£7.05
Potential Profit
£-0.95
Actual Profit

Money Back Offer (18:00 Redcar) – Paddy Power


Posted by Matt (administrator) Matt
Start Time: 18/06/2020 18:00

There’s a big day of racing at Redcar today and you don’t want to miss this Paddy Power money back offer! Simply place a bet of up to £10.00 on the 18:00 at Redcar 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 £7.05 and here’s how…

Key Terms:

  • We must place our bet between 10:00 on Wednesday 17th June 2020 and 18:00 (race-off) on Thursday 18th June 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’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.

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.

Having looked at the odds available, we could place our qualifying bet on Upstaging (6/1).

We can calculate our lay stakes using my matched betting calculator.

Paddy Power logo

Aim to lose no more than £0.95 on our qualifying bet

Outcomes:

Let’s have a look at our potential profit/loss for the possible outcomes…

OutcomeBookieExchangeExtractedProfit/Loss
Upstaging wins+£60.00-£60.95£0.95 loss
Upstaging finishes 2nd 3rd or 4th-£10.00+£9.05+£8.00£7.05 profit
Upstaging finishes outside top 4-£10.00+£9.05£0.95 loss

So, we’ll make a nice profit of £7.05 if Upstaging finishes 2nd, 3rd or 4th and we stand to lose £0.95 on any other outcome. Risking £0.95 to make a profit of £7.05 gives us effective odds of 8.42, 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 extract £8.00 cash (80%) from the £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

* Upstaging finished outside the top 4, resulting in a loss of £0.95 on this Paddy Power offer. *

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