King George VI Chase 2019 Offer – Betway

It’s the King George VI Chase 2019 on Boxing Day and you don’t want to miss this Betway Money Back Special! Simply place a bet on the 15:05 at Kempton and if it loses, Betway 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 £5.52 and here’s how…

Key Terms:

  • Qualifying bets must be placed on the King George VI Chase 2019.
  • Qualifying bets must be placed between Saturday 21st December 2019 and 15:05 (race-off) on Thursday 26th December 2019.
  • If our bet loses, Betway 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.

At the time of writing, the lay odds aren’t yet available, so I’ll use fictional lay odds for Footpad 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 with Betfair is likely to give us the smallest qualifying loss.

Betfair are currently running a great sign up offer where you pay 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 already have a Betfair account, you can opt to pay just 2% commission by selecting the Basic package.

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…

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 £7.68…

Betway logo

Place £10.00 on Footpad @ 10.00 = Potential profit of £90.00

Betfair logo

Lay £7.68 on Footpad @ 12.00 = Potential liability of £84.48

Outcomes:

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

Outcome Bookie Exchange Extracted Profit/Loss
Footpad wins +£90.00 -£84.48 £5.52 profit
Footpad doesn’t win -£10.00 +£7.52 +£8.00 £5.52 profit

So, regardless of the outcome, we’ll make a guaranteed profit of £5.52 on this Betway offer!

If eligible, our free bet will be credited within 24 hours of our qualifying bet being settled and will be valid for 24 hours. 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.

* Footpad was available at back odds of 7.50 and lay odds of 8.40. Footpad failed to win the race, resulting in a profit of £5.84 on this Betway offer. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.