Courtesy of Paddy Power
For this weekend we are looking at a straightforward bet that we can make using the Paddy Power Imperial Cup offer to extract some free money from the bookies
Go to www.oddschecker.com and from the menu on the left hand side select horse racing. Then select the meeting Sandown and pick any race. Where the bookmakers are shown locate Paddy Power and move your mouse over the “Bookie Offers” symbol next to Paddy Power. A pop-up window will appear with details of the special offer of a free bet. Click on the offer button and open a new account.
This will entitle you to receive a free bet which will match the value of your first bet placed up to a maximum of £25.00. You can either use this to back your favourite football team or fancy on the weekends big horse race. (Please read the Paddy Power terms and conditions carefully to ensure that you meet the requirements).
An alternative use of the FREE money could be to have a “CRAIC” with it by following this simple but completely Irish Method. You need to find a horse that can finish 5th……… yes 5th in the Paddy Power sponsored Imperial Cup that is being staged at Sandown on Saturday 13th March (15.05): As the sponsor of this race Paddy Power are offering to pay out on the first five finishers, whereas normally, and with most other book makers only 4 places will be paid on each-way bets.
Read the form book or do what you would normally do to find a selection in this race………… I would go for one in the first 5 or 6 in the betting as it is more likely to run well, but also the second part of the “CRAIC” bet involves “laying” on Betfair, and the shorter price means you will need less in your Betfair account to cover the lay liability. By the way Betfair also offer a free bet bonus so if you do not have an account click here to open one and claim the free bet bonus.
Right, let’s say your selection is 10/1 or 11.0 in decimal format. The each-way terms for this race are ¼ odds for a place, so this works out to 3.50 (including your stake). To work out the calculation refer to the Oddschecker site and in the top right hand side there is a button called “Betting Tools”. Click the drop down menu and select “Hedging” and a new window will open. In the “Back Price” box type in the decimal win odds of the horse that you have selected (price at Paddy Power), in our example this is 11.00. Change the “Back Stake” to £12.50 and after looking at the Betfair win market the same horses “Lay Price”. This will generally be slightly higher as the prices on Betfair are normally better than those available with the Book Makers. Let’s say our horse is available at 11.70. (Leave “Commission” as the default).
By entering the “Lay Price” as 11.70 the calculator will tell you to lay £11.80 @ 11.70 and whether the horse wins or loses you will lose £1.29.
Now do the same calculation on the place price. Type in 3.50 in the back price and the Betfair place market lay price, let’s say 3.70. Press recalculate and the display will show that you need to lay £11.99 @ 3.70 and whether your horse wins or loses you will lose £1.11.
Your Betfair account will need to be funded by approximately £160.00 to cover the total liability.
Now fund your new Paddy Power account with £25.00 and place £12.50 each-way on your selection and straight after place your lay bets on Betfair.
You can then sit down with a glass of something cold…….maybe a Guinness….. and watch the race safe in the knowledge that at worst you have had a free bet.
Let’s see what can happen.
1. Your horse runs a brilliant race and actually WINS.
Paddy Power will payout your winnings to you of £181.25 which, less your original stake of £25 is £156.25 profit.
Your lay bets on Betfair lost, so you will lose £158.65 on those meaning you are £2.40 down, BUT…….when your bet is settled Paddy Power will place a £25.00 free bet in your account so you will be £22.60 to the good.
This bet can then be used to place a bet on your next event (check the terms and conditions).
2. Your horse runs well but finished 3rd
Paddy Power will pay out your placed winnings of £43.75 which less your original stake of £25.00 is £18.75 profit.
Your Betfair place lay bet loses but your win lay bet wins so your Betfair account will show a net loss of £21.15 meaning you are £2.40 down…. BUT….Paddy Power will still give you the free bet of £25.00 so you will be £22.60 to the good.
And finally the “CRAIC”
3. Your horse finishes 5th.
You will be paid out by Paddy Power as part of their special place terms offer…………..so your profit will be £18.75, but even better news is the Betfair lay bets both will pay out as the place liability is on the first 4 places only. So you will be in profit at Betfair by £22.60 making a total of £41.35.
But remember Paddy Power are also going to give you the £25.00 free bet, so you will be in profit by £66.35 and all you had to do was a few clicks of the mouse, drink your cold one and watch the horse race.
That sounds like my kind of fun.
Enjoy the Craic.
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