It’s Day 6 of the Galway Festival 2018 on Saturday 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 15:05 at Galway and if Silver Service or Urban Light 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 £7.30 and here’s how…
Qualifying Bets:
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.
This offer applies to single bets or the win part of each way bets. Qualifying bets must be placed between 10:00 on Friday 3rd August 2018 and 15:05 (race-off) on Saturday 4th August 2018, to be eligible.
For our qualifying bet, we need to back and lay any horse other than Silver Service or Urban Light. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Kestrel Prince (9/2) 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 £0.70 on our qualifying bet
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Kestrel Prince wins | + £45.00 – £45.70 = £0.70 loss |
| Silver Service or Urban Light wins | – £10.00 + £9.30 + £8.00 (extract 80% from our £10.00 free bet) = £7.30 profit |
| Another horse wins | – £10.00 + £9.30 = £0.70 loss |
So, if Silver Service or Urban Light wins, we’ll make a nice profit of £7.30. Any other outcome and we’ll lose £0.70. Risking £0.70 to make a profit of £7.30, gives us effective odds of 11.43. So, given that Silver Service and Urban Light are odds of 3.75 (11/4) and 5.00 (4/1) respectively 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.
* An Aingeal Dubh was available at back odds of 6.50 and lay odds of 7.40. Rinty Maginty won the race, resulting in a loss of £1.37 on this Paddy Power offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.