Goodwood Festival 2021 (Day 2) Offer – Betway

It’s Day 2 of Goodwood Festival 2021 on Wednesday and you don’t want to miss this Betway money back offer! If our horse finishes 2nd, 3rd or 4th in the 13:50 Goodwood, Betway will refund our stake as a free bet up to £10.00. Translated into matched betting terms, this gives us a potential profit of £7.07 and here’s how…

Key terms

  • Applies to our first bet on the 13:50 Goodwood.
  • Applies to bets placed before 13:50 (race-off) on Wednesday 28th July 2021.
  • Minimum odds of 1.50 (1/2).
  • If our horse finishes 2nd, 3rd or 4th, Betway will refund our stake as a free bet up to £10.00.
  • If fewer than eight runners come under starters orders, the promotion will revert to money back as a free bet for 2nd place only.

Qualifying bet

If you’d like more information about qualifying bets and how they work, please see my qualifying bets guide.

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, Nagano is available at back odds of 4.333 (10/3) and lay odds of 4.70.

Either exchange works for this offer

We can calculate our lay stake using my Matched Betting Calculator

Select bet type

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 £9.26…

Betway logo

Place £10.00 on Nagano @ 4.333 = Potential profit of £33.33

Betfair logo

Lay £9.26 on Nagano @ 4.70 = Potential liability of £34.26

Outcomes

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

OutcomeBetwayBetfairFree BetProfit/Loss
Nagano wins+ £33.33– £34.26£0.93 loss
Nagano finishes 2nd, 3rd or 4th– £10.00+ £9.07+ £8.00£7.07 profit
Any other outcome– £10.00+ £9.07£0.93 loss

So, we’ll make a nice profit of £7.07 if Nagano finishes 2nd, 3rd or 4th or we’ll lose £0.93 on any other outcome. Risking £0.93 to make a potential profit of £7.07 gives us effective odds of 8.60, which I’m sure you’ll agree, makes this a profitable offer in the long run.

If eligible, free bets will be credited within an hour of the race being settled and will be valid for 7 days. Free bet stakes are not included in any returns.

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.

* Nagano won the race, resulting in a loss of £0.93 on this Betway offer. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £60,000 worth of profit, and made it my mission to make matched betting accessible to everyone.