The Boodles May Festival continues on Thursday 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 15:35 at Chester and if Idaho 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 an overall potential profit of £6.90 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.
Qualifying bets must be placed between 10:00 on Friday 4th May 2018 and the start of the race, to be eligible.
For our qualifying bet, we need to back and lay any horse other than Idaho. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use Muntahaa (7/2) in the following example and I’ll update the bottom of the post with some actual odds after the race.
We can calculate our lay stakes using my matched betting calculator.
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
Muntahaa wins | + £35.00 – £35.60 = £0.60 loss |
Idaho wins | – £10.00 + £9.40 + £7.50 (extract 75% from our £10.00 free bet) = £6.90 profit |
Another horse wins | – £10.00 + £9.40 = £0.60 loss |
So, if Idaho wins, we’ll make a nice profit of £6.90. Any other outcome and we’ll lose £0.60. Risking £0.60 to make a profit of £6.90, gives us effective odds of 12.50. So, given that Idaho is odds of just 1.909 (10/11) 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 75% 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.
* Duretto was available at back odds of 8.00 and lay odds of 8.20. Idaho won the race, resulting in a profit of £7.08 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.