Melbourne Cup Day Promotions

Posted: October 30, 2015 at 10:46 am

The marketplace is packed with a plethora of promotions for Melbourne Cup Day.

For the savvy Betfair punters out there, showcased below are two promotions available this week and details on how to use them to your advantage to create opportunities with minor risk.*

Sportsbet Money Back Promotion

‘Place a fixed odds win bet on the Melbourne Cup and if your horse finishes 2nd or 3rd we’ll refund your bet up to $50’

To take advantage of this promotion I recommend adopting a maximum profit betting approach. Within this approach, you need to select the horse that will finish 2nd or 3rd. For full details on how to utilise this promotion, please see below.

A)   Place a $50 bet on Trip to Paris at $8 with Sportsbet (Win Market).

B)   Place a $44.74 Lay bet on Trip To Paris at $9 with Betfair (Win Market).


If Trip To Paris finishes 2nd or 3rd:

A)   $0 position ($50 stake refunded due to finishing position)

B)   $42.06 profit ($44.74 Lay profit minus $2.68 with 6% Exchange commission)

Result: $42.06 profit


If Trip To Paris finishes 4th or further back:

A)   $50 loss

B)   $42.06 profit ($44.74 Lay profit minus $2.68 with 6% Exchange commission)

Result: -$7.94

 

If Trip To Paris wins the race:

A)   $350 profit

B)   $357.92 loss

Result: -$7.92

How to calculate the Lay amount for maximum reward:

If the Back and Lay prices have changed. Simply follow the below steps to determine your new Lay amount. These steps are based on the odds available in the Melbourne Cup Trip To Paris example.

Lay Stake = (Back Stake + Winnings) / (Lay Odds – Commission)
= ($50 + [($50 x $8) – $50)] / ($9.00 – 0.06)
= $400 / $8.94
= $44.74

  • Available for the Melbourne Cup Race 7
  • Applies to the first fixed odds win bet on the race
  • Max $50 bet refund
  • Bet must be placed on Tuesday 3rd November

For additional terms and conditions and further details visit their promotions page.

Unibet Bonus Bet Promotion

‘Place a WIN bet on Race 1 on Melbourne Cup Day and if your bet loses, you’ll receive a refund as a RACING BONUS BET up to $30.’

To take advantage of this promotion I recommend attempting to achieve the bonus bet with a minor risk strategy. For full details please see below.

A)   Place a $30 bet on Stop Making Sense at $11.00 with Unibet (Win Market).

B)   Place a $26.53 Lay bet on Stop Making Sense at $12.50 with Betfair (Win Market).


If Stop Making Sense loses:

A)   $30 loss

B)   $24.94 win ($26.53 win minus $1.59 with 6% exchange commission)

Result: -$5.06 + $30 Bonus Bet Awarded


If Stop Making Sense wins:

A)   $300 profit

B)   $305.10 loss

Result: -$5.10

If the Back and Lay prices have changed. Simply follow the below steps to determine your new Lay amount. These steps are based on the odds available in the example above.

Lay Stake = (Back Stake + Winnings) / (Lay Odds – Commission)
= ($30 + [($30 x $11) – $30)] / ($12.50 – 0.06)
= $330 / $12.44
= $26.53

  • Available for Race 1 only
  • For the offer to be valid, your first Fixed Odds Win bet on the race must lose
  • Max $30 bet stake that will be refunded
  • Excluding NSW, WA, SA and New Zealand customers
  • Bet must be placed on Tuesday 3rd November to be eligible

For additional terms and conditions and further details visit their promotions page.

Until next time,

The Promo Arber.



Related Markets

Flemington Race 1 Market

Flemington Race 7 Market

 

Related Articles

Introduction into Promotional Arbitrage

 

*This information is general in nature. Betfair does not warrant the accuracy of any promotional information of odds. This article does not constitute betting advice. Customers should review the terms and conditions of promotions to determine their eligibility.