If you’re looking for Goodwood offers this week, Sky Bet are leading the way! Simply place a bet on the 2.00 Sky Bet First Race Special Stakes at Goodwood on Tuesday and if it loses, Sky Bet will refund us as a free bet up to a maximum of £25.00. Translated into matched betting terms, this gives us a guaranteed minimum profit of £14.77 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.
For this particular offer, we need to select a horse that has a decent chance of losing so that we receive the free bet refund. It therefore makes sense to place our qualifying bet on a horse with long odds. Having looked at the odds on offer, I’ve opted to place my qualifying bet on Elhaame.
I like to place my exchange lay bets with Smarkets as they have great liquidity, 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 stake using the matched betting calculator.
Place £25.00 on Elhaame @ 11.00 = Potential profit of £250.00
Lay £22.04 on Elhaame @ 12.50 = Potential liability of £253.41
Let’s have a look at our potential profit/loss for the possible outcomes…
| Elhaame wins | +£250.00 – £253.41 = £3.41 loss |
| Elhaame doesn’t win | -£25.00 + £21.59 + £20.00 (extract 80% from our £25.00 free bet) = £16.59 profit |
So as things stand we will make £16.59 profit if Elhaame doesn’t win and a loss of £3.41 if he does win. By placing a further back bet on Elhaame (ideally with another bookmaker), we can guarantee ourselves a profit on any outcome…
Place £1.82 on Elhaame @ 11.00 = Potential profit of £18.20
Let’s have a look at our overall profit/loss for the possible outcomes…
| Elhaame wins | -£3.41 + £18.20 = £14.79 profit |
| Elhaame doesn’t win | £16.59 – £1.82 = £14.77 profit |
So regardless of the result of the 2.00 Sky Bet First Race Special Stakes, we will make a guaranteed minimum profit of £14.77!
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
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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.