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 Telescope wins the 2.00 at Newbury 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 minimum guaranteed profit of £6.67 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.
For this particular offer, we need to select any horse other than race favourite Telescope. This ensures that if Telescope wins, we will automatically be eligible for a free bet refund as our qualifying bet will have lost. Having looked at the odds on offer, I’ve opted to place my qualifying bet on Windshear.
Place £25.00 on Windshear @ 12.00 = Potential profit of £275.00
Lay £21.51 on Windshear @ 14.00 = Potential liability of £279.57
Let’s have a look at our potential profit/loss for the possible outcomes…
| Windshear wins | +£275.00 – £279.57 = £4.57 loss |
| Telescope wins | -£25.00 + £20.43 + £20.00 (extract 80% from our £25.00 free bet) = £15.43 profit |
| Neither wins | -£25.00 + £20.43 = £4.57 loss |
So as things stand we will make £15.43 profit if Telescope wins. Unfortunately, we also stand to lose £4.57 on any other outcome. It’s not often that we are able to do this, but by placing a further lay bet on Telescope, we can guarantee ourselves a nice profit on any outcome. For those of you who like to understand the maths, we need to add our potential profit and potential loss together, so £15.43 + £4.57 = £20.00. We then need to divide this by the Telescope lay odds in decimal form minus 0.05 (this accounts for the 5% commission). So £20.00 / 1.69 = £11.83.
Lay £11.83 on Telescope @ 1.74 = Potential liability of £8.75
Let’s have a look at our overall profit/loss for the possible outcomes…
| Windshear wins | -£4.57+ £11.24= £6.67 profit |
| Telescope wins | £15.43 – £8.75 = £6.68 profit |
| Neither wins | -£4.57+ £11.24 = £6.67 profit |
So regardless of the result of the 2.00 at Newbury, we will make a nice minimum guaranteed profit of £6.67!
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 £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.