The Cheltenham Festival 2016 is here and ApolloBet are getting in on the action! Simply place a bet on the first race of the day at Cheltenham and if it loses, ApolloBet will give us a free bet worth half our stake for the last race of that day, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed minimum profit of £21.36 and here’s how…
Qualifying Bets:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
In order to claim the £10.00 maximum free bet each day, we will need to stake £20.00 on the first race of each day. 5 or more runners must run to be eligible.
The qualifying and free bet races are as follows…
| Day | Qualifying Race | Free Bet Race |
|---|---|---|
| Tuesday | 1.30 Supreme Novices’ Hurdle | 5.30 Close Brothers Handicap Chase |
| Wednesday | 1.30 Neptune Novices’ Hurdle | 5.30 Champion Bumper |
| Thursday | 1.30 JLT Novices Chase | 5.30 Kim Muir Challenge Cup |
| Friday | 1.30 Triumph Hurdle | 5.30 Grand Annual |
As we get a £10.00 free bet on the last race if our qualifying bet loses, we can treat this as a risk-free offer and so we need to select a horse with long odds.
Having looked at the odds available for the Neptune Novices’ Hurdle (13:30 Wednesday 16th March 2016), I’ve opted to place my qualifying bet on A Toi Phil.
I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges.
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ amount as we would expect to extract 80% of a £10.00 free bet as cash…
As you can see, the calculator tells us that our lay stake should be £17.70…
Place £20.00 on A Toi Phil @ 11.00 = Potential profit of £200.00
Lay £17.70 on A Toi Phil @ 12.00 = Potential liability of £194.66
Let’s have a look at our potential profit/loss for the possible outcomes…
| A Toi Phil wins | + £200.00 – £194.66 = £5.34 profit |
| A Toi Phil doesn’t win | – £20.00 + £17.34 + £8.00 (extract 80% from our £10.00 free bet) = £5.34 profit |
So regardless of the result of the race, we will make a guaranteed profit of £5.34. If we apply the same strategy on all four days of the Cheltenham Festival 2016, we should make an overall minimum guaranteed profit of £21.36 on this ApolloBet Cheltenham offer!
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.