There’s a big day of racing at Newcastle today and Ladbrokes are getting in on the action! Place a bet of £5.00+ on the 15:10 at Newcastle and if our selection wins by 3+ lengths, Ladbrokes will double our winnings as a free bet, up to a maximum of £100.00. Translated into matched betting terms, this gives us a potential profit of £77.73 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 they should be done.
Qualifying bets must be placed between 08:00 and 15:10 on Tuesday 24th October 2017, to be eligible.
To qualify, we must place a £5.00+ bet on the 15:10 at Newcastle. If our selection wins the race by 3+ lengths, Ladbrokes will double our winnings in free bets, up to a maximum of £100.00. If eligible, free bets will be credited within 24 hours of our bet being settled and will be valid for 48 hours. Free bet stakes are not included in any returns.
It’s entirely up to you which horse you go for. Having looked at the odds available, I’ve opted to place my qualifying bet on It Dont Come Easy.
In order to work out our back stake, we need to divide £100.00 by 2.00 (back odds minus 1.00). This gives us a back stake of £50.00, which is perfect as it’s best that we stick to round numbers when placing our qualifying bet.
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 £48.70…
Place £50.00 on It Dont Come Easy @ 3.00 = Potential profit of £100.00
Lay £48.70 on It Dont Come Easy @ 3.10 = Potential liability of £102.27
Let’s have a look at our potential profit/loss for the possible outcomes…
| It Dont Come Easy wins by less than 3 lengths | + £100.00 – £102.27 = £2.27 loss |
| It Dont Come Easy wins by 3+ lengths | + £100.00 – £102.27 + £80.00 (extract 80% from our £100.00 free bet) = £77.73 profit |
| It Dont Come Easy doesn’t win | – £50.00 + £47.72 = £2.28 loss |
So, we’ll make a nice profit of £77.73 if It Dont Come Easy wins the race by 3+ lengths and we stand to lose a maximum of £2.28 on any other outcome. Risking £2.28 to make a profit of £77.73 gives us effective odds of 35.09, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If you’re unsure how to extract 80% cash from a £100.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* See my Horse Racing Offers page for a full list of money back offers available today! *
* A horse called Beatbox Rhythm won the race by 2.25 lengths, meaning I made a loss of £2.28 on this Ladbrokes 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.