Cheltenham Festival 2020 Offer – Bet365

The Cheltenham Festival 2020 gets underway on Tuesday and you don’t want to miss this Bet365 offer! Simply back a winner at odds of 4/1 or more in any live ITV race and Bet365 will give us a risk-free bet equal to our stake, up to a maximum of £50.00. Translated into matched betting terms, this gives us an overall potential profit of £100.00+ and here’s how…

Key Terms:

  • Offer applies to first win or each way single bet placed on each race shown live on ITV Racing.
  • If our horse wins at odds of 5.00 (4/1) or greater, we’ll qualify for a risk-free bet to the same stake, up to £50.00, on the next ITV race.
  • Risk-free bets must be placed using our own funds and if it loses, Bet365 will refund our stake in cash.

Qualifying Bets:

This offer is available on the first five races each day (13:30, 14:10, 14:50, 15:30 and 16:10).

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 know that if our horse wins, we’ll be able to extract 75% cash from the £50.00 risk-free bet. We can therefore add 0.75 to the back odds to get our effective odds…

5.50 + 0.75 = 6.25

Overlaying like this is an option, but the guaranteed profits are likely to be small. Therefore, it may be best to lay our bets as normal and hope a couple of our horses win for bigger profits.

The back and lay odds should tighten up as the start of each race draws near. Having looked at the odds available for the Arkle Chase (14:10 on Tuesday), we could place our qualifying bet on Fakir D’Oudairies.

At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.

Betfair are currently offering new customers 0% commission up to £500 for the first 30 days.

Banner showing the zero commission sign up offer from Betfair

Banner showing the zero commission sign up offer from Betfair

If you’re an existing Betfair customer, you can opt in to pay just 2% commission by selecting their Basic reward plan.

For more information about My Betfair Rewards and how to opt in, please see my Betfair 2% Commission page.

We can calculate our lay stake using my matched betting calculator…

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 £49.28…

Bet365 logo

Place £50.00 on Fakir D’Oudairies @ 5.50 = Potential profit of £225.00

Betfair logo

Lay £49.28 on Fakir D’Oudairies @ 5.60 = Potential liability of £226.68

Outcomes:

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

Outcome Bookie Exchange Extracted Profit/Loss
Fakir D’Oudairies wins +£225.00 -£226.68 +£37.50 £35.82 profit
Fakir D’Oudairies doesn’t win -£50.00 +£48.29 £1.71 loss

So, we’ll make a nice profit of £35.82 if Fakir D’Oudairies wins, otherwise we’ll lose £1.71. Risking £1.71 to make a profit of £35.82 gives us effective odds of 21.95. So, given that Fakir D’Oudairies is odds of just 5.50 (9/2) to win the race, this is a profitable offer in the long run.

ITV are covering 20 races across Cheltenham Festival 2020, giving us an overall potential profit of £100.00+ on this Bet365 offer!

If any of our selections win, our risk-free bet will be valid on the very next ITV race. We must place our risk-free bets using our own funds and if our selection loses, Bet365 will refund our stake in cash, up to a maximum of £50.00. If our risk-free bet wins, we’ll qualify for another risk-free bet on the next ITV race.

If you’re unsure how to extract £37.50 cash (75%) from a £50.00 risk-free bet, check out my Risk-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 at the end of each day…

Race Selection Back Odds Lay Odds Profit/Loss
14:10 Tuesday Fakir D’Oudairies 5.50 5.60 -£1.71
15:30 Tuesday Cilaos Emery 8.50 8.60 -£1.47
14:10 Wednesday Champ 5.00 5.30 -£3.60
14:50 Wednesday Dame De Compagnie 5.50 5.80 +£63.14 *
15:30 Wednesday Dynamite Dollars 8.00 9.60 +£35.79 **
16:10 Wednesday Easysland 5.00 5.00 -£0.80
13:30 Thursday Samcro 5.50 6.00 +£36.85 ***
14:10 Thursday Relegate 6.00 6.60 +£37.23 ****
13:30 Friday Solo 5.00 5.30 -£3.60
14:50 Friday Thyme Hill 6.00 6.00 -£0.84

* Champ won the 14:10 on Wednesday and Dame De Compagnie won the 14:50 on Wednesday at starting price (SP) odds of 6.00 (5/1), resulting in a profit of £63.14, courtesy of Bet365’s Best Odds Guaranteed promotion.

** Dame De Compagnie won the 14:50 on Wednesday, resulting in a profit of £35.79 on the 15:30 on Wednesday.

*** Easysland won the 16:10 on Wednesday, resulting in a profit of £36.85 on the 13:30 on Thursday.

**** Samcro won the 13:30 on Thursday, resulting in a profit of £37.23 on the 14:10 on Thursday.

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.