It’s Day 1 of Goodwood Festival 2021 on Tuesday and you don’t want to miss this Paddy Power risk-free bet offer! Place a bet of up to £10.00 on the 14:25 Goodwood and if it loses, Paddy Power will refund our stake as a free bet. Translated into matched betting terms, this gives us a guaranteed profit of £5.66 and here’s how…
Key terms
- Money back as a free bet if our horse loses in the 14:25 Goodwood.
- Applies to bets placed between 17:00 on Sunday 25th July 2021 and 14:25 (race-off) on Tuesday 27th July 2021.
- Offer applies to the win market and the win part of each way bets only.
- Applies to bets of up to £10.00.
Qualifying bet
Losing stakes are refunded as a free bet, so we can treat this as a risk-free bet offer.
We’ll need to select a horse with long odds in order to maximise our profit.
At the time of writing, Angel Bleu is available at back odds of 9.00 (8/1) and lay odds of 10.50.
Smarkets works best for this offer
For this offer, Smarkets are the best option due to Sky Bet being part of the same group as Betfair.
Laying your bet at Betfair would probably be fine, but if you don’t want to risk it, Smarkets is your safest bet.
- 0% commission for 60 days
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my Matched Betting Calculator. We can enter £8.00 as our ‘Cashback’ figure as that’s the cash amount we can expect to convert our £10.00 free bet into if our horse loses…
As you can see, the calculator tells us that our lay stake should be £7.82…
Place £10.00 on Angel Bleu @ 9.00 = Potential profit of £80.00
Lay £7.82 on Angel Bleu @ 10.50 = Potential liability of £74.29
Outcomes
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Paddy Power | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Angel Bleu wins | + £80.00 | – £74.29 | £5.71 profit | |
| Another horse wins | – £10.00 | + £7.66 | + £8.00 | £5.66 profit |
So, no matter the outcome, we’ll make a guaranteed profit of £5.66 on this Paddy Power offer!
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 convert your £10.00 free bet into £8.00 cash (80%), please see my free bets guide for a walkthrough of how it should be done.
* Angel Bleu won the race, resulting in a profit of £5.71 on this Paddy Power offer. *
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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.