£7.30
Potential Profit
£-0.56
Actual Profit

Goodwood Festival 2020 Offer (Day 5) – Genting Bet


Posted by Matt (administrator) Matt
Start Time: 01/08/2020 15:35

It’s the Stewards’ Cup at Goodwood Festival 2020 on Saturday and you don’t want to miss this Genting Bet offer! Simply place a single bet of £10.00+ on the 15:35 at Goodwood and get a £10.00 free bet if our selection loses and Nahaar wins the race. Translated into matched betting terms, this gives us a potential profit of £7.30 and here’s how…

Key Terms:

  • We must place a single bet of £10.00+ or £10.00 each way on the Stewards’ Cup.
  • Our bet must be placed before 15:35 (race-off) on Saturday 1st August 2020.
  • If our first bet loses and Nahaar 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 Nahaar.

At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Meraas in the following example and I’ll update the bottom of the post with an actual selection after the race.

At the time of writing, laying our bet at Betfair is likely to give 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 £9.49…

Genting Bet logo

Place £10.00 on Meraas @ 7.00 = Potential profit of £60.00

Betfair logo

Lay £9.49 on Meraas @ 7.40 = Potential liability of £60.73

Outcomes:

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

OutcomeBookieExchangeExtractedProfit/Loss
Meraas wins+£60.00-£60.73£0.73 loss
Nahaar wins-£10.00+£9.30+£8.00£7.30 profit
Another horse wins-£10.00+£9.30£0.70 loss

So, if Nahaar wins, we’ll make a nice profit of £7.30! Any other outcome and we’ll lose a maximum of £0.73. Risking £0.73 to make a profit of £7.30, gives us effective odds of 11.00. So, given that Nahaar is odds of just 5.50 (9/2) 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.

* Atalanta’s Boy was available at back odds of 13.00 and lay odds of 13.50. Summerghand won the race, resulting in a loss of £0.56 on this Genting Bet offer. *

Post a comment


Your email address will not be published. Required fields are marked *