There’s a big day of racing at Ascot on Saturday and you don’t want to miss this Ladbrokes offer! If Galileo Gold wins the Queen Elizabeth II Stakes (3.10), Ladbrokes will refund all losing mobile bets as a free bet up to £25.00. Translated into matched betting terms, this gives us a risk-free potential profit of £11.13 and here’s how…
Qualifying Bet:
This offer is only available to new and existing MOBILE and TABLET customers.
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.
Qualifying bets must be placed between 08:00 on Friday 14th October 2016 and 15:10 on Saturday 15th October 2016, to be eligible.
We need to place our qualifying bet on any horse other than Galileo Gold.
At the time of writing, the odds are pretty poor, so I’ll use fictional odds in the following example and I’ll update 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 stakes using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £24.12…
Place £25.00 on Minding @ 2.875 = Potential profit of £46.88
Lay £24.12 on Minding @ 3.00 = Potential liability of £48.24
Let’s have a look at our potential profit/loss for the possible outcomes…
| Minding wins | + £46.88 – £48.24 = £1.36 loss |
| Galileo Gold wins | – £25.00 + £23.64 + £20.00 (extract 80% from £25.00 free bet) = £18.64 profit |
| Another horse wins | – £25.00 + £23.64 = £1.36 loss |
So, as things stand, if Galileo Gold wins, we will make a nice profit of £18.64. Any other outcome and we’ll lose £1.36.
By placing an extra lay bet on Galileo Gold, we can actually make this offer risk-free. In order to work out our lay stake, we just need to divide our potential loss of £1.36 by 0.98 (to account for the 2% commission) which gives us £1.39…
Lay £1.39 on Galileo Gold @ 6.40 = Potential liability of £7.51
Let’s have a look at our overall profit/loss for the possible outcomes…
| Minding wins | – £1.36 + £1.36 = £0.00 |
| Galileo Gold wins | + £18.64 – £7.51 = £11.13 profit |
| Another horse wins | – £1.36 + £1.36 = £0.00 |
So, if Galileo Gold doesn’t win, we’ll break even and there’s no harm done. If, however, Galileo Gold does win, we’ll make a risk-free profit of £11.13 on this Ladbrokes offer!
If our selection loses, mobile and tablet customers will receive their free bets within 24 hours of the race finishing and will be valid for 7 days.
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.
* I actually placed my qualifying bet on Ribchester at back odds of 3.75 and lay odds of 3.90. I placed my extra lay bet on Galileo Gold at odds of 7.60. The race was won by Minding, meaning I broke even on this Ladbrokes offer. *
More reload offers – Make £300+ per month
With detailed walkthroughs for all the best offers as they’re released, you’ll be bagging recurring profits in no time.
More reload offers
Got a question?
Leave me a comment below…
I usually respond within 24 hours.
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.