Sky Bet Offer – 2.00 Newmarket

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 the favourite wins the 2.00 at Newmarket 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 potential profit of £17.96 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 Sky Bet offer, we need to select a horse that isn’t likely to start the race as favourite.  This ensures that if the favourite wins, we will automatically be eligible for the free bet refund as our qualifying bet will have lost.  Having looked at the odds available, I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on Balty Boys.

skybet

Place £25.00 on Balty Boys @ 13.00 = Potential profit of £300.00

betfair

Lay £24.16 on Balty Boys @ 13.50 = Potential liability of £302.04

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

Balty Boys wins +£300.00 – £302.04 = £2.04 loss
Favourite wins -£25.00 + £22.96 + £20.00 (extract 80% from our £25.00 free bet) = £17.96 profit
Neither wins -£25.00 + £22.96 = £2.04 loss

So we will make £17.96 profit if the favourite wins.  Unfortunately, we also stand to lose a maximum of £2.04 on any other outcome.  This is usually the point where I would advise you to place a further lay bet on the favourite to cover the potential loss but as we can’t be sure who will start the race as favourite, this wouldn’t be a wise move.  If the favourite fails to win, I’m happy to soak up the £2.04 loss and move on as the potential profit far outweighs the potential loss, making this a profitable offer in the long run.  Feel free to have a look at the odds closer to the race starting as it may become clearer who the favourite will be.

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

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.