A fantastic money-back special from Betfred. Simply place a bet on any horse in the Mares Hurdle at Cheltenham on Tuesday and if she’s beaten by odds on favourite, Quevega, Betfair will refund all losing bets as a free bet up to a maximum of £25.00. Translated into matched betting terms, this gives us a potential profit of £13.98. And here’s how…
We need to select a horse and hope she doesn’t win the race, as bets are only refunded in the event of Quevega winning. Having looked at the odds on offer, I’ve decided to bet on Cockney Sparrow.
Step 1:
Place £25.00 on Cockney Sparrow @ 9.00 = Potential profit of £200.00
Lay £22.61 on Cockney Sparrow @ 10.00 = Potential liability of £203.49
Step 2:
Let’s have a look at our potential profit/loss for the various outcomes…
|
Cockney Sparrow wins |
+£200.00 – £203.49 = £3.49 loss |
|
Quevega wins |
-£25.00 + £21.48 + £17.50 (we should be able to extract 75% of our £25.00 free bet) = £13.98 profit |
|
Neither wins |
-£25.00 + £21.48 = £3.52 loss |
So we will win £13.98 if Quevega wins the race. If Quevega doesn’t win, we will lose a maximum of £3.52 which I’m sure you’ll agree is a risk worth taking as Quevega is currently the odds on favourite, priced at 1.73 to win.
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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.