£6.00
Guaranteed Profit
£6.22
Actual Profit

Cheltenham Gold Cup 2020 Offer – Virgin Bet


Posted by Matt (administrator) Matt
Start Time: 13/03/2020 15:30

It’s the Cheltenham Gold Cup on Friday and you don’t want to miss this Virgin Bet Money Back Special! Simply place a bet on the 15:30 at Cheltenham and if it loses, Virgin Bet will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a guaranteed profit of £6.00 and here’s how…

Key Terms:

  • Applies to our first single cash bet placed on the Cheltenham Gold Cup.
  • Qualifying bets must be placed before 15:30 (race-off) on Friday 13th March 2020.
  • If our bet loses, Virgin Bet will refund our stake as a free bet, up to a maximum of £10.00.

Qualifying Bet:

Losing stakes are refunded as a free bet, so we can treat this as a risk-free bet offer.

We’ll need to select a horse with long odds in order to maximise our profit.

At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Clan Des Obeaux in the following example and I’ll update the bottom of the post with an actual selection after the race.

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 work out our lay stake by using the ‘Risk-Free Bet’ setting on my matched betting calculator. We can enter £8.00 as our ‘Cashback’ figure as this is the amount we can expect to extract (80%) from our £10.00 free bet refund, should our horse lose…

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 £8.19…

Virgin Bet logo

Place £10.00 on Clan Des Obeaux @ 7.50 = Potential profit of £65.00

Betfair logo

Lay £8.19 on Clan Des Obeaux @ 8.20 = Potential liability of £58.96

Outcomes:

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

OutcomeBookieExchangeExtractedProfit/Loss
Clan Des Obeaux wins+£65.00-£58.96£6.04 profit
Clan Des Obeaux doesn't win-£10.00+£8.02+£8.00£6.02 profit

So, as you can see, with some good odds we should be able to make a guaranteed profit of £6.00 on this Virgin Bet offer!

If eligible, our free bet will be credited within 3 hours of our qualifying bet being settled and will be valid for 7 days. Free bet stakes are not included in any returns.

If you’re unsure how to extract £8.00 cash (80%) from a £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.

* Clan Des Obeaux was available at back odds of 8.00 and lay odds of 8.60. Clan Des Obeaux failed to win the race, resulting in a profit of £6.22 on this Virgin Bet offer. *

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