£60.00
Guaranteed Profit
£62.82
Actual Profit

Cheltenham Festival 2019 Offer – Sky Bet


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 Sky Bet Money Back Special! Simply place a bet on the first race at Cheltenham each day and if it loses, Sky Bet will refund our stake as cash, up to a maximum of £20.00. Translated into matched betting terms, this gives us an overall guaranteed profit of £60.00 and here’s how…

Key Terms:

  • Qualifying bets for Day 1 must be placed between 08:00 on Friday 22nd February 2019 and 13:30 (race-off) on Tuesday 12th March 2019.
  • This offer applies to our first cash win or each way single bet on the 13:30 at Cheltenham.
  • If our bet loses, Sky Bet will refund our stake as cash, up to a maximum of £20.00.

Qualifying Bets:

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

RaceTimeDate
Supreme Novices' Hurdle13:30Tuesday 12th March 2019
Ballymore Novices' Hurdle13:30Wednesday 13th March 2019
JLT Novices' Steeple Chase13:30Thursday 14th March 2019
JCB Triumph Hurdle13:30Friday 15th March 2019

Losing stakes are refunded as cash, so this can be treated as a risk-free bet 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 Angels Breath 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 £20.00 as our ‘Cashback’ figure as our full £20.00 stake will be refunded as cash if our horse loses…

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 £15.67…

Sky Bet logo

Place £20.00 on Angels Breath @ 6.00 = Potential profit of £100.00

Smarkets logo

Lay £15.67 on Angels Breath @ 6.40 = Potential liability of £84.61

Outcomes:

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

OutcomeBookieExchangeRefundProfit/Loss
Angels Breath wins+£100.00-£84.61£15.39 profit
Angels Breath doesn't win-£20.00+£15.35+£20.00£15.35 profit

So, regardless of the outcomes and with some good odds, we should make a guaranteed profit of at least £15.00 each day. With four days of racing to look forward to, this gives us an overall guaranteed profit of £60.00 on this Sky Bet offer!

If eligible, cash refunds will be credited within 24 hours of each race finishing.

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

RaceSelectionBack OddsLay OddsProfit
Supreme Novices' HurdleAngels Breath6.507.00£15.44
Ballymore Novices' HurdleBrewin'upastorm11.0012.00£16.35
JLT Novices' Steeple ChaseReal Steel7.007.40£15.93
JCB Triumph HurdleGardens Of Babylon11.0013.00£15.10

Comments


  1. Jonno

    Guest user

    Great offer this from sky bet, why lay on the exchange when your getting 100% of the back stake as cash and not a free bet? Your guaranteed £60 back without using large liability amounts which can be used on other Chelts offers that give you free bets.

    +0
    Reply
    1. Matt

      104

      There’s nothing wrong with not laying if you’d rather have a risk-free shot at a much bigger return.

      The lay bets are to lock in a profit though. If you don’t lay your selections and your selections lose, you’ll break even on each race rather than make a profit.

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      Reply
  2. Tom

    Guest user

    I would say underlaying to guarantee £10 minimum on each race would be a good way to go. Looking at £40-£50 if your horse wins and £10 if it loses.

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    1. Matt

      104

      Yes there’s nothing wrong with playing about with the stakes Tom. Simply enter the figures into my Matched Betting Calculator, open up the ‘SHOW ADVANCED‘ section and use the slider to adjust your situation as desired.

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      Reply
  3. Ef9513

    Guest user

    So this offer is on each day ? Not just the first one you put on ? As long as the bets are placed before Tuesday ?

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    Reply
    1. Matt

      104

      Yes it’s available each day and I believe the deadline for placing qualifying bets will be 13:30 on the day of each respective race.

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      Reply
  4. Mark

    Guest user

    I’m putting 20 on the favorite each day and my girlfriend is putting 20 on the second favorite each day, surely that has to real rewards at least one of the days?

    Any Cheltenham regulars here that can tell me if the favorite normally wins at least one of these races? Seems to be a lot of starting runners on the 1.30 races

    +0
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    1. Matt

      104

      There’s nothing wrong with doing that if that’s how you want to play it Mark. If both of your were to lay your bets off as above though, you would make around £120.00 between you, which is a very nice profit. Obviously, it’s impossible to say whether or not the favourites will win, but like you say, there are some big fields to get the better of.

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  5. timj17

    6

    Hi Matt

    So is the calculator above just a way of underlaying the outcome, for the gauranteed profit?

    I was just going to try and find as close as back/lay and possible and hope the horse doesnt win! But your method seems much better for a gauranteed profit even if the horse does win?

    +0
    Reply
    1. Matt

      104

      Yes exactly right. I think there’s a temptation with these offers to pick a horse and hope it loses, but the reality is that horses do sometimes win.

      So it all depends on whether you think it’s worth risking a decent guaranteed profit for a couple of extra quid…

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      Reply
  6. Chris

    Guest user

    I don’t understand why we can’t just back and lay a horse as a normal qualifying bet rather than risk free, surely that gives a better return? As if you change your example above to qualifying bet it comes back with QL of -£1.57, so £18.43 with the £20 cash back added rather than the £15 risk free bet return?

    +0
    Reply
    1. Chris

      Guest user

      Actually I’ve answered my own question a if I do that I won’t make profit if the horse wins will I?

