Best Odds Guaranteed is possibly one of the most underrated and profitable forms of matched betting. And if you’re not sure what Best Odds Guaranteed or BOG is.. it is a horse racing promotion where punters will receive a higher price / odds in the event that the starting price (price at the start of the race) is higher than the odds they took.
Now the big question.. how do you make money from this offer? And the answer is simple. You back and lay multiple horses and the odds of some of those horses will rise and you will then make a healthy profit. The best part of it is that the maximum bonus you can receive from this offer is much much larger than the other standard offers. With many bookmakers they grant extra winnings from BOG up to the thousands.
In the event that the odds of some of your horses goes down, you’re covered as you are guaranteed price is at least the odds you took. However if the price rises then you potentially make a very healthy profit.
So to put it simply, here’s an example:
The following bets were placed in the morning:
Backed – Lucky Day – £100 @ 2.5
Layed – Lucky Day – £105 @ 2.44
Then, the starting price (SP) of Lucky Day ends up at 2.875, and she goes on to win the race.
Profit = £100 x 1.875 (not including stake) – £105 x 1.44 = +£36.30
You may have looked at that example and think ‘what if Lucky Day didn’t win’ and ‘what if the SP of Lucky Day went down below 2.5’. Well, the answer is that you wouldn’t have made any profit, but you wouldn’t have lost anything. You would have lost £100 with the bookmaker, and won £105 (minus commission of 5%) with betting exchange.
We advise you scout the horse racing markets and especially those with low priced favourites. Then monitor the prices now and again and wait for the odds to drop on the exchange, and you’ll find that the bookmakers quickly respond by lowering their odds. However, as bookmakers set their horse racing odds as fractions e.g. 5/2, 3/1, 7/4, and on the exchange you can lay more precise bets of 2.88, or 2.02 for example, and so this creates a window of opportunity to back and lay these favourites. And because the online bookmaking industry is so so competitive, some bookmakers knowingly keep their odds higher than others, and more importantly the prices on the exchange. 888Sport and bet365 offer very competitive prices on horse races, and they occasionally provide odds boost opportunities. They also run the BOG promotion, and so we strongly advise you open accounts with them and start searching for matched betting opportunities.
We advise you back and lay low priced favourites for three main reasons. Number one, because the odds fluctuate to a larger extent with these horses, and so the likelihood of you experiencing a rise in odds/prices is greater. Number two, because the majority of bets will be placed on favourites and so you will blend in with ‘mug punters’ and will less likely stand out as a profitable punter and get banned or restricted. Number three, because low priced favourites are most likely to win the race. For the exact probability simply divide 100 by the decimal odds. e.g. a horse with odds of 2.0 has a 50% chance of winning (100/2.0).
In the event that the odds have risen, and you could potentially make a healthy profit IF, I repeat, IF that horse wins, you might consider hedging a guaranteed profit. If you want to hedge you could use our Matched betting calculator, and place the BOG odds, and the lay odds. And then place a lay bet to be kept in play, and hope that the odds drop to that level and therefore get matched. If the extra lay bet doesn’t get matched it’s not worth worrying about as you have already covered your original back bet, as you placed a lay bet before the race.
That’s essentially it, as it’s relatively straightforward, and it’s a very profitable and underrated offer. Oh, and please remember that not all bookmakers run this promotion so double check on their website. But most bookmakers do offer BOG, so there’s plenty of profit-making opportunities out there.Pop us a comment just below with any thoughts or questions and a member of our team will get back to you shortly