The Breeders’ Cup 2018 continues 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 20:56 at Churchill Downs and if Enable 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 £7.10 and here’s how…
Key Terms:
- We must place our bet between 15:00 on Tuesday 30th October 2018 and 20:56 (race-off) on Saturday 3rd November 2018.
- Offer applies to single bets or the win part of each way bets.
- If our horse loses and Enable 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 Enable. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Magical (11/2) 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.
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
Magical wins | + £55.00 – £55.90 = £0.90 loss |
Enable wins | – £10.00 + £9.10 + £8.00 (extract 80% from our £10.00 free bet) = £7.10 profit |
Another horse wins | – £10.00 + £9.10 = £0.90 loss |
So, if Enable wins, we’ll make a nice profit of £7.10. Any other outcome and we’ll lose £0.90. Risking £0.90 to make a profit of £7.10, gives us effective odds of 8.89. So, given that Enable is odds of just 1.615 (8/13) 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.
* Waldgeist was available at back odds of 7.00 and lay odds of 8.20. Enable won the race, resulting in a profit of £6.38 on this Paddy Power offer. *
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Matt Kirman – Matched 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.