There’s a big day of racing at Ascot on Friday and you don’t want to miss this Money Back Special from Paddy Power! Simply place a bet of up to £10.00 on the 14:05 at Ascot and if Bangkok wins, Paddy Power will refund all losing bets 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 Tuesday 4th September 2018 and 14:05 (race-off) on Friday 7th September 2018.
- Offer applies to single bets or the win part of each way bets.
- If our horse loses and Bangkok wins the race, 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.
For our qualifying bet, we need to back and lay any horse other than Bangkok. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Prince Eiji (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…
| Prince Eiji wins | + £35.00 – £35.80 = £0.80 loss |
| Bangkok wins | – £10.00 + £9.20 + £8.00 (extract 80% from our £10.00 free bet) = £7.20 profit |
| Another horse wins | – £10.00 + £9.20 = £0.80 loss |
So, if Bangkok wins, we’ll make a nice profit of £7.20. Any other outcome and we’ll lose £0.80. Risking £0.80 to make a profit of £7.20, gives us effective odds of 10.00. So, given that Bangkok is odds of 1.727 (8/11) to win the race, this is 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 horse racing for 7 days.
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.
* Prince Eiji was available at back odds of 5.00 and lay odds of 5.50. Prince Eiji won the race, resulting in a loss of £1.07 on this Paddy Power offer. *
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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.