The Cheltenham Open 2016 gets underway this afternoon and you don’t want to miss this BetVictor offer! Simply bet a total of £20.00 on today’s races at Cheltenham and BetVictor will give us a £5.00 free bet to use on the same day. Translated into matched betting terms, this gives us a guaranteed profit of £3.36 and here’s how…
Qualifying Bet:
We must opt-in to this offer to be eligible.
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
We must bet a total of £20.00+ on today’s races at the Cheltenham Open Meeting, to be eligible. Only bets placed after 13:00 on Thursday 10th November 2016 will qualify.
Having looked at the odds available, I’ve opted to place my qualifying bet on Barters Hill in the 14:05 at Cheltenham.
I like to place my exchange lay bets with Smarkets as they have great liquidity, 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 calculate our lay stakes using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £19.69…
Place £20.00 on Barters Hill @ 2.875 = Potential profit of £37.50
Lay £19.69 on Barters Hill @ 2.94 = Potential liability of £38.20
Let’s have a look at our potential profit/loss for the possible outcomes…
| Barters Hill wins | + £37.50 – £38.20 = £0.70 loss |
| Barters Hill doesn’t win | – £20.00 + £19.30 (£19.69 minus 2% commission) = £0.70 loss |
So, regardless of the outcome, we will lose £0.70 in qualifying for our £5.00 free bet.
Free Bet:
Our £5.00 free bet will be credited as a bonus upon placement of our qualifying bets and will expire at the start of the last race of the day (15:50). Our bonus can only be used on Friday’s races at the Cheltenham Open 2016.
By using straightforward matched betting, we should be able to extract 80% out of our £5.00 free bet as cash, so £4.00. If we take into account our qualifying loss of £0.70, this gives us a guaranteed profit of £3.30 on this BetVictor offer!
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.