It’s the Summer Mile at Ascot on Saturday and you don’t want to miss this Genting Bet offer! Simply place a single bet of £10.00+ on the 15:15 at Ascot and get a £10.00 free bet if our selection loses and Mohaather wins the race. Translated into matched betting terms, this gives us a potential profit of £6.56 and here’s how…
Key Terms:
- We must place a single bet of £10.00+ or £10.00 each way on the Summer Mile.
- Our bet must be placed before 15:15 (race-off) on Saturday 11th July 2020.
- If our first bet loses and Mohaather wins, we’ll get a £10.00 free bet.
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
For our qualifying bet, we need to back and lay any horse other than Mohaather.
Having looked at the odds available, we could place our qualifying bet on Skardu.
At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.
Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.
If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.
For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £8.74…
Place £10.00 on Skardu @ 7.50 = Potential profit of £65.00
Lay £8.74 on Skardu @ 8.60 = Potential liability of £66.42
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Skardu wins | +£65.00 | -£66.42 | £1.42 loss | |
| Mohaather wins | -£10.00 | +£8.56 | +£8.00 | £6.56 profit |
| Another horse wins | -£10.00 | +£8.56 | £1.44 loss |
So, if Mohaather wins, we’ll make a nice profit of £6.56! Any other outcome and we’ll lose a maximum of £1.44. Risking £1.44 to make a profit of £6.56, gives us effective odds of 5.56. So, given that Mohaather is odds of just 3.00 (2/1) to win the race, this is a profitable offer in the long run.
If eligible, free bets will be credited within 4 hours of the race settling and will be valid for 3 days. Free bet stakes are not returned with any winnings.
If you’re unsure how to extract 80% cash from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Mohaather won the race, resulting in a profit of £6.56 on this Genting Bet 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.