There’s a big day of racing at Newbury today and you don’t want to miss this Money Back Special from Coral! If our horse loses in the 13:50 at Newbury, Coral will refund our stake as a free bet, up to a maximum of £25.00. Translated into matched betting terms, this gives us a guaranteed profit of £13.39 and here’s how…
The Strategy:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed between 08:00 and 13:50 (race off) on Saturday 10th February 2018, to be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds. Having looked at the odds available, we could place our qualifying bet on King Uther.
I like to place my exchange lay bets with Betfair as they have great liquidity in the run up to races and the site is really easy to use.
Qualifying Bet:
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £18.75 as our ‘Cashback’ figure as this is the amount we can expect to extract (75%) from our £25.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £20.68…
Place £25.00 on King Uther @ 6.50 = Potential profit of £137.50
Lay £20.68 on King Uther @ 7.00 = Potential liability of £124.08
Let’s have a look at our potential profit/loss for the possible outcomes…
| King Uther wins | + £137.50 – £124.08 = £13.42 profit |
| King Uther doesn’t win | – £25.00 + £19.64 + £18.75 (extract 75% from our £25.00 free bet) = £13.39 profit |
So, regardless of the result of the race, we’ll make a guaranteed profit of £13.39 on this Coral offer!
If our selection loses, our free bet will be credited by 12:00 on Sunday 11th February 2018 and will be valid on horse racing for 24 hours.
If you’re unsure how to extract 75% cash from a £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* The race was won by Talkischeap, resulting in a profit of £13.39 on this Sky Bet Money Back Special. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.