Black Type Cheltenham 2017 Offer – Supreme Novices’ Hurdle

Cheltenham Festival 2017 gets underway on Tuesday and you don’t want to miss this Black Type offer! Simply bet £10.00 on the Supreme Novices’ Hurdle (13:30) and Black Type will give us a £5.00 free bet every time the winning rider rides another winner throughout the Festival! Translated into matched betting terms, this gives us a potential profit of £23.52 and here’s how…

Qualifying Bet:

If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.

It’s entirely up to you who you place your qualifying bet on. Having looked at the odds available, I’ve opted to place my qualifying bet on Melon.

I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races and the site is really easy to use. They are also charging 0% commission on the first race every day at Cheltenham!

We can calculate our lay stakes using my matched betting calculator…

Back Bet (Bookie)

%

Lay Bet (Betting Exchange)

%

Min £
Max £
Lay stake required: £
Bookie
Exchange
Cashback
Total
If back (bookie) bet wins
£
£
£
= £
If lay (exchange) bet wins
£
£
£
= £
Total profit: £

Optimal Underlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £9.52…

black type logo

Place £10.00 on Melon @ 4.00 = Potential profit of £30.00

smarkets white

Lay £9.52 on Melon @ 4.20 = Potential liability of £30.46

Let’s have a look at our potential profit/loss for the possible outcomes…

Melon wins + £30.00 – £30.46 = £0.46 loss
Melon doesn’t win – £10.00 + £9.52 (£9.52 minus 0% commission) = £0.48 loss

So, regardless of the outcome, we’ll lose a maximum of £0.48 in qualifying for our potential free bets.

Free Bets:

Every time the Supreme Novices’ Hurdle winning jockey rides another winner at the Festival, we’ll receive a £5.00 free bet. Free bets will be credited by the start of race 1 (13:30) the following day. Free bets due from Friday will be credited within 48 hours. Free bets will be valid for 7 days.

By using straightforward matched betting, we should be able to extract 80% of any free bets as cash.

Ruby Walsh was the leading jockey last year with 7 race wins. Therefore, if the winning jockey goes on to win another 6 races, we’ll receive £30.00 in free bets, from which we can extract £24.00 cash. If we take into account our maximum qualifying loss of £0.48, this gives us a potential profit of £23.52 on this Black Type Cheltenham 2017 offer!

* The winner of the Supreme Novices’ Hurdle was ridden by Jack Kennedy. Jack Kennedy failed to win any further races, meaning we made a loss of £0.48 on this Black Type Cheltenham 2017 offer. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £60,000 worth of profit, and made it my mission to make matched betting accessible to everyone.