It’s the Doncaster St Leger Festival and Ladbrokes have us covered with a fantastic free bet offer! Simply back a horse at odds of 4/1 or above and Ladbrokes will give us a free bet equal to our stake up to a maximum of £25.00. Translated into matched betting terms, this gives us a potential profit of £18.31 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.
This offer is running for every race during the St Leger Festival, which ends on Saturday. The offer also covers any Saturday race shown live on Channel 4.
The strategy for these offers is simply to pick horses (odds of 5.00 or above) that have close back and lay odds. It’s entirely up to you which horses you go for. I’ve included an example below of how this offer should be done. I’ve picked Gretchen who is running in the 15:05 at Doncaster on Thursday 10th September 2015.
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 stakes using the matched betting calculator.
Place £25.00 on Gretchen @ 5.50 = Potential profit of £112.50
Lay £23.79 on Gretchen @ 5.80 = Potential liability of £114.19
Let’s have a look at our potential profit/loss for the possible outcomes…
| Gretchen wins | +£112.50 – £114.19 + £20.00 (extract 80% from our £25.00 free bet) = £18.31 profit |
| Gretchen doesn’t win | -£25.00 + £23.31 = £1.69 loss |
So if Gretchen wins, we will make a nice profit of £18.31, otherwise we will lose £1.69. A £1.69 risk to make £18.31 profit gives us effective odds of 11.83, more than double the actual odds of Gretchen winning, making this a profitable offer in the long. With these types of offer, it’s inevitable that some days we will make a loss and on others we will win big. The best time to check odds is close to the start of a race and don’t forget, we are eligible for a free bet on all races during the Doncaster St Leger Festival. I’ll update the bottom of this blog post with my actual profit at the end of the festival.
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Here are the bets I placed for this offer…
| Race | Horse | Back Odds | Lay Odds | Qualifying Loss |
|---|---|---|---|---|
| Thursday 15:05 Doncaster | Hidden Gold | 5.50 | 5.70 | £1.28 |
| Thursday 15:40 Doncaster | Gerrards Quest | 13.00 | 13.00 | £0.46 |
| Friday 14:20 Doncaster | Polarisation | 7.50 | 7.80 | £1.38 |
| Total | £3.12 |
…None of my three picks won their race, meaning I made an overall loss of £3.12 on this 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.