£3.72
Guaranteed Profit
£3.74
Actual Profit

World Grand Prix Snooker Offer – Betfred


Posted by Matt (administrator) Matt
Start Time: 08/02/2019 13:00

There’s World Grand Prix 2019 snooker to look forward to on Friday and you don’t want to miss this Betfred ‘Bet £10, Get £5’ offer! Place a bet of £10.00 or more on the World Grand Prix snooker and Betfred will give us a £5.00 free bet to use on Saturday. Translated into matched betting terms, this gives us a guaranteed profit of £3.72 and here’s how…

Key Terms:

  • We must place our bet at odds of 1.50 (1/2) or greater.
  • Minimum stake of £10.00.
  • Qualifying bets must be placed on the World Grand Prix snooker on Friday 8th February 2019.

Qualifying Bet:

If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how it should be done.

Having looked at the odds available, we could place our qualifying bet on Barry Hawkins to beat Kyren Wilson.

At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.

We can calculate our lay stakes using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £

Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £10.24…

Betfred logo

Place £10.00 on Barry Hawkins @ 2.10 = Potential profit of £11.00

Betfair logo

Lay £10.24 on Barry Hawkins @ 2.10 = Potential liability of £11.26

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

OutcomeBookieExchangeProfit/Loss
Barry Hawkins wins+£11.00-£11.26£0.26 loss
Barry Hawkins doesn't win-£10.00+£9.72£0.28 loss

So, regardless of the outcome, we’ll lose a maximum of £0.28 in qualifying for our £5.00 free bet.

Free Bet:

Our £5.00 free bet should be credited by 12:00 on Saturday 9th February 2019 and will be valid until 09:00 on Monday 11th February 2019.

By using straightforward matched betting, we should be able to extract 80% cash from our £5.00 free bet, so £4.00. If we take into account our maximum qualifying loss of £0.28, this gives us a guaranteed profit of £3.72 on this Betfred offer!

* Barry Hawkins won the match 5-2, resulting in a profit of £3.74 on this Betfred offer. *

Comments


  1. Newbie

    0

    I would like to know what you placed the free bet on to make the £3:74 profit overall, I Understand generally you need to go for high odds with the free bet to profit more but I am always intrigued on what you placed the free bet on to make that profit but you don’t often cover that.

    +0
    Reply
    1. Matt

      193

      For consistency, it’s always assumed that we can extract 80% cash from our free bets. Sometimes we’ll extract more and other times we’ll extract less, but it averages out at around the 80% mark.

      +0
      Reply

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