money back as cash
23rd February 2019
Sky Bet are offering us money back as CASH if our horse finishes 2nd in the 14:05 Lingfield race today.
This gives us a really good opportunity to make some potential profit using the matched betting strategy.
The maximum cash back refund is £20, so we want to place a back stake of £20 on this race
To search for close odds for our qualifying bet, I will be using the Oddsmonkey Oddsmatcher, by placing 14:05 Lingfield in the filter search bar and limiting the bookmaker to Sky Bet. 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 Encore d’Or is available to back at 3 at Sky Bet and to lay at 3.2 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 £1.51 on our qualifying bet (these numbers are based on using the Smarkets exchange with a commission rate of 2%), however if our horse comes 2nd in the race, then we will receive a £20 cash refund.
If Encore d’Or wins the race or places outside the top 2, then we will have lost our qualifying loss of £1.51.
However, if Encore d’Or does finish 2nd in the race, that means we will receive a £20 cash refund and make a nice profit of around £18.50.