There’s a big day of racing at Cheltenham on Tuesday and you don’t want to miss this Money Back Special from Ladbrokes! Simply place a bet on the 13:25 at Cheltenham and if it loses, Ladbrokes will give us our money back as a free bet, up to £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £5.02 and here’s how…
Key Terms:
- Qualifying bets must be placed between 08:00 and 13:25 (race-off) on Tuesday 1st January 2019.
- This offer applies to our first real money win or each way single bet on the 13:25 at Cheltenham.
- If our bet loses, Ladbrokes will refund our stake as a free bet, up to a maximum of £10.00.
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Losing stakes are refunded as a free bet, so this is effectively a risk-free bet offer. We therefore need to select a horse with long odds. Having looked at the odds available, we could place our qualifying bet on Crucial Role.
At the time of writing, laying our bet at Betfair gives us the biggest guaranteed profit.
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £10.00 free bet, should our bet lose…
As you can see, the calculator tells us that our lay stake should be £7.39…
Place £10.00 on Crucial Role @ 10.00 = Potential profit of £90.00
Lay £7.39 on Crucial Role @ 12.50 = Potential liability of £84.98
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Crucial Role wins | +£90.00 | -£84.98 | £5.02 profit | |
| Crucial Role doesn’t win | -£10.00 | +£7.02 | +£8.00 | £5.02 profit |
So, regardless of the outcome, we’ll make a guaranteed profit of £5.02 on this Ladbrokes offer!
If our selection loses, our free bet will be credited within 24 hours and will be valid on horse racing markets for 7 days. Free bet stakes will not be returned with any winnings.
If you’re unsure how to extract around 80% cash from the £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* Crucial Role was withdrawn not under orders. Black Op was available at back odds of 4.00 and lay odds of 4.10. Black Op failed to win the race, resulting in a profit of £5.68 on this Ladbrokes offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.