It’s Day 3 of Royal Ascot 2018 and you don’t want to miss this Double Winnings offer from Ladbrokes! Place a single bet on the 14:30 at Ascot and if our horse wins, Ladbrokes will double our winnings as a free bet, up to a maximum of £25.00. Translated into matched betting terms, this gives us a potential profit of £17.36 and here’s how…
The Terms:
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 08:00 and 14:30 (race-off) on Thursday 21st June 2018, to be eligible.
To qualify, we must place a single bet on the 14:30 at Ascot. If our selection wins the race, Ladbrokes will double our winnings in free bets, up to a maximum of £25.00. Free bets due of £20.00 or more, will be be split into two equal free bets. If eligible, free bets will be credited within 24 hours of our bet being settled and will be valid for 24 hours. Free bet stakes are not included in any returns.
Qualifying Bet:
It’s entirely up to you which horse you go for. Having looked at the odds available, we could place our qualifying bet on Shang Shang Shang.
In order to work out our back stake, we need to divide £25.00 by 4.50 (back odds minus 1.00). This gives us a back stake of £5.56. It’s best that we stick to round numbers when placing our qualifying bet, so we should stake £5.00 instead.
At the time of writing, laying our bet at Smarkets gives us the smallest qualifying loss.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £4.45…
Place £5.00 on Shang Shang Shang @ 5.50 = Potential profit of £22.50
Lay £4.45 on Shang Shang Shang @ 6.20 = Potential liability of £23.14
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Shang Shang Shang wins | + £22.50 – £23.14 + £18.00 (extract 80% from our £22.50 in free bets) = £17.36 profit |
| Shang Shang Shang doesn’t win | – £5.00 + £4.36 = £0.64 loss |
So, if Shang Shang Shang wins the race, we’ll make a nice profit of £17.36. However, if Shang Shang Shang doesn’t win, we’ll have made a loss of £0.64. Risking £0.64 to make a profit of £17.36 gives us effective odds of 28.13. So, given that the odds are just 5.50 for Shang Shang Shang to win, this a profitable offer in the long run.
If you’re unsure how to extract 80% cash from £22.50 in free bets, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* See my Horse Racing Offers page for a full list of money back offers available today! *
* Shang Shang Shang won the race at a starting price of 6.00, resulting in a profit of £21.86 on this Ladbrokes offer courtesy of Best Odds Guaranteed. *
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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.