Sky Bet have been head and shoulders above the rest during the Yorkshire Ebor Festival, so we shouldn’t be surprised to see another First Race Special offer for Day 4. If your horse finishes 2nd or 3rd in the 2.00 at York race course on Saturday, Sky Bet will refund all losing outright bets on that race as a free bet up to £25.00. Translated into matched betting terms, this gives us a potential profit of £18.04 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 walk-through guide on how they 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. At the time of writing, the lay odds are pretty poor so I’ll use fictional odds in the following example and I’ll update the bottom of this post with my actual selection after the race.
I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges. We can calculate our lay stakes using the matched betting calculator.
Place £25.00 on Mahsoob @ 6.00 = Potential profit of £125.00
Lay £23.51 on Mahsoob @ 6.40 = Potential liability of £126.96
Let’s have a look at our potential profit/loss for the possible outcomes…
Mahsoob wins | £125.00 – £126.96 = £1.96 loss |
Mahsoob places 2nd or 3rd | -£25.00 + £23.04 + £20.00 (extract 80% from our £25.00 free bet) = £18.04 profit |
Mahsoob places outside top 3 | -£25.00 + £23.04 = £1.96 loss |
So we will make a nice profit of £18.04 if Mahsoob places 2nd or 3rd and we stand to lose £1.96 on any other outcome. A £1.96 risk to make £18.04 profit gives us effective odds of 10.20. At the time of writing, Mahsoob is odds of 6.00 to win and odds of 1.55 to place in the top 3. This means that the current odds of Mahsoob finishing 2nd or 3rd are around 2.10, making this is a very profitable offer in the long run.
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* I actually placed my qualifying bet on Mahsoob at back odds of 6.00 and lay odds of 6.80. Mahsoob finished outside the top 3, meaning I made a loss of £3.32 on 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.