Goodwood Festival 2021 (Day 1) Offer – Paddy Power

It’s Day 1 of Goodwood Festival 2021 on Tuesday and you don’t want to miss this Paddy Power risk-free bet offer! Place a bet of up to £10.00 on the 14:25 Goodwood and if it loses, Paddy Power will refund our stake as a free bet. Translated into matched betting terms, this gives us a guaranteed profit of £5.66 and here’s how…

Key terms

  • Money back as a free bet if our horse loses in the 14:25 Goodwood.
  • Applies to bets placed between 17:00 on Sunday 25th July 2021 and 14:25 (race-off) on Tuesday 27th July 2021.
  • Offer applies to the win market and the win part of each way bets only.
  • Applies to bets of up to £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, Angel Bleu is available at back odds of 9.00 (8/1) and lay odds of 10.50.

Smarkets works best for this offer

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 that’s the cash amount we can expect to convert our £10.00 free bet into if our horse loses…

Select bet type

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 £7.82…

Place £10.00 on Angel Bleu @ 9.00 = Potential profit of £80.00

Lay £7.82 on Angel Bleu @ 10.50 = Potential liability of £74.29


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

OutcomePaddy PowerExchangeFree BetProfit/Loss
Angel Bleu wins+ £80.00– £74.29£5.71 profit
Another horse wins– £10.00+ £7.66+ £8.00£5.66 profit

So, no matter the outcome, we’ll make a guaranteed profit of £5.66 on this Paddy Power offer!

If eligible, free bets will be credited within 2 hours of the race ending and will be valid on any horse racing market for 7 days.

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

* Angel Bleu won the race, resulting in a profit of £5.71 on this Paddy Power offer. *

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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.