£40.00
Guaranteed Profit
£46.41
Actual Profit

Cheltenham Festival 2019 Offer – Bethard


Posted by Matt (administrator) Matt
Start Time: 12/03/2019 13:30

The Cheltenham Festival 2019 gets underway on Tuesday and you don’t want to miss this Bethard Double the Odds offer! Simply place a bet on the first race at Cheltenham each day and if our horse wins, Bethard will double our odds, based on a maximum stake of £20.00. Translated into matched betting terms, this gives us an overall guaranteed profit of £40.00 and here’s how…

Banner showing the Cheltenham Festival 2019 offer from Bethard

Key Terms:

  • Minimum stake of £5.00.
  • Promotion applies to maximum stakes of £20.00.
  • Qualifying bets must be placed before the first race each day (13:30).
  • If our selection wins the race, Bethard will double our odds.
  • Double odds winnings will be capped at a maximum of £50.00.

Qualifying Bets:

This offer is available on the first race each day as follows…

Race Time Date
Supreme Novices' Hurdle 13:30 Tuesday 12th March 2019
Ballymore Novices' Hurdle 13:30 Wednesday 13th March 2019
JLT Novices' Chase 13:30 Thursday 14th March 2019
JCB Triumph Hurdle 13:30 Friday 15th March 2019

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’ll need to select horses with short odds in order to maximise our profits.

There are two ways we can play this offer. Our first option is to just lay our bets normally and hope our horses win for some big profits. Our second option is to overlay our bets and lock in a guaranteed profit on each race.

The back and lay odds should tighten up on the day of each race. In the meantime though, I’ll use fictional lay odds for Defi Du Seuil (11/4) in the JLT Novices’ Chase to illustrate how this offer should be done each day. I’ll update the table at the bottom of the post with some actual selections after each race.

To work out our back stake, we just need to divide the capped maximum winnings of £50.00 by 2.75 (back odds minus 1.00, to account for our stake), which gives us £18.18. It’s best that we stick to round numbers when placing our qualifying bets, so we should stake £20.00 instead.

At the time of writing, laying our bet at Smarkets is likely to give us the biggest guaranteed profit.

We can calculate our overlay stake by entering our effective odds into my matched betting calculator…

£20.00 (stake) * 3.75 (odds) = £75.00 (initial returns)
£75.00 + £50.00 (capped double winnings) = £125.00 (total returns)
£125.00 / £20.00 (stake) = 6.25 (effective odds)

Select bet type

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 £31.41…

Bethard logo

Place £20.00 on Defi Du Seuil @ 3.75 = Potential profit of £55.00

Smarkets logo

Lay £31.41 on Defi Du Seuil @ 4.00 = Potential liability of £94.23

Outcomes:

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

Outcome Bookie Exchange Double odds Profit/Loss
Defi Du Seuil wins +£55.00 -£94.23 +£50.00 £10.77 profit
Defi Du Seuil doesn't win -£20.00 +£30.78 £10.78 profit

So, regardless of the outcomes and with some good odds, we should make a guaranteed profit of around £10.00 each day. With four days of racing to look forward to, this gives us an overall guaranteed profit of £40.00 on this Bethard offer!

If eligible, our extra winnings will be credited by 16:00 on the day of the respective qualifying race.

I’ll update the following table with some actual selections after each race…

Race Selection Back Odds Lay Odds Profit
Supreme Novices' Hurdle Al Dancer 5.50 5.70 £14.50
Ballymore Novices' Hurdle Champ 5.50 5.80 £13.90
JLT Novices' Steeple Chase Defi Du Seuil 3.75 4.10 £10.02
JCB Triumph Hurdle Sir Erec 2.10 2.26 £7.99

* The double winnings were not capped at £50.00 for the first two days of the festival, which led to higher profits. *

Comments


  1. Pancake123

    Guest user

    Created an account and it’s blocked on creation – might just be slowing people down creating accounts today?

    +0
    Reply
  2. Stu h

    Guest user

    Horrible website. Struggled with sign up and verification. Then it wouldnt let me deposit.
    Sat with live support for 30 minutes and didnt get a reply. Waste of my morning

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    Reply
  3. Simon B

    Guest user

    I’m fairly new to matched betting can anyone confirm I’ve got the details for this offer correct, I understand the double part I’m just not sure why the stake is 1 (is it always 1)?

    Using Fakir with odds @ 7 on Bethard and @ 8 on Smarkets

    7 (original odds) – 1 (stake) = 6
    6 x 2 (double) = 12
    12 + 1 (stake) = 13 (double odds)

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    1. Matt

      37

      Yes the stake is always 1.00 Simon, so your workings are spot on.

