Day 3 of the Cheltenham Festival 2016 falls on St Patrick’s Day and Coral are running the perfect offer to celebrate! Simply place a £20.00+ Win Single on the JLT Novices’ Chase (13:30 Thursday 17th March 2016) and every time an Irish trained horse wins on Day 3 of Cheltenham, Coral will give us a £5.00 free bet. Translated into matched betting terms, this gives us a potential profit of £26.43 and here’s how…
Qualifying Bet:
If you’re unfamiliar with qualifying bets, please see my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
All we need to do is place a £20.00+ Win Single on the opening race of Day 3, which is the JLT Novices’ Chase (13:30 on Thursday 17th March 2016).
Having looked at the odds available, I’ve opted to place my qualifying bet on Outlander.
I like to place my exchange lay bets with Smarkets as they have great liquidity, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges.
We can calculate our lay stake using my matched betting calculator…
As you can see, the calculator tells us that our lay stake should be £18.81…
Place £20.00 on Outlander @ 6.00 = Potential profit of £100.00
Lay £18.81 on Outlander @ 6.40 = Potential liability of £101.57
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outlander wins | + £100.00 – £101.57 = £1.57 loss |
| Outlander doesn’t win | – £20.00 + £18.43 = £1.57 loss |
So, regardless of the result of the JLT Novices’ Chase, we will lose £1.57 in qualifying for this offer.
Free Bets:
For every Irish trained horse that wins on Day 3 of the Cheltenham Festival, we will receive a £5.00 free bet.
There are between 3 and 6 Irish trained horses running in all 7 of the following races today…
| Time | Race |
|---|---|
| 13:30 | JLT Novices Chase |
| 14:10 | Pertemps Final |
| 14:50 | Ryanair Chase |
| 15:30 | World Hurdle |
| 16:10 | Brown Advisory Plate |
| 16:50 | Mares Novices Hurdle |
| 17:30 | Kim Muir Handicap Chase |
Therefore, if all 7 races are won by an Irish trained horse, we would receive £35.00 in free bets.
By using straightforward matched betting, we can extract 80% of any free bet as cash, so in this case, £28.00. If we take into account our qualifying loss of £1.57, this gives us a potential profit of £26.43!
Free bets will be credited by 12:00 on Friday 18th March 2016 and must be used to bet on Day 4 of the Cheltenham Festival. If our free bets aren’t used, they will expire at 18:00 on Friday 18th March 2016.
* There were 6 Irish trained winners on Day 3 of the Cheltenham Festival 2016, meaning I made a profit of £22.43 on this Coral offer. *
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £100,000 worth of profit, and made it my mission to make matched betting accessible to everyone.