It’s a big day of racing at Cheltenham on Saturday, and Betfair are getting in on the action! Place an Exchange bet of up to £10.00 on the 14:25 Cheltenham, and if your bet loses, your stake will be refunded as a free bet. Translated into matched betting terms, this gives you a profit of £5.91 and here’s how…
* Racing at Cheltenham has been abandoned due to frozen ground. *
- Place an Exchange bet of up to £10.00 on the 14:25 Cheltenham (Saturday 10th December 2022).
- Applies to bets placed from 12:00 on Friday 9th December 2022.
- Applies to your first pre-race bet only.
- Applies to back bets only; lay bets do not qualify.
- Money back as a free bet if your bet loses.
- Betfair Rewards ‘Basic’ customers are excluded from this promotion.
- If eligible, your free bet will be credited within 24 hours.
- The free bet will be valid on any horse racing market for 7 days.
If your qualifying bet loses, Betfair will refund your stake as a free bet, so you can treat this as a ‘Money Back if Bet Loses‘ offer.
You’ll need to place your bet at long odds to maximise profit.
At the time of writing, ‘First Street‘ is available at back odds of 5.80 and lay odds of 5.90.
You can work out your lay stake using the ‘Money Back if Bet Loses‘ setting on my Matched Betting Calculator. You can enter ‘£8.00‘ as your ‘Cashback’ figure as that is the amount you can expect to convert your £10.00 free bet into, should your bet lose.
As you can see, the calculator tells you that your lay stake should be £8.10.
Place £10.00 on ‘First Street’ @ 5.80 = Potential profit of £45.60
Lay £8.10 on ‘First Street’ @ 5.90 = Potential liability of £39.69
Let’s look at your profit/loss for the possible outcomes.
So, no matter the outcome, you’ll make a minimum profit of £5.91 on this Betfair Exchange offer!
If you’re unsure how to convert your £10.00 free bet into £8.00 cash (80%), please see my ‘Free Bets Guide‘ for a walkthrough.