Paddy Power Offer – 2.15 Newmarket

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 2.15 at Newmarket 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 £25.84 and here’s how…

 

Qualifying Bet:

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.

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 Aramist.  We can work out our lay stake using the matched betting calculator.

paddypower

Place £50.00 on Aramist @ 6.00 = Potential profit of £250.00

betfair

Lay £47.24 on Aramist @ 6.40 = Potential liability of £255.12

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

 

Aramist wins +£250.00 – £255.12 = £5.12 loss
Aramist places 2nd or 3rd -£50.00 + £44.88 + £40.00 (extract 80% from our £50.00 free bet) = £34.88 profit
Aramist places outside top 3 -£50.00 + £44.88 = £5.12 loss

 

So as things stand we will make £34.88 profit if Aramist places 2nd or 3rd.  Unfortunately, we also stand to lose £5.12 on any other outcome and so we need to insure ourselves against this by laying Aramist placing in the top 3 at the betting exchange.  In order to calculate our lay stake, we need to divide £5.12 by 0.95 to account for the 5% commission.  This gives us a lay stake of £5.39.

betfair

Lay £5.39 on Aramist to be placed top 3 @ 2.24 = Potential liability of £6.68

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

 

Aramist wins -£5.12 – £6.68 = £11.80 loss
Aramist places 2nd or 3rd £34.88 – £6.68 = £28.20 profit
Aramist places outside top 3 -£5.12 + £5.12 = £0.00

 

We can cover the potential £11.80 loss by placing an extra £2.36 on Aramist to win at odds of 6.00.

All of this means that if Aramist places 2nd or 3rd, we will make a nice profit of £25.84.  If Aramist wins, we will break even and there’s no harm done.  However, if Aramist places outside the top 3, we will have lost £2.36, which I’m sure you’ll agree is a risk worth taking as the potential profit far outweighs the potential loss, making 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.

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched 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.