money back as a free bet
2nd March 2019
Paddy Power are offering us a free bet (max £10) on all losers for the 15:00 Doncaster race if Danse Idol wins the race.
This gives us a really good opportunity to make some potential profit using the matched betting strategy.
The maximum free bet is £10 so we want to place a back stake of £10 on this race.
The free bet offer is triggered if Danse Idol wins the race, so we need to bet on a horse that isn’t Danse Idol.
To search for close odds for our qualifying bet, I will be using the Oddsmonkey Oddsmatcher, by placing Doncaster 15:00 in the filter search bar and limiting the bookmaker to Paddy Power. As seen below:
At the time of writing there are not any horses with close enough odds, so for the sake of this example I will make up fictional odds and say that Papagana is available to back at 4.2 at Paddy Power and to lay at 4.6 at Smarkets. However do make sure to find close odds if attempting this offer, the best time to find close odds will be within half hour of the race starting.
We need to enter our back stake, back and lay odds and our commission rate based on the exchange we are using into the matched betting calculator set to normal. This will work out the lay stake we want to place at the exchange, as seen below:
As you can see from the calculator above, we would make a qualifying loss of £1.01 on our qualifying bet (these numbers are based on using the Smarkets exchange with a commission rate of 2%), however if Danse Idol wins the race, then our horse will lose and we will be given a £10 free bet.
If Danse Idol wins the race, that means that our horse and bet have lost and we will be credited a £10 free bet within 2 hours of the race ending.
The £10 free bet stake will not be included in any winnings so set the matched betting calculator to Free Bet SNR (Stake Not Returned) and we want to look for high odds to maximise our returns.
You should be able to make a potential profit of around £7 if the free bet offer is triggered.