There’s a big day of horse racing at Sandown today and you don’t want to miss this Ladbrokes offer! Simply bet £20.00+ on the 13:50 at Sandown and if our selection is beaten, Ladbrokes will give us a £10.00 free bet. Translated into matched betting terms, this gives us a guaranteed profit of £5.00+ and here’s how…
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
If our selection is beaten, Ladbrokes will give us a £10.00 free bet, so we can do this as a risk-free offer.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds on Alpha Delphini in the following example and I’ll update the bottom of the post with my actual selection after the race.
I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges.
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 £17.79…
Place £20.00 on Alpha Delphini @ 7.50 = Potential profit of £130.00
Lay £17.79 on Alpha Delphini @ 8.00 = Potential liability of £124.53
Let’s have a look at our potential profit/loss for the possible outcomes…
| Alpha Delphini wins | + £130.00 – £124.53 = £5.47 profit |
| Alpha Delphini doesn’t win | – £20.00 + £17.43 + £8.00 (extract 80% from our £10.00 free bet) = £5.43 profit |
So, regardless of the result of the race and provided we get some decent odds, we’ll make a guaranteed profit of £5.00+ on this Ladbrokes offer!
If our selection is beaten, our free bet will be valid on horse racing until 23:59 on Sunday 9th July 2017.
If you’re unsure how to extract 80% of our £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* I actually placed my qualifying bet on Muthmir at back odds of 7.00 and lay odds of 7.40. Muthmir did not win the race, meaning I made a profit of £5.53 on this Ladbrokes 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.