Money Back Special (15:00 Doncaster) – Genting Bet

It’s Day 1 of the St Leger Festival 2018 on Wednesday and you don’t want to miss this Money Back Special from Genting Bet! Simply place a single bet of £10.00+ on the 15:00 at Doncaster and if the SP Favourite wins, Genting Bet will refund our first losing bet as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.10 and here’s how…

Key Terms:

  • We must place a single bet of £10.00+ or £10.00 each way, to be eligible.
  • Our bet must be placed before 15:00 (race-off) on Wednesday 12th September 2018.
  • If our first bet loses and the SP Favourite wins, our stake will be refunded 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 a horse that is unlikely to start the race as favourite. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Final Venture (4/1) in the following example and I’ll update the bottom of the post with an actual selection after the race.

At the time of writing, laying our bet at Smarkets is likely to give us the smallest qualifying loss.

We can calculate our lay stake using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £
Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £9.29…

Genting Bet logo

Place £10.00 on Final Venture @ 5.00 = Potential profit of £40.00

Smarkets logo

Lay £9.29 on Final Venture @ 5.40 = Potential liability of £40.87

Outcomes:

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

Final Venture wins + £40.00 – £40.87 = £0.87 loss
SP Favourite wins -£10.00 + £9.10 + £8.00 (extract 80% from £10.00 free bet) = £7.10 profit
Another horse wins -£10.00 + £9.10 = £0.90 loss

So, if the starting price (SP) favourite wins, we’ll make a nice profit of £7.10! Any other outcome and we’ll lose a maximum of £0.90. Risking £0.90 to make a profit of £7.10, gives us effective odds of 8.89. So, given that Global Applause (SP Favourite at the time of writing) 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 24 hours of our qualifying bet being settled and will be valid for 2 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.

* Encore d’Or was available at back odds of 11.00 and lay odds of 11.50. Global Applause won the race, resulting in a profit of £7.38 on this Genting Bet offer. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.