There’s another big day of racing at Punchestown today and Paddy Power are running another tasty little price boost on the action. They’ve enhanced Limini and Apples Jade both to win from 5/2 to a tasty 7/2! Translated into matched betting terms, this gives us a risk-free potential profit of £16.42 and here’s how…
Price Boost Bet:
The maximum stake for this offer is £20.00.
Place £20.00 on Limini & Apples Jade both to win @ 4.50 = Potential profit of £70.00
WARNING: Following the recent merger between Paddy Power and Betfair, to become Paddy Power Betfair, it’s no longer a good idea to place our lay bets with Betfair as this will surely increase our chances of getting restricted. Therefore, when doing Paddy Power offers, we need to place our lay bets with Smarkets. They have great liquidity, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by Betfair. We can also grab a £10.00 risk-free bet, just for signing up.
Race 1: 15:50 Punchestown
On the first race, we need to cover our original stake of £20.00. If we divide £20.00 by 0.98 (to account for the 2% Smarkets commission), this gives us a lay stake of £20.41.
Lay £20.41 on Limini @ 2.36 = Potential liability of £27.76
| If Limini wins | – £27.76 = – £27.76 |
| If Limini doesn’t win | – £20.00 + £20.00 = £0.00 |
So if Limini doesn’t win, the offer will be over and we’ll have broken even. However, if Limini does win, we will have lost £27.76 so far.
Race 2: 16.25 Punchestown
So, if Limini wins, this means on the next race, we need to cover both the £27.76 loss from the first race plus the original stake of £20.00. If we divide £47.76 by 0.98 (to account for the 2% Smarkets commission), this gives us a lay stake of £48.73.
Lay £48.73 on Apples Jade @ 1.53 = Potential liability of £25.82
| If Apples Jade wins | – £27.76 – £25.82 + £70.00 = £16.42 profit |
| If Apples Jade doesn’t win | – £20.00 – £27.76 + £47.76 = £0.00 |
So if either Limini or Apples Jade fails to win along the way, we’ll have broken even and there’s no harm done. However, if they both both win, we’ll have made a nice risk-free profit of £16.42!
I’d like to point out that the above workings are based on the lay odds that were available at the time of writing. If the lay odds fluctuate before we are able to place our lay bets, this may result in us making more potential profit, less potential or even a slight loss, so please bear that in mind before deciding whether or not to do this 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.