It’s been a quiet week so far but Sky Bet are ramping things up with a fantastic offer on today’s horse racing. If our horse wins the 2.00 at Brighton this afternoon, Sky Bet will match our winnings with a free bet! Translated into matched betting terms, this gives us a guaranteed profit of £5.43 and here’s how…
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.
The maximum stake for this offer is £10.00 and we can’t place our qualifying bet on the unnamed favourite or unnamed second-favourite. The best way to do these offers is to select a horse with long odds.
Having looked at the odds available, I’ve opted to place my qualifying bet on Donttouchthechips who has back odds of 9.00 and lay odds of 9.80. We know that if our horse wins, our bet will be paid out in cash at normal odds with the double winnings paid as a free bet.
Therefore, if we place £10.00 on Donttouchthechips at odds of 9.00, it will return £90.00 in cash and an £80.00 free bet. We know we can extract 80% from any free bet, which gives us total returns of £154.00 and effective odds of 15.40. We can enter these effective odds on the matched betting calculator to calculate our lay stake.
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.
Place £10.00 on Donttouchthechips @ 9.00 = Potential profit of £80.00
Lay £15.75 on Donttouchthechips @ 9.80 = Potential liability of £138.57
Let’s have a look at our potential profit/loss for the possible outcomes…
|Donttouchthechips wins||+£80.00 – £138.57 + £64.00 (extract 80% from our £80.00 free bet) = £5.43 profit|
|Donttouchthechips doesn't win||-£10.00 + £15.43 = £5.43 profit|
So regardless of the result of the race, we will make a guaranteed profit of £5.43 on this Sky Bet offer!
If you’re unsure how to extract 80% of free bets, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
Click here to take advantage of this Sky Bet offer