The Cheltenham November Meeting 2019 gets underway on Saturday and you don’t want to miss this Betway Money Back Special! Simply place a bet on the first race each day and if it loses, Betway will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us an overall guaranteed profit of £12.00 and here’s how…
Key Terms:
- Qualifying bets must be placed on the first race at Cheltenham each day (15th – 16th November 2019).
- Applies to ante-post, single, pre-race, Race Winner bets placed from Monday 11th November 2019.
- If our bet loses, Betway will refund our stake as a free bet, up to a maximum of £10.00.
Qualifying Bets:
This offer is available on the following races at the Cheltenham November Meeting 2019…
| Race | Time | Date |
|---|---|---|
| The Ballymore Novices’ Hurdle | 12:05 | Saturday 16th November 2019 |
| The Cheltenham Club Conditional Jockeys’ Handicap Hurdle | 12:45 | Sunday 17th November 2019 |
Losing stakes are refunded as a free bet, so this is effectively a risk-free bet offer.
We’ll need to select horses with long odds in order to maximise our profits.
At the time of writing, the lay odds for Saturday’s Ballymore Novices’ Hurdle aren’t quite tight enough, so I’ll use fictional lay odds for L’Air Du Vent (5/1) in the following example. I’ll update the table at the bottom of the post with an actual selection after the race.
At the time of writing, laying our bet with Smarkets is likely to give us the biggest guaranteed profit.
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…
As you can see, the calculator tells us that our lay stake should be £8.15…
Place £10.00 on L’Air Du Vent @ 6.00 = Potential profit of £50.00
Lay £8.15 on L’Air Du Vent @ 6.40 = Potential liability of £44.01
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| L’Air Du Vent wins | +£50.00 | -£44.01 | £5.99 profit | |
| L’Air Du Vent doesn’t win | -£10.00 | +£7.98 | +£8.00 | £5.98 profit |
So, regardless of the outcomes and with some good odds, we should make a guaranteed profit of around £6.00 on both races, giving us an overall guaranteed profit of £12.00 on this Betway offer!
If eligible, free bets will be credited within 24 hours of our qualifying bets being settled and will be valid for 24 hours. 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.
I’ll update the following table during the meeting with suggested bets for both races…
| Race | Selection | Back Odds | Lay Odds | Profit |
|---|---|---|---|---|
| 12:05 Saturday | Happygolucky | 11.00 | 11.50 | £6.71 |
| 12:45 Sunday | Colditz Castle | 7.00 | 8.00 | £5.61 |
| Total: | £12.32 |
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Matt Kirman – Matched 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.