There’s a big day of racing at Newmarket on Wednesday and it’s time for another Sky Bet money back offer! If our horse finishes 2nd or 3rd in the 16:30 at Newmarket, Sky Bet will refund our stake as cash, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £9.10 and here’s how…
- This offer applies to our first bet on the 16:30 at Newmarket.
- Qualifying bets must be placed between 14:00 on Tuesday 20th October 2020 and 16:30 (race-off) on Wednesday 21st October 2020.
- If fewer than seven runners come under starters orders, Sky Bet may withdraw the offer.
- If our horse finishes 2nd or 3rd, Sky Bet will refund our stake as cash, up to £10.00.
If you’d like more information about qualifying bets and how they work, please see my Qualifying Bets Guide.
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 lay odds for Twilight Song 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 Betfair is likely to give us the smallest qualifying loss.
Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.
If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.
For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £9.29…
Place £10.00 on Twilight Song @ 5.00 = Potential profit of £40.00
Lay £9.29 on Twilight Song @ 5.40 = Potential liability of £40.87
Let’s have a look at our potential profit/loss for the possible outcomes…
|Twilight Song wins||+£40.00||-£40.87||£0.87 loss|
|Twilight Song finishes 2nd or 3rd||-£10.00||+£9.10||+£10.00||£9.10 profit|
|Twilight Song finishes outside top 3||-£10.00||+£9.10||£0.90 loss|
So, we’ll make a nice profit of £9.10 if Twilight Song finishes 2nd or 3rd and we stand to lose a maximum of £0.90 on any other outcome. Risking £0.90 to make a profit of £9.10 gives us effective odds of 11.11, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If eligible, cash refunds will be credited within 24 hours of the race finishing.