There’s a big day of racing at Leopardstown today and you don’t want to miss this Money Back Special from Coral! If our horse loses in the Coral Hurdle (16:05) at Leopardstown, Coral will refund our stake as a free bet, up to a maximum of £25.00. Translated into matched betting terms, this gives us a guaranteed profit of £13.43 and here’s how…
The Strategy:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed between 08:00 and 16:05 (race off) on Saturday 3rd February 2018, to be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds. At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Ben Dundee in the following example and I’ll update the bottom of the post with an actual selection after the race.
I like to place my exchange lay bets with Betfair as they have great liquidity in the run up to races and the site is really easy to use.
Qualifying Bet:
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £18.75 as our ‘Cashback’ figure as this is the amount we can expect to extract (75%) from our £25.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £20.73…
Place £25.00 on Ben Dundee @ 9.00 = Potential profit of £200.00
Lay £20.73 on Ben Dundee @ 10.00 = Potential liability of £186.57
Let’s have a look at our potential profit/loss for the possible outcomes…
| Ben Dundee wins | + £200.00 – £186.57 = £13.43 profit |
| Ben Dundee doesn’t win | – £25.00 + £19.69 + £18.75 (extract 75% from our £25.00 free bet) = £13.44 profit |
So, regardless of the result of the race, we’ll make a guaranteed profit of £13.43 on this Coral offer!
If our selection loses, our free bet will be credited by 12:00 on Sunday 4th February 2018 and will be valid for 24 hours.
If you’re unsure how to extract 75% cash from a £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
*Bleu Berry was available at back odds of 13.00 and lay odds of 16.50. Bleu Berry did not win the race, resulting in a profit of £11.43 on this Coral 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.