risk free – Ladbrokes offer of £25 free bet if match ends in draw

• I am looking at taking Ladbrokes offer of £25 free bet if match ends in draw on selected markets. But my maths seems to be letting me down so could do with Matched betting or maths guru working out where I am going wrong please.

  I will be Backing HT/FT market.

  I will be doing Tottenham / Tottenham as it need to be a loosing bet and I think that will be a loosing bet, just my own but immaterial.

  Odds have changed a little now but more after the maths than anything.

  The Back odds at time of printing were 4.75,
  The Lay odds were 5.2

  So I back for £25
  And I lay for £20.67 giving a liability of 96.28.

  This gives me a guaranteed loss of £2.53.

  So then I lay the draw at odds of 3.45 for 2.58, Liability of £6.31 which in theory should give me a break even either way.

  Obviously getting the free bet if it is a draw.

  Now when I do the maths I get this

  No draw
  Bookies -£25
  Exchange Lay +£22.46
  Lay the Draw +£2.58

  Giving a profit of £0.04

  But

  When I do the draw
  Bookies +£105
  Exchange Lay -£96.28
  Lay the Draw -£6.31

  Giving a profit of £2.41.

  Now as far as I was concerned I should have been as close to £0.00 as near dam it for both outcomes so where am I going wrong please ?

  Or is that indeed correct ?

  Or even better is there a bet calculator that can work it out for me ?

  Thank you,

  Carlton

  +0

  

  Annonymouse

  0

  April 21, 2017 at 2:15 pm