There’s a big day of racing at Cheltenham on Sunday and you don’t want to miss this Paddy Power money back offer! Simply place a bet of up to £10.00 on the 13:50 at Cheltenham and if our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.10 and here’s how…
Key Terms:
- We must place our bet between 10:00 on Saturday 14th November 2020 and 13:50 (race-off) on Sunday 15th November 2020.
- Offer applies to the win market and the win part of each way bets only.
- If less than 7 runners take part, this offer will revert to money back if 2nd.
- If our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to £10.00.
Qualifying Bet:
If you’d like more information about qualifying bets and how they work, please see my Qualifying Bets Guide.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd, 3rd or 4th place finish.
Having looked at the odds available, Discorama has back odds of 5.00 (4/1) and lay odds of 5.40.
We can calculate our lay stakes using my Matched Betting Calculator.
Aim to lose no more than £1.00 on our qualifying bet
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Free Bet | Profit/Loss |
|---|---|---|---|---|
| Discorama wins | +£40.00 | -£40.87 | £0.87 loss | |
| Discorama finishes 2nd 3rd or 4th | -£10.00 | +£9.10 | +£8.00 | £7.10 profit |
| Discorama finishes outside top 4 | -£10.00 | +£9.10 | £0.90 loss |
So, we’ll make a nice profit of £7.10 if Discorama finishes 2nd, 3rd or 4th and we stand to lose a maximum of £0.90 on any other outcome. Risking £0.90 to make a profit of £7.10 gives us effective odds of 8.89, which I’m sure you’ll agree, makes this a profitable offer in the long run.
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 walk-through of how it should be done.
* The field was reduced to 6 runners, meaning this offer reverted to Money back if 2nd. Discorama finished outside the top 2, resulting in a loss of £0.90 on this Paddy Power offer. *
More reload offers – Make £300+ per month
With detailed walkthroughs for all the best offers as they’re released, you’ll be bagging recurring profits in no time.
More reload offers
Got a question?
Leave me a comment below…
I usually respond within 24 hours.
Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £90,000 worth of profit, and made it my mission to make matched betting accessible to everyone.