There’s a big day of racing at Cheltenham on Friday and you don’t want to miss this Paddy Power offer! Simply place a bet of up to £10.00 on the 13:15 at Cheltenham and Paddy Power will pay both the 1st and 2nd placed horses out as winners. Translated into matched betting terms, this gives us a potential profit of £54.01 and here’s how…
Key Terms:
- Applies to bets placed between 12:00 on Wednesday 9th December 2020 and 13:15 (race-off) on Friday 11th December 2020.
- Applies to win singles and the win part of each way singles only.
- Paddy Power will pay both the 1st and 2nd placed horses out as winners, in cash.
Qualifying Bet:
If you’d like more information about qualifying bets and how they work, please see my qualifying bets guide.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd place finish (you’ll see why in a moment).
At the time of writing, the back and lay odds aren’t quite tight enough. Arian is favourite to win the race at back odds of 5.50 (9/2). I’ll use lay odds of 6.00 to illustrate how this offer works and I’ll update the bottom of this post after the race with a genuine selection.
We can calculate our lay stakes using my Matched Betting Calculator…
As you can see, the calculator tells us that our lay stake should be £9.20…
Place £10.00 on Arian @ 5.50 = Potential profit of £45.00
Lay £9.20 on Arian @ 6.00 = Potential liability of £46.00
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Profit/Loss |
|---|---|---|---|
| Arian finishes 1st | + £45.00 | – £46.00 | £1.00 loss |
| Arian finishes 2nd | + £45.00 | + £9.01 | £54.01 profit |
| Arian finishes outside top 2 | – £10.00 | + £9.01 | £0.99 loss |
So, we’ll make a nice profit of £54.01 if Arian finishes 2nd and we stand to lose a maximum of £1.00 on any other outcome. Risking £1.00 to make a potential profit of £54.01 gives us effective odds of 55.01, which I’m sure you’ll agree, makes this a profitable offer in the long run.
Bets will be settled and any winnings credited within 2 hours of the race ending.
* Martila was available at back odds of 9.00 and lay odds of 9.60. Martila finished outside the top 2, resulting in a loss of £0.80 on this Paddy Power offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.