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Money Back Special (15:35 Goodwood) – Genting Bet

It’s Day 1 of the Goodwood Festival 2018 on Tuesday and you don’t want to miss this Money Back Special from Genting Bet! Simply place a single bet of £10.00+ on the 15:35 at Goodwood and if the SP Favourite wins, Genting Bet will refund our first losing bet as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £6.29 and here’s how…

Qualifying Bets:

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 before 15:35 (race-off) on Tuesday 31st July 2018, to be eligible.

For our qualifying bet, we need to back and lay a horse that is unlikely to start the race as favourite. Having looked at the odds available, we could place our qualifying bet on Idaho.

At the time of writing, laying our bet at Betfair gives 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 £8.73…

Genting Bet logo

Place £10.00 on Idaho @ 10.00 = Potential profit of £90.00

Betfair logo

Lay £8.73 on Idaho @ 11.50 = Potential liability of £91.66

Outcomes:

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

Idaho wins + £90.00 – £91.66 = £1.66 loss
SP Favourite wins - £10.00 + £8.29 + £8.00 (extract 80% from our £10.00 free bet) = £6.29 profit
Another horse wins - £10.00 + £8.29 = £1.71 loss

So, if the starting price (SP) favourite wins, we’ll make a nice profit of £6.29. Any other outcome and we’ll lose a maximum of £1.71. Risking £1.71 to make a profit of £6.29, gives us effective odds of 4.68. So, given that Stradivarius (SP Favourite at the time of writing) is odds of just 1.727 (8/11) to win the race, this is a profitable offer in the long run.

If eligible, free bets will be credited within 24 hours of our qualifying bet being settled and will be valid for 2 days. Free bet stakes are not returned with any winnings.

If you’re unsure how to extract 80% cash from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

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

The post Money Back Special (15:35 Goodwood) – Genting Bet appeared first on Matched Betting Blog.

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