Cheltenham Festival 2020 Offer – Unibet

The Cheltenham Festival 2020 gets underway on Tuesday and you don’t want to miss this Unibet offer! Simply place a bet on any ITV race in the 15 minutes before the scheduled start time and if we back the winner, Unibet will match our stake with a free bet, up to £20.00. Translated into matched betting terms, this gives us a profit of around £35.00 and here’s how…

Key Terms:

  • Minimum stake of £5.00.
  • Qualifying bets must be placed on the selected ITV races in the 15 minutes before the scheduled start time.
  • In order to qualify, select the “15 to Go” box that appears on the betslip after entering our stake.
  • Qualifying bets must be placed at odds of 2.00 (evens) or greater.
  • If our selected horse wins, Unibet will match our stake as a free bet, up to £20.00.

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.

It’s entirely up to you which horses you place your qualifying bets on. We won’t know what odds are available until 15 minutes before the off, so I’ll use fictional odds for Asterion Forlonge (5/2) in the Supreme Novices’ Hurdle (13:30 on Tuesday) and I’ll update the bottom of the post with some actual selections after the races.

We know that if our horse wins, we’ll be able to extract 80% cash from the £20.00 free bet we’ll receive. We can therefore add 0.80 to the back odds to get our effective odds…

3.50 + 0.80 = 4.30

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

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 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 £24.02…

Unibet logo

Place £20.00 on Asterion Forlonge @ 3.50 = Potential profit of £50.00

Betfair logo

Lay £24.02 on Asterion Forlonge @ 3.60 = Potential liability of £62.45

Outcomes:

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

Outcome Bookie Exchange Extracted Profit/Loss
Asterion Forlonge wins +£50.00 -£62.45 +£16.00 £3.55 profit
Asterion Forlonge doesn’t win -£20.00 +£23.53 £3.53 profit

So, regardless of the outcome, we would make a guaranteed profit of £3.53.

We won’t be able to find suitable odds on all 20 eligible races, but we should aim to make a profit of around £35.00 on this Unibet offer!

If eligible, free bets will be credited within 2 hours of the weigh in and will be valid on horse racing for 7 days. Free bet stakes will not be returned with any winnings.

If you’re unsure how to extract £16.00 cash (80%) from a £20.00 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 at the end of each day…

Race Selection Back Odds Lay Odds Profit
13:30 Tuesday Asterion Forlonge 4.00 4.20 £2.51
14:10 Tuesday Notebook 3.50 3.60 £3.53
15:30 Tuesday Epatante 3.00 3.25 £3.06
16:10 Tuesday Honeysuckle 3.50 3.75 £2.59
14:50 Wednesday Dame De Compagnie 5.50 5.80 £11.36 *
16:10 Wednesday Easysland 4.00 4.30 £1.99
13:30 Friday Goshen 3.75 3.85 £3.28
14:50 Friday Fury Road 6.50 6.80 £1.09
16:10 Friday Billaway 3.50 3.65 £3.21

* Dame De Compagnie won the race at starting price odds of 6.00 (5/1), resulting in a profit of £11.36 courtesy of Unibet’s Best Odds Guaranteed promotion.

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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.