£3.00
Guaranteed Profit
£3.01
Actual Profit

Royal Ascot 2020 Offer (Day 1) – Black Type


Posted by Matt (administrator) Matt
Start Time: 16/06/2020 13:15

It’s Day 1 of Royal Ascot 2020 on Tuesday and you don’t want to miss this Black Type free bet offer! Simply place a £10.00+ single bet on the 13:15 at Royal Ascot and Black Type will give us a £5.00 free bet to use on the first race on Wednesday. Translated into matched betting terms, this gives us a guaranteed profit of £3.00 and here’s how…

Key Terms:

  • Minimum stake of £10.00.
  • We must place a single bet on the 13:15 at Royal Ascot on Tuesday 16th June 2020.
  • Applies to the ‘Race Winner’ market only.

Qualifying Bet:

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.

It’s entirely up to you which horse you place your qualifying bet on.

At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Kaeso (6/1) in the following example and I’ll update the bottom of the post with an actual selection after the race.

At the time of writing, laying our bet with Betfair is likely to give us the smallest qualifying loss.

Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.

Banner showing the zero commission sign up offer from Betfair

Banner showing the zero commission sign up offer from Betfair

If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.

For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.

We can calculate our lay stake using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £

Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £9.23…

Black Type logo

Place £10.00 on Kaeso @ 7.00 = Potential profit of £60.00

Betfair logo

Lay £9.23 on Kaeso @ 7.60 = Potential liability of £60.91

Outcomes:

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

OutcomeBookieExchangeProfit/Loss
Kaeso wins+£60.00-£60.91£0.91 loss
Kaeso doesn't win-£10.00+£9.04£0.96 loss

So, regardless of the outcome, we’ll lose around £1.00 in qualifying for our £5.00 free bet.

Free Bet:

Our £5.00 free bet will be credited by 12:00 on Wednesday 17th June 2020 and must be used on the 13:15 at Royal Ascot on Wednesday 17th June 2020. Free bet stakes are not included in any returns.

By using straightforward matched betting, we should be able to extract 80% cash from our £5.00 free bet, so £4.00. If we take into account our expected qualifying loss of around £1.00, this gives us a guaranteed profit of £3.00 on this Black Type offer!

* Mutamaasik was available at back odds of 9.00 and lay odds of 9.80. Mutamaasik failed to win the race, resulting in a profit of £3.01 on this Black Type offer. *

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