£5.43
Guaranteed Profit
£5.43
Actual Profit

Sky Bet Offer – 2.00 Brighton


Posted by Matt (administrator) Matt
Start Time: 15/10/2015 14:00

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…

 

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.

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.

skybet

Place £10.00 on Donttouchthechips @ 9.00 = Potential profit of £80.00

smarkets white

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.

Comments


  1. Phil

    Guest user

    Terms state that can’t use unnamed favorite or second favorite so you could use the favorite as your qualifying bet couldn’t you. Provided you name it in the selection?

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    Reply
  2. Paul

    Guest user

    I have to say. Smarkets are starting to pee me off with their cancelling of my bets. I often leave a lay unmatched but very close to the current lay price confident the lay odds will tighten only to return later and find smarkets have cancelled the bet. It has just happened on this race with the “market halted” reason at midday. So I have lost a tenner instead of making £12. I suppose its my fault because I am trying to squeeze the lay odds but its frustrating.

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    1. Matt

      294

      Hi Paul, leaving lay bets unmatched is a really risky business and you can get caught out. It’s always best to take the odds that are available and move on to the next offer. Whilst I accept that Betfair offer more markets, it’s very rare that I can’t find what I’m looking for at Smarkets and the 2% commission is a huge difference when totted up over the course of a year.

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      Reply
  3. Keith

    Guest user

    Paul, move over to betfair you may pay the 5% commission but the market pool is much better, you can take sp (once the race is off will automatically give you the best starting price at off) or keep so can also match even after the race has started. you can also cash out anytime. quite frankly is the no.1 exchange in the UK and has a lot more sports/bet types.

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    Reply
  4. Chris

    Guest user

    I backed the favourite in this (It wasn’t the favourite at the time) and they’ve gave me a free bet. Not complaining as i thought i’d fucked up!

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    Reply

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