Paddy Power Cheltenham 2017 Offer – Money Back if 2nd

Cheltenham Festival 2017 gets underway on Tuesday and Paddy Power are getting in on the action! Simply place a bet on any of the first 5 races each day and if our horse finishes 2nd, Paddy Power will refund our stake as a free bet up to a maximum of £20.00. Translated into matched betting terms, this gives us a potential profit of £100.00+ and here’s how…

Qualifying Bets:

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.

This offer only applies to bets placed after 08:00 on Wednesday 1st March 2017 and is available on the first 5 races each day as follows…

Day Time Race
Tuesday 1.30 Supreme Novices’ Hurdle
Tuesday 2.10 Arkle Chase
Tuesday 2.50 Ultima Handicap Chase
Tuesday 3.30 Champion Hurdle
Tuesday 4.10 Mares Hurdle
Wednesday 1.30 Neptune Novices’ Hurdle
Wednesday 2.10 RSA Chase
Wednesday 2.50 Coral Cup
Wednesday 3.30 Champion Chase
Wednesday 4.10 Cross Country Chase
Thursday 1.30 JLT Novices’ Chase
Thursday 2.10 Pertemps Final
Thursday 2.50 Ryanair Chase
Thursday 3.30 Stayers Hurdle
Thursday 4.10 Brown Advisory Plate
Friday 1.30 Triumph Hurdle
Friday 2.10 County Hurdle
Friday 2.50 Albert Bartlett Novices’ Hurdle
Friday 3.30 Cheltenham Gold Cup
Friday 4.10 Foxhunters Chase

The fields at Cheltenham are a little on the large side so we should only get involved if we can get on the shorter priced favourites at tight odds.

The back and lay odds should tighten up as the start of each race draws nearer. In the meantime, I’ll use fictional odds for the Supreme Novices’ Hurdle in the following example to illustrate how this offer should be done each day.

I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races, the site is really easy to use and they only charge 2% commission in comparison to the 5% charged by other betting exchanges. Remember, we pay 0% commission on the first race each day with Smarkets!

We can calculate our lay stake using my matched betting calculator…

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 £19.44…

paddy power logo

Place £20.00 on Melon @ 3.50 = Potential profit of £50.00

smarkets logo

Lay £19.44 on Melon @ 3.60 = Potential liability of £50.54

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

Melon wins + £50.00 – £50.54 = £0.54 loss
Melon finishes 2nd – £20.00 + £19.44 + £16.00 (extract 80% from £20.00 free bet) = £15.44 profit
Melon finishes outside top 2 – £20.00 + £19.44 = £0.56 loss

So, if Melon finishes 2nd, we’ll make a nice profit of £15.44, otherwise we’ll have made a maximum loss of £0.56. Risking £0.56 to make a profit of £15.44, gives us effective odds of 28.57, which I’m sure you’ll agree makes this a profitable offer in the long run.

With four days of racing to look forward to, this gives us an overall potential profit of £100.00+ on this Paddy Power Cheltenham 2017 offer!

If eligible, our free bets will be available to use on horse racing for 7 days from when they are credited. If you’re unsure how to extract 80% cash from a £20.00 free bet, please see my Free Bet Strategy page for a walk-through guide on how it should be done.

I’ll update the following table with my actual selections at the end of each day…

Race Selection Back Odds Lay Odds Profit/Loss
1.30 Tuesday Ballandy 4.00 4.30 – £1.69
3.30 Tuesday Buveur D’air 6.50 6.60 – £0.65
4.10 Tuesday Apple’s Jade 5.00 5.10 – £0.72
1.30 Wednesday Neon Wolf 2.875 3.10 + £14.55
2.10 Wednesday Whisper 7.50 7.80 + £14.89
4.10 Wednesday Sausalito Sunrise 15.00 15.00 – £0.38
1.30 Thursday Yorkhill 2.50 2.64 – £1.06
2.50 Thursday Empire Of Dirt 4.00 4.10 – £0.79
3.30 Thursday Unowhatimeanharry 2.375 2.52 – £1.38
2.50 Friday Death Duty 2.625 2.78 – £1.37
3.30 Friday Djakadam 4.00 4.20 – £1.25
4.10 Friday On The Fringe 2.375 2.48 – £1.08

* As you can see, I made an overall profit of £19.07 on this Paddy Power Cheltenham 2017 offer. *


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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.