Cheltenham Festival 2021 Offer – Betfred

Cheltenham Festival 2021 is here and you don’t want to miss this Betfred money back offer! Simply place a bet on the selected race each day and if the horse you back finishes 2nd, Betfred will refund your stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £20.00+ and here’s how…

Key terms

  • Applies to bets placed from 17:00 the day before each selected race.
  • Applies to win singles and the win part of each way bets only.
  • 5 or more horses must run.
  • Money back as a free bet, up to £10.00, if your horse finishes 2nd in the following races:
    • Supreme Novices’ Hurdle (13:20 Tuesday)
    • Ballymore Novices’ Hurdle (13:20 Wednesday)
    • Ryanair Chase (14:30 Thursday)
    • Triumph Hurdle (13:20 Friday)

Qualifying bets

If you’d like more information about qualifying bets and how they work, please see my qualifying bets guide.

It’s entirely up to you which horses you go for, but it makes sense to select horses with fairly low odds to maximise your chances of hitting 2nd place.

Having looked at the odds available for the Supreme Novices’ Hurdle, we could place our qualifying bet on Metier at back odds of 5.50 (9/2) and lay odds of 5.70.

Either exchange works for this offer

Betfair and Smarkets are both great options for this offer. If you’ve not used one of them, now is a great time to give them a try.

  • Money back as cash up to £20
  • 0% commission for 60 days

We can calculate our lay stake using my Matched Betting Calculator

Back Bet (Bookie)


Lay Bet (Betting Exchange)


Min £
Max £
Lay stake required: £
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 £9.68…

Betfred logo

Place £10.00 on Metier @ 5.50 = Potential profit of £45.00

Smarkets logo

Lay £9.68 on Metier @ 5.70 = Potential liability of £45.49


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

OutcomeBetfredSmarketsFree BetProfit/Loss
Metier wins+ £45.00– £45.49£0.49 loss
Metier finishes 2nd– £10.00+ £9.48+ £8.00£7.48 profit
Any other outcome– £10.00+ £9.48£0.52 loss

So, we’ll make a nice profit of £7.48 if Metier finishes 2nd, or we’ll lose a maximum of £0.52 on any other outcome. Risking £0.52 to make a potential profit of £7.48 gives us effective odds of 15.38, which I’m sure you’ll agree makes this a profitable offer in the long run.

There are four selected races to go at, giving us an overall potential profit of £20.00+ on this Betfred offer!

If eligible, free bets will be credited within 24 hours of our qualifying bets being settled.

If you’re unsure how to convert your £10.00 free bets into £8.00 cash (80%), please see my free bets guide for a walkthrough of how it should be done.

I’ll update the following table at the end of each day…

RaceSelectionBack OddsLay OddsProfit/Loss
13:20 TuesdayMetier5.505.70£0.52 loss
13:20 WednesdayGaillard Du Mesnil3.003.15£7.38 profit
14:30 ThursdayAllaho5.005.40£0.87 loss
13:20 FridayZanahiyr2.252.38£0.67 loss

Don’t miss out on one of the most profitable weeks of the matched betting calendar! For a comprehensive list of available bookmaker offers, please see my Cheltenham Festival 2021 Offers page.

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.