It’s a big day of racing at Newbury on Friday, and you don’t want to miss this Ladbrokes offer! Place a £1.00+ bet on the 13:15 Newbury, and if it loses, Ladbrokes will refund our stake as a free bet up to £10.00. Translated into matched betting terms, this gives us a profit of £4.61 and here’s how…

## Key terms

• Applies to our first cash bet placed on the 13:15 Newbury.
• Applies to bets placed between 18:00 on Thursday 25th November 2021 and race-off (13:15) on Friday 26th November 2021.
• Minimum stake of £1.00.
• Maximum free bet of £10.00 if your horse loses.

## Qualifying bet

Losing stakes are refunded as a free bet, so we can treat this as a risk-free bet offer.

We’ll need to select a horse with long odds to maximise our profit.

Looking at the odds available, we could place our qualifying bet on Charlie’s Glance at back odds of 7.00 (6/1) and lay odds of 9.20.

We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my Matched Betting Calculator. We can enter £8.00 as our ‘Cashback’ figure as that’s the cash amount we can expect to convert our £10.00 free bet into if our horse loses.

As you can see, the calculator tells us that our lay stake should be £6.75…

Place £10.00 on Charlie’s Glance @ 7.00 = Potential profit of £60.00

Lay £6.75 on Charlie’s Glance @ 9.20 = Potential liability of £55.35

## Outcomes

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

So, no matter the outcome, we’ll make a minimum profit of £4.61 on this Ladbrokes offer!

If eligible, our free bet will be credited within 48 hours of our qualifying bet being settled and valid on horse racing for 7 days.

If you’re unsure how to convert your £10.00 free bet into £8.00 cash (80%), please see my free bets guide for a walkthrough of how it should be done.