Ladbrokes Odds-On Card
Friday, November 30th, 2007I used a Ladbrokes odds-on “20% Joker” last night on Alt. Madrid v Aberdeen. Had £500 at 1.25 (1/4) so got 1.30 with the bonus. Laid £555 at 1.20 for a nice profit of £39. It was the first time the staff in the shop had redeemed one of these coupons so it took about 10 mins for them to figure out the procedure. They get a token from the safe and swipe it into their computer system before taking the bet. Then they put a nice little stamp on your receipt.
Without the bonus I would have had to lay £534.20 for a profit of £18.17. So my 1,000 points was worth just under £21. I really hope Ladbrokes make this scheme permanent. Can they afford to give their mug punters a rebate of 2% without any problems?
It looks like using these jokers at higher odds is the way to go if you can get £500 on.
If you find a match at evens: say even money at “The Magic Sign” and 1.95 to lay on the exchange (at 3% commission) then we have;
Back £500@2.00, Lay £520.83@1.95 for a profit of £5.21 regardless of the result.
With a 20% Joker
Back £500@2.20, Lay £572.92@1.95 for a profit of £55.73 no matter who wins.
This is going to bring so many matches into arb territory.