Event Start Time (GMT): 17/06/2017 : 13:50
There’s a big day of horse racing at York on Saturday and you don’t want to miss this Ladbrokes offer! Bet £20.00 on the 13:50 at York and Ladbrokes will give us a £10.00 free bet to be used on the 14:05 at Musselburgh. Translated into matched betting terms, this gives us a guaranteed profit of £6.43 and here’s how…
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
Qualifying bets must be placed after 18:00 on Friday 16th June 2017, to be eligible.
To qualify for a £10.00 free bet on the 14:05 at Musselburgh, we must place a bet of £20.00 on the 13:50 at York.
It’s entirely up to you which horse you place your qualifying bet on. At the time of writing, the lay odds are poor, so I’ll use fictional odds for Charismatic Man 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 calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £18.81…
Place £20.00 on Charismatic Man @ 6.00 = Potential profit of £100.00
Lay £18.81 on Charismatic Man @ 6.40 = Potential loss of £101.57
Let’s have a look at our potential profit/loss for the possible outcomes…
|Charismatic Man wins||+ £100.00 – £101.57 = £1.57 loss|
|Charismatic Man doesn't win||- £20.00 + £18.43 (£18.81 minus 2% commission) = £1.57 loss|
So, we’ll make a loss of £1.57 in qualifying for our £10.00 free bet.
Our £10.00 free in play bet will be credited upon placement of our qualifying bet and must be used on the 14:05 at Musselburgh.
By using straightforward matched betting, we should be able to extract at least 80% of the £10.00 free bet as cash, so around £8.00. If we take into consideration our qualifying loss of £1.57, we should make a guaranteed profit of £6.43 on this Ladbrokes offer!
* I actually placed my qualifying bet on Mukhayyam at back odds of 6.00 and lay odds of 6.60, meaning I made a profit of £5.87 on this Ladbrokes offer. *