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First Race Special (13:50 Goodwood) – Sky Bet

It’s Day 2 of the Goodwood Festival 2018 on Wednesday and it’s time for another Sky Bet First Race Special! If our horse finishes 2nd or 3rd in the 13:50 at Goodwood, Sky Bet will refund our stake as a free bet, up to a maximum of £20.00. Translated into matched betting terms, this gives us a potential profit of £14.95 and here’s how…

The Terms:

If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how they should be done.

Qualifying bets must be placed between 14:00 on Tuesday 31st July 2018 and 13:50 (race-off) on Wednesday 1st August 2018, to be eligible.

Qualifying Bet:

It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd or 3rd place finish.

At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional odds for Lil Rockerfeller in the following example and I’ll update the bottom of the post with an actual selection after the race.

At the time of writing, laying our bet with Smarkets is likely to give us the smallest qualifying loss.

We can calculate our lay stake 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 £19.34…

Sky Bet Logo

Place £20.00 on Lil Rockerfeller @ 4.333 = Potential profit of £66.66

Smarkets logo

Lay £19.34 on Lil Rockerfeller @ 4.50 = Potential liability of £67.69

Outcomes:

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

Lil Rockerfeller wins + £66.66 – £67.69 = £1.03 loss
Lil Rockerfeller finishes 2nd or 3rd - £20.00 + £18.95 + £16.00 (extract 80% from our £20.00 free bet) = £14.95 profit
Lil Rockerfeller finishes outside top 3 - £20.00 + £18.95 = £1.05 loss

So, we’ll make a nice profit of £14.95 if Lil Rockerfeller places 2nd or 3rd and we stand to lose a maximum of £1.05 on any other outcome. Risking £1.05 to make a profit of £14.95 gives us effective odds of 15.24, which I’m sure you’ll agree, makes this a profitable offer in the long run.

If eligible, free bets will be credited within 24 hours and will be valid for 3 days. Free bet stakes are not included in any returns.

If you’re unsure how to extract 80% of a £20.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

* See my Horse Racing Offers page for a full list of money back offers available today! *

Claim this offer
Click here to take advantage of this Sky Bet offer

The post First Race Special (13:50 Goodwood) – Sky Bet appeared first on Matched Betting Blog.

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