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      Reply
      1. Simon B

        Guest user

        Thanks for your help Matt 🙂

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        Reply
  4. RB

    Guest user

    I seem to have been credited my stake again – happen to anyone else?

    Using Klassical Dream @ 6.5 stake £20, my balance is now £260 giving effective odds of 13.00? (should be 12 using the above calc, which is what the T&C say)

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    Reply
    1. Matt

      37

      Not sure what’s happened there. I thought that with Klassical Dream winning at a starting price of 7.00 (6/1), the extra £20.00 might have been due to Best Odds Guaranteed, but they don’t seem to offer such a thing.

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      Reply
  5. Taz

    Guest user

    They had this example on the double odds page on Bethard.

    ‘For example if a player has a £50 bet on a 10/1 shot that wins, £30 will be placed at 10/1 and £20 will be placed at 21/1’

    So it looks like they pay out on the doubled decimal odds

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    Reply
  6. Adrian

    Guest user

    You can make £10 on each one , no way £16. The mistake in the example is the one was added to the odds and then doubled, when you need to double the odds then add one. Bethard actually use exchange odds so you need to minus one, double and then add one, otherwise you end up with an extra one on the back odds which gives the higher false profit

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    1. Matt

      37

      I’m with you on all of that Adrian and that’s how I originally blogged it, but as RB has commented above, it seems it might be the decimal odds that are doubled, which marries up with Bethard’s example.

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      Reply
  7. Betty McBetface

    Guest user

    Just been told promo has changed to max double odds payout of £50 !!!

    +1
    Reply
    1. Matt

      37

      Thanks for the heads up on this.

      +0
      Reply
  8. Susan H

    Guest user

    This offer has been updated to maximum £50 winnings so does that make the equation different?

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    Reply
    1. Matt

      37

      Just updated the post Susan.

      +1
      Reply
  9. Marco

    Guest user

    They’ve also changed it to say it’s double the fractional odds not decimal:
    “For example if a player has a £50 bet on a 10/1 shot that wins, £30 will be placed at 10/1 and £20 will be placed at 20/1”

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    1. Matt

      37

      That’s correct Marco, I’ve included that in the updated post.

      +1
      Reply
  10. Kris L

    Guest user

    Hi placed this bet just 20 Mins before the race started and had the same horse and odds on and I’ve only been out £85 by Bethard, so I’ve lost £10 on the exchange??

    +0
    Reply
    1. Matt

      37

      Extra winnings should be credited by 16:00 on the day of each respective race Kris, so check your account a bit later on mate.

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      Reply
  11. Bazza74

    0

    I did the same horse as above but did 6.25/4.30 . Got £75 pay out, hoping to see £125.00 in my account soon. New bookies always make me nervous.

    +0
    Reply
  12. Tipy Turner

    Guest user

    Can we do Sir Erec in this race? I’ve notice he is 1.80.

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    Reply
    1. Matt

      37

      Sir Erec may be our best option for this one. Just bear in mind that the double odds only applies to maximum stakes of £20.00.

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      Reply
  13. Nathan G

    Guest user

    Seeing Sir Eric is such a high favourite to win today at odds of 1.8, is it worth laying the bet and hoping Sir Eric wins, giving us a £50 bonus if he does win as expected. (obviously risk getting nothing if he doesnt)

    +0
    Reply
    1. Matt

      37

      Yes that’s an option Nathan. Don’t forget though that the double odds only apply to a maximum stake of £20.00. Based on the current odds of 1.833 (5/6), you’d be looking at a bonus of £18.33, rather than £50.00.

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      Reply
  14. Jon

    Guest user

    So if Sir Erec is 1.83 and the odds are doubled, would this be 3.66? Or 2.66?

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    Reply
    1. Matt

      37

      Your effective back odds would be 2.66 Jon.

      See my reply to Serge below for the workings…

      +1
      Reply
  15. Serge

    Guest user

    Hi Matt
    So using the 1.8 odds and max stake £20, does the calcs for this give effective back odds of 3.4?
    Cheers

    +0
    Reply
    1. Matt

      37

      I believe your effective back odds would be 2.60 Serge…

      £20.00 (stake) * 1.80 (odds) = £36.00 (initial returns)
      £36.00 + £16.00 (double winnings) = £52.00 (total returns)
      £52.00 / £20.00 (stake) = 2.60 (effective odds)

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      Reply
      1. Serge

        Guest user

        Thanks Matt. I’d incorrectly doubled the £16. Cheers

        +0
        Reply

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