There’s a big day of racing at Ascot 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 15:55 at Ascot and if Waiting Patiently 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 £7.35 and here’s how…
Key Terms:
- We must place our bet between 10:00 on Friday 15th February 2019 and 15:55 (race-off) on Saturday 16th February 2019.
- Offer applies to single bets or the win part of each way bets.
- If less than 5 runners take part, this offer will not apply.
- If our horse loses and Waiting Patiently 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 Waiting Patiently. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Politologue (3/1) 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.
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
Outcome | Bookie | Exchange | Extracted | Profit/Loss |
---|---|---|---|---|
Politologue wins | +£30.00 | -£30.65 | £0.65 loss | |
Waiting Patiently wins | -£10.00 | +£9.35 | +£8.00 | £7.35 profit |
Another horse wins | -£10.00 | +£9.35 | £0.65 loss |
So, if Waiting Patiently wins, we’ll make a nice profit of £7.35. Any other outcome and we’ll lose £0.65. Risking £0.65 to make a profit of £7.35, gives us effective odds of 12.31. So, given that Waiting Patiently is odds of just 2.625 (13/8) 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 any market for 7 days.
If you’re unsure how to extract £8.00 cash (80%) from the £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Fox Norton was available at back odds of 6.00 and lay odds of 6.40. Cyrname won the race, resulting in a loss of £0.79 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.