Royal Ascot 2017 gets underway on Tuesday and Sky Bet are getting involved with another First Race Special! Simply place a bet on the Queen Anne Stakes (14:30) at Royal Ascot on Tuesday and if it loses, Sky Bet will refund our stake as a free bet, up to a maximum of £20.00. Translated into matched betting terms, this gives us a guaranteed profit of £12.00+ and here’s how…
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed between 14:00 on Friday 16th June 2017 and 14:30 on Tuesday 20th June 2017, to be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds. At the time of writing, the lay odds are unavailable, so I’ll use fictional odds for Mutakayyef in the following example and I’ll update the bottom of the 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 work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £16.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £20.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £17.18…
Place £20.00 on Mutakayyef @ 8.00 = Potential profit of £140.00
Lay £17.18 on Mutakayyef @ 8.40 = Potential liability of £127.13
Let’s have a look at our potential profit/loss for the possible outcomes…
|Mutakayyef wins||+ £140.00 – £127.13 = £12.87 profit|
|Mutakayyef doesn't win||- £20.00 + £16.83 + £16.00 (extract 80% from our £20.00 free bet) = £12.83 profit|
So, regardless of the result of the race and with some good odds, we should make a guaranteed profit of £12.00+ on this Sky Bet offer!
If our selection loses, our free bet will be credited within 24 hours of the race ending and will be valid for 3 days.
If you’re unsure how to extract 80% cash from a £20.00 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 Lightning Spear at back odds of 7.50 and lay odds of 7.60. Lightning Spear didn’t win the race, meaning I made a guaranteed profit of £13.32 on this Sky Bet offer. *
Click here to take advantage of this Sky Bet offer