£9.82+£10.00£9.82 profit
Cape Cavalli finishes outside top 4-£10.00+£9.82£0.18 loss

So, we’ll make a nice profit of £9.82 if Cape Cavalli finishes 2nd, 3rd or 4th and we stand to lose £0.18 on any other outcome. Risking £0.18 to make a profit of £9.82 gives us effective odds of 55.56, which I’m sure you’ll agree, makes this a profitable offer in the long run.

If eligible, cash refunds will be credited within 24 hours of the race finishing.

* Cape Cavalli finished outside the top 4, resulting in a loss of £0.18 on this Sky Bet offer. *

Comments


  1. Sully

    Guest user

    Christ the amount of times I do this offer and pick the bloody winner!! :(. WILL NOT LAY IN FUTURE!

    +0
    Reply
    1. Matt

      304

      Frustrating Sully isn’t it. Stick at it mate…

      +0
      Reply

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