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      Reply
      1. Howard

        Guest user

        indeed. I think it depends on the size of the field and how much money you have to lay. If there is a 20-horse field, i think i will take the chance with a 10-1+ shot and hope it doesn’t win. Smaller field i will probably lock in guaranteed profit.

        +1
        Reply
      2. Matt

        104

        Yes exactly Chris. It’s entirely up to you how you play it but it’s the underlay that allows us to lock in a guaranteed profit regardless of the outcome.

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        Reply
  7. Carling_Mascot

    1

    Hi Matt

    Similar to what someone commented above I was going to sign my wife up to Skybet to bet on alternate horses but reading the terms and conditions it states the max refund £20 is per household so I could run into trouble doing this as we share an address?

    Thanks

    +0
    Reply
    1. Matt

      104

      Yes that’s correct mate and then you’re potentially facing a restriction on your own account.

      +0
      Reply
  8. Kim

    Guest user

    What happens with non-runners on the exchange ante-post? Does it mean I win my lay bet still because the horse isn’t going to win?

    +0
    Reply
    1. Matt

      104

      Yes you should win your lay bet Kim as ante-post bets stand regardless of whether the horse runs or not.

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      Reply
  9. mikeegee70

    0

    Currently the lay odds on Smarkets is showing 7.4 for you example is that liable to come closer to the back odds? Just to maximise the profit?

    +0
    Reply
    1. Matt

      104

      It’s impossible to say Mike. Angels Breath was merely used an example. We should be looking to place our back and lay bets at the same time once we’ve found a horse with close enough back and lay odds.

      +0
      Reply
  10. Norms

    Guest user

    I got back 6.50, lay 7 on Angels Breath, but that was at 8.30am this morning, which gives me a profit of £15.76!

    +0
    Reply
    1. Matt

      104

      Nicely done Norms.

      +1
      Reply
  11. Aaron

    Guest user

    Took Klassical Dream @ 5.0 and went out without laying the bad boy… just seen that sky gave me 7.00 with best odds guaranteed. Well my momma told me, there’d be days like this, scooby doo, scooby doo bap.

    +0
    Reply
    1. Matt

      104

      Well played Aaron! Always nice to get a Best Odds Guaranteed bonus.

      +0
      Reply
  12. Aaron

    Guest user

    Anyone know if there is anywhere we can rewatch horse races?

    +0
    Reply
  13. James

    Guest user

    Is there a restriction on the odds number? As in you only get your bet back if your odds are less than 8 for example ?

    +0
    Reply
    1. Matt

      104

      No James, the offer applies to all losing bets regardless of the odds.

      +0
      Reply
  14. Ryan C

    Guest user

    Reading the terms and conditions this morning and came across this, “ This offer only applies to your FIRST CASH BET on a horse that runs in the 13.30 Cheltenham (“qualifying bet”). Subsequent bets will not receive a cash refund and will be settled under the normal Sky Bet terms and conditions.“ for day 2, does this mean that if I bet on day 1 at 1:30 I won’t get my money back on day 2?

    +0
    Reply
    1. Matt

      104

      No Ryan, this offer is available on all four days of the festival.

      +1
      Reply
  15. Chris

    Guest user

    Not managed to get odds to lock in a profit so looks like my 20 on battleoverdoyen is going to profit or money back. Struggling with net bet as well

    +0
    Reply
  16. Charlotte

    Guest user

    Earlier in the week I took klassical dream at 5.0 and risk free laid it for £12 guaranteed profit, but just seen that with sky’s best odds guaranteed the odds went up to 7.0, so an extra £40 profit in sky account… is the whole £40 extra profit in my pocket?

    +0
    Reply
    1. Matt

      104

      Great news Charlotte! Yes that’s absolutely yours to keep. It doesn’t happen all that often but it’s a nice bonus when it does!

      +0
      Reply
  17. Debbie

    Guest user

    Placed a bet on sky bet 12/1 £20 won £260 although horse won at 20/1 sky bet telling me best odds guaranteed was removed Thursday at 1.30 due to business decision was any one informed of this what can I do

    +0
    Reply
    1. Matt

      104

      That’s unfortunate Debbie. Looking at their terms I’m not sure there’s much you can do…

      https://support.skybet.com/s/article/Best-Odds-Guaranteed

      ‘Best Odds Guaranteed may not apply to promotional offer races, instances such as money back offer races for example.’

      ‘Sky Bet reserve the right to withhold, restrict or cancel this offer from individual account holders at its own discretion and without prior notice.’

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      Reply
  18. Alan

    Guest user

    Had exactly the same problem with skybet bog at Cheltenham fri 15/3 bet on the winner at 14 to 1 and returned 20 to 1. They paid the lower amount and invoked their special t&c and it kicked off my lucky 31 so I was cheated. They were not answering phone lines emails were delayed and chat lines 2 hr waits. I contacted them 7 or 8 times to no avail and then wrote in and have been completely blanked. The Racing Post when I spoke to them took Skybets side saying you should read all the terms and conditions of the company. I had checked oddschecker, I read skybets statement all 28races at Cheltenham are BOG, and this was endorsed by the sporting life. Having read the complaints regarding Skybet how are they allowed to continue with their blatant disregard to clients. I don’t mind losing but their are fair play rules to abide by. They should be looked into or investigated as they are corrupt.

    +0
    Reply
    1. Matt

      104

      If you have an issue Alan and believe you have a case, have you considered submitting a complaint to IBAS?

      +0
      Reply

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