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Cheltenham Festival 2021 Offer – Paddy Power

Cheltenham Festival 2021 gets underway on Tuesday and you don’t want to miss this Paddy Power free bet offer! They’re giving all customers three completely free £5.00 bets to use on the first three days of the festival! Translated into matched betting terms, this gives us a guaranteed profit of £12.00 and here’s how…

Key terms

  • Offer available to new and existing Paddy Power customers.
  • Opt in via the promo banner on the Paddy Power homepage to claim the free bets.
  • Free bets will become available on Sunday 14th March 2021.
  • The 3 x £5.00 free bets can be used as follows:
    • Supreme Novices’ Hurdle (13:20) on Tuesday 16th March 2021.
    • Ballymore Novices’ Hurdle (13:20) on Wednesday 17th March 2021.
    • Any Cheltenham Festival race on Thursday 18th March 2021.

Free bets

Using straightforward matched betting, we should be able to convert each £5.00 free bet into 80% cash, so £4.00. If you’re unsure how to do this, please see my free bets guide for a walkthrough of how it should be done.

It’s entirely up to you which horses you place your free bets on.

At the time of writing, the lay odds aren’t yet available, so I’ll use fictional odds for Soaring Glory in the Supreme Novices’ Hurdle to illustrate how this offer should be done. The back odds are 8.00 (7/1), so let’s say the lay odds are 8.60.

We can calculate our lay stakes 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 £4.08…

Place £5.00 free bet on Soaring Glory @ 8.00 = Potential profit of £35.00

Lay £4.08 on Soaring Glory @ 8.60 = Potential liability of £31.00

Outcomes

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

OutcomePaddy PowerExchangeProfit/Loss
Soaring Glory wins+ £35.00– £31.00£4.00 profit
Soaring Glory loses– £5.00 free bet+ £3.99£3.99 profit

So, with some decent odds, we should make a guaranteed profit of around £4.00 on each race. With three free bets to claim, that gives us an overall guaranteed profit of £12.00 on this Paddy Power offer!

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 £60,000 worth of profit, and made it my mission to make matched betting accessible to everyone.