Why bother looking for horse racing tips today, when you can do a bit of matched betting and make low-risk profits? Sky Bet are back with another First Race Special on todays horse racing. If your horse finishes 2nd or 3rd in the 1.45 at Haydock race course, 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 £10.94 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.
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. Having looked at the odds on offer, I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on Edeymi. We can work out our lay stake using the matched betting calculator.
Place £25.00 on Edeymi @ 6.50 = Potential profit of £137.50
Lay £23.38 on Edeymi @ 7.00 = Potential liability of £140.29
Let’s have a look at our potential profit/loss for the possible outcomes…
| Edeymi wins | +£137.50 – £140.29 = £2.79 loss |
| Edeymi places 2nd or 3rd | -£25.00 + £22.21 + £20.00 (extract 80% from our £25.00 free bet) = £17.21 profit |
| Edeymi places outside top 3 | -£25.00 + £22.21 = £2.79 loss |
So as things stand we will make £17.21 profit if Edeymi places 2nd or 3rd. Unfortunately, we also stand to lose £2.79 on any other outcome and so we need to insure ourselves against this by laying Edeymi placing in the top 3 at the betting exchange. In order to calculate our lay stake, we need to divide £2.79 by 0.95 to account for the 5% commission. This gives us a lay stake of £2.94.
Lay £2.94 on Edeymi to be placed top 3 @ 2.68 = Potential liability of £4.94
Let’s have a look at our overall profit/loss for the possible outcomes…
| Edeymi wins | -£2.79 – £4.94 = £7.73 loss |
| Edeymi places 2nd or 3rd | £17.21 – £4.94 = £12.27 profit |
| Edeymi places outside top 3 | -£2.79 + £2.79 = £0.00 |
We can cover the potential £7.73 loss by placing an extra £1.33 on Edeymi to win at odds of 6.80.
All of this means that if Edeymi places 2nd or 3rd, we will make a nice profit of £10.94. If Edeymi wins, we will break even and there’s no harm done. If Edeymi places outside the top 3, we will have lost £1.33, but I’m sure you’ll agree it’s a risk worth taking as the potential profit far outweighs the potential loss, making this a 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 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.