Sky Bet Offer – 14:30 Royal Ascot (Wednesday)

It’s Day 2 of Royal Ascot on Wednesday and it’s time for another Sky Bet Special! If our horse finishes 2nd or 3rd in the 14:30 at Ascot, 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 potential profit of £15.63 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 place finish.

Having looked at the odds available, I’ve opted to place my qualifying bet on Whitecliffsofdover.

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 stake using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £
Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £20.04…

Sky Bet Logo

Place £20.00 on Whitecliffsofdover @ 11.00 = Potential profit of £200.00

smarkets white

Lay £20.04 on Whitecliffsofdover @ 11.00 = Potential liability of £200.40

Let’s have a look at our potential profit/loss for the possible outcomes…

Whitecliffsofdover wins + £200.00 – £200.40 = £0.40 loss
Whitecliffsofdover places 2nd or 3rd – £20.00 + £19.63 + £16.00 (extract 80% from our £20.00 free bet) = £15.63 profit
Whitecliffsofdover finishes outside top 3 – £20.00 + £19.63 = £0.37 loss

So, we’ll make a nice profit of £15.63 if Whitecliffsofdover places 2nd or 3rd and we stand to lose a maximum of £0.40 on any other outcome. Risking £0.40 to make a profit of £15.63 gives us effective odds of 40.08, which I’m sure you’ll agree, makes this a profitable offer in the long run.

If you’re unsure how to extract 80% of a £20.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

* See my Horse Racing Offers page for a full list of money back offers available today! *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched 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.