There’s a big day of racing at Ascot on Saturday and you don’t want to miss this Paddy Power money back offer! Simply place a bet of up to £10.00 on the 13:20 at Ascot and if our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.20 and here’s how…
Key Terms:
- We must place our bet between 10:00 on Friday 30th October 2020 and 13:20 (race-off) on Saturday 31st October 2020.
- Offer applies to the win market and the win part of each way bets only.
- If less than 7 runners take part, this offer will revert to money back if 2nd.
- If our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to £10.00.
Qualifying Bet:
If you’d like more information about qualifying bets and how they work, please see my Qualifying Bets Guide.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd, 3rd or 4th place finish.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Dr Sanderson (5/2) in the following example and I’ll update the bottom of the post with an actual selection after the race.
We can calculate our lay stakes using my Matched Betting Calculator.
Aim to lose no more than £0.80 on our qualifying bet
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Dr Sanderson wins | +£25.00 | -£25.80 | £0.80 loss | |
| Dr Sanderson finishes 2nd 3rd or 4th | -£10.00 | +£9.20 | +£8.00 | £7.20 profit |
| Dr Sanderson finishes outside top 4 | -£10.00 | +£9.20 | £0.80 loss |
So, we’ll make a nice profit of £7.20 if Dr Sanderson finishes 2nd, 3rd or 4th and we stand to lose £0.80 on any other outcome. Risking £0.80 to make a profit of £7.20 gives us effective odds of 10.00, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If eligible, free bets will be credited within 2 hours of the race ending and will be valid on any horse racing market for 7 days.
If you’re unsure how to convert your £10.00 free bet into £8.00 cash (80%), please see my Free Bets Guide for a walk-through of how it should be done.
* Dorking Boy was available at back odds of 5.00 and lay odds of 5.70. Dorking Boy finished outside the top 4, resulting in a loss of £1.38 on this Paddy Power offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.