There’s a big day of racing at Cork on Sunday and you don’t want to miss this Paddy Power money back offer! Simply place a bet of up to £10.00 on the 14:46 at Cork 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 Saturday 31st October 2020 and 14:46 (race-off) on Sunday 1st November 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 Home By The Lee (7/2) 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 |
|---|---|---|---|---|
| Home By The Lee wins | +£35.00 | -£35.80 | £0.80 loss | |
| Home By The Lee finishes 2nd 3rd or 4th | -£10.00 | +£9.20 | +£8.00 | £7.20 profit |
| Home By The Lee finishes outside top 4 | -£10.00 | +£9.20 | £0.80 loss |
So, we’ll make a nice profit of £7.20 if Home By The Lee 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.
* Foxy Jacks was available at back odds of 5.50 and lay odds of 6.20. Foxy Jacks finished 3rd, resulting in a profit of £6.72 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.