The Cheltenham Festival 2018 kicks off with the Supreme Novices’ Hurdle on Tuesday and you don’t want to miss this Money Back Special from Coral! If our horse loses in the 13:30 at Cheltenham, Coral will refund our stake as a free bet, up to a maximum of £25.00. Translated into matched betting terms, this gives us a guaranteed profit of £13.84 and here’s how…
* If Coral run any further offers throughout the Festival, I’ll add them to this post for ease of reference. *
The Strategy:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how it should be done.
Qualifying bets must be placed between 08:00 on Wednesday 28th February 2018 and 13:30 (race off) on Tuesday 13th March 2018, to be eligible.
Losing stakes are refunded as a free bet, so this is effectively a risk-free offer. We therefore need to select a horse with long odds. Having looked at the odds available, we could place our qualifying bet on Summerville Boy.
I like to place my exchange lay bets with Betfair as they have great liquidity in the run up to races and the site is really easy to use.
Qualifying Bet:
We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £18.75 as our ‘Cashback’ figure as this is the amount we can expect to extract (75%) from our £25.00 free bet refund, should our horse lose…
As you can see, the calculator tells us that our lay stake should be £21.15…
Place £25.00 on Summerville Boy @ 9.00 = Potential profit of £200.00
Lay £21.15 on Summerville Boy @ 9.80 = Potential liability of £186.12
Let’s have a look at our potential profit/loss for the possible outcomes…
| Summerville Boy wins | + £200.00 – £186.12 = £13.88 profit |
| Summerville Boy doesn’t win | – £25.00 + £20.09 + £18.75 (extract 75% from our £25.00 free bet) = £13.84 profit |
So, regardless of the result of the race, we’ll make a guaranteed profit of £13.84 on this Coral offer!
If our selection loses, our free bet will be credited by 12:00 on Wednesday 14th March 2018 and will be valid on horse racing for 24 hours.
If you’re unsure how to extract 75% cash from a £25.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
* See my Horse Racing Offers page for a full list of money back offers available today! *
* Summerville Boy won the race at SP odds of 10.00 (9/1), resulting in a profit of £38.88 courtesy of Coral’s Best Price Guaranteed promotion. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.