Cheltenham Festival 2023 gets underway on Tuesday with the Supreme Novices’ Hurdle, and you don’t want to miss this Betfair Exchange offer! Place an Exchange bet of up to £10.00 on the 13:30 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 £6.52 and here’s how…
Key terms
- Available to selected customers only.
- You will not be eligible for this promotion if you have opted into the My Betfair Rewards ‘Basic’ package.
- Opt-in is required from 18:00 on Monday 13th March 2023.
- Place an Exchange bet of up to £10.00 on the 13:30 Cheltenham (Tuesday 14th March 2023).
- Applies to your first bet only.
- Applies to back bets only; lay bets do not qualify.
- Money back as a free bet if your bet loses.
- 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.
Qualifying bet
If your bet loses, your stake will be refunded as a free bet, so you can treat this as a ‘Money Back if Bet Loses‘ offer.
It’s best to select a horse with long odds to maximise profit.
At the time of writing, ‘Tahmuras‘ is available at back odds of 12.00 and lay odds of 12.50.
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 £8.52.
Place £10.00 on ‘Tahmuras’ @ 12.00 = Potential profit of £104.50
Lay £8.52 on ‘Tahmuras’ @ 12.50 = Potential liability of £97.98
Outcomes
Let’s look at your profit/loss for the possible outcomes.
| Outcome | Betfair | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Tahmuras wins | + £104.50 | – £97.98 | £6.52 profit | |
| Another horse wins | – £10.00 | + £8.52 | + £8.00 | £6.52 profit |
So, no matter the outcome, you’ll profit £6.52 on this Betfair Exchange offer!
If you’re unsure how to convert a free bet into 80% cash, please see my ‘Free Bets Guide‘ for a walkthrough.
Don’t miss out on one of the most profitable weeks of the matched betting calendar! Please see my ‘Cheltenham Festival 2023 Offers‘ page for a comprehensive list of available bookmaker offers.
* Marine Nationale won the race, resulting in a £6.52 profit on this Betfair Exchange 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.