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

There’s a big day of racing at Newbury on Saturday and you don’t want to miss this Genting Bet offer! Simply place a single bet of £10.00+ on the 15:00 at Newbury and get a £10.00 free bet if our selection loses and Ok Corral wins the race. Translated into matched betting terms, this gives us a potential profit of £7.42 and here’s how…

Key Terms:

  • We must place a single bet of £10.00+ or £10.00 each way on the Newbury Trophy Chase.
  • Our bet must be placed between 12:00 on Thursday 28th November 2019 and 15:00 (race-off) on Saturday 30th November 2019.
  • If our first bet loses and Ok Corral 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 Ok Corral.

Having looked at the odds available, we could place our qualifying bet on West Approach.

At the time of writing, laying our bet at Smarkets gives 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 £9.62…

Genting Bet logo

Place £10.00 on West Approach @ 12.00 = Potential profit of £110.00

Smarkets logo

Lay £9.62 on West Approach @ 12.50 = Potential liability of £110.63

Outcomes:

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

Outcome Bookie Exchange Extracted Profit/Loss
West Approach wins +£110.00 -£110.63 £0.63 loss
Ok Corral wins -£10.00 +£9.42 +£8.00 £7.42 profit
Another horse wins -£10.00 +£9.42 £0.58 loss

So, if Ok Corral wins, we’ll make a nice profit of £7.42! Any other outcome and we’ll lose a maximum of £0.63. Risking £0.63 to make a profit of £7.42, gives us effective odds of 12.78. So, given that Ok Corral is odds of just 8.00 (7/1) 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 7 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.

* De Rasher Counter won the race, resulting in a loss of £0.58 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.