£24.00
Guaranteed Profit
£24.21
Actual Profit

Cheltenham Festival 2019 Offer – Coral


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 Coral Double Your Winnings offer! Simply place a bet on the first race at Cheltenham each day and if our horse wins, Coral will double our winnings up to £25.00 in cash. Translated into matched betting terms, this gives us an overall guaranteed profit of £24.00 and here’s how…

Banner showing the Cheltenham Festival 2019 offer from Coral

Key Terms:

  • Minimum stake of £1.00.
  • Applies to first real money bet on each eligible race.
  • Qualifying bets must be placed between 08:00 on Wednesday 27th February 2019 and 13:30 (race-off) on the day of each respective race.
  • If our selection wins the race, Coral will double our winnings in cash, up to £25.00.

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' Steeple 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 Al Dancer 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.

In order to work out our back stake, we need to divide £25.00 by 2.50 (back odds minus 1.00). This gives us a back stake of £10.00, which is ideal as it’s best that we stick to round numbers when placing our qualifying bet.

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…

£10.00 @ odds of 3.50 = Returns of £35.00
£35.00 + Double winnings of £25.00 = Total returns of £60.00
£60.00 / £10.00 stake = Effective odds of 6.00

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 £16.30…

Coral logo

Place £10.00 on Al Dancer @ 3.50 = Potential profit of £25.00

Smarkets logo

Lay £16.30 on Al Dancer @ 3.70 = Potential liability of £44.01

Outcomes:

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

Outcome Bookie Exchange Double Profit/Loss
Al Dancer wins +£25.00 -£44.01 +£25.00 £5.99 profit
Al Dancer doesn't win -£10.00 +£15.97 £5.97 profit

So, regardless of the outcomes and with some good odds, we should make a guaranteed profit of around £6.00 each day. With four days of racing to look forward to, this gives us an overall guaranteed profit of £24.00 on this Coral offer!

If eligible, double winnings will be credited shortly after settlement of the respective race.

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

Race Selection Back Odds Lay Odds Profit
Supreme Novices' Hurdle Angels Breath 6.50 7.00 £3.07
Ballymore Novices' Hurdle Champ 5.50 5.80 £3.47
JLT Novices' Steeple Chase Defi Du Seuil 3.75 4.10 £7.51*
JCB Triumph Hurdle Sir Erec 2.10 2.18 £10.16

* Defi Du Seuil won the race with a starting price (SP) of 4.00 (3/1), resulting in £2.50 extra profit courtesy of Coral’s Best Price Guaranteed promotion.

Comments


  1. Gareth P

    Guest user

    This bet doesn’t work because the maximum pay out is £25

    +0
    Reply
    1. Matt

      37

      We’re staking £10.00 at odds of 5/2 Gareth, which gives us a payout of £25.00 if the horse wins. We divide the maximum payout of £25.00 by the back odds (minus 1.00) when calculating our back stake, so that we can maximise our potential payout.

      +1
      Reply
  2. Superme

    0

    Im not too sure about how to tackle this offer. Looking at the odds available at the moment (starting around the 6 mark) should the back stake only be £5. Its working out at around £2 profit.

    Will you be updating with your selection and potential profit prior to the races starting?

    +0
    Reply
    1. Matt

      37

      The option is there to do a standard back and lay, but the odds should tighten up closer to each race starting.

      I’ll be updating the tables for all offers at the end of each day mate.

      +0
      Reply
  3. Sam M

    Guest user

    dont understand this offer, so if i just do a standard back and lay but then what if the horse doesn’t win which is no double profit. which just results in a loss?

    +0
    Reply
    1. Liam

      Guest user

      The Back odds are calculated with ‘effective odds’ (see the bit in bold italics) since you get enhanced if you win. This essentially turns the bet into an underlay.

      +0
      Reply
      1. Matt

        37

        That’s correct Liam, though I think you mean ‘overlay’.

        +0
        Reply
  4. Tim

    Guest user

    Anyone had the double winnings through yet?

    +0
    Reply
  5. Newbie

    Guest user

    I am confused with this offer if you can help please.

    Looking at tomorrow Champ has back odds of 4.2 and lay odds are 5 (there are none closer)

    4.2 minus 1 = 3.2.
    £25/3.2 = £7.82 back stake

    If you put this into match calculator (with 0% commission) this equals a loss of £1.25 either way? Am I missing something?

    +0
    Reply
    1. Matt

      37

      Your back stake calculation is correct, but you’ll want to stake £8.00 instead as it’s best that we stick to round numbers.

      You then need to work out your effective odds…

      £8.00 @ odds of 4.20 = Returns of £33.60
      £33.60 + capped double winnings of £25.00 = Total returns of £58.60
      £58.60 / £8.00 stake = Effective odds of 7.325

      You then just need to enter your effective odds into the calculator as your back odds along with the lay odds of 5.00. This gives you a guaranteed profit of £3.72.

      +1
      Reply
  6. djparkie

    0

    Been pretty lucky with this last two days. Had the winner of first race each day. 🙂

    +0
    Reply
  7. Alex S

    Guest user

    On today’s race at the minute not great odds, but if we place £35 on sir erec @ 1.72 we would return £25.45 (Not inc stake) + £25 (double winnings). Is this ok to do?

    +0
    Reply
    1. Matt

      37

      Yes I can’t see any reason why not Alex.

      +1
      Reply

Post a comment


Your email address will not be published. Required fields are marked *