bet365 drop Betfred from Price Promise
November 4, 2016
It wasn’t quite fireworks when we learned bet365 is burning Betfred on Bonfire Night as the Stoke-based online bookmaker makes changes to its Price Promise offer.
Currently, bet365 ensures it offers best value by going best price or joint best price with a selection of leading bookmakers on every horse in every race shown live on Channel 4. The original list of bookmakers that bet365 will match is Ladbrokes, William Hill, Paddy Power, Coral, Boylesports and Betfred. But after the end of Channel 4 racing on Saturday 5th November, Betfred will be dropped from the list to be replaced by Sky Bet.
While bet365 says it feels the change will provide players a far more competitive offering and representation of the betting market, we’re not too sure. Betfred sponsor a lot of racing in the UK and while they may be slow to publish their prices, they have never been afraid to take on a well fancied runner and go top industry price.
Sky Bet, to its credit, promises to go top price on favourites at one meeting a day but they simply fall in line with prices available elsewhere. On average, Sky Bet odds are not significantly better or worse than any other bookmaker. But value seekers look for bookmakers who are prepared to stand out from the crowd and go best price for one or more fancied runners which is not something Sky Bet are renowned to do.
Why should matched bettors care about Price Promise?
Price Promise helps add value to bet365’s CH4 4/1 offer. By matching the best price among the competition it increases the number of close matches available on Channel 4 races which in turn means lower qualifying losses and higher cash retention from risk free bets.
The change will not be earth shattering by any means. Even without Price Promise, the Ch4 4/1 offer will be lucrative for matched betting and will remain a staple for making money on Saturday afternoons.
The offer gives punters a risk free bet on the next race whenever they back a winner at 4/1 or more. With a maximum stake of £50, the risk-free bet can be transformed into £40 cash by matched betting. You should expect to hit a risk-free bet on average every five or six attempts (depending on the odds of the qualifying selection) and this leaves plenty of room for a nice profit taking qualifying losses around 5%.
Still the news is disappointing, coming soon after bet365 withdrew its £50 mobile bonus which was an easy earner for new customers who already enjoy the best welcome bonus available, 100% initial deposit match up to £200. We’re hoping the latest change will be the last for a while, unless they decide to introduce a new offer to boost our income.