It’s the Greatwood Gold Cup at Newbury on Saturday and you don’t want to miss this Virgin Bet Money Back Special! Simply place a bet on the 15:15 at Newbury and if it loses, Virgin Bet will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £6.20 and here’s how…
* Meeting abandoned due to waterlogged ground *
Key Terms:
- Qualifying bets must be placed on the Greatwood Gold Cup.
- Qualifying bets must be placed before 15:15 (race-off) on Saturday 29th February 2020.
- If our bet loses, Virgin Bet will refund our stake as a free bet, up to a maximum of £10.00.
Qualifying Bet:
Losing stakes are refunded as a free bet, so this is effectively a risk-free bet offer.
We’ll need to select a horse with long odds in order to maximise our profit.
Having looked at the odds available, we could place our qualifying bet on Gala Ball.
At the time of writing, laying our bet with Betfair gives us the largest guaranteed profit.
Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.
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 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 this is the amount we can expect to extract (80%) from our £10.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £8.43…
Place £10.00 on Gala Ball @ 13.00 = Potential profit of £120.00
Lay £8.43 on Gala Ball @ 14.50 = Potential liability of £113.80
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Gala Ball wins | +£120.00 | -£113.80 | £6.20 profit | |
| Gala Ball doesn’t win | -£10.00 | +£8.26 | +£8.00 | £6.26 profit |
So, regardless of the outcome, we’ll make a guaranteed profit of £6.20 on this Virgin Bet offer!
If eligible, our free bet will be credited within 3 hours of our qualifying bet being settled and will be valid for 7 days. Free bet stakes are not included in any returns.
If you’re unsure how to extract £8.00 cash (80%) from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.