It’s the Melbourne Cup 2019 in the early hours of Tuesday and you don’t want to miss this Betway Money Back Special! Simply place a bet on the 04:00 at Flemington and if it loses, Betway will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £5.75 and here’s how…
Key Terms:
- Qualifying bets must be placed on the Melbourne Cup on Tuesday 5th November 2019.
- Qualifying bets must be placed between Monday 28th October 2019 and 04:00 (race-off) on Tuesday 5th November 2019.
- If our bet loses, Betway will refund our stake as a free bet, up to a maximum of £10.00.
Qualifying Bet:
Losing stakes are refunded as a free bet, so this is effectively a risk-free bet offer.
We’ll need to select a horse with long odds in order to maximise our profit.
Having looked at the odds available, we could place our qualifying bet on Il Paradiso.
At the time of writing, laying our bet with Betfair give us the biggest guaranteed profit.
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £10.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £8.16…
Place £10.00 on Il Paradiso @ 13.00 = Potential profit of £120.00
Lay £8.16 on Il Paradiso @ 15.00 = Potential liability of £114.24
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Il Paradiso wins | +£120.00 | -£114.24 | £5.76 profit | |
| Il Paradiso doesn’t win | -£10.00 | +£7.75 | +£8.00 | £5.75 profit |
So, regardless of the outcome, we’ll make a guaranteed profit of £5.75 on this Betway offer!
If eligible, our free bet will be credited within 24 hours of our qualifying bet being settled and will be valid for 24 hours. Free bet stakes are not included in any returns.
If you’re unsure how to extract £8.00 cash (80%) from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Il Paradiso failed to win the race, resulting in a profit of £5.75 on this Betway 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.