Sky Bet Cheltenham 2017 Offer – Money Back if You Lose

Cheltenham Festival 2017 gets underway on Tuesday and Sky Bet lead the way with a fantastic money back offer! Simply place a bet on the first race at Cheltenham each day and if it loses, Sky Bet will refund our stake as a free bet up to a maximum of £20.00. Translated into matched betting terms, this gives us a guaranteed profit of £52.00+ and here’s how…

Qualifying Bets:

This is a risk-free offer, so we can guarantee ourselves a profit on any outcome! If you’re unsure how to do risk-free bet offers, check out my Risk-Free Bet Strategy page for a walk-through guide on how it should be done.

This offer only applies to bets placed after 20:00 on Wednesday 1st March 2017 and is available on the following races…

Race Time Date
Supreme Novices’ Hurdle 13:30 Tuesday 14th March 2017
Neptune Novices’ Hurdle 13:30 Wednesday 15th March 2017
JLT Novices’ Chase 13:30 Thursday 16th March 2017
Triumph Hurdle 13:30 Friday 17th March 2017

We’ll need to select horses with long odds in order to maximise our profits.

The back and lay odds should tighten up on the day of each race. 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 and the site is really easy to use. They are also charging 0% commission on the first race every day at Cheltenham!

We just need to select ‘Risk-Free Bet’ on my matched betting calculator and enter £16.00 as our ‘Cashback’ amount as we can expect to extract 80% of our £20.00 free bet refund as cash…

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 £17.00…

sky bet logo

Place £20.00 on River Wylde @ 11.00 = Potential profit of £200.00

smarkets logo

Lay £17.00 on River Wylde @ 12.00 = Potential liability of £187.00

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

River Wylde wins + £200.00 – £187.00 = £13.00 profit
River Wylde doesn’t win – £20.00 + £17.00 + £16.00 (extract 80% from our £20.00 free bet) = £13.00 profit

So, regardless of the outcome and with some good odds, we should make a guaranteed minimum profit of £13.00 each day. With four days of racing to look forward to, this gives us an overall guaranteed profit of £52.00+ on this Sky Bet Cheltenham 2017 offer!

If eligible, free bets will be credited within 24 hours of the race finishing. Free bets can be used on any sport and will be valid for 3 days.

I’ll update the following table with my actual selections after each race…

Race Selection Back Odds Lay Odds Profit
Supreme Novices’ Hurdle Crack Mome 13.00 14.00 £13.43
Neptune Novices’ Hurdle Bon Papa 21.00 22.00 £14.36
JLT Novices’ Chase Politologue 8.00 8.60 £12.74
Triumph Hurdle Master Blueyes 8.50 9.40 £12.38

* As you can see, I made an overall profit of £52.91 on this Sky Bet Cheltenham 2017 offer. *

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Matt Kirman - Matched Betting Blogger

Matt KirmanMatched Betting Blogger

Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.