Why bother looking for horse racing tips today, when you can do a bit of matched betting and make low-risk profits? Ladbrokes are back with another Money Back Special on todays horse racing. If Hurricane Fly wins the Ladbrokes World Series Hurdle (5.30 at Punchestown race course), Ladbrokes will refund all losing outright bets on that race as a free bet up to £25.00. Translated into matched betting terms, this gives us a potential risk-free profit of £9.17 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 walkthrough guide on how it should be done.
For this particular offer, we need to select any horse other than Hurricane Fly. This ensures that if Hurricane Fly wins, we will automatically be eligible for the free bet refund as our qualifying bet will have lost. Having looked at the odds on offer, I’ve opted to place my qualifying bet on Dedigout.
Place £25.00 on Dedigout @ 7.00 = Potential profit of £150.00
Lay £23.18 on Dedigout @ 7.60 = Potential liability of £152.98
Let’s have a look at our potential profit/loss for the possible outcomes…
| Dedigout wins | +£150.00 – £152.98 = £2.98 loss |
| Hurrican Fly wins | -£25.00 + £22.02 + £20.00 (extract 80% from our £25.00 free bet) = £17.02 profit |
| Neither wins | -£25.00 + £22.02 = £2.98 loss |
So as things stand we will make £17.02 profit if Hurricane Fly wins. Unfortunately, we also stand to lose £2.98 on any other outcome and so we need to insure ourselves against this by laying Hurricane Fly at the betting exchange. In order to calculate our lay stake, we need to divide £2.98 by 0.95 to account for the 5% commission. This gives us a lay stake of £3.14.
Lay £3.14 on Hurricane Fly @ 3.50 = Potential liability of £7.85
Let’s have a look at our overall profit/loss for the possible outcomes…
| Dedigout wins | -£2.98 + £2.98 = £0.00 |
| Hurricane Fly wins | +£17.02 – £7.85 = £9.17 profit |
| Neither wins | -£2.98 + £2.98 = £0.00 |
So if Hurricane Fly doesn’t win, we will break even and there’s no harm done. However, if Hurricane Fly justifies his favourite tag by winning the 5.30 at Punchestown, we will make a nice profit of £9.17!
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
* Dedigout was declared a non-runner and so I switched to Jezki. Jezki won, meaning I broke even. *
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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.