Paddy Power Offer – Chesham Stakes

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 Saturday’s horse racing.  If your horse finishes 2nd or 3rd in the 14:30 Chesham Stakes at Ascot 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 £37.60 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 Ballydoyle.  We can work out our lay stake using the matched betting calculator.

Ordinarily, I would use the Betfair Exchange to place my lay bets but Ladbrokes are running a fantastic offer on their Exchange.  We can get 1% commission on the first race at Ascot every day this week.

paddypower

Place £50.00 on Ballydoyle @ 2.875 = Potential profit of £93.75

ladbrokes

Lay £48.08 on Ballydoyle @ 3.00 = Potential liability of £96.15

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

Ballydoyle wins +£93.75 – £96.15 = £2.40 loss
Ballydoyle places 2nd or 3rd -£50.00 + £47.60 + £40.00 (extract 80% from our £50.00 free bet) = £37.60 profit
Ballydoyle places outside top 3 -£50.00 + £47.60 = £2.40 loss

So we will make a nice profit of £37.60 if Ballydoyle places 2nd or 3rd and we stand to lose £2.40 on any other outcome. A £2.40 risk to make £37.60 profit gives us effective odds of 16.67, so the fact that Ballydoyle is 1.54 to place in the top 3, makes this a very 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.

Got a question?
Leave me a comment below

I usually respond within 24 hours.

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.