A fantastic money-back special from Skybet. Back a horse in the Skybet Dovecote Novices’ Hurdle (15:15 at Kempton) and if the starting favourite goes on to win, Skybet will refund the winning part of bets as a FREE BET up to £25.00. Translated into matched betting terms, this gives us a potential profit of £18.80! And here’s how…
It doesn’t matter which horse we back as long as it isn’t the favourite. Having looked at the odds on offer, I’ve opted to back Dubai Prince.
Step 1:
Place £25.00 on Dubai Prince @ Skybet @ 26.00 = Potential profit of £625.00.
Lay £25.05 on Dubai Prince @ Betfair @ 26.00 = Potential liability of £626.25.
Step 2:
Let’s have a look at our potential profit/loss for the various outcomes…
|
Dubai Prince wins |
£625.00 – £626.25 = £1.25 loss |
|
Dubai Prince doesn’t win and favourite wins |
-£25.00 + £23.80 + £20.00 (assumes we can extract 80% of the free bet) = £18.80 profit |
|
Dubai Prince doesn’t win and favourite doesn’t win |
-£25.00 + £23.80 = £1.20 loss |
So we will win £18.80 if the race favourite wins! If the favourite doesnt win, we will make a maximum loss of £1.25, which I’m sure you’ll agree is a risk worth taking as the starting odds of the race favourite are likely to be around 2.00.
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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.