UK horse racing is officially back and you don’t want to miss this Coral money back offer! Simply place a £1.00+ bet on any horse race and if it loses, Coral 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 £6.66 and here’s how…
Key Terms:
- Minimum stake of £1.00.
- Applies to our first win or each way bet placed between 08:00 on Friday 5th June 2020 and 23:59 on Thursday 11th June 2020.
- If our bet loses, Coral 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 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.
Having looked at the odds available on Saturday, we could place our qualifying bet on Blown By Wind in the 16:45 at Newmarket.
At the time of writing, laying our bet at Betfair is likely to give us the biggest 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 £8.84…
Place £10.00 on Blown By Wind @ 7.50 = Potential profit of £65.00
Lay £8.84 on Blown By Wind @ 7.60 = Potential liability of £58.34
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Blown By Wind wins | +£65.00 | -£58.34 | £6.66 profit | |
| Blown By Wind doesn’t win | -£10.00 | +£8.66 | +£8.00 | £6.66 profit |
So, no matter the outcome, we’ll make a guaranteed profit of £6.66 on this Coral offer!
If eligible, our free bet will be credited within 24 hours of our qualifying bet being settled and will be valid on any sports market 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.
* Blown By Wind won the 16:45 at Newmarket, resulting in a profit of £6.66 on this Coral offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.