Kick-off time (GMT): 29/08/2016 : 16:00
The US Open 2016 gets underway today and you don’t want to miss this Paddy Power offer! Place a £25.00 bet on the Men’s US Open Outright Winner market and Paddy Power will give us a £5.00 free bet for every singles match our selection wins. Translated into matched betting terms, this gives us a potential profit of £22.95 and here’s how…
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
Qualifying bets must be placed before the tournament gets underway at 16:00 today (Monday 29th August 2016), to be eligible.
It’s entirely up to you who you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on the favourite, Novak Djokovic.
I like to place my exchange lay bets with Smarkets as they have great liquidity, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges.
You can find the US Open Outright Winner market by entering ‘US Open 2016 Men’s Winner’ in the search box at the top of the homepage or by using the following link trail…
Smarkets > Tennis > US Open 2016 > US Open 2016 Men’s Winner
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £22.15…
Place £25.00 on Novak Djokovic @ 2.25 = Potential profit of £31.25
Lay £22.15 on Novak Djokovic @ 2.56 = Potential liability of £34.55
Let’s have a look at our potential profit/loss for the possible outcomes…
|Djokovic wins||+ £31.25 – £34.55 = £3.30 loss|
|Djokovic doesn't win||- £25.00 + £21.70 (£22.15 minus 2% commission) = £3.30 loss|
So, regardless of who wins the tournament, we will lose £3.30 in qualifying for our potential free bets.
For every singles match that Novak Djokovic wins, we will receive a £5.00 free bet by 12:00 the following day. Free bets will be valid on tennis matches for 48 hours. Free bet stakes are not returned with any winnings.
If Novak Djokovic wins all 7 of his potential matches, we will receive £35.00 in free bets, from which we should be able to extract around 75% as cash, so £26.25. If we take into account our qualifying loss of £3.30, this gives us a potential profit of £22.95 on this Paddy Power offer!
* Novak Djokovic won 6 matches before losing to Stan Wawrinka in the Final, meaning I made a profit of £19.20 on this Paddy Power offer. *