Royal Ascot 2018 continues on Thursday and you don’t want to miss this Money Back Special from Genting Bet! Simply place a single bet of £10.00+ on the 16:20 at Ascot and if the SP Favourite wins, Genting Bet will refund our first losing bet as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.54 and here’s how…
Qualifying Bets:
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.
Qualifying bets must be placed before 16:20 (race-off) on Thursday 21st June 2018, to be eligible.
For our qualifying bet, we need to back and lay a horse that is unlikely to start the race as favourite. At the time of writing, Order Of St George and Stradivarius are the only selections with suitable odds. Both horses are clear favourites but there’s no telling which will start the race as favourite. With that in mind, it may be worth waiting until just before the off, so that we can back the lesser fancied of the two.
I’ll use fictional odds for Stradivarius 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 at Smarkets gives us the smallest qualifying loss.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £9.74…
Place £10.00 on Stradivarius @ 3.00 = Potential profit of £20.00
Lay £9.74 on Stradivarius @ 3.10 = Potential liability of £20.45
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Stradivarius wins | + £20.00 – £20.45 = £0.45 loss |
| SP Favourite wins | – £10.00 + £9.54 + £8.00 (extract 80% from our £10.00 free bet) = £7.54 profit |
| Another horse wins | – £10.00 + £9.54 = £0.46 loss |
So, if the starting price (SP) favourite wins, we’ll make a nice profit of £7.54. Any other outcome and we’ll lose a maximum of £0.46. Risking £0.46 to make a profit of £7.54, gives us effective odds of 17.39. So, given that Order Of St George and Stradivarius (SP Favourites at the time of writing) are both odds of just 2.875 (15/8) to win the race, this is a profitable offer in the long run.
If eligible, free bets will be credited within 24 hours of our qualifying bet being settled and will be valid for 2 days. Free bet stakes are not returned with any winnings.
If you’re unsure how to extract 80% cash from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Stradivarius was available at back odds of 2.875 and lay odds of 3.10. Stradivarius won the race, resulting in a loss of £0.84 on this Genting Bet 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.