Why bother looking for horse racing tips today, when you can do a bit of matched betting and make low-risk profits? Paddy Power are back with another Money Back Special on todays horse racing. If your horse finishes 2nd or 3rd in the 13:45 at Sandown race course, Paddy Power will refund all losing outright bets on that race as a free bet up to £50.00. Translated into matched betting terms, this gives us a potential profit of £34.44 and here’s how…
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walkthrough guide on how it should be done.
This offer applies to bets placed from 10:00am on Saturday 13th June 2015.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd or 3rd placed finish. Having looked at the odds on offer, I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on Pacify. We can work out our lay stake using the matched betting calculator.
Place £50.00 on Pacify @ 8.00 = Potential profit of £350.00
Lay £46.78 on Pacify @ 8.60 = Potential liability of £355.56
Let’s have a look at our potential profit/loss for the possible outcomes…
|Pacify wins||+£350.00 – £355.56 = £5.56 loss|
|Pacify places 2nd or 3rd||-£50.00 + £44.44 + £40.00 (extract 80% from our £50.00 free bet) = £34.44 profit|
|Pacify places outside top 3||-£50.00 + £44.44 = £5.56 loss|
So we will make a nice profit of £34.44 if Pacify places 2nd or 3rd and we stand to lose £5.56 on any other outcome. A £5.56 risk to make £34.44 profit gives us effective odds of 7.19, so the fact that Pacify is 2.84 to place in the top 3, makes this a profitable offer in the long run.
If you’re unsure how to extract 80% of our £50.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.