£7.21
Potential Profit
£7.21
Actual Profit

Money Back Special (16:05 Doncaster) – RaceBets


Posted by Matt (administrator) Matt
Start Time: 27/10/2018 16:05

There’s a big day of racing at Doncaster on Saturday and you don’t want to miss this Money Back Special from RaceBets! Simply place a bet of up to £10.00 on the 16:05 at Doncaster and if Magna Grecia wins, RaceBets 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 £7.21 and here’s how…

Key Terms:

  • This offer applies to our first single fixed odds bet on the 16:05 at Doncaster.
  • Qualifying bets must be placed on Saturday 27th October 2018 (day of the race).
  • This offer is subject to a minimum of 5 runners starting the race.
  • If our horse loses and Magna Grecia wins the race, RaceBets 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 Magna Grecia. Having looked at the odds available, we could place our qualifying bet on Phoenix Of Spain.

At the time of writing, laying our bet with 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 £9.40…

RaceBets logo

Place £10.00 on Phoenix Of Spain @ 6.00 = Potential profit of £50.00

Smarkets logo

Lay £9.40 on Phoenix Of Spain @ 6.40 = Potential liability of £50.76

Outcomes:

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

Phoenix Of Spain wins+ £50.00 – £50.76 = £0.76 loss
Magna Grecia wins- £10.00 + £9.21 + £8.00 (extract 80% from our £10.00 free bet) = £7.21 profit
Another horse wins- £10.00 + £9.21 = £0.79 loss

So, if Magna Grecia wins, we’ll make a nice profit of £7.21. Any other outcome and we’ll lose a maximum of £0.79. Risking £0.79 to make a profit of £7.21, gives us effective odds of 10.13. So, given that Magna Grecia is odds of just 2.50 (6/4) to win the race, this is a profitable offer in the long run.

If eligible, free bets will be credited within 24 hours of the race ending and will be valid for 24 hours.

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.

* Magna Grecia won the race, resulting in a profit of £7.21 on this RaceBets offer. *

Comments


  1. Sid

    Guest user

    This site should not be promoting RaceBets. There is plenty of evidence/information out there to show they are a scam bookie.

    +0
    Reply
    1. Matt

      236

      Thanks for the message Sid, I’ve now removed them from the Free Bets page. It seems they’ve received a large number of negative reviews.

      +0
      Reply

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