£48.00
Guaranteed Profit
£49.35
Actual Profit

Cheltenham Festival 2019 Offer – Betway


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 Betway Money Back Special! Simply place a bet on the first and/or last race at Cheltenham each day and if it loses, Betway will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us an overall guaranteed profit of £48.00 and here’s how…

Key Terms:

  • Minimum stake of £2.00.
  • Qualifying bets must be placed on the first and/or last race each day at the Cheltenham Festival 2019.
  • If our bet loses, Betway will refund our stake as a free bet, up to a maximum of £10.00.
  • We can claim a maximum of two free bets per day.

Qualifying Bets:

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

Race Time Date
Supreme Novices' Hurdle 13:30 Tuesday 12th March 2019
National Hunt Novices´ Chase 17:30 Tuesday 12th March 2019
Ballymore Novices' Hurdle 13:30 Wednesday 13th March 2019
Weatherbys Champion Bumper 17:30 Wednesday 13th March 2019
JLT Novices' Steeple Chase 13:30 Thursday 14th March 2019
Kim Muir Challenge Cup 17:30 Thursday 14th March 2019
JCB Triumph Hurdle 13:30 Friday 15th March 2019
Johnny Henderson Grand Annual Steeple Chase 17:30 Friday 15th March 2019

Losing stakes are refunded as a free bet, so this is effectively a risk-free offer.

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

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 Elixir De Nutz in the Supreme Novices’ Hurdle 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.

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

We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £10.00 free bet refund, should our horse lose…

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 £8.21…

Betway logo

Place £10.00 on Elixir De Nutz @ 8.50 = Potential profit of £75.00

Smarkets logo

Lay £8.21 on Elixir De Nutz @ 9.40 = Potential liability of £68.96

Outcomes:

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

Outcome Bookie Exchange Extracted Profit/Loss
Elixir De Nutz wins +£75.00 -£68.96 £6.04 profit
Elixir De Nutz doesn't win -£10.00 +£8.04 +£8.00 £6.04 profit

So, regardless of the outcomes and with some good odds, we should make a guaranteed profit of around £6.00 on each race. With 8 races to look forward to across the 4 days, this gives us an overall guaranteed profit of £48.00 on this Betway offer!

If eligible, free bets will be credited within 24 hours of our qualifying bets being settled. Free bets will be valid for 24 hours and free bet stakes are not included in any returns.

If you’re unsure how to extract £8.00 cash (80%) from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

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 £6.10
National Hunt Novices' Chase Le Breuil 15.00 17.00 £6.24
Ballymore Novices' Hurdle Brewin'upastorm 11.00 12.00 £6.33
Weatherbys Champion Bumper Ask For Glory 8.00 8.80 £6.03
JLT Novices' Steeple Chase Real Steel 7.00 7.40 £6.23
Kim Muir Challenge Cup Kilfilum Cross 8.00 8.40 £6.41
JCB Triumph Hurdle Quel Destin 5.00 5.40 £5.65
Johnny Henderson Grand Annual Steeple Chase Defi Bleu 17.00 19.00 £6.36

Comments


  1. Ben

    Guest user

    Paddy power doing money back as a free bet if your selections finishes 2nd , 3rd or 4th on each race on day 1.

    Similar set up to skybets Saturday offers

    +0
    Reply
    1. Matt

      37

      Thanks Ben. That one’s on the ‘to do’ list, along with the Coral Double Your Winnings offer.

      +0
      Reply
      1. Ben

        Guest user

        Yeh interested to see the calculations on the coral offer and how to make it work.

        +0
        Reply
  2. Mark

    Guest user

    Betway reduces my max stake so that I don’t qualify for any of their “free bets for every goal scored” etc. Promotions. Will I be able to qualify for this promotion or do you think they’ll limit my stake to less than £2 for this as well?

    +0
    Reply
    1. Matt

      37

      There’s only one way to find out really Mark. See what they’ll let you place on the first race and go from there.

      +1
      Reply
  3. rambo63

    0

    Has anyone got experience with opening another Betway account with the same address?

    +0
    Reply
  4. Daniel

    Guest user

    Hi Matt,

    They literally restricted my account on the first day and it was a brand new account I opened at the weekend. I just happened to win on a horse with high odds. Do you recommend not betting on high odds to preserve accounts?

    +0
    Reply
    1. Matt

      37

      There’s no way of knowing for sure which methods are best Daniel. Did you place any mug bets on other races with them or just on the first and last races?

      +0
      Reply
  5. Jack

    Guest user

    Am I right in thinking that if our bookie bet loses, then we have to extract the free bet in the standard fashion? Suggesting that ideally we want the bookie bet to lose and lock in our profit into Smarkets?

    Rookie question just getting back into the game after a year off!

    +0
    Reply
    1. Matt

      37

      Yes that’s correct Jack.

      +0
      Reply

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