Readbet is offering $3.00 on Black Caviar to win the BTC Cup

While most bookmakers are offering less than 1.20 odds, Readbet is offering $3.00 on Black Caviar to win the BTC Cup at Doomben this Saturday. Just earlier today we commented that Sportingbet’s odds have plummeted to 1.16, which highlights the value of this promotion.

Readbet is one of the smaller players in the Australian bookmaking circle, and have been running numerous promotions such as 2.00 line bets on the NRL, AFL and Super Rugby to attract new users. This is their latest promotion, and given Black Caviar’s unbeaten record, it should attract a lot of attention. Readbet performed well in our bookmaker margins survey recently, displaying the lowest margins out of the Australian bookmakers surveyed. View our Readbet review.

The promotion

Bet on Black Caviar to win the BTC Cup and Readbet will guarantee your odds at a minimum of $3.00 (max boost of $50).

To be eligible you must register by entering the promotional code: BTCCUP2011 on the My Account page of the website, before placing your bet.

Below is an illustration of how the promotion works:

How much should you bet?

You want to get the full $50 boost without betting more than is required. Hence, the optimal bet is $50 / (3 – odds). So if the odds are 1.16, you should bet $27.17, rounded to the nearest cent.

Terms (learn more)

1. Place your bet by accepting the FIXED ODDS price for Black Caviar (win-only) in the BTC CUP, Race 7 Doomben Saturday 14 May 2011.
2. If the FIXED ODDS at the time your bet is placed is less than 3.00 and the bet wins, we will boost the odds to 3.00 (up to a maximum boost of $50).
3. The FIXED ODDS boost will be credited to your account within 48 hours after the race