There’s a big day of racing at Cheltenham on Saturday and it’s time for another Sky Bet Money Back Special! If our horse finishes 2nd, 3rd, 4th or 5th in the 13:50 at Cheltenham, Sky Bet will refund our stake as cash, up to a maximum of £20.00. Translated into matched betting terms, this gives us a potential profit of £18.45 and here’s how…
Key Terms:
- This offer applies to our first bet on the 13:50 at Cheltenham.
- Qualifying bets must be placed between 14:00 on Friday 25th January 2019 and 13:50 (race-off) on Saturday 26th January 2019.
- If fewer than ten runners come under starters orders, Sky Bet may withdraw the offer.
- If our horse finishes 2nd, 3rd, 4th or 5th, Sky Bet will refund our stake as cash, up to £20.00.
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
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, 4th or 5th place finish.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Janika 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 with Smarkets is likely to give us the smallest qualifying loss.
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 £18.83…
Place £20.00 on Janika @ 4.50 = Potential profit of £70.00
Lay £18.83 on Janika @ 4.80 = Potential liability of £71.55
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Cashback | Profit/Loss |
|---|---|---|---|---|
| Janika wins | +£70.00 | -£71.55 | £1.55 loss | |
| Janika finishes 2nd 3rd 4th or 5th | -£20.00 | +£18.45 | +£20.00 | £18.45 profit |
| Janika finishes outside top 5 | -£20.00 | +£18.45 | £1.55 loss |
So, we’ll make a nice profit of £18.45 if Janika finishes 2nd, 3rd, 4th or 5th and we stand to lose £1.55 on any other outcome. Risking £1.55 to make a profit of £18.45 gives us effective odds of 12.90, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If eligible, cash refunds will be credited within 24 hours of the race finishing.
* See my Horse Racing Offers page for a full list of money back offers available today! *
* Janika was available at back odds of 3.50 and lay odds of 3.65. Janika finished 2nd, resulting in a profit of £18.89 on this Sky Bet 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.